Guatemala Remittances December 2019


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.

FocusEconomics Consensus Forecast participants see private consumption expanding 3.6% in 2020, which is unchanged from last month’s forecast, and to expand 3.6% again in 2021.

Author:, Economist

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Guatemala Remittances Chart

Guatemala Remittances December 2019 0

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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