Current Account in Guatemala
Guatemala - Current Account (billions of U.S. Dollars)High-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 (USD bn) Data
|Current Account Balance (USD bn)||-0.8||0.6||0.8||0.6||1.9|
5 years of economic forecasts for more than 30 economic indicators.
Guatemala Current Account (USD bn) Chart
Source: Guatemala Central Bank and FocusEconomics calculations.
|Exchange Rate||7.71||0.22 %||Jan 01|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
November 30, 2022
At its latest meeting on 30 November, the Monetary Board of the Central Bank of Guatemala (Banguat) accelerated its hiking cycle, raising the key policy rate by 75 basis points to 3.75%.
November 17, 2022
Economic activity grew 4.0% year on year in September (August: +4.5% yoy).
November 10, 2022
Inflation came in at 9.7% in October, which was up from September’s 9.0%.
October 7, 2022
Economic activity grew 3.9% year on year in August (July: +2.9% yoy).
October 7, 2022
Remittances eased to USD 1,597.2 million in September from USD 1,642.7 million, but annual growth rose to 22.9% in September from 18.3% in August.