For the international organization, during 2020, Guatemala's economy showed resilience, since in the context of the crisis caused by the Covid-19 outbreak, the GDP contracted only 1.5%.
According to the International Monetary Fund, in a context of favorable specialization of production and exports, resilience of remittances, and unprecedented support from monetary and fiscal policies, the drop in Guatemalan production was minimal compared to that reported in other Central American countries.
Due to the spread of the covid-19, family remittances sent to the country fell in March, April and May; however, the trend was reversed in June, when a 9% year-on-year variation was registered.
The most recent data from the Bank of Guatemala show that in the first six months of 2020 the country received remittances for $4.88 billion, an amount that is 1% lower than the $4.92 billion registered in the same period in 2019.
During the first six months of 2019, family remittances sent to Guatemala totaled $4.927 million, 12% more than the same period last year, growth that is higher than the 9% reported from January to June 2018.
The latest figures from the Bank of Guatemala detail that in June 2019 the country received remittances of $882 million, amount that is 10% higher than the $801 million registered in the same month of 2018.
Last year, the flow of family remittances registered by the country reached the highest annual amount, with $9.288 million, 13% more than in 2017.
The most recent figures from the Bank of Guatemala show that in December 2018 the country received $843 million in remittances, 17% more than the $720 million recorded in the same month in 2017.
Between 2011 and 2018, remittance income has nearly doubled, rising from $4.378 million to $9.288 million in 2018.
In the first ten months of the year, income from family remittances totaled $7.687 million, 13% higher than reported in the same period in 2017.
The latest data from the Bank of Guatemala show that in October 2018 the country received $864 million in remittances, 19% more than the $728 million registered in the same month in 2017.
Between the first ten months of 2011 and the same period in 2018, remittance income has almost doubled, up from $3.656 million in 2011 to $7.687 million in 2018.
During the first nine months of the year, income from family remittances reached $6,824 million, 12% higher than the amount reported for the same period in 2017.
The most recent figures from the Bank of Guatemala show that in September 2018 the country received remittances of $746 million, which is 11% higher than the $672 million reported for the same month in 2017.
Between January and June of this year, Guatemalans living abroad sent back $4.051 billion in remittances, 15% more than the amount sent in the first half of 2016.
The latest figures from the Bank of Guatemala indicate that in June alone, $723 million in family remittances came into the country, 17% more than in June of last year.
Last January remittances from Guatemalans abroad amounted $394 million, $36 million more than the $357.87 million sent in the same month in 2013.
Remittances from Guatemalans from abroad make up 10% of GDP. In January 2014 $394 million was received, $36 million more than the $357.87 million reported in the same month last year, according to data from the Bank of Guatemala (Banguat).
The amount of remittances from one Central American country to another now reaches $1 billion.
Revistamyt.com reports: "The money transfer company AirPak, representative of Western Union (WU) in Central America, has announced the start of a strategy that aims to compete in the market of remittances sent by internal migrants in the isthmus."
According to Carlos De Paredes, manager of the company in Guatemala, the local market is worth around $300 million and about $1 billion at the regional level. The firm has no presence in Panama.
Last October, the country received $480 million in remittances, mainly from the U.S.
Data provided by the Bank of Guatemala (Banguat) shows that the difference was $65 million. When compared with the revenue from September, growth was 14.11% as at that time $420.68 million was reported.
"In the past 10 months, according to the Banguat, Guatemalans in the U.S. sent across $4.281.36 million," reported Prensalibre.com.
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) ...".
According to statistics from the Bank of Guatemala (Banguat) the amount which came in last July is also higher by 6.8% compared to June when $417 million was received.
In May, the country received $476.99 million, $25.43 million more compared to the same month in 2012 when the figure was $451.56 million.
Figures from the Bank of Guatemala (Banguat) show that foreign income, mainly from the United States during the first five months of the year was $2.06132 billion, 6.91% higher than the same period in 2012 when it totaled $1.92813 billion.