2023
Exports
$824MWorld Rnk 6 / 150
Flag Rnk 3 / 1091
2023
PRODUCT COMPLEXITY IN Palm Oil
-2.25Rnk 1010 / 1025
2023
Imports
$49.2MWorld Rnk 81 / 206
Flag Rnk 129 / 1187
2023
ECONOMIC COMPLEXITY of Guatemala
-0.21Rnk 73 / 132

About

Exports In 2023, Guatemala exported $824M in Palm Oil, making it the 6th largest exporter of Palm Oil in the world. At the same year, Palm Oil was the 3rd most exported product in Guatemala. The main destination of Palm Oil exports from Guatemala are: Netherlands ($333M), Spain ($166M), Mexico ($106M), Germany ($65.5M), and El Salvador ($56.4M).

The fastest growing export markets for Palm Oil of Guatemala between 2022 and 2023 were Germany ($43.2M), Belgium ($6.73M), and Costa Rica ($1.98M).

Imports In 2023, Guatemala imported $49.2M in Palm Oil, becoming the 81st largest importer of Palm Oil in the world. At the same year, Palm Oil was the 129th most imported product in Guatemala. Guatemala imports Palm Oil primarily from: Honduras ($18M), Peru ($11.3M), Indonesia ($9.57M), Mexico ($7.32M), and Costa Rica ($2.56M).

The fastest growing import markets in Palm Oil for Guatemala between 2022 and 2023 were Indonesia ($6.35M), Costa Rica ($806k), and Colombia ($262k).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Palm Oil. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$824M
IMPORTS (2023)$49.2M
NET TRADE (2023)$775M

In 2023, Guatemala exported $824M in Palm Oil. The main destinations of Guatemala exports on Palm Oil were Netherlands ($333M), Spain ($166M), Mexico ($106M), Germany ($65.5M), and El Salvador ($56.4M).

In 2023, Guatemala imported $49.2M in Palm Oil, mainly from Honduras ($18M), Peru ($11.3M), Indonesia ($9.57M), Mexico ($7.32M), and Costa Rica ($2.56M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Palm Oil EXPORT MARKETS FOR Guatemala WERE (2022 - 2023):
Germany$43.2M (195%)
Belgium$6.73M (286%)
Costa Rica$1.98M (67.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Palm Oil BY Guatemala WERE (2022 - 2023):
Italy-$59.3M (-61.1%)
Spain-$55.5M (-25.1%)
Mexico-$27.1M (-20.3%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Guatemala's main exporting competitors in Palm Oil were:
In 2023, Guatemala's main importing competitors in Palm Oil were:
India $8.7B
China $4.85B

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Trade Value of Palm Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALMexico+ $29.9M
TOP IMPORT POTENTIALIndonesia+ $4.28M

Palm Oil’s highest export potential is Mexico. With an export gap of $29.9M.   Palm Oil’s highest import potential is Indonesia with an import gap of $4.28M.

See methodology.

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