Remittances reached an all-time high in August, adding 4,743 million dollars, which implied an increase of 32.7 percent compared to the 3,574 million of the same month a year before.
According to data from Banco de México (Banxico), in the first eight months of this year the sending of money by compatriots reached 32 thousand 931 million dollars, 24.8 percent more than the 26 thousand 395 million dollars of the same period of one year before. For Alberto Ramos, Goldman Sachs chief economist for Latin America, remittances have supported the current account and private consumption, particularly for low-income families, who have a high propensity to consume and are the overwhelming recipients of such transfers.
“Generous wage / income support fiscal transfers in the United States, a competitive level of the exchange rate, and a deep contraction in activity and employment in Mexico have acted as drivers of US dollar remittances to Mexico. The moderation in activity and the income growth profile in the United States should lead to a moderation in remittance flows to Mexico in the coming quarters ”, he estimated. BBVA analysts detailed that Jalisco ranked first as the entity that received the most remittances in the first half of this year, with 2,490 million dollars, followed by Michoacán and Guanajuato, with 2,318 and 1,955 million dollars, respectively.Banorte analysts reiterated their expectation for this year, in which remittances would reach a record flow of between 48 thousand and 48 thousand 500 million dollars. “Despite some headwinds in the US, the dynamics of remittances remain very strong and suggest significant upward risks to our expectation of inflows all year between 48 thousand and 48 thousand 500 million dollars,” they abounded.
Note: This article have been indexed to our site. We do not claim ownership or copyright of any of the content above. To see the article at original source Click Here
Lipfidence Lip Lightening Cream for Dark Lips|Lip Lightener for Smokers and Non-Smokers | Help fade lip discoloration with Alpha Arbutin & Licorice Extract | Scented+Soothing Mint 10ml/0.33fl.oz
$22.99 (as of March 10, 2025 20:21 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
All-new Amazon Echo Show 15 | A stunning HD 15.6" smart kitchen TV for home organization with Alexa
$299.99 (as of March 10, 2025 19:46 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Amazon.com Gift Card in a Baby Greeting Card (Various Designs)
(as of March 10, 2025 19:46 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
EVEAGE 2-in-1 Undercarriage Pressure Washer Attachment, 16" Pressure Washer Undercarriage Cleaner, Under Car Wash with Extension Wands Wash Mitt, Reversible Pressure Washer Broom Attachment, Black
$58.99 (as of March 10, 2025 19:46 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
