Guatemala: Remittances inflows moderate in June
July 5, 2019
Remittances from workers abroad rose 10.1% year-on-year in June, down from the 20.5% jump recorded in May. Remittances totaled USD 882.0 million (May: USD 974.5 million). Meanwhile, growth in the 12-month moving sum inched up from 9.7% in May to 9.8% in June.
Remittances are an important source of income for Guatemalan families and generally follow employment trends in the United States, where most remittances originate. Moderating economic momentum in the U.S. could lead to slower growth in remittances, while possible changes to U.S. immigration policy remain a key downside risk to the remittances outlook.
Author: Jan Lammersen, Economist