According to BANXICO’s data in 2021 on a monthly basis, Mexico received an average of 11 million remittances and the average amount in 2021 was $372.00 dollars, equivalent to $7,500 Mexican pesos, which is 1.7 times the minimum monthly income approved by the CONASAMI.
There are about 35 million households in Mexico according to INEGI data, that indirectly increased their income and consumption of goods for each remittance received, which generated an increased in production, making a cycle that allowed households to generate incomes in Mexico.
This is important because during the pandemic many household pillars did not obtain 100% of their regular income, there were staff cutbacks, companies and businesses stopped their operations entirely, representing a historical unemployment rate of up to 18.9% in April 2020.
A report made by the Magister Eduardo G. of CIDE found that a 10 % increase in remittances income per-100,000 inhabitants reduces on average the total spread cases by 1.1% and deaths from COVID-19 by 0.94%.
That is why at InterCambio Express we firmly believe that Money Transfer remittances have been a hug of hope for families. We join the millions of Mexicans who with effort every day and regardless of distance, hug their families in the face of adversity.
It’s here where the most important remittances statistic tells us
that we Mexicans are made 100% of heart.
Sources: BANXICO, INEGI, CANASAMI, CIDE.