November 22, 2013
Arizona Republic, 11/22/2013
Arizona 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 Old battle lines continue to define — and doom — efforts to reform outdated immigration policies.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.
November 20, 2013
The 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.
November 18, 2013
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.
April 3, 2013
Fox 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.
February 13, 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.
February 1, 2013
The 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.
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.
February 2, 2012
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.
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.
January 4, 2010
The amount of cash sent home by Mexican immigrants living abroad sank 14.4 percent in November compared with the same month last year, the central bank said on Monday.
Mexicans sent home $1.495 billion in November in the fifth straight monthly decline. Remittances last touched these levels in February 2005 when Mexicans sent $1.428 billion home.