GDP in Guatemala
Guatemala - GDP
Economy slows in Q3
In Q3 2016, the Guatemalan economy expanded 2.6% over the same period of the previous year, the slowest pace in four years. The result followed Q2’s revised 3.6% pace of growth (previously reported: 3.4% year-on-year). The deceleration was due to a steep fall in total investment growth, cancelling out improvements in other components.
Private consumption growth accelerated from 3.9% in Q2 to 4.3% in Q3, thanks to strong remittance inflows. Government consumption returned to growth for the first time since Q1 2015, growing 1.8% in Q3, contrasting the 6.2% contraction in Q2. Fixed investment growth slowed to 1.3%, down from 1.6% in Q3 and the slowest growth rate in over one year. This, together with a fall in inventories brought down the overall investment figure from 12.0% in Q2 to 5.6% in Q3. As a result, growth in domestic demand increased from 3.9% in Q2 to 4.2% in Q3.
On the external side of the economy, the contraction in exports slowed from 2.1% in Q2 to 0.5% in Q3. Import growth accelerated from 1.3 % in Q2 to 1.6% in Q3. As a result, the external sector’s contribution to growth improved from minus 1.1 percentage points in Q2 to minus 0.8 percentage points in Q3.
Consensus Forecast participants see GDP growing 3.7% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, panelists expect the economy to also expand 3.7%.
Guatemala - GDP Data
|Economic Growth (GDP, annual variation in %)||4.2||3.0||3.7||4.2||4.2|
5 years of economic forecasts for more than 30 economic indicators.
Guatemala GDP Chart
Source: National Statistical Institute and FocusEconomics calculations.
|Exchange Rate||7.53||-0.14 %||Jan 20|
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January 16, 2017
In Q3 2016, the Guatemalan economy expanded 2.6% over the same period of the previous year, the slowest pace in four years.
January 11, 2017
In December, consumer prices remained virtually unchanged as they increased just 0.01% from the previous month, following the 0.39% increase seen in November.
January 9, 2017
In November, economic activity increased 3.0% from the same month last of the previous year, according to the monthly indicator for economic activity (IMAE, Índice Mensual de la Actividad Económica).
November 7, 2016
In October, consumer prices increased 0.69% from the previous month, contrasting the 0.21% contraction seen in September.
November 4, 2016
In October, remittances from workers abroad increased 3.8% from the same month last year, reaching USD 606 million and marking a drastic deceleration from September’s 12.9% expansion. In the 12 months up to October, remittances reached a new all-time high of USD 7.0 billion.