Guatemala: Growth in remittances gains steam in November
Remittances totaled USD 938 million in November, representing a 19.9% year-on-year jump, which follows October’s 13.3% increase. On a 12-month moving average basis, remittances reached 11.1 billion in November, up from October’s 11.0 billion and a record high. November’s 12-month rolling total marked a 6.8% increase from a year prior (October: +5.9% 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.