Overview

• Banxico reported August inflows of $5.578 billion, an 8.3% year‑on‑year drop, though seasonally adjusted receipts rose 4.2% from July.
• Five consecutive annual declines left January–August remittances at $40.467 billion, down 5.9% from 2024 and the weakest for that span since 2022.
• Fewer transfers drove the fall, with operations down 7.2% to about 13.8 million and an average remittance of $402, while 99.2% of flows moved via electronic transfers.
• Outflows from Mexico slipped 12.1% to $91 million, narrowing the monthly remittance‑account surplus to $5.487 billion.
• Banks cite U.S. enforcement, softer labor demand and the new 1% levy as key drags; BBVA estimates roughly a 13% real income hit for recipients, and Mexico has launched a refund program and push to formalize transfers.