“The data observed in the last 12 months, since November 2023, show a clear trend of slowdown in the flow of remittances to Mexico,” BBVA Research reported in a study.
The bank highlighted that the slowdown in money transfers has a structural origin such as the integration of new Mexican migrants, mainly undocumented, into the United States labor market.
Remittance shipments to October have not yet considered the effect of the presidential elections in the United States. “Therefore, there is no possible Trump effect in these data,” he added.
In the accumulated period from January to October, remittances accumulated 54,108.6 million dollars, which meant a growth of 2.3% compared to the same period in 2023.
