According to the Bank of Guatemala (Banguat), remittances received in July totaled $349.8 million, 9% less than the $384.6 million received in the same month in 2010.

"Compared to remittances received in June, when there was a monthly record of $416.4 million, the drop was 16 percent.

The last time remittances income reported a drop was in February 2010, when they fell 2.6 percent compared to the same month in 2009.
However, the Banguat reports that during the first 7 months of the year, Guatemalans working abroad have sent their relatives in the country a total of $2,524billion, up 6.5 percent from the $2,370 million received in the same period last year", reported Elperiodico.com.gt

Source: elperiodico.com.gt

More on this topic

Remittances to El Salvador Decrease by 13.6%

May 2009

In April, received remittances totaled $292.5 million, compared to $338.5 million during the same period last year

In the first quarter of this year, received remittances were 9.2% lower than during the first quarter in 2008.

Keny López wrote in Laprensagrafica.com: "So far this year, there have been four other decreases: -8.4% in January, -7.8% in February, -6.7% in March and -13.6 % in April.

IDB sees remittances to Latin America declining in 2009

March 2009

Fourth quarter of 2008 registers first decline in nearly a decade. Flows of money sent home by migrants hit by economic slowdown, exchange rate swings

After almost a decade of growth, remittances to Latin America and the Caribbean are likely to decline in 2009 for the first time since the Inter-American Development Bank started tracking these flows in the year 2000. Remittances have been decreasing since late 2008.

Remittances to El Salvador on the decline

November 2008

The total remittances during October was $304.3 million or $400,000 less than the previous month.

It is almost $20 million less than for the same month in 2007, when $323.8 million was sent...

The figure for October confirms the fears of slowdown that analysts have been announcing in the last few months.

Remittances to Guatemala drop 2.9% in October

November 2008

Only $361 million were received in October compared to $371 million last year, according to the Guatemalan Bank (Banquat).

According to the International Immigration Organization (IMO), family income from remittances total close to 11 percent of the Gross National Product (GNP) for Guatemala and benefits 4.1 million persons.