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  HOME | Mexico

Remittances to Mexico Fall Nearly 15%

MEXICO CITY Remittances sent by Mexicans living abroad, the majority of them in the United States, fell 14.8 percent in the first two months of this year, compared to the same period in 2009, to $2.87 billion, the Bank of Mexico said.

Remittances totaled $1.55 billion in February, a figure that was off 14.1 percent from the $1.8 billion received in the same month last year.

During the first two months of this year, 9.3 million transactions, with an average of $306.40 per remittance, or $31 less than in the first two months of 2009, were registered.

Some 96.2 percent of remittances sent in the January-February period were via electronic transfer and the rest using money orders.

Mexico received $21.18 billion in remittances in 2009, a figure that was down 15.7 percent from the previous year.

Remittances are the No. 2 source of income for Mexico, trailing only oil. EFE
 

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