Usually shipped to family members and friends of migrants in America, that tally represents 81 percent of this country's crude oil exports. Last year, remittances surpassed foreign investment to become the country's second-most-important source of revenue after oil.

So far his year, foreign investment is leading remittances, but only slightly In the first nine months of 2004 foreign direct investment rose 51 percent from last year to US13.6 billion, with the U.S. representing 42 percent of the amount and Spain accounting for 40 percent.

In addition to competing with investment, remittances have surpassed tourism and are approaching oil as a source of foreign currency.

Mexico has attributed the recent surge in money sent from the United States to greater use of electronic transfer services, which have been heavily promoted by banks and other financial services concerns vying for a share of the lucrative market.

This month, officials at the World Bank said Mexico and the United States have become a model for other countries by transferring Mexican migrant money home each year through formal financial institutions that shield the funds from criminal influences.

Mexican officials say there are about 25 million people of Mexican origin in the United States, about 10 million of whom were born in Mexico.

Some 85 percent of money transfers from the United States to Mexico were sent via these formal channels in 2003, a dramatic increase over previous years, according to the Bank of Mexico.