Guatemala Remittances August 2017

Guatemala

Guatemala: Growth in remittances moderates in August

September 8, 2017

In August, remittances from workers abroad increased 14.3% from the same month last year, reaching USD 707.8 million and marking an slowdown from July’s 23.9% expansion.

In the 12 months up to August, remittances increased to an all-time high of USD 7.9 billion. August’s cumulative transactions represented a 15.5% increase from the same period of last year and followed July’s 15.8% increase. Remittances account for over 10% of the country’s GDP and are an important source of income for Guatemalan households.

FocusEconomics Consensus Forecast participants see total consumption expanding 3.6% in 2017, which is down 0.5 percentage points from last month’s estimate. For 2018, panelists expect total consumption to increase 3.9%.


Author:, Economist

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Guatemala Remittances August 2017

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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