About 27 million Mexicans (10 million of them born in Mexico) are thought to work in the U.S. The remittances they sent home totaled 20.035 billion dollars in 2005, 20.5% more than 2004, and a new record, according to figures from Banxico, the central bank.
By way of comparison, the net balance of petroleum- related trade during 2005 was up 25% to 22.332 billion dollars (based on subtracting petro-related imports worth 9.329 billion dollars from exports which reached 31.661 billion dollars).
Analysts are noting that the geographical pattern of remittances is beginning to change, with a higher proportion of funds being sent to urban areas such as Mexico City, and a declining proportion entering rural states such as Michoacán and Zacatecas. The change reflects the fact that more regions are now exporting workers than previously, and that those going abroad include a higher percentage of females and are better educated.
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