Mexico received $105 billion in remittances during the first 20 months of Donald Trump's second term, double the $54 billion accumulated during his first administration, according to a count by El Universal based on Banco de México records.
The figure comes one day after Proceso published Banco de México's November 3 report: between January and September 2026 the country captured $47.164 billion in remittances, 2.1% more than the $46.184 billion in the same period of 2025. In September alone, $5.362 billion came in, an annual increase of 1.6%. Remittances are one of Mexico's main sources of foreign currency and sustain the consumption of millions of households, so their trajectory shapes family finances and the domestic market. For the Mexican community in the United States, sending money also serves as a thermometer for the labor market that employs them.
The momentum comes from the average amount per transfer, which rose 8.4% to $426.3, its highest level since 1995, while the number of transactions fell 6.3% to 12.6 million, according to the figures cited by Proceso. Juan José Li Ng, senior economist for Mexico at BBVA, told El Universal that the 1% tax on remittances sent in cash, in force since January 1, 2026, does not appear to have affected the flow, although it "does represent a cost that falls mainly on migrants working in the United States." Workers in California and Texas send 45% of the remittances that reach the country.
The new U.S. legislature, resulting from the November 3 elections, has among its responsibilities deciding whether to keep or repeal the 1% levy and whether to advance a law that restricts undocumented migrants' access to the financial system. Banorte analysts, cited by El Universal, anticipate pressure in agriculture and construction, two sectors that employ Mexican workers.
This article was written with the assistance of artificial intelligence from verified sources and reviewed by a human editor before publication.
