(PHOTO: radiozocalo.com)
Fears over United States President Donald Trump’s policies on immigration and other themes drove remittances to an all-time high in 2017.
Mexicans working abroad, mostly in the United States, sent US $28.771 billion to Mexico, an increase of 6.6% over the 2016 figure of $26.993 billion, according to the Bank of México.
In December alone, remittances totaled $2.604 billion, up 11% over December 2016.
The majority of the remittances were made via electronic transfer, of which there were 93.42 million, an increase of 2% over the year before.
The average remittance amount was $308.
Economist Alejandro Cervantes of the financial services company Banorte said several factors influenced the increase in remittances, including Trump’s immigration rhetoric, the peso’s decline in value and high employment in the United States.
Cervantes explained that many consider the transfers as a form of savings, and sent more money home fearing deportation.
The state of Michoacán led in terms of remittance amounts at $2.915 billion. Jalisco was second with $2.797 billion, followed by Guanajuato with $2.559 billion.
Source: El Universal
Comments
more recommended stories
Merida Airport averages 8,300 daily passengersPrior to the start of the.
More than 20 Mérida subdivisions are located in areas of high risk of floodingMany of these subdivisions are very.
90 million pesos to be invested in the Cozumel AirportThe Manager of the Cozumel airport,.
One dead after another hunting accident in YucatanOn Sunday, June 26th, a 67-year-old.
Democrats who could run for president in 2024Joe Biden’s universal name ID helped.
Three systems in the Atlantic forming around the Yucatan PeninsulaForecasters are watching a disturbance in.
Kanasín police officers prevent a man from committing suicide on a Periférico bridgeA man climbed the bridge located.
Alvaro Leyva, a negotiator between the Marxist FARC rebels and the Colombian government announced as new cabinet memberColombia’s leftist president-elect Gustavo Petro named.
Rudy Giuliani is assaulted by a grocery store employee In Staten IslandControversial former New York City Mayor.
Yucatan’s Ie-Tram transport system will be the only one of its kind in all of Latin AmericaMexico’s Yucatán governor Mauricio Vila has.
Leave a Comment