In 2024, 64,745 million dollars arrived in Mexico for remittances, the figure represented a growth of 2.3% compared to 2023.
In December alone, the arrival of remittances was 5,227.8 million dollars, a figure below market expectations, according to Monex.
“While flows are usually determined by a favorable seasonal pattern, the deceleration (December) seems to be explained by the decision to advance shipments before the previous month and the uncertainty of new immigration policies in the United States,” Banorte said.
The bank’s analysis highlights that there are winds against remittances: a significant increase in migrants and deportations and that measures are hardened to send remittances, as in Florida, where it seeks to request official identification before sending money.
“A possible strategy for some migrants would be to send the greatest amount of resources to be deported,” said Banorte.
BBVA estimates that remittances will have a 3% growth with downward biases due to a lower absorption of Mexican labor in the United States observed in the last year.
“The remittances already accumulate 14 months pointing towards a slowdown, and is not explained by actions carried out by the current federal administration in the United States. We consider that what President Trump’s immigration policy does will only marginally affect the volume of Mexican migrants in the United States in the United States And the amount of remittances that arrive in Mexico, “he says.
