Mexico City - The economic crisis in the United States
accentuated in recent months the fall in remittances sent home by
Mexican migrants in that country, the Bank of Mexico said Wednesday.
The figure fell by 12.2 per cent in August and by 9.6 per cent in
the July-August period. It had fallen by 3.4 per cent in the first
quarter and by 1.1 per cent in the second quarter.
'In the first eight months of 2008 the volume of remittances
amounted to 15.553 billion dollars, which meant an annual drop of 4.2
per cent,' Mexico's central bank said.
From the beginning of the year, Mexicans in the United States -
where they constitute 5.1 per cent of the workforce - carried out
44.5 million transactions to send to their families an average of 349
dollars per transaction.
In the first eight months of 2007, by comparison, Mexicans in the
United States carried out 46.1 million transactions for an average
of 352 dollars.
The Bank of Mexico blamed the change on the deceleration of the US
economy - with a particular impact on sectors like construction and
manufacturing, which employ most Mexican migrants - and on the
increased controls of US authorities in their effort to combat
illegal migration.
'We can anticipate that, in general, over the coming months the
inflow of resources to the country from family remittances will
continue to show a loss of strength,' the Bank of Mexico said.
USA
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