From January 1 to February 29, the country received a cumulative total of US$2,996 million (regarding Q23,368 million), Álvaro González Ricci, president of the central bank, stated at a press conference when announcing the growth rate. The indicator was 8.3% compared to the same period in 2023, when US$2,767.6 million were received. That is to say, US$229 million more were received.
The official pointed out that last February alone, the income from these resources totaled US$1,527 million and in January it was US$1,468 million. These figures exceed US$1,386.5 million in January and US$1,381.1 million in February 2023.
When analyzing the series of statistics, since March 2021 the monthly income in Guatemala exceeds US$1 billion per month, that is, for 36 consecutive months, income of around that amount has been observed, with an amount of US$54,286 million.
In 2023, the income of remittances stood at US$19,804 million and in 2022 at US$18,040 million, and with the observed trend, transfers have become one of the engines of the national economy, on the consumption.
According to the analyzes of the central bank, the remittances sent by migrants rise or fall according to the seasons, which are generally associated with Holy Week, Mother’s Day, Father’s Day and Mother’s Day. All Saints’ Day, but they tend to increase in December due to the Christmas and New Year celebrations.
In the top 10
According to the report “Family remittances to Latin America and the Caribbean in 2023”, of the Inter-American Dialogue entity based in Washington DC, presented in the third quarter of last year, Guatemala is among the 10 countries with the greatest flow of these resources in the region.
It is estimated that last year, the entire area received a volume that exceeded US$157 billion, influenced by growing migration. And following Mexico, Guatemala is the country that receives the most transfers of this type, according to the publication.
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