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||7.34||-0.09 %||Mar 28|
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March 10, 2017
In January, economic activity in Guatemala increased 3.6% from the same month of last year, according to the monthly indicator for economic activity (IMAE, Índice Mensual de la Actividad Económica).
March 8, 2017
In February, consumer prices Guatemala increased 0.3% from the previous month, down from January’s 0.5% increase.
March 8, 2017
In February, remittances from Guatemalan workers abroad increased 10.0% from the same month last year, reaching USD 613.9 million and marking a sharp slowdown from January’s 21.9% expansion. In the 12 months up to February, remittances remained at an all-time high of USD 7.3 billion.
February 8, 2017
In January, consumer prices increased 0.5% from the previous month, following December’s flat reading.
February 8, 2017
In January, remittances from workers abroad increased 21.9% from the same month last year, reaching USD 587.6 million and marking a strong acceleration from December’s 13.4% expansion.