Mexican Migrant Workers Sent Record $58.5Bln Home In 2022 - Central Bank

Mexicans working abroad sent a record $58.5 billion in earnings to their families at home last year, figures published Wednesday by the country's central bank show

MEXICO CITY (UrduPoint News / Sputnik - 01st February, 2023) Mexicans working abroad sent a record $58.5 billion in earnings to their families at home last year, figures published Wednesday by the country's central bank show.

This is 13.4% more than the $51.6 billion remitted from abroad in the previous year, the Bank of Mexico said.

Earnings of Mexican labor migrants in the United States remain a sizable source of foreign currency for the Central American nation, rivaling direct foreign investment in the region.

The Mexican economy received $56 billion in migrant remittances from the United States last year. The Mexican origin population in the US stood at over 37 million in 2019, making it the largest group among US Hispanics, according to the latest census.