Mexico: Family remittances – Above US$ 4 billion for a second month in April

  • Remittances in April stood at US$4,047.6 million, up 39.1% y/y and with a year-to-date advance of 19.1%

  • In our view, results remain very positive. The average amount sent grew 13.6% y/y to US$375, helped by US stimulus

  • We expect inflows to grow around 10% in 2021, reaching close to US$45 billion, with risks still skewed to the upside

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