Mexico City.- In the January-August period, the remittance flows registered by the country rose 3.74 percent at an annual rate to 43 thousand 27 million dollars, reveals information from the Bank of Mexico (Banxico).
The annual growth rate in resource shipments lost speed in comparable periods in the first eight months of this year, which was 24.79 percent in 2021, 12.96 percent in 2022 and 8.71 percent in 2023, but the relative increases in the number of transactions and in the value of average remittances was enough for the indicator to have a new maximum.
The number of remittance operations stood at 108.57 million from January to August, increasing 2.76 percent annually, the average value of the remittance reached a maximum of $396, thanks to growing 1.02 percent compared to the same period in 2023. With seasonally adjusted data, remittances increased 3.37 percent annually and set a new record in the first eight months of this year, totaling 43,323 million dollars.
If only the month of August is taken into account, Banxico data indicates that remittances rose 9.32 percent at an annual rate, after the setback in July, to 6,087 million dollars, a value that exceeded 5,713 million projected by the Bloomberg consensus.
Remittance operations totaled 14.95 million, the lowest of an 8.22 percent annual increase, in combination with money transfers for 407 dollars, which meant 0.99 percent more than in the same month last year.
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