Guatemala Remittances July 2017

Guatemala

Guatemala: Growth in remittances accelerates in July

August 3, 2017

In July, remittances from workers abroad increased 23.9% from the same month last year, reaching USD 664.2 million and marking an acceleration from June’s 17.7% expansion.

In the 12 months up to July, remittances increased to an all-time high of USD 7.8 billion. July’s cumulative transactions represented a 15.8% increase from the same period of last year and followed June’s 13.3% increase. Remittances account for over 10% of the country’s GDP and are an important source of income for Guatemalan households.

FocusEconomics Consensus Forecast participants see total consumption expanding 4.1% in 2017, which is unchanged from last month’s estimate. For 2018, panelists expect total consumption to increase 3.7%.


Author:, Economist

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Guatemala Remittances July 2017

Note: Monthly remittances in USD million and 12-month sum of remittances in USD billion.
Source: Guatemala Central Bank and FocusEconomics calculations.


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