Guatemala Remittances March 2021

Guatemala

Guatemala: Growth in remittances surges in March

April 19, 2021

Remittances totaled USD 1,285.6 million in March, jumping 72.2% year-on-year (January: +16.7% yoy). In the 12 months up to March, remittances reached USD 12.1 billion, up from February’s USD 11.5 billion. The 12-month rolling sum marked a 13.0% increase from a year prior (February: 7.2% yoy).

Remittances are a key source of income for Guatemalan families and tend to follow employment trends in the United States, where the majority of remittance payments originate from. As such, the expected recovery in the U.S. amid vast government stimulus should boost remittances inflows and support the Guatemalan economy.

FocusEconomics Consensus Forecast participants see private consumption expanding 4.1% in 2021, which is up 0.3 percentage points from last month, and increasing 3.5% in 2022.


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Guatemala Remittances March 2021



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