Guatemala: Remittances Grow by 9%

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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More on this topic

Remittances to Guatemala Up 10%

August 2013

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) ...".

Guatemala: Remittances up 9.9% in August

September 2012

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.

Remittances in Guatemalan Economy

April 2012

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).

Remittances to Guatemala Increase 9%

April 2011

In the first three months of the year the country received $972 million, 9.2% more than in the same period of 2010.

Remittances are getting close to 2008 levels; in the first three months of that year Guatemalans received $973 million.

Banguat data shows that foreign grew 9.2% from $890 million to $972 million between 2010 and 2011.

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