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.

Remittances in Mexico increased to 16122.31 USD Million in the third quarter of 2025 from 15305.01 USD Million in the second quarter of 2025. This dataset provides - Mexico Remittances - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Remittance fees from Remitly on the United States to Mexico corridor were the highest. This is according to a Statista estimate that aims to compare the prices charged for sending international money transfers to Mexico, but then specifically those that were sent from United States. Remitting towards Mexico from the United States using Remitly incurred an average cost of roughly 6.35 percent in the first quarter of 2024. Typically, the fees of money transfer organizations - MTOs - such as Western Union were below those from banks.

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

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.

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.

Actual value and historical data chart for Mexico Remittance Inflows To GDP Percent

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;

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 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: 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.

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.

Monthly and long-term Mexico Remittances data: historical series and analyst forecasts curated by FocusEconomics.

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.

Time series data for the statistic Personal remittances, received (current US$) and country Mexico. Indicator Definition:Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.The indicator "Personal remittances, received (current US$)" stands at 67.64 Billion usd as of 12/31/2024, the highest value at least since 12/31/1980, the period currently displayed. Regarding the One-Year-Change of the series, the current value constitutes an increase of 2.11 percent compared to the value the year prior.The 1 year change in percent is 2.11.The 3 year change in percent is 22.83.The 5 year change in percent is 69.80.The 10 year change in percent is 164.66.The Serie's long term average value is 18.16 Billion usd. It's latest available value, on 12/31/2024, is 272.39 percent higher, compared to it's long term average value.The Serie's change in percent from it's minimum value, on 12/31/1979, to it's latest available value, on 12/31/2024, is +38,113.51%.The Serie's change in percent from it's maximum value, on 12/31/2024, to it's latest available value, on 12/31/2024, is 0.0%.

The Mexico remittance market is projected to grow at 5.66% CAGR during 2024–2029, fueled by high outbound remittances and digital transfer growth.

Personal remittances, paid of Mexico shot up by 21.64% from 1,075,657,232 US dollars in 2023 to 1,308,403,827 US dollars in 2024. Since the 17.78% drop in 2020, personal remittances, paid soared by 102.11% in 2024. Workers' remittances and compensation of employees received are current transfers by migrant workers and wages and salaries of nonresident workers. Data are in current U.S. dollars.

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.

Actual value and historical data chart for Mexico Workers Remittances And Compensation Of Employees Received Percent Of GDP