GDP in Guatemala
Guatemala - GDP
Economy accelerates in Q4 2016
In Q4 2016, the economy expanded 3.0% over the same period of the previous year. The result marked an acceleration from Q3’s 2.6% pace of growth. The acceleration was due to a positive contribution from the external sector, which more than offset weakening domestic demand. Q4’s GDP outturn brought full-year growth to 3.1% in 2016, a sharp slow-down from 2015’s 4.1% GDP growth rate.
Private consumption growth slowed from 4.4% in Q3 to 4.0% in Q4, despite strong remittances growth. Government consumption growth also slowed, falling from 2.2% to 1.6% in Q4. On the other hand, fixed investment growth accelerated to 1.4%, up from 0.6% in Q3. Despite this acceleration, a fall in inventories caused overall investment to fall into contractionary territory: total investment contracted 5.0% in Q4, contrasting the 3.3% expansion observed in Q3. As a result, growth in domestic demand decreased from 4.0% in Q3 to 2.4% in Q4.
On the external side of the economy, exports grew 4.4% in Q4, contrasting the 1.5% contraction in Q3. With domestic demand weakening, import growth slowed from 2.2% in Q3 to 0.9% in Q4. As a result, the external sector’s contribution to growth improved from minus 1.3 percentage points in Q3 to plus 0.8 percentage points in Q4.
The Central Bank forecasts that GDP will grow between 3.0% and 3.8% in 2017 and between 3.0% and 4.0% in 2018. Consensus Forecast participants see GDP growing 3.6% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, panelists also expect the economy to expand 3.6%.
Guatemala - GDP Data
|Economic Growth (GDP, annual variation in %)||4.2||3.0||3.7||4.2||4.1|
5 years of economic forecasts for more than 30 economic indicators.
Guatemala GDP Chart
Source: National Statistical Institute and FocusEconomics calculations.
|Exchange Rate||7.34||0.03 %||Jun 16|
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June 7, 2017
In May, consumer prices in Guatemala increased 0.31% from the previous month, up from April’s 0.26% increase.
June 7, 2017
In May, remittances from workers abroad increased 19.5% from the same month last year, reaching USD 747.4 million and marking a sharp acceleration from April’s 5.0% expansion. In the 12 months up to May, remittances increased to an all-time high of USD 7.6 billion.
May 12, 2017
In April, consumer prices in Guatemala increased 0.26% from the previous month, up from March’s 0.24% increase.
May 10, 2017
In April, remittances from workers abroad increased 5.0% from the same month last year, reaching USD 639.9 million and marking a sharp deceleration from March’s 18.8% expansion.
May 4, 2017
In March, economic activity increased 3.5% from the same month of last year, according to the monthly indicator for economic activity (IMAE, Índice Mensual de la Actividad Económica).