Mexico recorded a 12.1% year-on-year drop in remittances in April 2025, marking the steepest decline since in almost 13 years, according to new data released by Mexico's central bank. Total remittances fell to $4.76 billion, driven by both a decrease in the number of transactions and lower average amounts sent.
The drop coincides with heightened immigration enforcement in the United States and growing concern over a proposed 3.5% federal tax on money transfers sent abroad.
