Guatemala: Growth in remittances eases in January
February 11, 2021
Remittances totaled USD 906.8 million in January, growing 8.6% year-on-year, down from December’s multi-year high of 23.7% jump. On a 12-month moving average basis, remittances reached USD 11.4 billion in January, up from the prior month’s USD 11.3 billion. January’s 12-month rolling sum marked a 7.1% increase from a year prior (December: +7.9% year-on-year). Remittances are a key source of income for Guatemalan families and tend to follow employment trends in the United States, where the majority of remittance payments originate from.FocusEconomics Consensus Forecast participants see private consumption expanding 4.1% in 2021, which is up 0.3 percentage points from last month, and increasing 3.5% in 2022.