Mexico: Remittances Rise

Remittances to Mexican families from workers in the US rose 21% year-on-year in the first quarter to $4.1 billion. Fully 88% of remittances were sent through electronic media, 11% were sent through money orders and 1% cash transfers. Mexico’s Central Bank reported 12.3 billion individual remittance transactions in the first three months of the year, with the average amount per transaction at $330.