Remittances to Mexico now country's top source of foreign income, reaches $24.8B

Article CAIRCO note: 
Per report, U.S. source of almost all remittances sent to Mexico
Article publisher: 
Fox News Latino
Article date: 
5 February 2016
Article category: 
National News
Article Body: 

The central bank reported Tuesday that money sent home by Mexicans overseas hit nearly $24.8 billion last year, overtaking oil revenues for the first time as a source of foreign income.

Remittances were up 4.75 percent from 2014 ... They had never before surpassed petroleum since the Bank of Mexico began tracking them in 1995 ...

[...] improved economic conditions in the United States, home to more than 11 million Mexicans and the source of nearly all Mexico's remittances ...

CAIRCO Notes: For every dollar sent out of our country, that is one less dollar contributing to our U.S. economy and aiding our businesses.