Remittances to Mexico Rise 7.1% in First 10 Months of 2014

Remittances sent to Mexico by emigrants totaled $19.62 billion in the first 10 months of 2014, up 7.19 percent compared to the same period last year, the Bank of Mexico said.
Mexico received $2.03 billion in remittances in October, a figure that was up 6.5 percent from the $1.91 billion received in October 2013.
The average remittance was $293.41 in the January-October period, up slightly from the $293.29 average registered in the same period last year.
The number of transactions, however, climbed from 62.4 million in the first 10 months of 2013 to 66.9 million in the same period this year, with the majority of remittances sent via electronic funds transfers, the central bank said.
Mexico received $21.89 billion in remittances in 2013, a figure that was down 3.8 percent compared to 2012, when emigrants sent $22.44 billion to their homeland.
Remittances sent by Mexicans living abroad, mainly in the United States, are the country’s second-largest source of foreign exchange, after oil, and help cover the living expenses of millions of people.

Source: LAHT

One comment

  1. This speaks much for the Mexican government’s displeasure with the U.S. deporting so many illegal immigrants crossing over the southern U.S. border, and U.S. border states sending their National Guard troops to guard the border against people entering the U.S. illegally. The Republican house majority is attempting to un-fund any Obama amnesty for these undocumented immigrants (over 11 million ) , and after the first of the year, the Republicans will have majority in both houses of congress.

    Mexican immigrants take jobs away from U.S. citizens, and also obtain welfare as they send money to their families in Mexico. Today, some 40 percent of Americans of working age do not have jobs, and many jobs pay les than welfare, and thus they will not accept work. With the minimum hourly wage laws in effect, businesses are replacing workers with robots.

    In San Jose CA, the police just bulldozed one of the largest homeless encampments in the U.S. . In our shopping district two blocks from our home, one of the best districts in San Francisco, the street is often lined with homeless beggars asking for food. I have not experienced this in all my years vacationing in Puerto Vallarta, where the streets are much cleaner than in San Francisco.

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