Colorful city in Guatemala

Guatemala Remittances August 2020

Guatemala: Remittances growth eases in August

Remittances totaled USD 1,050 million in August (July: USD 1,079 million), representing a 7.1% year-on-year increase. This follows July’s 13.8% year-on-year surge. On a 12-month moving average basis, remittances reached USD 10.7 billion in August, above the USD 10.6 registered in July. August’s 12-month rolling total marked a 5.9% increase from a year earlier (July: 6.5% year-on-year).

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. After falling significantly in the second quarter, the strong rise in remittance inflows at the outset of the third quarter bodes well for household spending in the three months ending in September. However, the uncertain global economic backdrop and employment outlook cloud the horizon: A further uptick in joblessness in the United States would drag on the inflow of remittances.

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