Guatemala flag Guatemala: Contexto político-econômico

Valores de comércio da Guatemala

Foreign Trade in Figures

Regional integration is a priority of Guatemalan foreign policy, and trade represents 55% of GDP (World Bank, latest data available). However, poverty, violence, and political uncertainty remain the greatest obstacles to increased trade. The country mainly exports coffee (7.1%), bananas (6.8%), palm oil (5.8%), cane or beet sugar (5.1%), and jerseys, pullovers, cardigans, waistcoats, and similar (3.3%); while imports are led by petroleum oils (13.9%), telephone sets (3.1%), motor cars and other motor vehicles (2.4%), medicaments (2.4%), motor vehicles for the transport of goods (2% - data Comtrade 2022).

In 2022, Guatemala’s main export partners were the United States (32.3%), El Salvador (13.0%), Honduras (10.0%), Nicaragua (6.3%), and Mexico (4.4%). As per imports, they came chiefly from the United States (32.0%), China (18.2%), Mexico (10.1%), El Salvador (3.3%), and Costa Rica (2.5% - data Comtrade). 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 the 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 Generalized Scheme of Preferences.

The country’s trade balance is structurally in deficit. According to data by the WTO, in 2022, exports of goods reached USD 15.7 billion, while imports stood at USD 32.1 billion. As for services, Guatemala imported USD 5.4 billion, while exported USD 3.9 billion. According to the World Bank, the country’s trade deficit reached 16.6% of its GDP in 2022 (from 14.1% one year earlier). Figures from the Banco de Guatemala show that the country’s exports of goods totaled USD 14.2 billion in 2023, against USD 25.9 billion in imports.

 
Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 19,88218,20526,60732,11630,318
Exports of Goods (million USD) 11,17511,52113,75315,69514,199
Imports of Services (million USD) 3,6412,8264,0545,4150
Exports of Services (million USD) 3,6792,5862,8853,8610

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 47.045.541.149.554.7
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) 3.94.9-5.819.54.4
Exports of Goods and Services (Annual % Change) -0.40.2-7.510.37.0
Imports of Goods and Services (in % of GDP) 28.827.924.831.835.7
Exports of Goods and Services (in % of GDP) 18.217.616.317.719.0

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) -4.72.93.33.53.8
Volume of imports of goods and services (Annual % change) 5.25.65.95.96.0

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Guatemala is part of the FTAA: Free Trade Area of the Americas, as well as the Central-American Common Market 
 

Main Partner Countries

Main Customers
(% of Exports)
2023
United States 32.3%
El Salvador 13.1%
Honduras 11.4%
Nicaragua 6.9%
Mexico 4.7%
See More Countries 31.5%
Main Suppliers
(% of Imports)
2023
United States 30.3%
China 18.5%
Mexico 10.7%
El Salvador 3.4%
Japan 2.7%
See More Countries 34.5%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

14.3 bn USD of products exported in 2023
Bananas, incl. plantains, fresh or driedBananas, incl. plantains, fresh or dried 7.9%
Coffee, whether or not roasted or decaffeinated;...Coffee, whether or not roasted or decaffeinated; coffee husks and skins; coffee substitutes containing coffee in any proportion 6.7%
Palm oil and its fractions, whether or not refined...Palm oil and its fractions, whether or not refined (excl. chemically modified) 5.9%
Cane or beet sugar and chemically pure sucrose, in...Cane or beet sugar and chemically pure sucrose, in solid form 4.2%
Jerseys, pullovers, cardigans, waistcoats and...Jerseys, pullovers, cardigans, waistcoats and similar articles, knitted or crocheted (excl. wadded waistcoats) 3.0%
See More Products 72.4%
30.3 bn USD of products imported in 2023
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 13.6%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.4%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 3.2%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.7%
Motor vehicles for the transport of goods, incl....Motor vehicles for the transport of goods, incl. chassis with engine and cab 2.7%
See More Products 74.5%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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