Guatemala: Growth in remittances gains steam in December
January 8, 2021
Remittances totaled ISD 1,163 million in December, growing a 41-month high 23.7% year-on-year jump, which follows November’s 19.9% surge. On a 12-month moving average basis, remittances reached USD 11.3 billion in December, up from November’s USD 11.1 billion. December’s 12-month rolling sum marked a 7.9% increase from a year prior (November: +6.8% 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.