Background on Querétaro and its Remittance Significance
Querétaro, a state in central Mexico, has experienced a notable increase in remittances during the first quarter of 2025. These financial transfers from Mexicans living abroad have become a crucial economic lifeline for the region, contributing significantly to its GDP and supporting local families.
Remittance Growth in Querétaro
According to data from Banco de México (Banxico), Querétaro received $278.6 million in remittances from January to March 2025, marking a 5.5% increase compared to $264.2 million in the same quarter of 2024.
Contrasting Trends
This growth stands in stark contrast to the previous year when remittances declined by 2.8% annually in the first quarter of 2024.
Municipal Performance
Out of the 18 municipalities in Querétaro, 17 reported annual increases in remittances during the January-March 2025 period, with only one municipality experiencing a double-digit decrease. A year prior, most municipalities saw annual declines.
Top-Performing Municipalities
Five municipalities, located in the semi-arid region and urban areas, demonstrated the most substantial growth, with increases exceeding 10%:
- Colón: 53.6%
- El Marqués: 20.1%
- Cadereyta de Montes: 19.4%
- Tolimán: 18.8%
- San Juan del Río: 10.4%
Remaining Municipalities
Several other municipalities also saw remittance growth, albeit at single-digit rates:
- Amealco de Bonfil: 9.5%
- San Joaquín: 8.8%
- Corregidora: 8.6%
- Tequisquiapan: 6.7%
- Ezequiel Montes: 6.2%
- Arroyo Seco: 3.6%
- Pinal de Amoles: 3.4%
- Landa de Matamoros: 2.5%
- Peñamiller: 2%
- Jalpan de Serra: 1.8%
- Querétaro: 1.5%
- Pedro Escobedo: 0.9%
Huimilpan’s Decline
Despite the overall growth, Huimilpan was the sole municipality that experienced a decrease in remittances, with an 18.4% annual reduction.
Key Questions and Answers
- What are remittances? Remittances are financial transfers sent by migrants living abroad to their families and friends in their home countries.
- Why are remittances important for Querétaro? Remittances play a vital role in Querétaro’s economy, contributing to its GDP and supporting local families.
- Which municipalities saw the most significant growth in remittances? Colón, El Marqués, Cadereyta de Montes, Tolimán, and San Juan del Río experienced the most substantial growth in remittances.
- Which municipality had a decrease in remittances? Huimilpan was the only municipality that saw a decline in remittances.
- What percentage of total remittances did Querétaro receive? Querétaro received 34.4% of the total remittances in Mexico during the first quarter of 2025.
- How did Querétaro’s remittance growth compare to the national average? Querétaro’s remittance growth outpaced the national average (1.3%) by contributing 2% to the total remittances entering Mexico.
Conclusion
Querétaro’s remittances have shown resilience and growth in the first quarter of 2025, with most municipalities experiencing increases. This development underscores the importance of remittances in supporting local economies and families, while also highlighting the varying trends across different regions.
