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.
Author: Christopher Mc Innes, Economist