Mexican Migrants Sent Record $36B In Remittances In 2019

Instability in Mexico and Latin America drove a wave of migrant workers to send a record amount of remittances to their home countries in 2019. Mexico’s Central Bank reported that Mexican migrants working overseas sent home a record-high $36 billion in remittances in 2019, a 7 percent increase from 2018.

According to a study from the Inter-American Dialogue, between 2016 and 2017, remittances to Mexico increased by 12 percent, a sharp rise from previous years.

States with the largest population of Mexican-born immigrants rank highest in remittance transfers. The states with the highest transfers include California ($8.84 billion), Texas ($4.3 billion), Illinois ($1.4 billion), New York ($1.8 billion), Florida ($1.15 billion), and Georgia ($1.0 billion). California accounted for nearly 29 percent of the total remittances to Mexico from 2014 to 2017. During this same time period, the percentage of the Mexican-born population in the U.S. dropped slightly by 1.3 percent while remittances spiked to nearly 8 percent.

Beginning in the late 1980s, Mexico transitioned from a closed economy to a market-oriented economy. Mexico further accelerated its market-based economy by entering into the NAFTA agreement in 1994 and exports became a major source of revenue. Still, Mexico is highly dependent on the United States for exports and remittances. Remittances replaced oil exports as Mexico’s largest source of foreign exchange, according to a Congressional Research Service report.

Trump administration blocks Venezuela from paying Maduro’s legal bills amid federal charges

Murder suspect in Baltimore robbery spree was on probation, records show

Authorities preparing to return home of Nancy Guthrie back to family: report

Some of the most notable guests at Trump’s 2026 State of the Union: photos

Trump’s ‘war on fraud’ draws range of reactions during SOTU speech

Former top Harris adviser ignites backlash over ‘political props’ comment targeting USA men’s hockey team

The Laundering of Iran’s Atrocities: How Western Voices Became a Shield for the Islamic Republic’s Mass Killings

Capitol Tea: Jim Justice, of Babydog fame, offers to take over Tillis dog parade

Karoline Leavitt Drops List of Policies Dems Wouldn’t Stand For, Including Voter ID and Fewer Murders

GOP to campaign on Democrats picking illegal immigrants over Americans at State of the Union

Thune floats White House lifeline for unpaid DHS workers as shutdown drags on

Brandon Herrera calls for GOP leadership to pressure Tony Gonzales to exit Texas race after House of Cards-level scandal

Former CNN Host Don Lemon is Being Sued for Emotional Distress Following Minnesota Church Stunt: ‘Appeared to Take Satisfaction in the Disruption’

Even The New York Times Admitted That Trump Trapped Dems During SOTU When They Refused to Stand for Americans

Sen. Chuck Schumer Defends Democrats’ Decision to Sit During SOTU, After Trump Invited Them to Stand if They Support Americans Over Illegals

From foreign tourism, Mexico receives about $25 billion while only $22.4 billion in annual petroleum exports.

Mexico’s poverty rate remains high despite its openness to the international economic system. The poverty rate stands at 41.9 percent as of 2018 according to the International Monetary Fund. People working in the subsistence farming or informal sector of the economy are among Mexico’s poorest citizens and are especially reliant on remittances from the U.S. to pay for basic essential needs.

Remittance flows could remain high with Mexico’s economy projected to remain sluggish. The International Monetary Fund predicts meager economic growth for Mexico at 1 percent in 2020. Mexico’s 2019 third-quarter growth remained stagnant as well.

The rise in remittances from the United States to Mexico is happening alongside an overall downside trajectory in immigration from Mexican migrants to the U.S.

Across the wider Latin America region, remittances grew by 4.7 percent in 2019, according to a study published by Manuel Orozco, director of the Migration, Remittances, and Development Program at the Inter-American Dialogue.