Remittances continue to rise, reaching €5 472 million in June

In June 2026, remittances to Mexico continued their upward trend, reaching a total of 5,472 million dollars, according to data released by Banco de México (Banxico). This marks another month of positive growth, with the amount surpassing 5 billion dollars for the sixth consecutive month of the year. The increase reflects a 4.2% annual rise compared to June 2025, when remittances totaled 5,201 million dollars. That figure was itself down 16.2% from the previous year, indicating a fluctuating pattern over the past two years. The June figures show a slight decline of 2.4% compared to May 2026, which recorded 5,611 million dollars in remittances. This drop follows a high-volume month influenced by seasonal factors, including the celebration of Mother’s Day in Mexico. Despite this temporary dip, the overall trend for the first half of 2026 remains robust. Total remittances during this period reached 30,759 million dollars, up 3.1% from the 29,842 million dollars recorded in the same period of 2025. The number of remittance transactions decreased slightly from 13.9 million in May to 12.9 million in June, according to Banxico. However, the average value per transaction increased, rising from 404 dollars to 422 dollars. This suggests that individual transfers have grown more substantial, possibly due to higher amounts being sent through electronic channels. In addition, the average amount carried in cash and in kind by migrants rose from 341 dollars to 397 dollars, reflecting a shift toward larger, more frequent transfers. Banxico highlighted that nearly all of the country's remittance inflows, 99.2%, were made via electronic transfers, totaling 30,516 million dollars. Only a small portion, 0.6%, came in cash and physical currency, with 186 million dollars recorded in this category. Money orders accounted for an additional 0.2%, equivalent to 58 million dollars. Of the total, 14,260 million dollars were received in cash within Mexico, representing 46.7% of the total. A significant share of remittances arrived as deposits held in account, accounting for 53.3% of the total, or 16,255 million dollars. These funds are typically used for long-term savings or investment purposes, contributing to financial stability among Mexican households. The reliance on electronic transfers underscores a broader trend toward digital financial services, reducing the risks associated with carrying large sums of cash across borders. The data also reveals ongoing challenges related to the movement of migrant workers, particularly in light of recent policies affecting U.S.-based immigrants. While remittances remain a crucial economic driver for many families, concerns persist regarding potential restrictions that could impact future flows. Financial institutions such as Banorte have warned of possible disruptions, emphasizing the need for continued monitoring of policy changes that might affect migration patterns and, consequently, remittance volumes.