Guatemala Economic Outlook
April 12, 2022
The economy began the year on a relatively solid footing, with economic activity inching higher in January from December, while the merchandise trade deficit narrowed in January versus December, suggesting a softer drag from the external sector. However, the Russian invasion of Ukraine likely derailed some of the momentum, as consumer price inflation jumped to a 10-month high in March. This, coupled with softer growth in remittances in the first quarter as a whole, will likely have eaten into consumers’ pockets. In an attempt to limit the negative impact of greater energy prices on household incomes, President Giammattei extended the coverage of electricity subsidies in early March. In early April, in its concluding Article IV statement, the IMF noted a positive outlook despite elevated external risks, and called for continued reform efforts to further strengthen the economy.Guatemala Economic Growth
Economic growth is set to moderate notably this year amid a tougher base of comparison. Softer restrictions on daily life and robust remittance inflows should support domestic demand. The balance of risks is skewed to the downside, however, as lingering pandemic-related uncertainty amid a low vaccination rate and the war in Ukraine cloud the outlook. FocusEconomics panelists estimate the economy to grow 4.0% in 2022, which is down 0.1 percentage points from last month’s forecast, and to expand 3.3% in 2023.Guatemala Economy Data
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Guatemala Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 7.71 | 0.22 % | Jan 01 |
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Guatemala Economic News
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Guatemala: Economic activity growth eases in March
May 13, 2022
Economic activity rose 4.3% year-on-year in March (February: +4.6% yoy).
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Guatemala: Inflation comes in at highest level since May 2021 in April
May 12, 2022
Consumer prices rose 2.47% in April over the previous month, accelerating from the 1.89% increase logged in March.
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Guatemala: Growth in remittances cools in March
May 10, 2022
Remittances rose to a record-high USD 1,516.1 million in April, with annual growth accelerating to 23.1% year on year in the month (March: +16.1% yoy).
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Guatemala: Economic activity growth ebbs in February
April 26, 2022
Economic activity grew 3.9% year-on-year in February (January: +4.6% yoy).
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Guatemala: Economy grows at record pace in 2021, despite a Q4 cooldown
April 26, 2022
Economic growth cooled to an annual 4.7% in the fourth quarter of 2021 from 8.1% in the third quarter.
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