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2023
Flag → Flag
Exports $13.7MRnk 51 / 170
2023
Flag → Flag
Top Product $9.86MNutmeg, mace and cardamons
2023
Flag → Flag
Exports $22.2MRnk 128 / 217
2023
Flag → Flag
Top Product $4.14MElectric Generating Sets
2023
Flag
Economic Complexity (ECI) ECI -0.21Rnk 73 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.62Rnk 6 / 132
2023
Flag  
GDP$104BCURRENT US$
Rnk 68 / 195
2013-2023
Flag
GDP GROWTH97.1%CURRENT US$
Rnk 16 / 195
2023
Flag
 GDP$501BCURRENT US$
Rnk 30 / 195
2013-2023
Flag
GDP GROWTH63%CURRENT US$
Rnk 47 / 195
2023
Flag
GDP PC $5,763CURRENT US$
Rnk 117 / 195
2013-2023
Flag
GDP PC GROWTH67.3%CURRENT US$
Rnk 27 / 195
2023
Flag
GDP PC$84,734CURRENT US$
Rnk 8 / 196
2013-2023
Flag
GDP PC GROWTH48.7%CURRENT US$
Rnk 50 / 195

About

Guatemala-Singapore Trade: In 2023, Guatemala exported $13.7M to Singapore. The main products that Guatemala exported to Singapore were Nutmeg, mace and cardamons ($9.86M), Coffee ($1.69M), and Hard Liquor ($613k). Over the past 5 years the exports of Guatemala to Singapore have decreased at an annualized rate of 1.67%, from $14.9M in 2018 to $13.7M in 2023.

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

Singapore-Guatemala Trade: In 2023, Singapore exported $22.2M to Guatemala. The main products that Singapore exported to Guatemala were Electric Generating Sets ($4.14M), Packaged Medicaments ($2.3M), and Medical Instruments ($1.74M). Over the past 5 years the exports of Singapore to Guatemala have decreased at an annualized rate of 1.31%,  from $23.7M in 2018 to $22.2M in 2023.

In 2023, Singapore 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, Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Guatemala exported $13.7M to Singapore. The main products exported from Guatemala to Singapore were Nutmeg, mace and cardamons ($9.86M), Coffee ($1.69M), and Hard Liquor ($613k). During the last 5 years the exports of Guatemala to Singapore have decreased at an annualized rate of 1.67%, from $14.9M in 2018 to $13.7M in 2023.

In 2018, Singapore exported $22.2M to Guatemala. The main products exported from Singapore to Guatemala were Electric Generating Sets ($4.14M), Packaged Medicaments ($2.3M), and Medical Instruments ($1.74M). During the last 5 years the exports of Singapore to Guatemala have decreased at an annualized rate of 1.31%, from $23.7M in 2023 to $22.2M in 2018.

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

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

Latest Data

Trade between Guatemala (Flag) and Singapore (Flag)

Guatemala Exports

Singapore Exports

Market Competitiveness

Color
Guatemala
Top DestinationUnited States$5.16B
Singapore
Top DestinationHong Kong$44.5B

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

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

In 2023, countries that imported more from Singapore than Guatemala included Hong Kong ($44.5B), China ($36.7B), and Malaysia ($31.4B).

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

Comparative Advantage Guatemala - Singapore

Flow
Scale

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

During 2023, Guatemala had a large net trade with Singapore in the exports of Vegetable Products ($11.7M), Textiles ($859k), and Foodstuffs ($613k).

During 2018, Singapore had a large net trade with Guatemala in the exports of Machines ($8.41M), Instruments ($3.33M), and Chemical Products ($2.59M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Guatemala Singapore+$981kHard Liquor
Top Product Potential Singapore Guatemala+$39.5MRefined 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 Singapore. This means that a dot/product with the flag of Guatemala indicates it has a comparative advantage over Singapore. Similarly, a dot/product with the flag of Singapore indicates it has a comparative advantage over Guatemala.

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

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