US remittances to Mexico fall for 4th straight month—lowest in over a decade

It is the first time since 2013 that Mexico has recorded four straight months of annual declines in remittance inflows. Analysts say the downturn is being felt sharply among Mexican households reliant on money sent from the United States. The vast majority of remittances come from Mexicans living and working north of the border.

According to BBVA, an estimated 4.3 million Mexicans in the US are considered “unauthorized,” and many are limiting work and travel because of immigration enforcement efforts undertaken by the Trump administration.

From January through July, Mexico received $34.88 billion in remittances, a 5.5 percent drop compared to the same period in 2024. That marks the sharpest year-over-year fall since 2009, when inflows contracted by nearly 12 percent.

Less payments were made this year, and in smaller amounts overall. Banxico data shows 89 million individual transactions in the first seven months of 2025, down 4.9 percent compared to last year. The average transfer was $392, a 0.6 percent decrease. In July alone, the number of transfers fell 8 percent to 12.8 million, though the average remittance rose 3.6 percent to $416.

More than 99 percent of remittances this year were sent electronically, Banxico say.

Outgoing remittances from Mexico also fell 13.7 percent in the first seven months of 2025, totaling $687 million. That left the country with a remittance surplus of $34.2 billion, down from $36.12 billion a year earlier.