Mexico Remittances Rise For Sixth Straight Month
By CU Today Staff —
MEXICO CITY, Mexico--Family remittances to Mexico rose 3% year over year in July to $5.57 billion, marking the sixth consecutive month of annual growth, according to Banxico data cited by MexicoBusiness.news.
The increase was driven by larger transfers rather than more transactions.
Banxico recorded 13.1 million cross-border transactions during July, unchanged from a year earlier, while the average transfer increased 3% to $426. Remittances totaled $36.35 billion during the first seven months of 2026, up 3.1% from the same period last year, MexicoBusiness.news reported.
The gains extend a second-quarter rebound attributed by BBVA México analysts to improving employment conditions for Mexican workers in the United States. Remittances rose 4.1% year over year in June to $5.47 billion, while unemployment among Mexican migrants fell to 3.9% in May, matching historic lows recorded in 2021 and 2022.
Remittances account for approximately 4% of Mexico’s GDP and represent the country’s largest source of foreign currency, according to MexicoBusiness.news. Financial institutions are now preparing for additional U.S. controls expected in September that will require verification and documentation of senders’ identities and immigration status for wire transfers and prepaid-card transactions.
Originally reported by CU Today.