The remittances that households received during 2024 contributed to reducing the number of people in multidimensional poverty in Mexico by one million 92,000, according to an analysis by the financial group BBVA México.
That is, that year the population in multidimensional poverty would have been 39 million 582,000, and not 38 million 490,000.
A person is in a situation of multidimensional poverty when they have at least one social deficiency and their income is insufficient to acquire the goods and services they require to satisfy their needs (income poverty line).
Furthermore, for 491,000 people in Mexico, remittances help their households to have enough income to buy the food basket, and not be in a situation of extreme poverty.
A person is in a situation of extreme multidimensional poverty if they have three or more deprivations and have an income lower than the monetary value of the food basket (extreme poverty line by income).
BBVA added that remittances are of great importance in reducing poverty in Guanajuato. It estimated that 170,000 Guanajuato residents in 2024 were out of multidimensional poverty due to these flows that their homes receive.
Find out: Remittances to Mexico fall 5.5% year-on-year between January and September 2025
Other states with significant reductions in the number of people in poverty thanks to remittances are Veracruz and Michoacán. He estimated that 96,000 and 95,000 people respectively in these states would become poor if they did not receive remittance transfers.
He pointed out that Oaxaca, San Luis Potosí, Guerrero and Zacatecas are other states where remittances are relevant in reducing the number of people in poverty.
In these states, remittances contribute to reducing the number of people in poverty by between 62,000 and 77,000.
Regarding extreme poverty, BBVA estimated that 69,000 people in Oaxaca would be in that condition if they did not receive income from remittances.
In Guanajuato, Chiapas and Veracruz, remittances reduce the number of people in extreme poverty by more than 50,000.
Remittances to Mexico in September fell 2.7% annually to 5,214 million dollars, accumulating six months of declines, according to Inegi data published this Monday.
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During the first nine months, shipments totaled 45,681 million dollars, a figure 5.5% compared to what was reported in the same period of 2024.
BBVA México predicts that remittances could register a decline of 5.8% in 2025 and close the year at figures close to 61,000 million dollars.
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