Guatemala: Growth in remittances jumps in January
Remittances from workers abroad jumped 21.3% year-on-year in January, notably up from December’s 11.6% increase, and totaled USD 834.6 million (January 2019: USD 688.1 million; December 2019: USD 940.8 million). On a 12-month rolling basis, growth in remittances rose to 14.1% in January from 13.1% in the prior month.
Remittances, which are a key source of income for Guatemalan families, tend to follow employment trends in the United States where the majority of remittances originate from. Going forward, easing economic momentum in the U.S. and policy uncertainty there could lead to softer growth in remittances.