In 2024, the personal remittances received in Mexico increased by 1.4 billion U.S. dollars (+2.1 percent) since 2023. While the growth is slowing down, with 67.64 billion U.S. dollars, the personal remittances received are at their peak in the observed period. Personal remittances comprise personal transfers and compensation of employees. Personal transfers include all current transfers between resident and nonresident individuals, while the compensation of employees refers to the income of employees who are employed in an economy where they are not resident, as well as of resident employees employed by nonresident entities.

In 2023, the value of personal remittances paid in Mexico increased by 172 million U.S. dollars (+19.5 percent) since the previous year. With one billion U.S. dollars, the value thereby reached its highest value in the observed period. Remittances are flows of money between immigrants and their relatives. They refer to personal transfers between resident and nonresident individuals, and the compensation of employees who are employed in an economy where they are not resident, and of residents employed by nonresident entities.

Graph and download economic data for Remittance Inflows to GDP for Mexico (DDOI11MXA156NWDB) from 1979 to 2020 about remittances, Mexico, and GDP.

The United States was Mexico's main destination and country of origin for remittances in 2021, according to a country ranking on the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about *** in ***** people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For Mexico, the top five recipient countries for remittances in 2021 included the United States, Guatemala, Honduras, France, and Spain. Mexico's five main sources for remittances were - by a large margin - the United States, followed by Canada, Spain, Germany, and France.

Incoming remittances declined in Mexico in 2024, for the first time in several years, although its growth did slow down before to a 3-year CAGR of **** percent. This is according to a calculation that looks at the share of remittance inflow in the country's GDP over time, and looks at this share's CAGR development. Note that the figures shown here are "personal" remittances and not "total" remittances. While technically different, oftentimes the two types of remittances have the same figures due to a general lack of data tracking. Remittances had the most impact on Mexico's economy in 2023, when incoming money transfers from abroad made up roughly **** percent of the country's GDP.

Mexico Workers Remittances: Average data was reported at 312.000 USD in Feb 2019. This records a decrease from the previous number of 313.000 USD for Jan 2019. Mexico Workers Remittances: Average data is updated monthly, averaging 318.000 USD from Jan 1995 (Median) to Feb 2019, with 290 observations. The data reached an all-time high of 410.000 USD in Dec 2000 and a record low of 267.000 USD in Oct 1999. Mexico Workers Remittances: Average data remains active status in CEIC and is reported by Bank of Mexico. The data is categorized under Global Database’s Mexico – Table MX.JB009: Workers Remittances.

Mexico MX: BoP: Current Account: Secondary Income: Financial Corporations, Non Financial Corporations, Households & NPISHs: Personal Transfers: ow Workers Remittances data was reported at 32.471 USD bn in 2018. This records an increase from the previous number of 29.484 USD bn for 2017. Mexico MX: BoP: Current Account: Secondary Income: Financial Corporations, Non Financial Corporations, Households & NPISHs: Personal Transfers: ow Workers Remittances data is updated yearly, averaging 5.768 USD bn from Dec 1979 (Median) to 2018, with 40 observations. The data reached an all-time high of 32.471 USD bn in 2018 and a record low of 0.000 USD mn in 1979. Mexico MX: BoP: Current Account: Secondary Income: Financial Corporations, Non Financial Corporations, Households & NPISHs: Personal Transfers: ow Workers Remittances data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Mexico – Table MX.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.

Western Union was used the most for incoming remittances to Mexico, although its market share stayed relatively unchanged in 2025. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels going towards Mexico. The ***** countries from which Mexico received the highest value of remittances are the U.S., Canada, and Spain. Remittances are a relatively uncharted topic, though. While figures exist on the total traffic between individual countries ("corridors"), exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore estimates.

