Remittances in Mexico decreased to 14268.95 USD Million in the first quarter of 2025 from 16386.60 USD Million in the fourth quarter of 2024. This dataset provides - Mexico Remittances - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 Mexican states of Michoacán, Jalisco, and Guanajuato were the main destinations of remittances sent from abroad. This is according to third-party estimates made using information from Mexico's central bank, the Banco de México. Michoacán received almost *** billion U.S. dollars in money transfers from foreign residents, whereas the value of remittances received in Mexico City reached about *** billion dollars. It should be noted that remittances as a topic are difficult to track. It is therefore likely numbers can differ between sources. Partially this is due to definition, as an organization like the World Bank only investigates "personal remittances", which it calculates using migrant stock. It is unclear whether Mexico's central bank tracked transactions, or calculated them using a domestic survey.

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 -4.4 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 3.69 percent of the country's GDP.

Remittance inflows to GDP (%) in Mexico was reported at 3.9442 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Mexico - Remittance inflows to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Digital remittances that did not involve cash in either end of the process made up only ***** percent of all remittances towards Mexico. 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 receives the highest value of remittances include 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 Workers Remittances: Sinaloa data was reported at 213.900 USD mn in Dec 2018. This records an increase from the previous number of 197.110 USD mn for Sep 2018. Mexico Workers Remittances: Sinaloa data is updated quarterly, averaging 125.100 USD mn from Mar 2003 (Median) to Dec 2018, with 64 observations. The data reached an all-time high of 213.900 USD mn in Dec 2018 and a record low of 69.249 USD mn in Mar 2003. Mexico Workers Remittances: Sinaloa data remains active status in CEIC and is reported by Bank of Mexico. The data is categorized under Global Database’s Mexico – Table MX.JB010: Workers Remittances: By States.

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 Workers Remittances: Chihuahua data was reported at 254.072 USD mn in Dec 2018. This records a decrease from the previous number of 261.227 USD mn for Sep 2018. Mexico Workers Remittances: Chihuahua data is updated quarterly, averaging 116.503 USD mn from Mar 2003 (Median) to Dec 2018, with 64 observations. The data reached an all-time high of 263.561 USD mn in Jun 2018 and a record low of 50.515 USD mn in Mar 2003. Mexico Workers Remittances: Chihuahua data remains active status in CEIC and is reported by Bank of Mexico. The data is categorized under Global Database’s Mexico – Table MX.JB010: Workers Remittances: By States.

Prior research indicates the enforcement of immigration policy by the host country affects immigrants’ political behavior. Yet, its effect on their economic behavior – namely, remittances – remains understudied. To fill this gap, we theorize on remittances’ political determinants in the host country. In general, we argue remittance flows vary with subnational enforcement of the host country’s immigration policy. In particular, immigrants insure themselves against deportation by remitting more in highly punitive locales. We test our theory in the context of the United States’ Secure Communities program, a nationwide policy involving local-federal partnerships to identify and deport undocumented immigrants. We expect greater remittance inflows to Mexican states with more deportees under the program. Instrumental variable analysis affirms our expectation. Mexican states with more deportees under Secure Communities receive significantly more remittances than other Mexican states. The analysis illuminates the indirect effects of host countries’ enforcement of their immigration policy.

Western Union was used the most for incoming remittances to Mexico, although its market share stayed relatively unchanged in 2024. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels going towards Mexico. The three 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: Average Transaction Cost of Sending Remittances to a Specific Country data was reported at 4.469 % in 2017. This records a decrease from the previous number of 6.354 % for 2016. Mexico MX: Average Transaction Cost of Sending Remittances to a Specific Country data is updated yearly, averaging 5.560 % from Dec 2011 (Median) to 2017, with 7 observations. The data reached an all-time high of 6.354 % in 2016 and a record low of 4.410 % in 2013. Mexico MX: Average Transaction Cost of Sending Remittances to a Specific Country data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Mexico – Table MX.World Bank.WDI: Payment System. Average transaction cost of sending remittance to a specific country is the average of the total transaction cost in percentage of the amount sent for sending USD 200 charged by each single remittance service provider (RSP) included in the Remittance Prices Worldwide (RPW) database to a specific country.; ; World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org; Unweighted average;

