Guatemala Remittances October 2019

Guatemala

Guatemala: Growth in remittances eases in October

November 25, 2019

Remittances from workers abroad grew 15.8% year-on-year in October, down from the 19.6% expansion recorded in September. Remittances totaled USD 1,000 million in October, up from USD 892.3 million in September. Growth in the 12-month moving sum edged down from 14.5% in September to 14.3% in October.

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 October 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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