Migrants sent less money back to Mexico in 2013
MEXICO CITY (AP) — Mexico’s central bank says the amount of money Mexican migrant workers sent home to their families fell by 3.75 percent in 2013, as compared to the previous year.
The remittances are mainly sent from workers living in the United States.
The Bank of Mexico said Tuesday remittances fell from $22.44 billion in 2012 to $21.60 in 2013.
Remittances rose in December, but it was not enough to compensate for drops in previous months, and they still have not recovered to their peak levels of 2008.
Experts attribute the decline to continued weakness in industries that employ migrants in the United States.