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August remittances set a new record at US $4.74 billion

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Remittances from Mexicans working abroad continued their steady upward trend in August and set a new monthly record, according to the Bank of México.

Total for the month was US $4.74 billion, up 32.7% over August 2020. It lifted the total for the year to $32.9 billion, an increase of 24.8% over the same period last year.

Remittances sent during the 12 months ending August 31 came to $47.1 billion, up from $45.9 billion in the previous 12-month period.

The August figure, up 4.5% over July’s total, was well above the $4.4-billion median estimate by economists in a Bloomberg survey.

Mexico News Daily

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