Remittance Costs Statistics in Mexico (2026)
In 2023, the average cost of sending remittances in Mexico stood at 2.7% of the amount sent, according to World Bank World Development Indicators data. Up from 1.3% in 2022 to 2.7% in 2023 (+1.3 percentage points). Mexico ranks #11 of 18 economies in Latin America & Caribbean on this measure, and #46 of 101 globally.
Key Statistics
- Latest value (2023)
- 2.7% (2023)
- Remittance Costs in Mexico as of 2023, the most recent observation in World Bank World Development Indicators data.
- Change since 2022
- +1.3 pp (2023)
- Up from 1.3% in 2022 to 2.7% in 2023 (+1.3 percentage points).
- Earliest value in this dataset (2016)
- 6.2% (2016)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Down from 6.2% in 2016 to 2.7% in 2023.
- Peak value (2016)
- 6.2% (2016)
- Highest value in the available series; the 2023 value is 2.7%.
- Rank in Latin America & Caribbean (lower is better; rank 1 = lowest)
- #11 of 18 (2023)
- Mexico ranks 11 of 18 countries in Latin America & Caribbean with data, based on each country's latest value. Ranked ascending because lower values are better for this metric.
- Global rank (lower is better; rank 1 = lowest)
- #46 of 101 (2023)
- Mexico ranks 46 of 101 countries with data globally. Ranked ascending because lower values are better for this metric.
- Latin America & Caribbean average
- 4.1% (2023)
- Mexico (2.7%) is below the average of 4.1% across the 18 countries in Latin America & Caribbean with data.
- Personal remittances, received (current US$) (2024)
- $67.6 billion (2024)
- Related indicator from World Bank World Development Indicators.
- Internet use in Mexico (2024)
- 83.1% (2024)
- 83.1% of the population in Mexico used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 130.9 million (2024)
- Mexico had a population of 130.9 million in 2024 (World Bank); shown for scale only.
Trend, 2016–2023
| Year | % of amount sent | Change |
|---|---|---|
| 2023 | 2.7% | +1.3 pp |
| 2022 | 1.3% | −0.4 pp |
| 2021 | 1.8% | −0.5 pp |
| 2020 | 2.3% | −2.1 pp |
| 2019 | 4.4% | +2.1 pp |
| 2018 | 2.3% | −1.2 pp |
| 2017 | 3.5% | −2.7 pp |
| 2016 | 6.2% | — |
Frequently asked questions
What is the latest figure for average cost of sending remittances in Mexico?
The average cost of sending remittances in Mexico stood at 2.7% of the amount sent in 2023, according to World Bank World Development Indicators data.
How does Mexico compare with other countries in Latin America & Caribbean?
Mexico ranks 11 of 18 countries in Latin America & Caribbean with data (ranked ascending; lower is better), with 2.7% versus a regional average of 4.1% (latest values per country).
Where does Mexico rank globally on remittance costs?
Mexico ranks 46 of 101 countries with data globally (ranked ascending; lower is better), based on the latest World Bank World Development Indicators value for each country.
When did remittance costs in Mexico peak?
The highest value in the available series was 6.2% in 2016; the latest (2023) value is 2.7%.
How recent is the remittance costs data for Mexico?
The most recent observation is from 2023. World Bank World Development Indicators data is reported with a lag, so 2023 is the latest available year for Mexico.
Source & methodology
Source: World Bank, World Development Indicators, indicator
SI.RMT.COST.IB.ZS, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .