Remittances to Mexico in 2018: $33.4 Billion

[Arithmetic]

The total amount Mexico received in “remittances” — transfers of money by workers of Mexican descent mostly in the US but also other countries to individuals in Mexico — surged by 10.5% in 2018 to $33.4 billion, the highest figure registered since records began, back in 1995, and beating the prior records set in 2016 and 2017, according to the Bank of Mexico.

In 2018, they provided more funds than the $29.3 billion in export revenues that state-owned oil company, Pemex, obtained from its exports of crude oil and other hydrocarbon products, and they provided more funds than foreign direct investment in Mexico ($30.7 billion).

 

[☑︎#VoteDemocrat]

Dudes for years mocked me about this...you can't run from the data ...

 

[Moody]

Remittance money is no joke. Expats sending cash home and living cheap is how a lot of provinces in small countries survive.

Illegal immigration is only part of it cause legal citizens send money back even more when they're stable. This will never change.

 

[Mike809]

Dudes be taking care of their own back home most people from other countries do this .

 

[Secure Da Bag]

Is this really a problem? I don't understand. What's the real issue here?

 

[Arithmetic]

Remittance money is no joke. Expats sending cash home and living cheap is how a lot of provinces in small countries survive.

Illegal immigration is only part of it cause legal citizens send money back even more when they're stable. This will never change.

You underestimate.

Mexican and Central American undocumented immigration to America is a whole other beast and very complex to understand unless you see it in person every day. Most American born Mexican and Central Americans are not sending back money in the same way that undocumenteds from these countries are.

They don't have the same attachment and baggage. Also, many legal citizens are born to undocumented parents. Those undocumented parents are the household breadwinners until children become of age. It's very hard for this group of undocumenteds to become legal citizens, unlike Indian, Chinese, etc who come with working visas and eventually pursue green cards.

 

[George's Dilemma]

Who has a higher remittance, Mexico or India?

 

[Arithmetic]

Who has a higher remittance, Mexico or India?

False equivalance to compare the two but the answer is India has higher total remittances (60 billion), but Mexico has more coming from US (20 billion+) than India (10 Billion) does. False equivalence because most Indians in America are documented.

 

[Cave Savage]

False equivalance to compare the two but the answer is India has higher total remittances (60 billion), but Mexico has more coming from US (20 billion+) than India (10 Billion) does. False equivalence because most Indians in America are documented.

Indian immigrants in the US also come with over 16 years of education on average compares to 10 years of the average Mexican. So they make more money and send back more money per immigrant on average.

 

[Moody]

You underestimate.

Mexican and Central American undocumented immigration to America is a whole other beast and very complex to understand unless you see it in person every day. Most American born Mexican and Central Americans are not sending back money in the same way that undocumenteds from these countries are.

They don't have the same attachment and baggage. Also, many legal citizens are born to undocumented parents. Those undocumented parents are the household breadwinners until children become of age. It's very hard for this group of undocumenteds to become legal citizens, unlike Indian, Chinese, etc who come with working visas and eventually pursue green cards.

Mexicans are like 10 percent of the country right? The ones with proper legal status. They have better legal recourses to safely send money on a monthly or annually basis especially when they're not scraping the bottom of the barrel in terms of employment.

I may be wrong but I would think they'd have a larger influence on money returning home. At least the first gen of workers who are nearing or entering retirement.

 

[Cave Savage]

Mexicans are like 10 percent of the country right? The ones with proper legal status. They have better legal recourses to safely send money on a monthly or annually basis especially when they're not scraping the bottom of the barrel in terms of employment.

I may be wrong but I would think they'd have a larger influence on money returning home. At least the first gen of workers who are nearing or entering retirement.

I don't think the 2nd gen really feels an obligation to send money home, and/or don't really have the money to.

 

[sportscribe]

Is this really a problem? I don't understand. What's the real issue here?

That's money that should stay in America so that Uncle Sam can tax it.