According to official statistics from the last census carried out in Canada, Mexicans are the third largest population in Latin America and the Caribbean with the largest presence in its territory and the first among the Spanish-speaking countries in the region. In 2021, a total of 132,220 people originally from Mexico living in that country were counted.
The Canadian government considered that 75.8 percent of this population are permanent residents who obtained Canadian citizenship through naturalization or who were born in Mexico to a Canadian father or mother. 24.2 percent were classified as non-permanent residents, this group includes Mexicans who obtained a work visa or students who are on an exchange.
According to the Government of Mexico, remittances from Canada amounted to 216 million dollars during the first quarter of the current year and in 2023 a total of 930 million dollars were sent.
How is the economy in Canada?
In the foreign exchange market, the supply and demand of currencies will determine the value of the exchange rate. Public policies, as well as monetary policies, have a great influence on the fluctuation of a currency.
The Canadian dollar is the official monetary unit of the North American country and is represented under the acronym CAD in the foreign exchange market. This currency has been used throughout almost the entire history of the country.
Canada has historically been characterized as one of the main trading partners of the United States and, in light of the Mexico-United States-Canada Agreement (T-MEC) approved in 2020, it maintains a great commercial relationship with the national market.
According to the Organization for Economic Cooperation and Development (OECD), it confirmed that the North American country is heading for a period of moderate growth after the “hard blow” represented by the coronavirus pandemic.
In 2021, the country managed to position itself as the main trading partner of the United States with a 14.5 percent share in said market.
Economic forecasts for this year
Experts expect that the country’s financial situation will suffer less economic difficulties this year, based on the fact that inflation slowed last year and the country’s monetary policies were restrictive.
The country’s Central Bank has struggled in recent years to lower inflation rates since the price increase was recorded in 2021. Canada’s economy was boosted last year by historic population growth.
Economists expect the country’s economy to get back on track in the second half of this year, if Canadians manage to withstand the current situation the country is going through.
Source: infobae
