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Published on Tuesday, February 4, 2020 | Updated on Thursday, February 20, 2020

Mexico | Remittances reached historical record in 2019: 36,049 million dollars

Summary

For the fourth consecutive year, remittances exceeded their historical maximum. 94.6% of remittances come from the US. Michoacán (3,584 md), Jalisco (3,499 md) and Guanajuato (3,286 md) were the main recipients of remittances in 2019. Remittances could grow 6.0% and reach 38.2 billion dollars in 2020.

Key points

  • Key points:
  • For the fourth consecutive year, remittances exceeded their historical maximum.
  • 94.6% of remittances come from the United States, 98.5% are sent by electronic transfers and 74.9% are paid in non-banks.
  • Michoacán (3,584 md), Jalisco (3,499 md) and Guanajuato (3,286 md) were the main recipients of remittances in 2019.
  • Tijuana, Puebla, Morelia and Guadalajara were the municipalities that received the most remittances in 2019.
  • The outflow of remittances from Mexico decreased 1.9%.

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Topics

Documents and files

Report (PDF)

200204_Migration_Watch.pdf

English - February 4, 2020

Report (PDF)

200204_Observatorio_Migracion.pdf

Spanish - February 4, 2020

Authors

JL
Juan José Li Ng BBVA Research - Senior Economist
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