**Slight Decline in Remittances to Baja California in Last Quarter**
Remittances sent to Baja California have seen a slight dip in the past quarter, according to recent data from the Mexican central bank. From July to September 2024, over $374 million were recorded, compared to $376 million from the April to June period this year. Despite the drop, Tijuana remains the major recipient, receiving $405 million over the last six months—more than half of the total for the state.
Domingo Ramos Medina, president of the Baja California College of Economists, believes that the decrease might be temporary. He highlights that this change is influenced by economic fluctuations in the United States. “There are variables to consider, primarily the labor market seasonality. Remittances are largely a product of employment income, which is closely tied to the labor market’s performance during the respective period,” he remarked.
**Secondary Update: Economic Outlook and Predictions**
In related economic trends, local foreign exchange centers suggest that the dollar might reach 21 pesos if political changes occur in the United States. This potential shift reflects uncertainties surrounding economic policies and their impact on currency valuation.
Moreover, collaborative efforts are deemed crucial for addressing binational issues, emphasizing the importance of joint work in managing such challenges. Meanwhile, updates on local policies such as the extension for importing used vehicles and transportation regulation, signal ongoing adjustments in regional economic frameworks.
Overall, while remittance figures show a slight contraction, experts anticipate potential recovery in upcoming quarters, driven by improvements in employment and broader economic conditions.