Current Account in Guatemala
Guatemala - Current AccountHigh-frequency data points to a slight moderation in economic growth in the first quarter. Firstly, the Central Bank’s monthly activity index recorded a softer expansion, on average, in the three months ending in March. Additionally, price pressures have risen in the same time frame and this—coupled with easing remittance inflows—bodes poorly for household spending. Finally, cooling goods import growth further underlines reduced domestic demand. That said, a smaller merchandise trade deficit suggests that the external sector will have dragged less on the economy. Momentum continued to moderate at the outset of the second quarter, as evidenced by an eight-month soft expansion in economic activity in April. Furthermore, inflation rose to a 14-month high in May and remittances growth eased on average in April–May, likely impeding private consumption.
Guatemala - Current Account Data
|Current Account (% of GDP)||-1.2||1.0||1.1||0.8||2.4|
5 years of economic forecasts for more than 30 economic indicators.
Guatemala Current Account Chart
Source: Guatemala Central Bank and FocusEconomics calculations.
|Exchange Rate||7.71||0.22 %||Jan 01|
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September 9, 2022
Economic activity rose 3.0% year on year in July (June: +3.5% yoy).
September 9, 2022
Remittances rose to USD 1,642.7 million in August and annual growth accelerated to 18.3% year on year in the month (July: +1.2% yoy).
September 8, 2022
Consumer prices rose 0.68% in August over the previous month, below the 1.08% rise seen in July.
August 31, 2022
The Monetary Board of the Central Bank of Guatemala (Banguat) increased its key policy rate by 50 basis points from 2.25% to 2.75% at its 31 August meeting.
August 12, 2022
Consumer prices increased 1.08% in July over the previous month, coming in below the 1.83% rise logged in June.