Guatemala: Remittances Up 14%

From January to September 2019, family remittances to Guatemala totaled $7.748 million, 14% more than in the same period in 2018.

Wednesday, October 16, 2019

The most recent figures from the Bank of Guatemala (Banguat) indicate that in September 2019 the country received remittances of $892 million, 20% more than the $745 million recorded in the same month in 2018.

Between the first nine months of 2013 and the same period in 2019, remittance income practically doubled, from $3.801 billion in 2013 to $7.748 billion in 2019.

The 13% increase recorded from January to September of this year with respect to the same period in 2018, represents an acceleration in the growth of remittance flow, since for the first nine months of 2018 a growth of 11% was reported.

Sergio Recinos, president of Banguat, explained to Prensalibre.com that "... the reception of family remittances has been increasing since last May."

Recinos explained that the upward behavior is because of "... First, the performance of the economy in the United States and, above all, the unemployment rate is very low and benefits the Latino population. On the other hand, the noise of immigration policies generates that people who are in an irregular immigration situation anticipate sending resources and savings."

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More on this topic

Remittances: Good Outlook for 2020

February 2020

During the first month of the year, family remittances sent to Guatemala registered a 22% year-on-year variation, a rise that exceeds the 8% increase registered in the same period in 2018.

According to the most recent figures from the Bank of Guatemala, in January 2020 the country received remittances of $834 million, an amount that exceeds by $46 million that registered in the same month of 2019.

Remittances: Record Figures in Guatemala

November 2019

During October 2019, family remittances sent to the country totaled nearly $1 billion, the largest amount recorded in a single month.

The most recent figures from the Bank of Guatemala (Banguat) show that in October 2019 the country received remittances of $999.96 million, 16% more than the $863 million recorded in the same month in 2018.

Honduras: Remittances Increase 9%

October 2018

Family remittances reached $3.509 million during the first nine months of the year, 9% more than the same period last year.

According to the figures from the Central Bank of Honduras, the country received family remittances for $295 million in the ninth month of the year, and from January to September it has received a monthly average of $389 million.

Honduras: Remittances Up 3% in August 2018

September 2018

During the first eight months of 2018, remittances received from abroad totaled $3.214 billion, 3% more than in the same period in 2017.

According to figures from the Central Bank of Honduras (BCH), between the first eight months of 2017 and the same period in 2018, the country increased the volume of remittances received by $97 million, rising from $3.214 billion to $3.117 billion. 

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