MEXICO CITY, Mexico—In the first half of the year, Mexicans living abroad sent remittances for amounts greater than the country’s oil sales and foreign direct investment, the Bank of Mexico reported.
According to the Bank of Mexico, family remittances amounted to $23,618 million between January and June 2021, exceeding $18,433 million that, according to the Ministry of Economy, the country received in the same period last year.
The central bank stated that migrants were consolidated as the main generators of foreign currency in Mexico, since the dollars that entered through this route also exceeded those obtained by means of oil exports, sales of agricultural products to other countries and revenues generated by foreign tourism.
Remittances, unlike other items that have become strongly affected at some point in the pandemic, have strengthened significantly, Plenglish.com explained.