Introduction to Quintana Roo’s Remittance Situation
According to Mexico’s central bank, Banco de México (Banxico), remittances from the United States to Quintana Roo have decreased in the first half of 2025. The amount dropped from $203 million in the first half of 2024 to $169 million in the same period of 2025, marking a 16.7% decline.
Neighboring States’ Remittance Trends
The neighboring state of Yucatán also experienced a slight decrease, moving from $222.4 million in 2024 to $221.4 million in the first half of 2025. Meanwhile, Campeche is the only Peninsula state with a minor increase, rising from $81 million in 2024 to $83 million in 2025 during the reference period.
National Remittance Trends and Factors
A report by BBVA on remittances in Mexico indicates that Quintana Roo’s decline is part of a broader national trend. In June 2025, Mexico received $5,201 million in remittances, a 16.2% decrease compared to June 2024. This represents the largest drop since September 2012, nearly 13 years ago.
BBVA’s report highlights that Mexico has experienced 11 consecutive years of remittance growth, with the amount increasing from $23,090 million in 2013 to $64,746 million in 2024—almost tripling. BBVA anticipates that this growth trend will likely end in 2025.
The report attributes this potential end to the recent migratory actions and policies by the U.S. government, which have caused uncertainty over the past 20 months.
Remittance Methods in Mexico
During the first half of 2025, 99.0% of remittances to Mexico were sent electronically, 79.5% through non-bank institutions, and 51.1% were collected in cash. With this data, it’s unclear what proportion of remittances is subject to the new 1% tax imposed by the U.S., according to BBVA.
Key Questions and Answers
- What is the main issue discussed in this article? The decline in remittances to Quintana Roo and its implications as a national trend affecting Mexico.
- Which states experienced remittance decreases and which had increases? Quintana Roo and Yucatán saw decreases, while Campeche experienced a minor increase.
- What factors are contributing to the decline in remittances? Recent U.S. migratory actions and policies have caused uncertainty, potentially ending the 11-year growth trend in remittances.
- How are remittances typically sent to Mexico? Most remittances (99.0%) are sent electronically, with 79.5% going through non-bank institutions and 51.1% collected in cash.
