How much money is sent to Mexico from the US?

In 2017, Mexico received almost $30.1 billion in remittances from the US.

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Remittance incomes traditionally help Mexican families deal better with financial emergencies, and the US accounted for 98.6% of the remittances sent to Mexico in 2017.

World Bank data for 2017 shows that Mexico earned almost $31 billion in remittance income during the year, making the country the third largest recipient of remittances next only to China and the Philippines.

Remittance data from US to Mexico

Online money transfer specialists offer relatively inexpensive ways to send money from the US to Mexico. Typically, these specialists offer rates better than banks. WorldRemit, XE Money Transfer and Pangea are just a few of the money transfer providers that allow the sending of money to Mexico. To find a suitable provider, check out our guide for sending money to Mexico.

The table below shows remittance figures from the US to Mexico from 2000-2017.

YearUS to Mexico (in millions)
2000$7,525
2001$10,146
2002$11,029
2003$16,654
2004$19,862
2005$22,742
2006$26,543
2007$26,880
2008$26,041
2009$22,076
2010$22,080
2011$23,446
2012$23,209
2013$23,189
2014$24,802
2015$26,233
2016$28,691
2017$30,600

The table below shows 2017 remittance figures from the US and other countries to Mexico:

Country of originAmount sent to Mexico
United States$30,019,000,000
Canada$156,000,000
Spain$100,000,000
Guatemala$33,000,000
France$26,000,000
United Kingdom$24,000,000
Argentina$23,000,000
Germany$22,000,000
Bolivia$17,000,000
Italy$17,000,000

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Bottom line

Mexico is ranked third globally among the major beneficiaries of remittances from abroad. Much of the country’s remittance income comes from the US. In 2017 alone, the US accounted for almost $31 billion of remittances to Mexico.

For a list of online money transfer specialists that allow the sending of money to Mexico, check out our comprehensive guide to international money transfers.

Source : https://www.worldbank.org/en/news/press-release/2018/04/23/record-high-remittances-to-low-and-middle-income-countries-in-2017

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