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.

Rand Paul Puts Aside Differences, Sends Trump a Personal Message Seeking to Partner on Key Proposal

Ben Stiller’s Attempt to Defend Somalis from Trump Backfires as Social Media Users Offer a Suggestion

Pentagon probe into secret Signal chats on Houthi strikes set to drop Thursday as Hegseth faces scrutiny

US asks Lebanon to return Israeli bomb to prevent capture by Russia or China

Bondi blasts discrimination lawsuit from immigration judge: ‘Last time I checked, I’m a woman too’

Trump peace plan passes in Knesset despite boycott over mention of Palestinian statehood

‘Winter Vomiting Disease’ Is Spreading Rapidly in the US, CDC Data Shows

More Immigration Judges’ Heads Roll as Trump Continues Clearing Way for Deportations – At Least 100 Judges off the Bench Since January

Trump admin debuts ‘Fentanyl Free America’ plan as DEA touts impact of Caribbean boat strikes

Bipartisan deal on Obamacare subsidies fades as Republicans push HSA plan

Man charged with attacking NYU student has 16 prior arrests

California Christian college student founds pro-life club after school rejects Students for Life chapter

Patriots Star Calls Attention to Persecuted Christians with Special Cleats: ‘Will You Stand with Them?’

Let’s Roll, Mr. President: ICE Surging Into New Target and the Somalis Are Scared

The Hitchhiker’s Guide to special election results for Tennessee’s 7th Congressional District

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.