Money sent home by Mexicans working abroad, most of them in the United States, grew 3 percent in July compared with the same month a year earlier, according to figures released by Banco de México (BdeM), the country’s central bank.
Remittances have become one of the most important sources of foreign income for Mexico in recent years, rivaling revenue from oil exports and foreign direct investment. Millions of Mexican families, particularly in rural states, depend on these transfers to cover everyday expenses such as food, housing, health care, and education.
The uptick in July suggests that the flow of dollars into Mexican households remains resilient, even as economic conditions in the United States—where the vast majority of these funds originate—continue to shift. Analysts often watch remittance trends closely, since they can reflect the strength of the US labor market as well as the size and stability of the Mexican immigrant workforce there.
The central bank did not break down the July report by state or by the exact dollar amount transferred, but the year-over-year increase points to continued growth in this vital economic lifeline for the country.
For the full report and additional details, read the original story at jornada.com.mx.
Source: Remesas crecen 3% en julio: BdeM (jornada.com.mx). English version produced with AI assistance.
Image: Johan G, BY 2.0 (via Openverse).