ZCZC
BCN-13
MEXICO-ECONOMY-REMITTANCES
Remittances to Mexico hit record in 2018
MEXICO CITY, Feb 2, 2019 (BSS/AFP) – Mexicans living abroad sent a record
$33.5 billion home in 2018, up 10.5 percent from the year before, the central
bank said Friday.
Remittances to Mexico — mostly sent from the United States — had also
set a record in 2017.
The figure has risen briskly since President Donald Trump took office in
January 2017 after a campaign in which he threatened to start confiscating
the money Mexicans send home from to fund his promised wall on the US-Mexican
border.
An estimated 12 million Mexicans live in the United States. The money they
send home is one of Mexico’s main sources of foreign currency, along with
tourism and oil revenues.
Mexico receives more remittances than any country in the world except
India and the Philippines, according to World Bank data.
BSS/AFP/HR/0955