Guatemala Economic Activity January 2021

Guatemala

Guatemala: Economic activity growth slows in January

March 12, 2021

Economic activity rose 3.2% on an annual basis in January, easing from December 2020’s 5.3% increase. The continued growth in January was largely driven by the manufacturing; trade and vehicle repair; agricultural, and real estate sectors.

On a 12-month rolling basis, economic activity contracted 1.9% in January, down from the 1.8% fall recorded in December 2020.

Data from the first month of the year indicated that the economy continued its gradual improvement, as economic activity expanded for the fifth consecutive month. However, remittance growth recorded a marked slowdown in January, which likely contributed to the moderation in economic activity from December’s six-year high rate of expansion. Looking ahead, as demand returns amid vaccination programs at home and abroad, economic growth is projected to bounce back in 2021.

GDP is seen expanding 3.4% in 2021. For 2022, our panelists expect the economy to grow 3.5%.


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Guatemala Economic Activity January 2021 0

Note: Year-on-year changes and annual average variation of economic activity in %.
Source: Guatemala Central Bank and FocusEconomics calculations.


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