Mexican Remittances Equal Oil Income
Money sent by Mexican emigrants to their homeland reached 5.19 billion dollars, an amount similar to that by Mexican oil profits and more than direct foreign investment or international tourism.

In the first three-month period in 2006, money sent by Mexicans living abroad grew 27.5 percent compared to the same period last year, Banxico (Bank of Mexico) reported Monday.

However, in the same period, the Mexican Treasury had to pay 4.46 billion dollars for foreign debt interest and utilities received from foreign enterprises.

Banxico informed that between January and March 2006, balance of payments was in the black by 882 million dollars, equivalent to 0.4 percent of the Mexican Gross Domestic Product.