Remittances to Mexico down 12 percent

April 29th, 2010 - 12:22 pm ICT by IANS  

Mexico City, April 29 (IANS/EFE) Remittances from Mexican emigrants, the second-largest source of income after oil exports, has gone down 11.98 percent, Mexico’s central bank has said.
Remittances totalled $4.82 billion in the first quarter in 2010. The figure for last month, $1.95 billion, was down 7.3 percent compared to March 2009, the Banco de Mexico said Wednesday.

In March 2010, there were a total of six million money transfers, the average amount of which was $324.27.

Mexico had received $21.81 billion in remittances in 2009, a decline of 15.7 percent from 2008.

Money from relatives abroad represents around 19 percent of total income for urban households and 27 percent for rural households, official figures said.

The lion’s share of those remittances comes from the US, home to 12 million Mexicans.

–IANS/EFE

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