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Mexicans Abroad Sent a Record $52 Billion Back Home Last Year

  • Foreign workers increased remittances during the pandemic
  • Growth of Mexico’s economy stalled in second half of 2021
Remittances Rising

Mexico received a record $51.6 billion in remittances last year, helping to soften the impact on consumers from a stalled economy.

The money sent by Mexican workers abroad jumped 27% compared to 2020, according to central bank figures published Tuesday. That increase was driven by a variety of factors including U.S. stimulus checks to residents, a desire by Mexican workers to assist their struggling families back at home, and money for foreign migrants stuck in Mexico.