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There is a steep decline in remittance propensity after a 10-year absence.
Last year, they sent back about $11 billion in remittances.
The starkest example is in remittances to Africa.
Remittances are now equivalent to 11% of the economy, with double-digit growth in remittances predicted for this year.
Mexico received $9.82 billion last year in remittances from abroad.
THE people working on migration and remittances at the World Bank have put out some interesting new data on the latest trends in remittances to developing countries.
And immigrants pay more in taxes than they send to Mexico in remittances.
In 2010, migrants sent more than $5 billion in remittances back home.
Why has such a rapid growth in remittances not led to any discernible growth in GDP?
The World Bank is forecasting a decline in remittances of 7-10% in 2009.
On that interpretation, a surge in remittances is bad news, not good.
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CEO of Professional Science Editing for Scientists @ prosciediting.com