Personal remittances, received (% of GDP) in Mexico was reported at 3.6507 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Mexico - Workers' remittances and compensation of employees, received (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Mexico Workers Remittances: Tamaulipas data was reported at 193.083 USD mn in Dec 2018. This records a decrease from the previous number of 212.929 USD mn for Sep 2018. Mexico Workers Remittances: Tamaulipas data is updated quarterly, averaging 122.604 USD mn from Mar 2003 (Median) to Dec 2018, with 64 observations. The data reached an all-time high of 261.355 USD mn in Jun 2014 and a record low of 49.415 USD mn in Mar 2003. Mexico Workers Remittances: Tamaulipas data remains active status in CEIC and is reported by Bank of Mexico. The data is categorized under Global Database’s Mexico – Table MX.JB010: Workers Remittances: By States.

Multiple countries across the world received remittances worth more than three percent of their GDP in 2023, according to estimates. For countries like Tonga or Lebanon, money transfers received from outside the country - for example, but not limited to, from migrant workers - were worth more than one third of the country's economy. That said, remittance figures are difficult to establish. For instance, official estimates tend to focus on transfers through official channels such as banks. This may mean that P2P money transfers or money sent via cryptocurrencies is not included in these figures. Additionally, remittances can also include money transfers not sent by migrant workers. A pensioner living in a second home abroad but who still receives money from his/her country of origin can technically also be counted as a remittance. The numbers provided here do largely seem to focus on migration.

The labor markets in the US and Mexico are closely linked through migrant workers and remittances and the changes in remittance flow may alter labor allocations in the origin households. In this paper, we investigate how the prevalence of the Covid-19 epidemic in the US affected the local labor market in Mexico. We construct a Mexican municipality-level measure of the exposure to Covid-19 in the US using data on Covid-19 prevalence across US states and data on migrants' destinations across the US states. We find a positive effect of Covid-19 exposure in the US on the hours worked among workers in Mexico yet no significant effects were found for the local wages. We also find that the effect varies across subgroups which indicates that the responses in hours worked depend on the household dynamics, the nature of the occupation-specific tasks, and the migration intensity. Finally, we document the potential mechanism behind the effect on the hours worked, which is through the changes in remittances sent to the origin municipalities in Mexico.

Personal remittances, received of Mexico improved by 2.11% from 66,237,847,600 US dollars in 2023 to 67,637,913,797 US dollars in 2024. Since the 6.59% jump in 2014, personal remittances, received shot up by 164.66% in 2024. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

Mexico Workers Remittances: Quarterly: Total data was reported at 8.766 USD bn in Dec 2018. This records an increase from the previous number of 8.460 USD bn for Sep 2018. Mexico Workers Remittances: Quarterly: Total data is updated quarterly, averaging 5.437 USD bn from Mar 1996 (Median) to Dec 2018, with 92 observations. The data reached an all-time high of 9.058 USD bn in Jun 2018 and a record low of 932.753 USD mn in Mar 1996. Mexico Workers Remittances: Quarterly: Total 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.

Personal remittances, paid (current US$) in Mexico was reported at 1308403827 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Mexico - Workers' remittances and compensation of employees, paid - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Mexico Workers Remittances: Electronic Transfers data was reported at 2.336 USD bn in Feb 2019. This records a decrease from the previous number of 2.339 USD bn for Jan 2019. Mexico Workers Remittances: Electronic Transfers data is updated monthly, averaging 1.670 USD bn from Jan 1995 (Median) to Feb 2019, with 290 observations. The data reached an all-time high of 3.103 USD bn in May 2018 and a record low of 127.972 USD mn in Dec 1995. Mexico Workers Remittances: Electronic Transfers 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.