Monday, June 23, 2025

Remittances up 11% in June to US $3.53 billion

The Bank of México said Monday that remittances by Mexicans living outside Mexico — a significant portion of Mexico’s GDP — rose to US $3.53 billion in June, 4.7% higher than in May and 11.1% higher than in June 2019.

The numbers come as a bit of better news amid a lot of bad news regarding the Mexican economy: the latest Bank of México survey of private sector economists predicts a decline in the gross domestic product of 10.1%, up from 8.97% a month earlier.

The bank said Mexicans living abroad sent 19.07 billion pesos home during the first half of the year, which represents a 10.55% increase from the same period in 2019.

The money comes principally from Mexicans who live and work in the United States and is the second highest source of foreign exchange after automobile exports. President López Obrador has called migrant Mexicans “living heroes” for their economic support of the country.

SourcesMilenio (sp)

Have something to say? Paid Subscribers get all access to make & read comments.
An AI robot hand reaches out to touch a human hand

How do we make sure that AI doesn’t make us dumber? A perspective from our CEO

11
AI can make us smarter or it can make us lazier. CEO Travis Bembenek shares how Mexico News Daily is working to offer readers the good kind of AI.
A screwworm fly, possibly

Fight against screwworm ramps up with reopening of sterile fly plant in Chiapas

0
Sterile flies were key to Mexico's past success in exterminating screwworm. Now that the pest is back, the US is offering $21 million to reopen the production facility.
CJNG cartel leaders El Mencho and Ricardo Ruiz

US sanctions CJNG leaders, citing TikTok influencer’s murder

3
People in the United States are now blocked from any transaction involving property that the five sanctioned cartel leaders have an interest in.