Remittance inflow to Mexico, by year 2023

In 2023, the personal remittances received in Mexico increased by 4.8 billion U.S. dollars (+7.8 percent) since 2022. While the growth is slowing down, with 66.24 billion U.S. dollars, the personal remittances received are at their peak in the observed period.
Personal remittances comprise personal transfers and compensation of employees. Personal transfers include all current transfers between resident and nonresident individuals, while the compensation of employees refers to the income of employees who are employed in an economy where they are not resident, as well as of resident employees employed by nonresident entities.

Value of personal remittances in Mexico from 2000 to 2023, based on remittance inflow from any other country

Characteristic	Personal remittance inflow (in million U.S. dollars)	Year-on-year percentage change (%)
2023	66,238.95	7.8
2022	61,457.72	11.6
2021	55,067.03	25.2
2020	43,977.65	10.4
2019	39,833.52	9.1
2018	36,526.31	10.9
2017	32,922.88	12.3
2016	29,328.82	9.3
2015	26,824.91	5
2014	25,556.64	6.6
2013	23,976.1	-0.3
2012	24,056.6	-0.6
2011	24,190.03	6.2

015,00030,00045,00060,00075,000

-60%-30%0%30%60%90%

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Release date

July 2024

More information

Region

Mexico

Survey time period

2000 to 2023

Special properties

All figures are estimates and in current U.S. dollars; This statistic follows the BPM 6 definitions of remittances, differentiating between "personal" and "total" remittances even if the two figures are often the same. See the "Details" tab for more information.

Supplementary notes

The numbers provided have been calculated by Statista, using definitions of remittances set in BPM 6 - the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual. The IMF used the following remittance definitions:

Personal remittances: The sum of "personal transfers", "compensation of employees" and "capital transfers between households";
Total remittances: The sum of "1. Personal remittances" with "social benefits";
Total remittances and transfers to Non-Profit Institutions Serving Households (NPISHs): The sum of "2. Total remittances" with "current transfers to NPISHs" and "capital transfers to NPISHs"

The categories of "personal transfers", "compensation of employees", "capital transfers between households", "social benefits", "current transfers to NPISHs" and "capital transfers to NPISHs" are all found in the IMF's Balance of Payments (BOP) database. Both the World Bank - and its KNOMAD department - adopted this IMF database in all their reportings on remittances.

Only the first two IMF categories - "personal transfers" and "compensation of employees" - are reported, though. All other categories are supplementary, meaning data is often not available or researched. This effectively means remittance data is incomplete - as it only covers (parts of) 1. Personal remittances.

Due to this lack of additional information, calculations on 1. Personal remittances and 2. Total remittances regularly lead to the same results. However, sources tend to write "total remittances" when the figures technically refer to "personal remittances". To avoid this confusion, Statista follows the BPM 6 wording of "personal remittances", unless a country does provide additional data that would lead to different figures that would be accounted for in "total remittances".

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