The Glasshouse Report

Thursday, February 2, 2017

Mexican Remittances Hit Record $27 Billion Amid Trump Worries


By Yahoo, Feb. 01, 2017

Mexico City (AFP) - Mexicans living abroad sent home a record of nearly $27 billion in 2016, the central bank said Wednesday, amid US President Donald Trump's threat to tap into their remittances to finance a border wall.

The total sum rose 8.8 percent from $24.78 billion in 2015 to $26.97 billion last year, according to the bank.

Cash sent by Mexicans living abroad, mostly from the United States, provides one of the country's main sources of foreign income along with automobile exports, oil and tourism.

Read More: https://www.yahoo.com

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