Overview: In 2018 Guatemala was the number 69 economy in the world in terms of GDP (current US$), the number 89 in total exports, the number 86 in total imports, and the number 89 most complex economy according to the Economic Complexity Index (ECI). In 2018, Guatemala exported $9.79B and imported $14.8B, resulting in a negative trade balance of -$4.96B. In 2018, Guatemala's exports per capita were $568 and its imports per capita were $855.
In 2018 Guatemala exported a total of $9.79B, making it the number 89 exporter in the world. During the last five reported years the exports of Guatemala have changed by -$1.43B from $11.2B in 2013 to $9.79B in 2018.
In 2018 Guatemala imported $14.8B, making it the number 86 trade destination in the world. During the last five reported years the imports of Guatemala changed by -$2.59B from $17.3B in 2013 to $14.8B in 2018.
In 2015, Guatemala exported $1.54B worth of services. The top services exported by Guatemala in 2015 were Communications services ($510M), Business travel ($300M), Sea transport ($279M), Government services, n.i.e. ($120M), and Miscellaneous business, professional, and technical services ($119M).
The top services imported by Guatemala in 2015 were Sea transport ($780M), Air transport ($362M), Royalties and license fees ($243M), Other transport ($234M), and Business travel ($217M).
This section shows forecasts for total product exports and imports for Guatemala. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*The tariffs applied to imports for Guatemala are:136: Most Favoured Nation duty rate treatement181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado Común Centroamericano MCCA) Central American Integration System SICA182: Preferential tariff for Chile188: Preferential tariff for Chinese Taipei189: Preferential tariff for Colombia195: Preferential tariff for Cuba198: Preferential tariff for Dominican Republic205: Preferential tariff for Ecuador207: Preferential tariff for El Salvador218: Preferential tariff for European Union countries233: Preferential tariff for Honduras270: Preferential tariff for Mexico279: Preferential tariff for Nicaragua285: Preferential tariff for Panama328: Preferential tariff for United States
During the last 20 years Guatemala's economy has become relatively less complex, moving from the 70th to the 89th 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.
Guatemala has a high level of specialization in Nutmeg, mace and cardamons (770), Legumes (228), Bananas (181), Melons (145), and Molasses (92.7). Specialization is measured using RCA, an index that takes the ratio between Guatemala observed and expected exports in each product.
The top export opportunities for Guatemala according to the relatedness index, are Wheat Flours (0.28), Spices (0.27), Non-Knit Men's Shirts (0.27), Cement (0.26), and Non-fillet Fresh Fish (0.26). 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.
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.
Guatemala
