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The U.S. economic recovery is fueling a revival of remittances to Mexico. Money sent home by Mexicans living in the U.S. and abroad rose in 2011 after a three-year slump. Mexicos remittances peaked in 2007 before falling in 2008 amid the U.S. recession before plunging further in 2009 and 2010.
Conference Board Coincident Economic Index, U.S. U.S. construction employment index Index, January 2000=100 120 Recession 115 Recession
A statistical one-month spike in reported remittances in fall 2008 was caused by volatile dollar-to-peso valuations during the financial collapse.
$2.5
110
105 $2 100
95
$1.5
90 $1 85
80 $0.5 75
NOTE: 2012 figures are through June.
70
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
NOTE: Remittances have been adjusted for inflation and seasonal factors. SOURCES: Federal Reserve Bank of Dallas, with data from the Bank of Mexico; the Conference Board; and the U.S. Bureau of Labor Statistics
India China Mexico Philippines France Egypt Pakistan Germany Bangladesh Belgium
SOURCE: World Bank
$63.7 $62.5 $23.6 $22.9 $16.4 $14.2 $12.3 $12.1 $11.9 $10.9
U.S. Saudi Arabia Switzerland Russia Germany Netherlands Spain Italy Kuwait South Korea $27.1 $21.6 $18.8 $15.9 $12.9 $12.2 $12.2 $11.8 $11.4
$51.6