Guatemala GDP

Guatemala

Guatemala: Economy picks up in Q1

July 10, 2015

In Q1 2015, the economy expanded 4.8% over the same period of the previous year. The expansion marked an improvement compared to the 4.4% increase tallied in Q4 2014.

The acceleration in Q1 reflects an improvement in domestic demand, whereas the external sector decreased compared to the previous quarter. Government consumption increased by 6.9%, which represented an acceleration from Q4’s 6.6% expansion. Private consumption also ticked up to a 5.0% rise from Q4’s 4.1% increase. Meanwhile, fixed investment performed worse than in the previous quarter, falling from a 9.3% expansion in Q4, to a 3.6% increase in Q1.

On the external side of the economy, exports of goods and services grew 3.5%, which was significantly lower than Q4’s 8.3% expansion. Conversely, imports inched down from a 4.1% expansion (Q4: +4.2% year-on-year). As a result, the external sector’s net contribution to overall growth swung from plus 0.6 percentage points in Q4 to minus 0.7 percentage points in Q4.

The Central Bank expects the economy to grow between 3.5% and 4.1% in 2015. Consensus Forecast participants see GDP growing 3.9% in 2014, which is unchanged from last month’s forecast. For 2015, panelists expect the economy to expand 3.6%.


Author:, Economist

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Guatemala GDP Q115

Note: Year-on-year changes of GDP in %
Source: Guatemala Central Bank and FocusEconomics Consensus Forecast


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