MEXICO CITY – While the COVID-19 pandemic froze the U. S. economy, all Latin American immigrants living there have been affected in the same way, it shows a glimpse into the cash they returned to their birthplace.
Although remittances during the first six months of 2020 were smaller than at the same time in 2019 for Colombia, El Salvador, Guatemala and Honduras, they increased for Mexico and the Dominican Republic, according to an investigation into the central bank’s knowledge through the Washington-based agency. Company. Pew Research Center launched on Monday.
The six countries included in the research are the birthplaces of approximately 8 of the 10 Latino immigrants living in the United States and getting the vast majority of their REMittances from the United States. The six countries had set cash records they sent home in 2019, receiving $71. 5 billion, according to the report.
Mexico stands out for a 10. 6% accumulation in cash it earned in the first six months of the year, despite the pandemic. At the other end of the spectrum is El Salvador, which won 8% less.
Mark Hugo Lopez, Pew’s director of global demographics and migration studies, said no explanation was probably omitted.
Mexico has benefited from an exchange rate that takes the dollar further, while El Salvador uses the dollar as a currency, there are no massive differences in the occupations of immigrants from both countries, geography may be just one factor: Salvadoran immigrants are concentrated in California, Texas and around Washington, D. C. , while Mexicans are more settled in California Texas, Georgia and the Midwest said.
Lopez also noted that a higher percentage of Mexican immigrants have been living in the United States for more than 16 years, while others warned that the largest population of Mexicans legally living in the United States may have made them more resilient as the economy collapsed.
On Monday, Mexico’s President Andrés Manuel López Obrador said sending through Mexicans living in the United States would be a key to Mexico’s economic recovery.
“Despite the pandemic in the United States and the collapse of the U. S. economy, the remittances our compatriots send to their enjoyments are higher and this reaches 10 million families,” the representative said.
The decrease in remittances to El Salvador, as well as Guatemala and Honduras, in the first six months of the year may simply imply that once the U. S. border is closed under fitness provisions, maximum levels of immigration can resume. Many families have cash, sent home through their enjoyments to make the end of the month.
In El Salvador and Honduras, remittances accounted for more than 20% of gross domestic product last year, according to the report.