2022
Exports
$347MWorld Rnk 57 / 223
Flag Rnk 13 / 96
2022
PRODUCT COMPLEXITY IN Pharmaceutical products
1.38Rnk 75 / 1025
2022
Imports
$902MWorld Rnk 69 / 226
Flag Rnk 8 / 96
2022
ECONOMIC COMPLEXITY of Guatemala
-0.2Rnk 76 / 133

About

Exports In 2022, Guatemala exported $347M in Pharmaceutical products, making it the 57th largest exporter of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 13th most exported product in Guatemala. The main destination of Pharmaceutical products exports from Guatemala are: Honduras ($87.9M), Nicaragua ($73M), El Salvador ($63.1M), Panama ($38M), and Costa Rica ($37.9M).

The fastest growing export markets for Pharmaceutical products of Guatemala between 2021 and 2022 were Nicaragua ($8.01M), Honduras ($7.93M), and Costa Rica ($5.4M).

Imports In 2022, Guatemala imported $902M in Pharmaceutical products, becoming the 69th largest importer of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 8th most imported product in Guatemala. Guatemala imports Pharmaceutical products primarily from: India ($117M), Belgium ($102M), Germany ($81.4M), United States ($77.2M), and Mexico ($69.5M).

The fastest growing import markets in Pharmaceutical products for Guatemala between 2021 and 2022 were Belgium ($67.9M), Germany ($56.8M), and India ($39.4M).

Latest Trends

Jul 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 Pharmaceutical products. 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 (2022)$347M
IMPORTS (2022)$902M
NET TRADE (2022)-$555M

In 2022, Guatemala exported $347M in Pharmaceutical products. The main destinations of Guatemala exports on Pharmaceutical products were Honduras ($87.9M), Nicaragua ($73M), El Salvador ($63.1M), Panama ($38M), and Costa Rica ($37.9M).

In 2022, Guatemala imported $902M in Pharmaceutical products, mainly from India ($117M), Belgium ($102M), Germany ($81.4M), United States ($77.2M), and Mexico ($69.5M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Pharmaceutical products EXPORT MARKETS FOR Guatemala WERE (2021 - 2022):
Nicaragua$8.01M (12.3%)
Honduras$7.93M (9.92%)
Costa Rica$5.4M (16.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pharmaceutical products BY Guatemala WERE (2021 - 2022):
Panama-$4.34M (-10.2%)
Colombia-$4.32M (-73.6%)
Venezuela-$3.56M (-58.5%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Guatemala's main exporting competitors in Pharmaceutical products were:
In 2022, Guatemala's main importing competitors in Pharmaceutical products were:

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Trade Value of Pharmaceutical products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $28.3M
TOP IMPORT POTENTIALGermany+ $49.9M

Pharmaceutical products’s highest export potential is United States. With an export gap of $28.3M.   Pharmaceutical products’s highest import potential is Germany with an import gap of $49.9M.

See methodology.

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