Guatemala: Growth in remittances ebbs in October
Remittances totaled USD 1,133 million in October, representing a 13.3% year-on-year jump, which follows September’s 17.8% year-on-year surge. On a 12-month moving average basis, remittances reached USD 111.0 billion in October, above the USD 10.8 registered in the prior month. October’s 12-month rolling total marked a 5.9% increase from a year earlier (September: 6.0% 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.