During the year 2024, 99.1% of the total remittance income was made through electronic transfers, reaching a level of 64 billion 136 million dollars. Although this figure was slightly below the estimates of some analysts and former president Andrés Manuel López Obrador, it remained a relevant indicator in the Mexican economy.
"Remittances are not an achievement of the Mexican economy, they are the result of the lack of job opportunities in the country," said Gabriela Siller, director of economic analysis at Grupo Financiero Base. In December, remittance income from abroad reached five billion 228 million dollars, representing an annual decrease of 4.9%. Although a new record was set in the amount received, the increase was less pronounced than in previous years, according to data from the Bank of Mexico.
During the year 2024, remittance sending increased by 2.25%, with Mexico capturing a total of 64 billion 745 million dollars by the end of the year. This negative variation was observed for the first time in the same month since 2015, reflecting a decline of 1.1% in the number of shipments and 3.8% in the average value of the remittance, which was 375 dollars, according to Banxico.
In comparison to November, remittances suffered a decline of 3.8%, marking two consecutive months of decrease. The total flow of remittances in 2024 was lower than the accumulated value in the twelve months leading up to November of that year, as indicated by the central bank.
