Wednesday, February 01, 2006

Remittances to Mexico from US up 20% in 2005

That's according to this article. No doubt the increase is in part due to increased migration to the US but another part is also probably due to the increased economic activity in the US over the same period.

According to some, remittances from workers in the US to their families in Mexico is now the second largest component of Mexico's economy, after petroleum and before tourism.

posted by Michelle @ 2:05 PM,

2 Comments:

At 2/05/2006 8:38 PM,  Michelle said...

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At 2/05/2006 8:39 PM,  Michelle said...

I wouldn't count it as foreign aid. I do, however, think that Mexican politicians do not acknowledge the ways in which emigration to the U.S. helps reduce unemployment in Mexico. They (Mexican politicians) are more willing to acknowledge the importance of remittances for domestic consumption (and growth, to the extent that consumers are buying domestically produced goods and services).

 

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