Explaining the Increase in Remittances to Mexico - Southwest Economy, July/August 2007 - FRB Dallas

Explaining the Increase in Remittances to Mexico - Southwest Economy, July/August 2007 - FRB Dallas
Banco de México has good data on where remittances go within Mexico (Table 1). The central–western states attract most of these financial flows, with Michoacán at the top with almost $2.5 billion, 16.1 percent of gross state product (GSP). Guanajuato follows at $2.1 billion (14.8 percent), then Jalisco at $2 billion (2.4 percent) and Estado de México at $1.9 billion (6.3 percent). As a share of GSP, remittances are also significant in Guerrero, Zacatecas, Oaxaca and Nayarit.

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