More Remittances Sent to Mexico than Any Other Latin American Country
June 1, 2011 § Leave a comment
With approximately 11 million Mexicans living and working in the United States, it’s no surprise that Mexico is the top receptor of remittances of any Latin American country per year. Since April of 2010, Mexico has received an estimated 1.87 billion dollars in remittances.
According to data shown by the Mexican central bank today, remittances to Mexico increased by 4.66% in April, bringing the total to seven consecutive months of growth supported by the stabilization of the U.S. economy.
The majority of remittances entering Mexico are sent from the United States and are one of the country’s main sources of income, along with oil exports and direct foreign investment.