Guatemala: Visió econòmica i política
Regional integration is a priority of Guatemalan foreign policy, and trade represents 49.9% of GDP. However, poverty, violence, and political uncertainty remain the greatest obstacles to increased trade. Guatemala is the 92nd largest exporter and the 75th largest importer in the world. The country mainly exports bananas (6.8%), coffee (6.8%), palm oil (5.1%), nutmeg (4.8%), and cane or beet sugar (3.7%); while imports include petroleum oils (11.6%), motor vehicles (4.7%), telephone sets (3.1%), and medicaments (2.5%).
Guatemala's main trade partners are the United States, El Salvador, Mexico, China, Honduras, Nicaragua, and Costa Rica. Guatemala is one of five countries in the Central American Common Market (CACM) along with Costa Rica, El Salvador, Honduras, and Nicaragua. The country is also a member of Central American Integration System (SICA). The European Union supports this integration process, which was one of the conditions of an agreement between the two regions. Guatemala is, after Nicaragua, the second largest recipient of European cooperation aid in Central America and benefits from the Generalised Scheme of Preferences.
In 2021, exports of goods reached USD 13.7 billion, while imports stood at USD 26.6 billion. As for services, Guatemala imported USD 4.2 billion, while exported USD 2.9 billion. Overall imports registered a 22.1% increase from the previous year, and exports grew by 11.7% over the same period. As a result, Guatemala had trade deficit of USD 10.8 billion concerning the trade of goods, which is slightly lower than the overall trade deficit including services, which amounted to USD 12 billion.
Foreign Trade Values | 2018 | 2019 | 2020 | 2021 | 2022 |
Imports of Goods (million USD) | 19,699 | 19,882 | 18,205 | 26,607 | 32,116 |
Exports of Goods (million USD) | 10,769 | 11,175 | 11,521 | 13,753 | 15,695 |
Imports of Services (million USD) | 3,541 | 3,641 | 2,826 | 4,088 | 5,455 |
Exports of Services (million USD) | 3,707 | 3,679 | 2,586 | 2,904 | 3,900 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2018 | 2019 | 2020 | 2021 | 2022 |
Foreign Trade (in % of GDP) | 47.0 | 45.5 | 41.1 | 49.5 | 54.7 |
Trade Balance (million USD) | -7,985 | -7,967 | -6,314 | -10,887 | -14,186 |
Trade Balance (Including Service) (million USD) | -7,819 | -7,929 | -6,554 | -12,070 | -15,789 |
Imports of Goods and Services (Annual % Change) | 3.9 | 4.9 | -5.8 | 19.5 | 4.4 |
Exports of Goods and Services (Annual % Change) | -0.4 | 0.2 | -7.5 | 10.3 | 7.0 |
Imports of Goods and Services (in % of GDP) | 28.8 | 27.9 | 24.8 | 31.8 | 35.7 |
Exports of Goods and Services (in % of GDP) | 18.2 | 17.6 | 16.3 | 17.7 | 19.0 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) | 2027 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | -1.5 | 3.3 | 3.5 | 3.4 | 3.3 |
Volume of imports of goods and services (Annual % change) | 2.7 | 4.2 | 4.3 | 4.4 | 4.6 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2022 |
United States | 32.3% |
El Salvador | 13.0% |
Honduras | 10.0% |
Nicaragua | 6.3% |
Mexico | 4.4% |
Netherlands | 4.2% |
Costa Rica | 4.0% |
China | 2.7% |
Panama | 2.0% |
Spain | 1.9% |
Dominican Republic | 1.7% |
Italy | 1.3% |
Canada | 1.2% |
South Korea | 1.0% |
Japan | 1.0% |
Belize | 0.9% |
Chile | 0.8% |
Germany | 0.8% |
Colombia | 0.7% |
Saudi Arabia | 0.7% |
See More Countries | 34.0% |
Main Suppliers (% of Imports) |
2022 |
United States | 32.0% |
China | 18.2% |
Mexico | 10.1% |
El Salvador | 3.3% |
Costa Rica | 2.5% |
Brazil | 2.4% |
Japan | 2.2% |
India | 2.2% |
Colombia | 2.0% |
Honduras | 1.9% |
Germany | 1.6% |
Vietnam | 1.5% |
South Korea | 1.5% |
Spain | 1.3% |
Argentina | 1.2% |
Canada | 1.1% |
Italy | 1.0% |
Russia | 0.9% |
Chile | 0.7% |
Nicaragua | 0.7% |
See More Countries | 33.8% |
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
3.0 bn USD of services exported in 2019 | |
41.00% | |
Personal travelPersonal travel | 33.21% |
Business travelBusiness travel | 7.79% |
21.67% | |
16.09% | |
12.63% | |
3.47% | |
2.67% | |
1.33% | |
0.57% | |
0.55% | |
0.02% |
3.7 bn USD of services imported in 2019 | |
43.25% | |
22.34% | |
Personal travelPersonal travel | 17.56% |
Business travelBusiness travel | 4.78% |
8.77% | |
7.76% | |
6.63% | |
5.86% | |
2.26% | |
1.66% | |
1.13% | |
0.34% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: November 2023
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