Mexico MX: BoP: Current Account: Secondary Income: Financial Corporations, Non Financial Corporations, Households & NPISHs: Personal Transfers: ow Workers Remittances: Debit data was reported at 999.561 USD mn in 2018. This records an increase from the previous number of 806.223 USD mn for 2017. Mexico MX: BoP: Current Account: Secondary Income: Financial Corporations, Non Financial Corporations, Households & NPISHs: Personal Transfers: ow Workers Remittances: Debit data is updated yearly, averaging 0.000 USD mn from Dec 1979 (Median) to 2018, with 40 observations. The data reached an all-time high of 1.002 USD bn in 2014 and a record low of 0.000 USD mn in 2012. Mexico MX: BoP: Current Account: Secondary Income: Financial Corporations, Non Financial Corporations, Households & NPISHs: Personal Transfers: ow Workers Remittances: Debit data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Mexico – Table MX.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.

Incoming remittances towards Mexico in the third quarter of 2023 increased by over *** percent on an annual basis, a higher growth rate than in the previous quarter. This is according to a calculation that looks at personal money transfers and cross-country compensation of employees, on a quarterly basis. These two types of payments together form "personal" remittances. While technically not the same as "total" remittances, oftentimes the two types of remittances have the same figures due to a general lack of data tracking. Mexico had an estimated personal remittance inflow of **** billion U.S. dollars in the third quarter of 2023.

Money transfers to other countries outside the United States were nearly ** times higher in 2021 than money received. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about *** in ***** people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For the United States, the top five recipient countries for remittances in 2021 included Mexico, India, Guatemala, the Philippines, and China. The five main sources for remittances in the U.S. were Mexico, Canada, the UK, Puerto Rico, and Germany.

Low-and middle-income (LMI) countries in South Asia received more remittances than any other LMI region in the world, such as Latin America. The latter region received approximately *** billion U.S. dollars from other countries, most of which likely comes from the U.S. to Mexico - the biggest remittance corridor in the world. Predictions are that global remittances will increase by ** billion U.S. dollars between 2022 and 2024.

Mexico was Guatemala's main destination for remittances in 2021, according to a country ranking on the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For Guatemala, the top five recipient countries for remittances in 2021 included Mexico, El Salvador, Honduras, the United States, and Nicaragua. Guatemala's five main sources for remittances were the United States, Mexico, Belize, Canada, and Spain.

Commercial-based cross-border payments in North America grew at a higher rate than the consumer-led transactions in North America between 2022 and 2023. The source mentions the importance of the remittances from the United States to Latin America – with the United States-Mexico payments corridor being regarded as the largest in the world. Whether the figures shown here reflect is unclear, as the source does not clarify: Mexico is not mentioned, making it unclear whether the source put the country under North America or Latin America. The source does add that the highest global growth after 2022 is expected in ****************, due to increasing online shopping and international travel. Consumer categories, it continues, also have higher margins when compared to B2B.

Guatemala was the main destination for remittances from Honduras in 2021, according to a country ranking on the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about *** in ***** people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For Honduras, the top five recipient countries for remittances in 2021 included Guatemala, El Salvador, Nicaragua, the United States, and Mexico. The **** main sources for remittances towards Honduras were the United States, Spain, Mexico, Nicaragua, and Canada.

The U.S. was Colombia's main country of origin for remittances in 2021 but not its main destination, according to a country ranking on the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about *** in ***** people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For Colombia, the top five recipient countries for remittances in 2021 included Spain, Ecuador, the United States, France, and Mexico. Colombia's **** main sources for remittances were - by a large margin - the United States and Venezuela, followed by Spain, Ecuador, and Chile.

Remittances sent to El Salvador were nearly ** times larger than the outgoing value in 2021, according to a ranking that maps the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about *** in ***** people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For El Salvador, the top five recipient countries for remittances in 2021 included Guatemala, Honduras, Nicaragua, the United States, and Mexico. El Salvador's main source for remittances - accounting for almost ** percent of all inflow - was the United States.

The biggest U.S. remittance receivers in Latin America are Mexico and Guatemala, with both countries receiving over ** billion U.S. dollars. This is according to a database that tries to model money sent internationally from one party to another. Remittances typically refer to money sent from migrant workers back home to family and friends, although there are other forms of this. Remittances can, for example, include pensioners who have a second home in a foreign country. Nevertheless, Asia Pacific is often referred to as the main receiver of remittances.