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Mexico Now Receives More Dollars From Migrants Than From Oil

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  • Mountain Man
    replied
    Actually, Mexico receives the bulk of its foreign income from the sale of illegal drugs.

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  • andrewza
    replied
    So this should be in the North America sub forum. I mean most Mexicans sending money back are working in the USA.

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  • lirelou
    replied
    Andrewza, Mexico is undeniably one of Latin America's powerhouses in terms of population, culture (a major source of Spanish language books, television, and once upon a time, cinema), and economy (even when it's down). But yes, geographically it is in North America.

    I only object when the uneducated among us place it in Central or South America, though Augustin Iturbide had grand dreams of an Empire extending down there, rather than going north. Were we dealing with Native American culture and history, or geology and similar scientific matters, it would certainly have a place on any North American forum.

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  • Salinator
    replied
    Originally posted by andrewza View Post
    Is this not in the wrong secstio. Mexico is north America.
    No.

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  • andrewza
    replied
    Is this not in the wrong secstio. Mexico is north America.

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  • Mexico Now Receives More Dollars From Migrants Than From Oil

    Mexico received more money from migrants abroad last year than it got from selling its oil. But while some see this as a sign of future dynamism, others say it highlights fundamental weakness about the domestic economy.

    According to Mexico's central bank, remittances from Mexican workers in other countries who are overwhelmingly located in the United States totaled $24,770 billion dollars in 2015. This was $1.3 billion dollars more than the income from Mexican oil sales which totaled $23,432 billion dollars according to the state oil company Pemex.

    Remittances have never been higher than oil revenues since they first began to be counted as foreign income in 1995, and the new state of affairs reflects consistent rises in the amount of money sent home as well as the fall in oil prices.
    Vice - Full Article

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