AZMEX I3 3-5-12

AZMEX I3 3 MAY 2012

Remittances account for 23 mmdd in the last 12 months
The rise of remittances in March is a result of the recovery of jobs
for U.S. Hispanics and Mexicans in particular, the entities that
receive more remittances were: Michoacán, Guanajuato and Jalisco

INCREASE. During the first quarter, remittances rose by 5.3% over the
same period of 2011. (Photo: UNIVERSAL ARCHIVE)

Thursday May 3, 2012
Editorial | The Universal
cartera@eluniversal.com.mx
http://www.eluniversal.com.mx/primera/39380.html

As of March, remittances sent home by Mexicans working abroad
amounted to 81.95 million 2000 dollars, a figure 16.4% higher than in
February and 1.44% higher than in March last year, Banxico . With
this, remittances increases totaling 18 consecutive months.

This surge in remittances in March is a result of the recovery of
jobs for U.S. Hispanics and Mexicans in particular, say analysts at
BBVA Bancomer.

In March of Hispanics living in the United States reached a new
record on jobs, making 21.64 million jobs. With what they have gained
just over 2 million to 4 million jobs the U.S. economy has recovered
since the last recession.

The increase in remittances in March was driven by the increased
number of operations for sending money, which had an annual growth of
3.6% to reach 6.19 million transactions, while the average amount of
remittances in the March was 336 dollars, a figure up by 5.0% from
the previous month but lower by 2.1% in March from the previous year.

The dynamism of remittances in March, resulted in the first three
months of sending money from abroad countrymen accumulate a total of
5,372,160,000 dollars, a figure 5.3% higher than in the first quarter
of 2011. In the quarter were 16.8 million operations, 7.3% more than
the same period last year.

The cumulative flow of remittances in dollars in 12 months marginally
exceeded 23 billion dollars, which suggests that remittances are at
their highest since they began their recovery in the second quarter
of 2010 and are now at levels second quarter of 2006, say the analysts.

In the first quarter of 2012 institutions that received more
remittances were: Michoacán (538.4 million dollars), Guanajuato
(498.7 million dollars) and Jalisco (462.2 million dollars).

Nationally remittances received in the first quarter of 2012 were 5
000 372.2 million dollars, 5.3% higher than the same period last
year, analysts noted Bancomer.