The figure reported by Banxico, in addition to being the highest for a month of January since it was recorded in 1995, also represented an annual increase of 3.1 percent.
The flow of remittances to the country historically started in 2024 with an amount of almost four thousand 575 million dollars, according to the Bank of Mexico (Banxico).
The figure reported by the Mexican central financial institution, in addition to being the highest for January since records were recorded in 1995, also represented an annual increase of 3.1 percent.
During this period, according to Banxico, the average remittance was 389 dollars, an amount 3.9 percent higher than January 2023 when 4.435 million dollars were sent.
Most of the remittances were sent through digital channels, although shipments of money in cash or kind were also recorded, which is when Mexican nationals send their relatives back home clothing, and footwear, among other items.
Last year, the country received around 63,312.6 million dollars in remittances, 7.5 percent more than in 2022, where Guanajuato was positioned as the entity with the highest amount received, followed by Michoacán and Jalisco.
For this year, Citibanamex analysts expect that the flow of remittances to Mexico will reach an approximate amount of 67 billion dollars, the equivalent of a growth of 5.8 percent compared to what was registered in 2023.
They also hope that all the resources sent by Mexicans immigrants will be one of the main drivers of internal consumption in the country, amid an economy with high inflation and interest rates.
San Miguel Times
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