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.
Although forecasts at the start of the pandemic were pessimistic, during 2020 the country received remittances of $11.34 billion, an amount that is 8% higher than the $10.58 billion recorded in 2019.
According to the most recent report from the Bank of Guatemala, only in December, remittances amounted to $1.164 billion, 24% more than those reported in the same month in 2019, when the figure was $941 million.
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 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.
Last year, family remittances sent to Guatemala totaled $10.508 million, 13% more than what was reported in 2018.
According to the latest figures from the Bank of Guatemala, in December 2019 the country received remittances of $941 million, an amount that exceeds by 12% the $843 million registered in the same month in 2018.
Between 2013 and 2019 remittance income has almost doubled, as figures rose from $5,105 million in 2013 to $10,508 million in 2019.
From January to November 2019, family remittances sent to Guatemala totaled $9,567 million, 13% more than what was reported in the same period in 2018.
According to the most recent figures from the Bank of Guatemala, in November 2019 the country received $819 million in remittances, 8% more than the $757 million recorded in the same month in 2018.
Between the first eleven months of 2013 and the same period in 2019, remittance income practically doubled, from $4.658 million in 2013 to $9.568 million in 2019.
According to the Central Bank, the constructive activity and consumption spending that Guatemalans make with the money received from abroad will boost the economy by the end of 2019, and this expansive cycle could extend until 2020.
During this year residential and commercial construction, together with public investment, have affected activities such as manufacturing, mining and quarrying, private services and commerce, informed representatives of the Bank of Guatemala (Banguat).
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.
According to official data for the period from January to October 2019, family remittances sent to Guatemala totaled $8.747 million, 14% more than in the same period in 2018.
From January to September 2019, family remittances to Guatemala totaled $7.748 million, 14% more than in the same period in 2018.
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.
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.
During the first five months of 2019, family remittances sent to Guatemala totaled $4.045 million, 12% more than the same period last year, growth that is higher than the 8% reported from January to May 2018.
The latest figures from the Bank of Guatemala show that in May 2019 the country received remittances of $974 million, 21% more than the $809 million recorded in the same month in 2018.
During the first four months of 2019, family remittances totaled $3.070 million, 10% more than the same period last year, growth that is higher than the 8% reported from January to April 2018.
The latest figures from the Bank of Guatemala show that in April 2019 the country received $865 million in remittances, 12% more than the $770 million recorded in the same month in 2018.
In the first two months of 2019, income from family remittances in the country totaled $1.379 million, 9% more than in the same period last year.
The most recent data from the Bank of Guatemala show that in February 2019 the country received $690 million in remittances, 10% more than the $630 million recorded in the same month in 2018.
Between the first two months of 2012 and the same period in 2019, remittance income has almost doubled, from $655 million in 2012 to $1.379 million in 2019.
During 2018, family remittances to Central American countries and the Dominican Republic totaled $28.670 million, of which $9.288 million went to Guatemala.
In 2018, family remittances to Central America and the Dominican Republic (CARD) grew 11%, showing a slight slowdown with respect to what was observed in 2017 (12.0%). This slight slowdown was observed in all countries except Honduras, explained the Economic Commission for Latin America (ECLAC).
During the first month of the year, remittances from abroad to Guatemala totaled $688 million, 8% more than what was received in January 2018.
According to figures from the Bank of Guatemala, in January 2019 the country received $688 million in remittances, 8% more than the $635 million recorded in the same month in 2018.
In the last seven years, the amount of family remittances reported in January has doubled, with $305 million recorded in the first month of 2012 and $688 million in 2019.