Weekly Report - 08 April 2021 (WR-21-14)

MEXICO | Remittances soar. Remittances surged by 20.9% year-on-year in the first two months of 2021 to US$5.35bn, the central bank Banco de México (Banxico) reported on 5 April. This suggests that Mexican expatriates, predominantly the 38m living in the US, have increased the amount of money sent back to relatives at home to mitigate the economic impact of the coronavirus (Covid-19) pandemic. The total of remittances in 2020 was an annual record, hitting US$40.61bn, an increase of 11.4% on the figure for 2019.

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