Guatemala: Growth in remittances picks up in December
January 10, 2020
Remittances from workers abroad grew 11.6% year-on-year in December, up from the 8.3% increase registered in November. Remittances totaled USD 940.8 million in December, up from the USD 843.3 million recorded in the same month last year and the USD 819.9 million logged in November. Growth in the 12-month moving sum ticked down to 13.1% in December from 13.6% in November.
Remittances are a key source of income for Guatemalan families and generally tend to follow employment trends in the United States, as the majority of remittances originate from there. Easing economic momentum in the U.S. coupled with uncertain immigration policies could lead to softer growth in remittances.
Author: Jan Lammersen, Economist