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LatinNews Daily - 6 May 2025
In brief: Remittances to Mexico increase
*Mexico’s central bank (Banxico) has released new figures which show that Mexico received US$14.27bn in remittances in the first quarter of 2025, up 1.3% year on year. In March 2025, Mexico received US$5.15bn in remittances, representing an annual increase of 2.7%. This compares with US$4.46bn in remittances in February 2025, which was a 0.8% decrease year-on-year. According to Gabriela Siller, the head of economic analysis at Mexican private bank Banco Base “remittances showed a rebound after four consecutive months of decline. However, they continue to show very low annual growth”. In the first quarter of 2025, electronic transfers accounted for 98.8% of the total remittances, reaching US$14.11bn. Remittances in cash and money orders represented 0.9% and 0.3% of the total, respectively, at US$123m and US$37m.
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