More than $5 billion USD dollars in remittances during the first half of the year

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In the midst of high world inflation and fears of a global recession, especially in the United States, Mexicans with assets abroad returned 5 billion 286 million dollars to the country during the third quarter, after having withdrawn resources for 7 billion 489 million dollars during the first half of the year.

Data from the Bank of Mexico (Banxico) indicate that the balance of such assets in bank deposits, financial accounts and credits, among other resources held abroad, is less than what they returned in the same period of 2021, when they returned 13.326 billion dollars.

Banxico highlighted that between July and September 2022, the evolution of the pandemic, particularly in China, as well as its possible impact on global economic activity and supply chains, continued to contribute to maintaining an environment of high uncertainty.

In this environment, international financial markets experienced episodes of increased volatility and a tightening of financial conditions, he said.

This, he explained, reflected the concerns associated with the persistence of high levels of global inflation, with the expectation of accelerated monetary tightening in the main central banks, with a global economic slowdown, and with greater geopolitical tensions around the world.

Nevertheless, he emphasized that the Mexican economy continued to capture resources through the financial account, fundamentally in the areas of direct investment and other investment.

TYT Newsroom