US remittances to Mexico at lowest since 2022

MEXICO CITY

Mexican President Claudia Sheinbaum said Friday that remittances from the US have decreased to their lowest since 2022 as US President Donald Trump continues to crack down on immigrants.

The president said the 5% drop in remittances is a direct result of the “climate of fear or concern that has been imposed, given the current situation.”

“We are working to determine exactly what is causing this reduction. The number of Mexicans who have been repatriated, when compared to previous periods, is not particularly high," she said.​​​​​​​

Since Trump took office Jan. 20, deportations of immigrants in the US have not matched his campaign promises. In his first six months in office, the Trump administration has repatriated 56,000 Mexican nationals -- a drop from the 82,000 deported during the same period under his predecessor, Joe Biden, last year.

Sheinbaum said remittances increased dramatically in 2023 and even more in 2024, which is why the recent drop in the last few months has raised concerns for her government.

“Of course, we are concerned, especially because remittances reach the communities that have the least, from family members who are over there,” said Sheinbaum.

Remittances represent a significant part of Mexico's national economy, amounting to more than $64 billion last year.

Total remittances reported in 2024 equaled 3.5% of its gross domestic product.