Mexico.- This Tuesday, the financial group BBVA announced that, during 2021, the collection of remittances in Mexico and the countries that make up Latin America grew above twenty%.
He explained that the country that registered the greatest increase in remittances during the past year was Guatemalawhere these had an increase of 34.9% compared to 2020, a figure higher than that captured by Mexico, which in that period presented an increase of 27.1%.
With information from the central banks of Latin American nations, BBVA was able to highlight that the phenomenon of historical figures in the reception of remittances was not particular to Mexico, but to the entire Latin American region.
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“With these data we can affirm that the surprising growth of remittances to Mexico during 2020 and 2021 is not particular to the country, but is common among many countries in Latin America and the Caribbean, which also have a significant volume of migrant population that works in the United States,” the bank stated.
Other countries that registered increases above 20% in receiving remittances were Dominican Republic, Jamaica, El Salvador and Colombia; While nations like Brazil and Nicaragua they averaged increases in their remittance income of about 16%.
The reason why many Latin American countries showed growth in their remittances was, the financial group stressed, because they have a large migrant population that works in the United States.
According to information collected by the Bank of Mexico (Banxico) from financial and non-financial institutions, during the first month of this 2022, 3 thousand 931 million dollars arrived in the country for remittances, which represented an increase of 19.6% with respect to the amount received in January of last year .
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Thus, Mexico has accumulated 21 consecutive months with positive annual variation rates in its income from remittancesa trend that began in May 2020, when the Covid-19 pandemic was beginning, a situation that caused countrymen to increase the flows of money sent to their relatives in national territory.
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