Remittances to Mexico Rise 7.2 Percent in First 9 Months of 2014 Agencia EFE
go to original November 5, 2014

Remittances sent to Mexico by emigrants totaled $17.58 billion in the first nine months of 2014, up 7.2 percent compared to the same period last year, the Bank of Mexico said this week.

The average remittance was $293.73 in the January-September period, down slightly from the $294.29 average registered in the same period last year, the central bank said.

The number of transactions, however, climbed from 55.7 million in the first nine months of 2013 to 59.87 million in the same period this year, with the majority of remittances sent via electronic funds transfers, the central bank said.

Mexico received $5.96 billion in remittances during the third quarter of 2014, up 4.9 percent from the same period last year, the central bank said.

Mexico received $21.89 billion in remittances in 2013, a figure that was down 3.8 percent compared to 2012, when emigrants sent $22.44 billion to their homeland.

Remittances sent by Mexicans living abroad, mainly in the United States, are the country's second-largest source of foreign exchange, after oil, and help cover the living expenses of millions of people.

See the original at GlobalPost

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