Mexico: Family remittances – Favorable results extend to February

  • Remittances totaled US$3,910.0 million (+23.3% y/y). The average amount rose, while volumes fell in absolute terms

  • Sequentially, inflows deaccelerated marginally, underpinned by economic and labor market dynamism in the US

  • We stay positive on remittances for 2022, although cautions for 2H22 on high inflation in the US

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