Incoming remittances to Mexico fell 3.6 per cent from a year earlier in August to 5.452 billion dollars. The number of transfers declined 6.4 per cent, while the average amount increased to 412 dollars. Despite the monthly setback, receipts during January–August were 2.2 per cent higher than a year earlier, reaching 41.802 billion dollars.
Mexico received 5.452 billion dollars in remittances in August, a decline in incoming transfers for the month. Banco de México, the country’s central bank, released the figures on 1 October.[1], [2]
Receipts fell 3.6 per cent from a year earlier. The 13.2 million transactions averaged 412 dollars each. The number of transfers was down 6.4 per cent, while their average value increased 3 per cent.[1]
January–August incoming transfers reached 41.802 billion dollars, up 2.2 per cent from a year earlier. Electronic transfers accounted for 99.1 per cent of the total. Cash and in-kind remittances made up 0.7 per cent, while money orders represented 0.2 per cent.[1]
Remittances sent out of Mexico totaled 126 million dollars in August, up 37.8 per cent from a year earlier. The unadjusted net surplus of incoming over outgoing transfers was 5.326 billion dollars.[1]
After seasonal adjustment, incoming transfers fell 2.3 per cent from July. The adjusted monthly surplus declined from 5.132 billion dollars to 4.987 billion dollars. The central bank classified the figures as provisional.[1]
