Colorful city in Guatemala

Guatemala Remittances February 2022

Guatemala: Growth in remittances picks up pace in February

Remittances eased to USD 1,262.7 million in February, with annual growth picking up pace as remittance inflows expanded 33.9% year-on-year in the month (January: +30.2% yoy). Furthermore, on a 12-month rolling basis, remittances increased 37.6% year-on-year in February, up from January’s 36.4% rise.

Remittances are a key source of income for Guatemalan families and tend to follow labor market trends in the United States, where the majority of remittance payments originate from. The economic recovery in the U.S. amid fiscal stimulus is therefore expected to buoy remittances and support the Guatemalan economy; private consumption is a key engine of growth for the economy.

Analysts at the EIU added:

“We expect inflows workers’ remittances from abroad to keep growing in 2022, especially as planned infrastructure projects in the US are executed, supporting private consumption.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest