Guatemala Remittances August 2019


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.

FocusEconomics Consensus Forecast participants see private consumption expanding 3.6% in 2020, which is unchanged from last month’s forecast, and to expand 3.6% again in 2021.

Author:, Economist

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Guatemala Remittances Chart

Guatemala Remittances September 2019 0

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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