* Mexico’s central bank (Banxico) has reported that the country received US$28.77bn in remittance inflows from Mexican nationals residing abroad in 2017. The new remittance figure is 6.59% higher than that registered in 2016 and a new record. A Banxico press release said that the average remittance in 2017 was for US$308, which was also higher than the US$295 registered in 2016. Remittance inflows into Mexico mainly come from the US, and Mexican economists have attributed the surge in remittances last year to the fears by Mexican nationals living in the US that they might be deported or that remittances might start being taxed by the US government led by President Donald Trump as part of its efforts to clamp down on illegal migration into the US.
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