Guatemala: Remittances inflows slow in August
September 3, 2019
Remittances from workers abroad rose 14.0% on an annual basis in August, decelerating from the 15.8% increase registered in July. Remittances totaled a robust USD 980.6 million in August (July: USD 947.8 million). On the other hand, growth in the 12-month moving sum accelerated to 10.1% in August from 9.9% in July.
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. coupled with uncertain immigration policies could lead to slower growth in remittances.
Author: Jan Lammersen, Economist