Remittances to Mexico rise 7.89 pct.

July 2, 2014

7/2/14 Fox News Latino

currency - coinsRemittances sent to Mexico by emigrants totaled $9.58 billion in the first five months of 2014, up 7.89 percent compared to the same period last year, the Bank of Mexico said.

Mexico received $8.87 billion in remittances during the January-May 2013 period, the central bank said in its monthly report.

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Mexico isn’t our top immigration problem: Op ed

November 22, 2013

Arizona Republic, 11/22/2013

shutterstock_49320484Arizona needs to leave the Land of Old Ideas about illegal immigration, Mexico and Central America. Congress should take a hike to reality, too. Old battle lines continue to define — and doom — efforts to reform outdated immigration policies. They also hurt Arizona’s economic competitiveness.

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Latin Migrants Shift Sights From U.S. to Neighbors

November 20, 2013

latin_americaThe Wall Street Journal, 11/19/2013

It sounds like the typical American dream for an immigrant: Each month, Marco Antonio Serna sends $500 to his parents, wife and 17-year-old daughter back in Colombia. Except Mr. Serna, 43 years old, didn’t migrate to the U.S. for work; he went to Chile, where he is employed at a small casino outside Santiago. “There’s a big community of Colombians here,” the former factory worker says.

In a noticeable and important shift in global migratory patterns, millions of migrant workers are no longer relying on the U.S. as heavily as they did for better-paying jobs that allowed them to send money home to families in Latin America, the Caribbean and Asia. Instead, they have moved more to developing economies, creating a shift in money transfers out of countries like Chile, Brazil and Malaysia.

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Remittances to Latin America recover – but not to Mexico

November 18, 2013

Advertisement for remittance services

Al Jazeera America, 11/16/2013

Remittances to Spanish-speaking Latin American countries have rebounded from their recent decline, a new study by the Pew Research Center shows, but the amount of money sent to Mexico has continued to fall, likely because the Mexican immigrant population in the U.S. has dropped dramatically since the 2007 recession.

The amount of money or other assets that migrant workers sent to Mexico, an estimated $22 billion in 2013, has fallen from a pre-recession peak of more than $30 billion.

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Remittances To Mexico Drop 11 Percent In February

April 3, 2013

dollarsFox News Latino, 4/2/2013

Mexico received $1.58 billion in remittances in February, 11.1 percent below the amount recorded in the same month of 2012, the country’s central bank said Monday. This was the eighth straight month in which remittances declined on an inter-annual basis. In the second month of 2013, the average remittance was $293.17, less than the $320.34 in February of 2012, the Bank of Mexico said in its monthly report.

In February, 5.4 million transactions were recorded, most of them electronic transfers. Remittances to Mexico totaled $22.45 billion last year, a decline of 1.57 percent from 2011. Remittances from expatriates are Mexico’s second-largest source of foreign exchange after oil exports and help cover living expenses for millions of households. Most of the money is sent from the United States, where an estimated 12 million Mexicans live, about half of them undocumented migrants.

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Mexican auto industry surpasses remittances (Spanish)

February 13, 2013

autosReforma, 2/12/2013

Ni el petróleo, ni el turismo, ni las remesas: ahora, el mayor ingreso de divisas lo genera la industria automotriz. En 2012, este sector trajo a México 32 mil 244 millones de dólares, lo que fortaleció su liderazgo como el sector que más ingresos aporta al País.

Las divisas netas generadas por la exportación de los vehículos automotores han ido creciendo en los últimos años: las del 2012 fueron 11 por ciento superiores a las de 2011 y 194 por ciento más que las de 2000, según datos del Banco de México. Los autos de mayor exportación fueron el Nuevo Jetta; Fusion; Journey; Silverado 2500; Sentra; RAM 2500 y Versa.

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Three ways U.S. immigration reform might impact Mexico

February 1, 2013

border3The Washington Post, 1/31/2013

Now that President Obama and the Senate have put together plans for comprehensive immigration reform, it seems like something might finally be done about this thorny issue. Of the 11 million estimated illegal immigrants in the United States, some 7 million are from Mexico, so any U.S. legislation would have huge impacts there.

Here’s a look at some of them: (1) Possibly more remittances; (2) Likely fewer illegal crossing attempts; (3) More and better migrant labor.

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Remittances to Mexico fell 20% in September compared with last year

November 2, 2012

Los Angeles Times, 11/1/2012

Remittances to Mexico from abroad fell by more than 20% in September compared with the same month in 2011, according to Mexico’s central bank, a decline that experts said can be partly explained by the reduction in immigrant employment in the United States.

Nearly 11% of all Mexicans live abroad, most of them in the U.S., and the money they send home to family members is one of the country’s most important sources of foreign income, representing about 2% of the country’s gross domestic product.

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Mexico sees 1st big remittances rebound since 2008

February 2, 2012

Bloomberg-Businessweek, 2/2/12

The amount of money Mexican migrant workers sent home in 2011 increased by 6.86 percent over the year before, the first major rebound in remittances since the 2008 economic downturn, Mexico’s central bank announced.

Remittances totaled just over $22.7 billion in 2011, up from $21.27 billion in 2010, the bank said Wednesday. The 2010 figure represented an increase of just 0.12 percent over the $21.24 billion sent home in 2009. There had been a precipitous 15.5-percent drop in remittances between 2008 and 2009.

“The growth is due to a recovery in U.S. employment, especially among the Latino sector and especially among Mexicans,” said Victor Corona, a migration and remittances expert at the Autonomous University of Zacatecas.

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Wells Fargo Expands Remittances Network In Mexico

August 26, 2010

Wall Street Journal, 8/26/2010

Wells Fargo & Co. (WFC) said Thursday it has nearly doubled the number of locations in Mexico where recipients of remittances, a major source of foreign-exchange inflows, can pick up the money that their relatives send home from the U.S.

Under the agreement with Houston-based Transnetwork Corp., Wells Fargo, of San Francisco, will add more than 4,000 receiving locations, bringing its total to more than 9,000.

With senders of remittances becoming more savvy about exchange rates, transfer costs, convenience, and security, the importance of having more receiving options–such as retail chains that open weekends–is more an issue than market share, Ayala said. The official declined to give Wells Fargo’s share of the Mexican remittances market, but said it is “in the billion-dollar-plus range.”

Remittances to Mexico in the second quarter totaled $5.81 billion, up 3.7% from the same quarter of 2009. The transfers, whiich generate more dollar inflows into Mexico than foreign tourism, fell 16% to $21.18 billion last year after a 3.6% drop in 2008.

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