Overview

• Remittance inflows to Mexico totaled $5.201 billion in June, marking a 16.2% year-on-year drop—the steepest monthly decline since September 2012.
• Inflows have contracted for three straight months, leaving January–June 2025 totals down 5.6% and 12-month cumulative remittances falling 2.19%, the first annual decrease since early 2014.
• Banxico data show transaction volumes plunged 14.3% in June—the largest fall since October 2009—while the average amount sent per family climbed to $409, the highest since August 2024.
• Intensified U.S. immigration raids under President Trump have discouraged migrant workers from sending money, exacerbating the downturn in transfers.
• July’s congressional approval of a 1% U.S. remittance tax set to take effect next year has drawn criticism from Mexico, which plans to reimburse affected migrants through its Finabien program.