Guatemala: Remittances expand at a slower pace in September
October 6, 2017
Remittances from workers abroad grew 10.7% in September from the same month a year earlier, reaching USD 672.9 million and marking a slowdown from August’s 14.3% expansion.
In the 12 months through September, remittances increased to an all-time high USD 8.0 billion. Moreover, cumulative transactions through September represented a 15.3% increase over the same period a year ago, a slight deceleration from August’s respective 15.5% increase. Remittances account for more than a tenth of the country’s GDP and are an important source of income for Guatemalan households.
Author: Christopher Thomas, Economist