Guatemala (GTM) and Uruguay (URY) Trade | The Observatory of Economic Complexity

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Guatemala-Uruguay Trade: In 2023, Guatemala exported $1.9M to Uruguay. The main products that Guatemala exported to Uruguay were Industrial Fatty Acids, Oils and Alcohols ($547k), Other Inorganic Acids ($526k), and Pesticides ($213k). Over the past 5 years the exports of Guatemala to Uruguay have increased at an annualized rate of 24.1%, from $646k in 2018 to $1.9M in 2023.

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

Uruguay-Guatemala Trade: In 2023, Uruguay exported $157M to Guatemala. The main products that Uruguay exported to Guatemala were Scented Mixtures ($123M), Packaged Medicaments ($9.49M), and Sawn Wood ($4.86M). Over the past 5 years the exports of Uruguay to Guatemala have increased at an annualized rate of 8.27%, from $105M in 2018 to $157M in 2023.

In 2023, Uruguay 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, Uruguay ranked 52 in the Economic Complexity Index (ECI 0.22), and 100 in total exports ($11B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Guatemala exported $1.9M to Uruguay. The main products exported from Guatemala to Uruguay were Industrial Fatty Acids, Oils and Alcohols ($547k), Other Inorganic Acids ($526k), and Pesticides ($213k). During the last 5 years the exports of Guatemala to Uruguay have increased at an annualized rate of 24.1%, from $646k in 2018 to $1.9M in 2023.

In 2018, Uruguay exported $157M to Guatemala. The main products exported from Uruguay to Guatemala were Scented Mixtures ($123M), Packaged Medicaments ($9.49M), and Sawn Wood ($4.86M). During the last 5 years the exports of Uruguay to Guatemala have increased at an annualized rate of 8.27%, from $105M in 2023 to $157M in 2018.

Exports from Guatemala () to Uruguay () (2023)

Exports from Uruguay () to Guatemala () (2023)

Latest Data

Trade between Guatemala () and Uruguay ()

Guatemala Exports

Date

Uruguay Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Guatemala
Top DestinationUnited States$5.16B

Uruguay
Top DestinationChina$2.34B

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

In 2023, countries that imported more from Guatemala than Uruguay included United States ($5.16B), El Salvador ($1.73B), and Honduras ($1.42B).

In 2023, countries that imported more from Uruguay than Guatemala included China ($2.34B), Brazil ($1.92B), and Argentina ($569M).

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

Comparative Advantage Guatemala - Uruguay

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Guatemala had a large net trade with Uruguay in the exports of Chemical Products ($1.42M), Vegetable Products ($207k), and Textiles ($129k).

During 2018, Uruguay had a large net trade with Guatemala in the exports of Chemical Products ($144M), Wood Products ($4.86M), and Paper Goods ($3.39M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Guatemala Uruguay+$483kPesticides

Top Product Potential Uruguay Guatemala+$825kPackaged Medicaments

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 Uruguay. This means that a dot/product with the flag of Guatemala indicates it has a comparative advantage over Uruguay. Similarly, a dot/product with the flag of Uruguay indicates it has a comparative advantage over Guatemala.

About

Historical Data

Bilateral Trade by Products

Exports from Guatemala () to Uruguay () (2023)

Exports from Uruguay () to Guatemala () (2023)

Latest Data

Trade between Guatemala () and Uruguay ()

Guatemala Exports

Uruguay Exports

Market Competitiveness

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

Comparative Advantage Guatemala - Uruguay

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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