Guatemala Remittances June 2016


Guatemala: Remittances growth falls in June after May's record-breaking inflow

July 7, 2016

In June, remittances from workers abroad rose 14.6% over the same month last year, reaching USD 614.6 million. The overall dollar amount was slightly less than the USD 625.3 million recorded in May, which marked a record high. June’s growth figure, which was down from May’s 20.5% increase, marked the eight consecutive month of double-digit growth.

In the 12 months up to June, remittances amounted to an all-time high of USD 6.8 billion, up from USD 6.7 billion in May. June’s cumulative reading represented a 17.3% increase over the same period of last year and an acceleration from May’s 17.0% increase.

Remittances account for nearly 10% of the country’s GDP and are an important source of income for Guatemalan households. Given their significance to the economy, remittances are one of the key drivers of private consumption in the country.

FocusEconomics Consensus Forecast participants see total consumption expanding 3.7% in 2016, which is up 0.2 percentage points from last month’s estimate. For 2017, also panelists expect total consumption to increase 3.5%.

Author:, Economist

Sample Report

Looking for forecasts related to Remittances in Guatemala? Download a sample report now.


Guatemala Remittances Chart

Guatemala Remittances June 2016 0

Note: Monthly remittances in USD million and 12-month sum of remittances in USD billion.
Source: Guatemala Central Bank and FocusEconomics calculations.

Guatemala Economic News

More news

Search form