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Mexico's remittances down 14.9 percent from 2009

Mexico's remittances down 14.9 percent from 2009

The amount of money sent home by Mexicans working abroad dropped 14.9 percent in the first two months of the year as compared to 2009, but the pace of decline slowed somewhat.
Mexico's central bank says remittances in February were down 14.1 percent from the same month the previous year, following a 16 percent drop for January and a 15.7 percent decrease for 2009 as a whole.
Remittances are Mexico's No. 2 source of foreign income after oil exports. Almost 12 million Mexicians live in the United States, and Mexico receives the world's third largest amount of remittances, after India and China.
The bank has blamed the U.S. economic downturn for the decline.


Updated : 2020-12-03 13:17 GMT+08:00