MEXICO CITY, Feb. 3 (Xinhua) -- Remittances to Mexico from abroad dropped by 4.6 percent in 2025, driven by the United States' weakened labor market and strict immigration measures, said Mexico's central bank on Tuesday.

According to the Bank of Mexico (Banxico), the total remittance amount declined to 61.791 billion U.S. dollars in 2025 from a record 64.746 billion dollars in 2024. The amount in 2025 is the lowest flow of foreign currency since 2022.

Gabriela Siller, Mexican bank BASE's director of economic and financial analysis, attributed the decline to a weak U.S. labor market and fears of deportation among migrant workers.

In recent years, remittances to Mexico have become a crucial source of foreign exchange, exceeding foreign direct investment, revenues from crude oil exports and international tourism.

The Mexican government estimates that about 40 million Mexicans live in the United States. ■