Mexican Migrants Sent Home Record $36 Billion in Remittances in 2019

Nation/World
Bank notes of Mexican pesos and U.S. dollars are pictured in Mexico City, on Nov. 8, 2016. (Credit: YURI CORTEZ/AFP/Getty Images)

Bank notes of Mexican pesos and U.S. dollars are pictured in Mexico City, on Nov. 8, 2016. (Credit: YURI CORTEZ/AFP/Getty Images)

Mexican migrants working abroad sent home a record $36 billion in remittances in 2019, an increase of 7% over 2018, when they totaled $33.67 billion.

It’s the highest level of remittances on record.

It’s also greater than the $25 billion in income Mexico receives from foreign tourism, or the country’s $22.4 billion in annual petroleum exports.

Mexico’s central bank said the average amount of each electronic transfer sent home was about $300.

Electronic transfers have largely replaced cash and money orders as the most popular method for sending money home.

Studies suggest that recipients largely use the transfers to pay living expenses.

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