Guatemala Remittances March 2019

Guatemala

Guatemala: Stable growth in remittances in March

April 4, 2019

Remittances from workers abroad increased 9.6% in March, matching February’s print. Remittances totaled USD 826.7 million and growth in the 12-month moving sum accelerated to 14.6% from 13.9% in February.

Remittances are a key source of income in the Central American country and usually follow employment trends in the United States, where most remittances originate. Moderating economic momentum in the United States should therefore lead to a more moderate pace of growth in remittances. A key downside risk to remittances growth is uncertainty over U.S. immigration policy.

FocusEconomics Consensus Forecast participants see private consumption expanding 3.4% in 2019, which is unchanged from last month’s forecast. For 2020, our panelists expect private consumption to increase 3.6%.


Author:, Economist

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Guatemala Remittances March 2019 0

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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