Guatemala Remittances September 2017

Guatemala

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.

FocusEconomics Consensus Forecast participants see private consumption expanding 3.7% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, panelists expect private consumption to increase 3.9%, which is unchanged from last month’s forecast.


Author:, Economist

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Guatemala Remittances September 2017

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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