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.
Author: Christopher Mc Innes, Economist