Record Remittances in Guatemala

For the first time in April the country received $490 million in remittances, equivalent to 9% of the total amount received in 2013.  

Thursday, May 8, 2014

Foreign exchange earnings from remittances reported by the Bank of Guatemala (BANGUAT) for the period January to April 2014 was $1.73 million, exceeding by 9% the amount received in the same period in 2013.

"In April the BANGUAT reported a total of $490,683,000, the highest monthly amount to be received in remittances. The figure marks a record in earnings from this concept, the highest registered prior to this was in October 2013 with $480 million. "

"Remittances represent ten percent of the Gross Domestic Product (GDP), according to Edgar Barquín, president of BANGUAT, goes about 50 percent of this income to consumption."



More on this topic

Remittances to El Salvador Up 3.5%

September 2013

During the month of August remittances to El Salvador totaled $326.6 million, $11.2 million more than in the same period in 2012.

From a press release issued by the Central Reserve Bank of El Salvador:

Remittances from Salvadorans living abroad during the month of August 2013, totaled $326.6 million, up by $11.2 million and recording a growth rate of 3.5% compared to the same month last year, reported the department of Studies and Economic Statistics at the Central Reserve Bank.

Guatemala: Remittances Up 6% This Year

November 2011

In the first ten months of the year, remittances totaled $3,656 million, 6% higher compared to the same period in 2010.

According to the Banco de Guatemala, the performance of remittances this year, after the crisis of 2009, has been positive, with the exception of last July in which a decline of 9% was recorded.

Remittances to Guatemala Increase by 8.5%

September 2011

In August, total remittances received amounted to $409.5 million, 8.5% higher than in the same month in 2010.

In July remittances reported a decline of 9% compared to the same month in 2010.

According to the Bank of Guatemala, between January and August the total amount of remittances coming into the country was $2.934 million, 6.7% higher than the $2.748 million in the same period of 2010.

Remittances to El Salvador as of March Reach $866 Million

April 2011

Remittances, vital for the country's economy, saw a 4.5% increase, year-on-year in the first quarter of 2011.

On average, in the first quarter of the year the country received $286.6 million in remittances, 0.9% more than the figure recorded in the same period of 2010.

"Remittances are an important source of income for the Salvadoran economy, making up 16.3% of the annual Gross Domestic Product (GDP), equivalent to 76.7% of total export value and covering 40.1% of the value of goods imported," according to Elsalvador.com.

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