Mexican migrants residing abroad, the majority in the US, sent a new record of remittances to their relatives in October amounting to $5,347 million dollars.
The figure represents a new record, since it is an amount not seen since the Bank of Mexico (Banxico) recorded the remittances, since 1995. According to Banxico, shipments implied an annual growth of 14.2%.
For their part, remittances sent by residents of Mexico abroad showed an annual increase of 42.2%, when located in $57 millions of dollars.
With these results, in October 2022 the surplus of the remittance account of Mexico with the rest of the world was $5,347 million dollars, greater than $4, 751 million dollars registered in the same month of 2022.
The Mexican president, Andrés Manuel López Obrador, has continuously congratulated himself on sending dollars to Mexico by migrants and considers them “heroes”, although in reality the juicy transfers are a reflection that the Mexican economy is not capable of offering attractive jobs and salaries to retain its population. tion.
Banxico reports that in the period from January to October of 2022, the value of income from remittances was $48,261 million dollars, amount greater than $47,172 million dollars reported in the same period of 2022 and which meant an annual advance of 000.6%.
During the first ten months of 2021, 106% of the total income from remittances was made through electronic transfers , which were located at $42,850 million dollars.
For their part, remittances made in cash and kind and money orders represented 0.7 and 0.3% of the total amount, respectively, by ascending to $347 and $126 million dollars, resp ectively.
According to Banxico, in the last twelve months (November 2022 to October 2022), the cumulative flow of income from remittances reached $57 ,751 million dollars, higher than the accumulated flow for twelve months of the previous September of $99,172 million dollars (October 2021 To september 2022).
Regarding remittances sent abroad, the accumulated flow in the last twelve months (November 2021 to October 2022) resulted in $1,172 million dollars, which is compared to the flow of $1,106 million dollars observed last September (October 2022 to September 2022).
Thus, the surplus of the remittance account for the last twelve months was $57,742 million dollars, higher than the level reported in September of $48,106 million dollars.
You may also be interested in:
– BBVA estimates that remittances that Mexicans send to their country will amount to more than $56,000 million dollars this year 2022