Remittances resume growth and rise 16% monthly in March to $5.15 billion.

Remittances sent by Mexican workers to their homes in Mexico resumed growth after four months of decline, rising 16% in March compared to February and once again surpassing $5 billion, according to the Bank of Mexico (Banxico).

In the third month of the year, remittances sent by our fellow countrymen amounted to $5.15 billion, an annual growth of 2.7%, with $13.438 billion sent and an average remittance of $383.

Gabriela Siller, director of analysis at Grupo Financiero Base, emphasized that while remittances showed a rebound in March, after four consecutive months of decline, "they still show very low annual growth," at just 2.7 percent.

The analyst explained that the slower growth rate of remittances compared to previous years is due to the slower job creation for people of Mexican origin in the United States, as well as the tightening of immigration and deportation policies following the arrival of Donald Trump to the presidency of that country.

In fact, the flow of remittances sent by Mexican workers had decreased in February at both monthly and annual rates, the first full month of Donald Trump's second term in the White House.

Furthermore, since November 2024, the month in which the US presidential election was held and won by Trump, the flow of remittances to Mexico had shown monthly declines.

"The growth in remittances during March reflects a seasonal pattern. Going forward, remittances could maintain a certain momentum, supported by the strength of the U.S. economy and the decline in the unemployment rate among Hispanics and Latinos," said specialists at Valmex Casa de Bolsa.

However, they warned of the risk that a possible slowdown in US economic activity due to the negative impact of protectionist measures poses a threat to the stability of these flows.

Additionally, they asserted, the implementation of new immigration policies by Donald Trump could negatively impact remittances sent to Mexico.

Record first quarter

In the three months leading up to 2025, the so-called migradollars reached $14.269 billion, a record figure and an annual increase of 1.3%.

The states that received the most remittances in the same period were Michoacán, with $1.269 billion; Jalisco ($1.25 billion); Guanajuato ($1.218 billion); Chiapas ($972 million); and Mexico City ($944 million).