Annual value of outgoing and incoming remittance flow in Mexico 2021, by country

The United States was Mexico's main destination and country of origin for remittances in 2021, according to a country ranking on the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For Mexico, the top five recipient countries for remittances in 2021 included the United States, Guatemala, Honduras, France, and Spain. Mexico's five main sources for remittances were - by a large margin - the United States, followed by Canada, Spain, Germany, and France.