Friday, September 2, 2016

Mexico gets more cash from its workers abroad than from oil

CNN Money ^ | September 1, 2016 | Christine Romans and Patrick Gillespie 

Mexico heavily depends on its workers living abroad to send cash back home.
Almost $25 billion flowed last year from the pockets of Mexicans living overseas, almost all of it from the U.S. That's even higher than what Mexico earns from its oil exports.
The average remittance in June was $300.08, which when multiplied by the number of Mexican workers abroad totals billions each year. Donald Trump has his eye on those billions -- earlier this year, he said the cash could pay for the wall he has proposed between the U.S.-Mexico border, even though he didn't mention that in his meeting with Mexican President Enrique Peña Nieto on Wednesday....
(Excerpt) Read more at money.cnn.com ...

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