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.

Shooting in Georgia hotel room leaves 1 officer killed, another seriously wounded: ‘Unprovoked attack’

Portland mayor demands ICE leave city after federal agents use tear gas on protesters ‘Sickening decisions’

ICE halts ‘all movement’ due to measles at Texas detention center that held 5-year-old, dad

California AG sues hospital that ended gender transition treatment for minors to comply with Trump policies

Trump backs former critic Sununu in high-stakes swing state Senate race

Deputy AG denies 5-year-old, father has asylum claim after family released from ICE detention

Florida Airbnb host arrested after alleged lewd act with vacuum at Disney-area resort community

Resurfaced photo links Mamdani to Epstein-connected publicist at New York City event

Trump announces two-year closure of Trump Kennedy Center for major renovations

NYPD officers save choking 2-year-old boy, bodycam video shows

Government shutdowns may be fewer, but they’re increasingly disruptive

Trump considers legal action against Michael Wolff and Epstein estate after latest document release

What Tyler Robinson’s defense wants hidden and why prosecutors and media say no in court

‘Christ or Chaos’: Former Pastor of Invaded Minneapolis Church Has a Message for America

How Activists Embed Leftist Ideology in K–12 Schools

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.