Mexico’s remittances rebound in first half of 2026

In the first half of 2026, remittances to Mexico experienced a 3.1% annual increase, according to the Bank of Mexico (Banxico). This rebound marked a shift from a 4.6% decline in 2025 and brought Mexico's total remittance receipts to $30.76 billion from January to June. This represented the second-highest total in the first half of any year, with the previous high being $31.34 billion in 2024. Over 99% of the remittances entered Mexico through electronic transfers.

June saw remittances increase by 4.2% annually to $5.47 billion, the second-highest monthly total of the year. This was the second consecutive month that monthly remittances surpassed the $5 billion mark. Despite this annual increase, Mexican families receiving these transfers did not experience a higher collective income in pesos due to the exchange rate and inflation. According to BBVA Research, recipients received 8.3% fewer resources in real terms compared to the previous year.

The USD:MXN exchange rate at the end of June was 17.49, while it was 18.76 a year earlier, indicating a 6.8% appreciation of the peso against the US dollar. This appreciation coincided with a significant drop in remittances in 2025, attributed to fear of deportation under the Trump administration's aggressive deportation agenda.

Jesús González Cervantes, director of the remittances forum at the Mexico City-based Center for Latin American Monetary Studies, suggested that the increase in 2026 may be linked to the same fear of deportation among undocumented Mexicans.

In the first half of 2026, the average remittance to Mexico was $405, marking an annual increase of 5%. The number of individual remittances decreased by 1.8% year-over-year, totaling 75.97 million. Each remittance averaged $405, a 5% annual increase and the highest average since at least 2014. In June, the average remittance grew to $422, a 3.8% increase from the previous year, and the highest monthly figure on record.

Outgoing remittances also increased in 2026, rising by 6.7% to $627 million, compared to the same period in 2025. The average outgoing remittance stood at $414, a 3.4% annual increase. Recent years have seen a rise in immigrants settling in Mexico, reflected by the significant increases in outgoing remittances in 2023 (+19.5%) and 2024 (+21.6%), but a decline in 2025 (-9.6%) due to weak economic growth.