Overview In 2020 Guatemala was the number 69 economy in the world in terms of GDP (current US$), the number 81 in total exports, the number 78 in total imports, the number 107 economy in terms of GDP per capita (current US$) and the number 78 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Guatemala are Bananas, including plantains; fresh or dried ($1.16B), Nutmeg, mace and cardamoms ($1.14B), Coffee, whether or not roasted or decaffeinated; husks and skins; coffee substitutes... ($684M), Cane or beet sugar and chemically pure sucrose, in solid form ($598M), and Palm oil and its fractions; whether or not refined, but not chemically... ($466M), exporting mostly to United States ($3.87B), El Salvador ($1.32B), Honduras ($1.02B), Nicaragua ($660M), and Mexico ($466M).

In 2020, Guatemala was the world's biggest exporter of Nutmeg, mace and cardamoms ($1.14B)

Imports The top imports of Guatemala are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing... ($1.57B), Transmission apparatus for radio-broadcasting or television, whether or not incorporating reception apparatus... ($647M), Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of... ($538M), Motor cars and other motor vehicles; principally designed for the transport of... ($383M), and Vehicles; for the transport of goods ($341M), importing mostly from United States ($6.01B), China ($2.43B), Mexico ($2.08B), El Salvador ($876M), and Costa Rica ($633M).

In 2020, Guatemala was the world's biggest importer of Iron and non-alloy steel in ingots or other primary forms (excluding iron of heading no. 7203) ($54.4M)

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

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The following section uses the most recent trade data from partners of Guatemala.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Historical Data

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

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).

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 cardamoms (814), Leguminous vegetables; shelled or unshelled, fresh or chilled (150), Bananas, including plantains; fresh or dried (114), Molasses; resulting from the extraction or refining of sugar (88.7), and Blouses, shirts and shirt-blouses; women's or girls', knitted or crocheted (82.4). Specialization is measured using RCA, an index that takes the ratio between Guatemala observed and expected exports in each product.

Export Opportunities by Relatedness

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The top export opportunities for Guatemala according to the relatedness index, are Shirts; men's or boys' (not knitted or crocheted) (0.32), Cocoa beans; whole or broken, raw or roasted (0.31), Ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spices (0.31), Singlets and other vests, underpants, briefs, night-shirts, pyjamas, bathrobes, dressing gowns and similar articles; men's or boys' (not knitted or crocheted) (0.3), and Blouses, shirts and shirt-blouses; women's or girls' (not knitted or crocheted) (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.

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 vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Economic Complexity Ranking

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During the last 20 years Guatemala's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨60th to the 78th⁩ 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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