Guatemala (GTM) and Mexico (MEX) Trade | The Observatory of Economic Complexity

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Guatemala-Mexico Trade: In 2023, Guatemala exported $663M to Mexico. The main products that Guatemala exported to Mexico were Palm Oil ($106M), Rubber ($66.6M), and Raw Sugar ($41M). Over the past 5 years the exports of Guatemala to Mexico have increased at an annualized rate of 4.6%, from $529M in 2018 to $663M in 2023.

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

Mexico-Guatemala Trade: In 2023, Mexico exported $3.2B to Guatemala. The main products that Mexico exported to Guatemala were Electricity ($128M), Video Displays ($127M), and Insulated Wire ($102M). Over the past 5 years the exports of Mexico to Guatemala have increased at an annualized rate of 8.12%, from $2.16B in 2018 to $3.2B in 2023.

In 2023, Mexico 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, Mexico ranked 25 in the Economic Complexity Index (ECI 1.09), and 8 in total exports ($603B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Guatemala exported $663M to Mexico. The main products exported from Guatemala to Mexico were Palm Oil ($106M), Rubber ($66.6M), and Raw Sugar ($41M). During the last 5 years the exports of Guatemala to Mexico have increased at an annualized rate of 4.6%, from $529M in 2018 to $663M in 2023.

In 2018, Mexico exported $3.2B to Guatemala. The main products exported from Mexico to Guatemala were Electricity ($128M), Video Displays ($127M), and Insulated Wire ($102M). During the last 5 years the exports of Mexico to Guatemala have increased at an annualized rate of 8.12%, from $2.16B in 2023 to $3.2B in 2018.

Exports from Guatemala () to Mexico () (2023)

Exports from Mexico () to Guatemala () (2023)

Latest Data

Trade between Guatemala () and Mexico ()

Guatemala Exports

Date

Mexico Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Guatemala
Top DestinationUnited States$5.16B

Mexico
Top DestinationUnited States$456B

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

In 2023, countries that imported more from Guatemala than Mexico included El Salvador ($1.73B), Honduras ($1.42B), and Haiti ($38.9M).

In 2023, countries that imported more from Mexico than Guatemala included United States ($456B), Canada ($33B), and China ($15B).

Difference in imports from Mexico () and Guatemala () (2023)

Comparative Advantage Guatemala - Mexico

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Guatemala had a large net trade with Mexico in the exports of Foodstuffs ($140M), Animal and Vegetable Bi-Products ($138M), and Plastics and Rubbers ($106M).

During 2018, Mexico had a large net trade with Guatemala in the exports of Chemical Products ($578M), Machines ($557M), and Foodstuffs ($514M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Guatemala Mexico+$29.9MPalm Oil

Top Product Potential Mexico Guatemala+$66.9MCars

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Guatemala () to Mexico () (2023)

Exports from Mexico () to Guatemala () (2023)

Latest Data

Trade between Guatemala () and Mexico ()

Guatemala Exports

Mexico Exports

Market Competitiveness

Difference in imports from Mexico () and Guatemala () (2023)

Comparative Advantage Guatemala - Mexico

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Guatemala () and Mexico () (2023)

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