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Weekly Report - 08 August 2019 (WR-19-31)


MEXICO | Remittances reach record high. Remittances increased by 3.7% year-on-year to US$16.85bn in the first half of 2019, according to Mexico’s central bank (Banxico). This is the highest total since Banxico’s records began in 1995. Additionally, May 2019 had the highest remittance total of any recorded month at US$3.2bn. The average remittance remained almost the same as last year at US$321, up US$2 on 2018. This implies that the increase in total remittances is mostly down to the larger size of remittances sent and not an increase in their individual value.

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