Remittances sent to Yucatan set a new record

The arrival of remittances to Yucatan registered the best first quarter of the last four years, 84.2 million US dollars (1,684 million pesos), from January to March 2022, reported the National Bank of Mexico (Banxico).

The volume of dollars that entered the state through remittances in the first quarter of 2022 is an unprecedented balance for a similar period, however, they register a slowdown of 11.6 percent, compared to the last quarter of last year.

From October to December of last year, the state received 95.3 million dollars, therefore, the 84.2 million US dollars of the first quarter of 2022 just ended, representing a decrease in the sending of dollars from countrymen to Yucatan.

However, it is the best first quarter in the last four years, much higher than the years 2020 and 2021, during the most critical of the Covid-19 pandemic.

Remittances during the first quarter in Yucatan (according to Banxico):

• 1st quarter 2018: 45.0 million US dollars
• 1st quarter 2019: 48.5 million US dollars
• 1st quarter 2020: 58.3 million US dollars
• 1st quarter 2021: 66.1 million US dollars
• 1st quarter 2022: 84.2 million US dollars

Banxico reported that the spill was driven both by a greater number of shipments and by an increase in the average amount of operations carried out by Yucatecans who work mainly in cities in the United States.

Last year, remittances to Yucatán registered a new record, despite the Covid-19 pandemic, reaching 335.1 million US dollars (6,702 million pesos).

In 2020, the remittances that reached the state amounted to 243.7 million dollars (4,874 million pesos), which growth of 37.8 percent compared 2020 to 2021.

Remittances received in Yucatan per year (according to Banxico):

• 2021: 335.1 US million dollars
• 2020: 243.7 US million dollars
• 2019: 221.5 US million dollars
• 2018: 205.5 US million dollars

In 2021, of the three states of the Yucatan Peninsula, the one that captured the most resources for remittances was Quintana Roo, as it achieved 340.6 million US dollars, and Campeche with 147.5 million dollars.

TYT Newsroom