Remittances to Latin America Rebound–Except in Mexico

Carol J. Williams, Los Angeles Times, November 15, 2013

The amount of money U.S. immigrants send to their families in Latin America has more than doubled since 2000, and the cash flow home–except to Mexico–has recovered from a considerable drop during the Great Recession, a 13-year survey of remittance trends shows.

For years, remittances have far outpaced foreign aid in helping lift people out of poverty in Latin America, the study released Friday by Pew Research Center notes.

In 2011, remittances totaled $53.1 billion, more than eight times the amount of official aid, the report says.

More than half of those immigrating from Spanish-speaking countries–54%–send part of their U.S. earnings home, and 17% of U.S.-born Latinos also maintain financial lifelines to relatives abroad, the Pew research shows.

{snip}

Money transfers to the 17 Latin American countries surveyed have picked up over the last four years, on course to reach $53.8 billion by the end of this year. But that figure remains 13% below the pre-recession peak of $61.6 billion in 2007, Pew reported.

For Mexico, the recession’s effect has been even more lingering, with this year’s expected remittance intake of $22 billion still down 29% from the 2006 peak. The decline apparently reflects the drop in Mexican immigration to the United States.

Other findings highlighted by the study:

{snip}

— Remittances accounted for the highest percentage of GDP in El Salvador (16.5%), Honduras (15.7%) and Guatemala 10%).

{snip}

— The United States is the largest remitting nation worldwide, sending $123.3 billion abroad in 2012. {snip}

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  • Why not Mexico?

    So much of Mexico is already here.

    Therefore, a Mexican remittance has become an in-country cash transfer.

  • pcmustgo

    Migratory Birds.

    • Spartacus

      Migratory cockroaches, you mean…

      • Blue-eyed Devil

        Why do you hate Mexicans? You whites stole their land.

        • Spartacus

          Not sure if sarcastic or not…

        • Bossman

          They took it unjustly in an unjust war. That is a fact of history. It may be an unpleasant and an inconvenient fact but it is still a fact.

          • Spartacus

            Oh shut up you damn retard .

          • Bossman

            Does the moderator at this website allows personal insults? I always thought that this was not allowed because if it is, I’m quite capable of dishing it also.

          • Spartacus

            Give it a try, maggot.

        • Allan477

          Actually, this country bought and paid for the Southwest. We did not steal it from anyone. Nor is it our fault that the corrupt Mexican government officials stole this money from the Mexican people for their own personal use.

  • bigone4u

    It’s too easy for these wetbacks to get money out of the States without paying taxes on it. Can I just as easily get money into a Swiss bank account? Not without the IRS getting involved.

    • So CAL Snowman

      I wonder how much money they would be able to send out of the States WITHOUT all of the welfare and social services they receive which is paid for by White Americans. If these people actually had to pay for their cost of living they would not have a penny to send back “home.”

      • Bossman

        They come to the USA to work and save money; not to live off the system.

        • So CAL Snowman

          Funny joke, are you here all day?

          The only reason they can “save” money is because their food, housing, medical, dental, and spending cash is taken care of by people like the fine readers of Amren.

          • Blue-eyed Devil

            I’m here 24/7/365. I’m a champion of liberal causes. We fight hard.

          • Blue-eyed Devil

            If you were in their shoes, what would you do? Don’t tell me you would return to San Salvador or Managua. You wouldn’t.

        • Blue-eyed Devil

          Europeans stole their land.

          • Massif1

            Didn’t know Europeans stole land from El Mexicans. Thanks for sharing this with me. On the other hand, black eye savages where given Liberia and they still savagely kill each other.

          • Blue-eyed Devil

            Study your history. Learn who Hernan Cortes and Francisco Pizzaro were. They weren’t nice people.

          • Blue-eyed Devil

            Bossman should be supporting me here. He’s afraid to come out of the shadows. Don’t let these right-wing bigots intimidate you, bro.

          • Bossman

            What shadows? I deal with facts and some facts may be unpleasant and inconvenient. Some day the USA will have no choice but to accept Mexicans as fellow North Americans.

          • dms0001

            The Mexicans stole the lands from indigenous people and many Amerindian Nations stole the land from earlier indigenous Amerindians.

            Most of the people living in the American South west , Anglo, Mex,
            black, etc, are grateful that they are no longer part of Mexico

            Also, Treaty of Guadalupe Hidalgo

    • Blue-eyed Devil

      Wetback is a racist word. I’m going to tell Jared Taylor on you.

  • IstvanIN

    Do remittances to Latin America include using your SNAP (Food Stamp) benefits to fill a barrel up with food stuffs and ship it south?

