Guatemala: Growth in remittances accelerates in September
October 30, 2019
Growth in remittances from workers abroad accelerated to 19.6% year-on-year in September from 14.0% in August. Remittances totaled USD 892.3 million in September, down from USD 980.6 million in August; however, growth in the 12-month moving sum inched up to 10.2% in September from 10.1% in August.
Remittances are a key source of income for Guatemalan families and generally tend to follow employment trends in the United States, as the majority of remittances originate from the U.S. Easing economic momentum in the U.S. coupled with uncertain immigration policies could lead to softer growth in remittances.
Author: Jan Lammersen, Economist