LatinNews Daily - 07 August 2025

*BBVA México, the Mexican branch of Spanish-owned BBVA bank, has released a new yearbook of migration and remittances in which it forecasts that remittances sent to Mexico could fall 5.8% this year to reach US$61bn. BBVA México highlights changes in migration flows due to the mass deportation drive by the US government led by President Donald Trump as a cause. It notes that the number of people apprehended by US Customs and Border Patrol (CBP) on the US border with Mexico in the first half of 2025 is at a record low. According to the yearbook, in 2024, Mexico received a total of US$65bn in remittances, of which 96.6% came from the US and 1.7% from Canada. It estimates that the Mexican immigrant population in the US totalled 12.7m people in 2024, slightly higher than the figures observed between 2007 and 2023, which it says has remained relatively constant at around 12m people. It notes that within the labour market, the Mexican immigrant population is employed in key sectors for the US economy, such as construction, which employs 21% of the Mexican immigrant population, as well as leisure and hospitality (13%) and manufacturing (13%).

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