Overview In 2019 Guatemala was the number 68 economy in the world in terms of GDP (current US$), the number 85 in total exports, the number 79 in total imports, the number 110 economy in terms of GDP per capita (current US$) and the number 82 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Guatemala are Bananas ($1.16B), Raw Sugar ($707M), Coffee ($692M), Nutmeg, mace and cardamons ($653M), and Palm Oil ($399M), exporting mostly to United States ($3.92B), El Salvador ($1.38B), Honduras ($987M), Mexico ($571M), and Nicaragua ($552M).

In 2019, Guatemala was the world's biggest exporter of Nutmeg, mace and cardamons ($653M)

Imports The top imports of Guatemala are Refined Petroleum ($2.34B), Broadcasting Equipment ($579M), Packaged Medicaments ($488M), Cars ($483M), and Delivery Trucks ($332M), importing mostly from United States ($6.77B), China ($2.34B), Mexico ($2.15B), El Salvador ($965M), and Panama ($667M).

In 2019, Guatemala was the world's biggest importer of Iron Ingots ($63.1M)

Location Guatemala borders Belize, El Salvador, Honduras, and Mexico by land.

Historical Data

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Yearly Exports

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Top Export (2019): Bananas, $1.16B

Top Destination (2019): United States, $3.92B

In 2019, Guatemala exported a total of $11.8B, making it the number 85 exporter in the world. During the last five reported years the exports of Guatemala have changed by -$61.3M from $11.8B in 2014 to $11.8B in 2019.

The most recent exports are led by Bananas ($1.16B), Raw Sugar ($707M), Coffee ($692M), Nutmeg, mace and cardamons ($653M), and Palm Oil ($399M). The most common destination for the exports of Guatemala are United States ($3.92B), El Salvador ($1.38B), Honduras ($987M), Mexico ($571M), and Nicaragua ($552M).

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Yearly Imports

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Top Import (2019): Refined Petroleum, $2.34B

Top Origin (2019): United States, $6.77B

In 2019 Guatemala imported $19.1B, making it the number 79 trade destination in the world. During the last five reported years the imports of Guatemala changed by $1.6B from $17.5B in 2014 to $19.1B in 2019.

The most recent imports of Guatemala are led by Refined Petroleum ($2.34B), Broadcasting Equipment ($579M), Packaged Medicaments ($488M), Cars ($483M), and Delivery Trucks ($332M). The most common import partners for Guatemala are United States ($6.77B), China ($2.34B), Mexico ($2.15B), El Salvador ($965M), and Panama ($667M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Guatemala Exports Services (2019): $2.98B

Guatemala Imports Services (2019): $3.65B

In 2019, Guatemala exported $2.98B worth of services. The top services exported by Guatemala in 2019 were Personal travel ($989M), Computer and information services ($645M), Transportation ($479M), Other business services ($376M), and Business travel ($232M).

The top services imported by Guatemala in 2019 were Transportation ($1.58B), Personal travel ($640M), Computer and information services ($320M), Insurance services ($283M), and Royalties and license fees ($242M).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Guatemala are Beer made from malt (40%) and Ethyl alcohol and other spirits, denatured (40%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Guatemala are:
136: Most Favoured Nation duty rate treatement
181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado Común Centroamericano MCCA) Central American Integration System SICA
182: Preferential tariff for Chile
188: Preferential tariff for Chinese Taipei
189: Preferential tariff for Colombia
195: Preferential tariff for Cuba
198: Preferential tariff for Dominican Republic
205: Preferential tariff for Ecuador
207: Preferential tariff for El Salvador
218: Preferential tariff for European Union countries
233: Preferential tariff for Honduras
270: Preferential tariff for Mexico
279: Preferential tariff for Nicaragua
285: Preferential tariff for Panama
328: Preferential tariff for United States

Economic Complexity

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Most Specialized Products by RCA Index

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Guatemala has a high level of specialization in Nutmeg, mace and cardamons (837), Legumes (168), Bananas (125), Molasses (92.9), and Knit Women's Shirts (82.2). Specialization is measured using RCA, an index that takes the ratio between Guatemala observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Guatemala according to the product complexity index (PCI) are Vinyl polymers in primary forms (0.99), Textile felt (0.68), Composite paper and board, not coated or impregnated (0.66), Synth monofilament >67dtex <1mm, strip, straw<5mm wide (0.65), and Refractory cements, mortars, concretes except graphite (0.62). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Guatemala according to the relatedness index, are Wheat Flours (0.3), Cement (0.3), Spices (0.29), Non-Knit Men's Shirts (0.29), and Gold (0.29). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Guatemala is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Relatedness Space

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This network shows the products most related to the production structure of Guatemala. These are products that tend to be co-exported with the products that Guatemala exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.

Economic Complexity Ranking

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During the last 20 years Guatemala's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨66th to the 82nd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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