Querétaro, with an increase of 24.4% in the reception of remittances

Querétaro, Qro. From January to September, the state received 735.6 million dollars in family remittances, a figure that represents an increase of 24.4% in relation to the same period of 2020, when it totaled 591.2 million dollars.

This variation means that this year 144.3 million more dollars were received in income from family remittances, compared to the same period last year. The annual variation of the state placed it in position 18 nationally.

The accumulated of the first three quarters of 2021 is the highest amount recorded in that period, since the 2003 records of the Bank of Mexico (Banxico).

Meanwhile, this year’s remittances, accumulated until September, represent 91.7% of the 802.2 million dollars raised throughout 2020.

During July-September, the entity received 287.4 million dollars in remittances, a figure that is the highest in the quarterly record. Previously, in April-June remittances amounted to 254.5 million dollars, the second highest quarterly figure; and in January-March they totaled 193.6 million dollars.

Prior to 2017, the accumulated January-September was between 200 and 300 million dollars in remittances, as of 2017 the figure was around 400 million dollars, since in that period January-September of that year it added 439 million, for the period for 2018 it was 488.9 million, for 2019 it was 531.5 million, for 2020 it was 591.2 million and in 2021 it is 735.6 million.

Both in the cumulative period from January to September and in the third quarter of the year, the amount of family remittances placed Queretaro in the 20th national position, a list led by the main remittance recipients: Jalisco, which accumulates 3.826 million dollars until September; Michoacán with 3,610.9 million dollars and Guanajuato with 3,099.8 million dollars.

Meanwhile, they remain the states with the lowest amount of remittance income: Baja California, which received only 98.6 million from January to September, Campeche with 107 million and Quintana Roo with 226 million dollars.

Annual variations

From January to September 2021, all entities register double-digit annual variations in their remittance income, 16 states exceeded the national variation of 24.6%, as the country went from 29,965.4 million dollars in January-September 2020 to 37,349.7 million.

The most significant increase occurred in Chiapas (60.7%), in Tabasco (56%) and in Mexico City (35.2%); the modest increases are those of Puebla (of 10.4%), Baja California (of 11%) and Sinaloa of 11.4%, according to central bank reports.

Banxico specifies that in the January-September period in the country 99.1% of the total income from remittances was through electronic transfers.

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