Migrants in the United States are expected to have sent a record $27 billion in remittances into Mexico in 2016, according to BBVA Bancomer, an increase of more than $2 billion over 2015.
Remittances have become a huge prop for the Mexican economy, compared to the $18.5 billion in revenue from oil exports in 2015 or nearly $340 billion in manufactured goods, according to the national statistics agency.
In Florida, Arroyo’s daughter, who asked to be identified only by her last name, Hernandez, said she and her husband decided against sending holiday presents to Mexico this Christmas out of fear they will need money if they lose their jobs or be deported after Trump takes office.
One migrant, an auto mechanic who asked to be identified only by his first name, Salomon, because he does not have papers, said his wife recently panicked and sent their entire nest egg back to Mexico, thinking it would be safer there.
In 2015, the area around Ixmiquilpan, home to about 94,000 people, received about $100 million in remittances from abroad, according to data from Mexico’s central bank, more than 10 times the municipal government's annual budget.