    • bilderbuster

      After they raid the local food banks.

  • kjh64

    Yes, they send their remittances back to their own country all the while getting free food and medical care etc. here.

    • Blue-eyed Devil

      They’re poor and downtrodden. Show compassion, kjh65.

  • So CAL Snowman

    “– Remittances accounted for the highest percentage of GDP in El Salvador (16.5%), Honduras (15.7%) and Guatemala 10%).”

    That says it all right there. These people are completely incapable of producing anything in their home countries. Yet when these same areas were ruled by the Spanish they were some of the wealthiest colonies in the new world.

    • Blue-eyed Devil

      Go catch a wave, dude, you’re hallucinating.

  • willbest

    I suspect if we started confiscating all this money we would find fewer immigrants in this country.

  • Jesse James

    The thing that keeps bothering me is how illegal aliens seem to have more rights than US citizens. In fact they seem to be favored by the government. Productive citizens don’t get free health care, illegals walk into any emergency room in the country and can get good free care with no worry that the hospital or government will track them down and make them pay anything. Citizens are under strict regulations as to what type of accounts they put their money in, how much money they can take out of the country and our government pressure foreign banks to report our transactions. Illegals send billions home with no extra taxation or oversight. Out of state Americans have to pay expensive out of state tuitions at most colleges, out of country illegals get educational assistance and lower in-state rates. American citizens are spied on and tracked by our government while illegals drift like shadows across the land. The government that wants to put black boxes in all our cars so they can tax us per mile driven and record and store the little rat trails of our daily lives in super computers, record every phone conversation, email and comment in case one day they might want to use the information against us. This “all seeing, all knowing” government pretends it can’t possibly do anything about the tens of millions of illegals taking our jobs and driving down wages. What gives? How much longer till Americans are paying for fake IDs so that we can pretend to be illegals from Honduras.

    • Blue-eyed Devil

      Weren’t you married to Sandra Bullock?

  • Anna Tree

    Since remittances are sooo high and have far outpaced foreign aid in helping lift people out of poverty in Latin America, I think it’s time to stop foreign aid. Beside those remittances are maybe welfare anyway, that is it itself foreign aid.
    I would say that that kind of welfare shouldn’t happen in the first place: we shouldn’t give welfare to immigrants, moreover illegals.
    And if I am already telling you my opinion, I think that there shouldn’t be any foreign aid: If someone wants to help/give charity, go ahead give your money, not others.

    • Blue-eyed Devil

      Undocumented workers are human beings, too. Show some compassion, woman.

      • Reverend Bacon

        You are joking, right?

      • dms0001

        “undocumented”, Yes, that phony word, used by leftist bigots to disguise the term “Illegal Alien”, because it offends the left wing bigots sensitivities. Whilst demanding taxes to pay for the “undocumented workers” food, medical treatment, etc. By the way, why are they working, undocumented surely means, no documents, thereby nobody should provide them with work until they prove they are legally in the country, paying into system. i believe your employers are mandated to ensure workers are legally in the USA. Appears your idea of undocumented workers is different to the majority, but that’s what left wing extremist racists do, even here in the UK. What of compassion for the many Legal American workers being denied employment, due to these “Undocumented Workers” filling those available jobs for low rate wages, therefore reducing the salary rates of all around them. As well as assisting in eliminating the many rights, accrued, fought for over the decades, being plundered via employing these, “Undocumented Workers”, who have no rights. Then we have Affirmative action, something the UK Marxist collectivist bigots also practice, which, when entering my local authority HQ, shows, is just an anti white employment practice, a discriminatory law against only whites.

    • Anna Tree

      That is my answer to Blue-eyed Devil’s post that has been removed:

      I never say that “undocumented” workers are not human beings. I say that if one wants to give its money to another human beings, I am okay with this. But the government shouldn’t give MY tax money away for charity. Tax money is for a country’s own citizens, infrastructure, defense, education, health etc. I show compassion to our own children, elderly, sick and unemployed first: charity is a personal matter, I will decide to which human beings to give my charity away.

  • me

    And not a f^&k was given by our traitorous ‘representatives’ in Congress, who whore themselves out to the highest corporate bidder. Thus falls the second ‘Roman Empire’.

  • Mike Conrad

    See in today’s NYT an article called “In Middle of Mexico, a Middle Class Rises” … NYT characteristically celebrating the following: “In the mostly poor state of Guanajuato, long known as one of the
    country’s main sources of illegal immigrants to the United States, a new
    Mexico has begun to emerge.”

    Well yeah–if we were allowed to export our underclass, I bet we’d be doing mighty well too…