Mexican migrants sent record $36B in remittances in 2019

Mexican migrants sent record $36B in remittances 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.

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).

Mexico’s poverty rate remains high despite its openness to the international economic system.

The International Monetary Fund predicts meager economic growth for Mexico at 1 percent in 2020.

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