Xifres de comerç exterior de Guatemala

Foreign Trade in Figures

Regional integration is a priority of Guatemalan foreign policy, and trade represents 48% of GDP (World Bank, latest data available). The country is a member of the Central American Integration System (SICA), which promotes regional economic cooperation. Guatemala is also part of the Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) with the United States and other regional partners, facilitating tariff-free access to a significant market. Additionally, Guatemala has trade agreements with the European Union, Mexico, and other Latin American countries, aiming to increase exports, particularly in agricultural and manufactured goods. According to figures from the Ministry of Economy, in 2023, the manufacturing sector accounted for 67.8% of total exports, the agricultural sector for 26.7%, and the extractive sector for 5.5% of the total. The main export products included clothing items, which made up 10.8% of total exports. Within this category, the leading sub-item was cotton knit sweaters and similar garments. Edible fats and oils accounted for 7.5%, driven mainly by crude palm oil. Fresh bananas represented 7% of total exports, with coffee accounting for 6.7%. On the other hand, the main imports were mechanical machinery and equipment for electrotechnical use (10.4%), transport vehicles (9.7%), petrol (6.2%), and diesel (5.8%). In terms of trade in services, travel services were the top export, making up 32.1%, followed by transport services at 14.5%. On the import side, transport was the main service imported, representing 43.5%, while travel services made up 22%.

In 2023, Exports to Central America account for 36.2% of the total (mainly to El Salvador, Honduras and Nicaragua), followed by the United States with 30.8%, and the European Union with 10%, while Mexico accounted for 4.7% and Panama for 2.3%. Of total imports, the United States was the leading supplier, accounting for 33.6%, followed by Central America with 11.4% and Mexico with 11.1% (data Ministry of Economy).

The country’s trade balance is structurally in deficit. According to data by the WTO, in 2023, exports of goods reached USD 14.2 billion, while imports stood at USD 30.3 billion (-9.5% and -5.6% y-o-y, respectively). According to the World Bank, the country’s trade deficit reached 15.1% of its GDP in 2023 (from 16.5% one year earlier). Figures from the Banco de Guatemala show that, in 2024, exports reached USD 14.57 billion, while imports totalled USD 32.45 billion.