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Remittances beat oil as Mexico's main export

Tuesday, May 17, 2016

Remittances, the earnings that Mexican workers in the U.S. send home, quietly replaced oil revenues as Mexico’s number one source of foreign income last year.

In late 2014, oil was still Mexico’s main source of foreign exchange, but due to a dramatic fall in oil production following a lack of investment and a plunge in international oil prices, this is no longer the case.

Source: Forbes