Guatemala: Growth in remittances accelerates in June
July 5, 2017
In June, remittances from workers abroad increased 17.7% from the same month last year, reaching USD 723.3 million and marking a slight deceleration from May’s 19.5% expansion.
In the 12 months up to June, remittances increased to an all-time high of USD 7.7 billion. June’s cumulative transactions represented a 13.3% increase from the same period of last year and followed May’s 13.0% increase. Remittances account for over 10% of the country’s GDP and are an important source of income for Guatemalan households.
Author: David Ampudia, Economist