In the first six months of the year more than $2,000 million came into the country from abroad.
Tuesday, July 12, 2011
Remittances sent by Guatemalan families living abroad have increased by 9.3% compared to the first half of 2010.
The highest figures were recorded for June, with more than $416 million flowing into the country via this route, according to the Central Bank of Guatemala (Banguat).
An article in Prensalibre.com notes, "Alvaro Caballero, an analyst at the National Bureau for Migration in Guatemala, said that there are three factors fueling the increase in remittances to the country.
The first, he said, is related to the fact that Guatemalan migrants have settled in regions where there are no anti-immigration policies, the second reason is attributed to U.S. economic recovery, and third is the voluntary return of migrants who are transferring their savings to the country.
The Banguat expected that by 2011 remittances will report growth of 5% totalling $4,356 million. "
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During the first seven months of 2013, remittances to Guatemala totalled $2,924 million, $142 million more than in the same period in 2012.
Prensalibre.com reports: "Last July, the receipt of remittances was $445.7 million, which means an increase of 5.6%, or $24 million more compared to July 2012 ($422 million) ...".
Remittances from January to August were $3.2 billion, 9.87% more than the $2.9 billion sent during the first 8 months of 2011.
In August the amount of remittances received totaled $441.4 million, an increase of 7.8% compared to August 2011, according to data from the Bank of Guatemala.
In 2011 remittances grew by 5% compared to 2010; so far 2012 the amounts have already exceed those from the same period in 2009, making up 10%-11% of Guatemala's GDP.
In 2011, remittances to Guatemala exceeded the record highs of 2007 and 2008, before the global crisis. Last year, Guatemalan migrants sent home $4.378 billion, according to the Bank of Guatemala (Banguat).