Mexicans in the US sent their relatives $5,003 million dollars in April 2023 | The USA Print

The Bank of Mexico (Banxico), announced that the income from remittances from abroad amounted to $5,003 million dollars in April 2023, which implied an annual increase of 6.3%the lowest advance in five months.

For their part, the remittances sent by residents of Mexico abroad showed an annual decrease of 21.9%by standing at a level of $89 million dollars.

With these results, the surplus of the remittance account of Mexico with the rest of the world was located at $4,915 million dollarshigher than the $4,594 million dollars that was presented in April 2022.

In the fourth month of 2023, remittance income registered a monthly increase of 1.2%, while expenses exhibited a monthly reduction of 28.4%. Thus, in April 2023 the surplus of the remittance account was $5.118 million dollars, which compares with the $5.022 million reported in March.

Regarding the period January – April 2023, the value of income from remittances was $18,974 million dollarshigher than the $17.23 billion observed in the same period of 2022 and which meant an annual expansion of 10.1%.

During the first quarter of 2023, 98.8% of total remittance income was made through electronic transfersadding $18,758 million dollars. For their part, remittances made in cash and kind and money orders represented 0.9 and 0.3% of the total amount.respectively, by registering levels of $167 and $49 million dollars, in the same order.

In the last twelve months (May 2022 – April 2023), the accumulated flow of income from remittances was $60,254 million dollarsan amount higher than the level reported in March of $59,958 million dollars (April 2022 – March 2023).

Regarding remittances sent abroad, the accumulated flow in the last twelve months (May 2022 – April 2023) was $1,157 million dollars, a figure lower than that registered last March of $1,182 million dollars (April 2022 – March 2023 ).

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