2023
Flag  
GDP
$104BCURRENT US$
Rnk 68 / 195
2013-2023
Flag
GDP GROWTH
97.1%CURRENT US$
Rnk 16 / 195
2023
Flag
 GDP
$363BCURRENT US$
Rnk 42 / 195
2013-2023
Flag
GDP GROWTH
-4.87%CURRENT US$
Rnk 176 / 195
2023
Flag
GDP PC 
$5,763CURRENT US$
Rnk 117 / 195
2013-2023
Flag
GDP PC GROWTH
67.3%CURRENT US$
Rnk 27 / 195
2023
Flag
GDP PC
$6,947CURRENT US$
Rnk 104 / 196
2013-2023
Flag
GDP PC GROWTH
-16.1%CURRENT US$
Rnk 173 / 195

About

Guatemala-Colombia Trade: In 2023, Guatemala exported $72.6M to Colombia. The main products that Guatemala exported to Colombia were Industrial Fatty Acids, Oils and Alcohols ($23.7M), Rubber ($11.7M), and Raw Sugar ($11.7M). Over the past 5 years the exports of Guatemala to Colombia have increased at an annualized rate of 14.3%, from $37.2M in 2018 to $72.6M in 2023.

In 2023, Guatemala did not export any services to Colombia.

Colombia-Guatemala Trade: In 2023, Colombia exported $545M to Guatemala. The main products that Colombia exported to Guatemala were Coal Briquettes ($175M), Packaged Medicaments ($28.8M), and Refrigerators ($26.5M). Over the past 5 years the exports of Colombia to Guatemala have increased at an annualized rate of 3.57%,  from $458M in 2018 to $545M in 2023.

In 2023, Colombia did not export any services to Guatemala.

Comparison: In 2023,  Guatemala ranked 73 in the Economic Complexity Index (ECI -0.21), and 86 in total exports ($15.4B). That same year, Colombia ranked 51 in the Economic Complexity Index (ECI 0.23), and 54 in total exports ($54.8B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Guatemala exported $72.6M to Colombia. The main products exported from Guatemala to Colombia were Industrial Fatty Acids, Oils and Alcohols ($23.7M), Rubber ($11.7M), and Raw Sugar ($11.7M). During the last 5 years the exports of Guatemala to Colombia have increased at an annualized rate of 14.3%, from $37.2M in 2018 to $72.6M in 2023.

In 2018, Colombia exported $545M to Guatemala. The main products exported from Colombia to Guatemala were Coal Briquettes ($175M), Packaged Medicaments ($28.8M), and Refrigerators ($26.5M). During the last 5 years the exports of Colombia to Guatemala have increased at an annualized rate of 3.57%, from $458M in 2023 to $545M in 2018.

Exports from Guatemala (Flag) to Colombia (Flag) (2023)

Exports from Colombia (Flag) to Guatemala (Flag) (2023)

Latest Data

Trade between Guatemala (Flag) and Colombia (Flag)

Guatemala Exports

Colombia Exports

Market Competitiveness

Color
Guatemala
Top Destination
United States$5.16B
Colombia
Top Destination
United States$14.8B

This map shows whether countries import more from Guatemala or Colombia. Each country is colored based on the difference in imports they receive from Guatemala and Colombia or the difference in the growth in imports.

In 2023, countries that imported more from Guatemala than Colombia included El Salvador ($1.73B), Honduras ($1.42B), and Nicaragua ($939M).

In 2023, countries that imported more from Colombia than Guatemala included United States ($14.8B), Panama ($4.66B), and India ($2.51B).

Difference in imports from Colombia (Flag) and Guatemala (Flag) (2023)

Comparative Advantage Guatemala - Colombia

Flow
Scale

This chart compares trade between Guatemala and Colombia by product, considering products traded by both, Guatemala and Colombia.

During 2023, Guatemala had a large net trade with Colombia in the exports of Chemical Products ($36M), Foodstuffs ($14.4M), and Plastics and Rubbers ($12.7M).

During 2018, Colombia had a large net trade with Guatemala in the exports of Mineral Products ($178M), Chemical Products ($108M), and Machines ($69.6M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Guatemala Colombia+$4.56MPesticides
Top Product Potential Colombia Guatemala+$6.27MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Guatemala and Colombia. This means that a dot/product with the flag of Guatemala indicates it has a comparative advantage over Colombia. Similarly, a dot/product with the flag of Colombia indicates it has a comparative advantage over Guatemala.

Product Space of Guatemala (Flag) and Colombia (Flag) (2023)

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