Domestic mail volumes fell by more than a quarter, driven lower by a sharp drop in admail and other mailings for large customers. With no domestic rate increases introduced since 2010, mail revenue fell 21% year on year in 2019. A 7% increase in subsidies and transfers from the government – equating to more than 60% of total revenue – was insufficient to offset the decline in net sales. In Q1 2020, the Ministry of Communications and Transportation proposed a restructuring of Correos de México to help turn around financial performance. For more details download the latest IPC Carrier Intelligence Report for Correos de México.
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