Flag Guatemala

Econ Complexity (2018): -0.51, Rank 89 of 137

Product Exports (2018): $9.79B, Rank 89 of 222

Exports Per Capita (2018): $568, Rank 203 of 219

Product Imports (2018): $14.8B, Rank 86 of 221

Imports Per Capita (2018): $855, Rank 206 of 219

Service Exports (2015): $1.54B, Rank 100 of 170

Service Imports (2015): $2.52B, Rank 91 of 170

GDP (2018): $78.5B, CURRENT US$
Rank 69 of 196

GDP growth (2008 - 2018): 100%, CURRENT US$
Rank 30 of 196

GDP PC (2018): $4,549, CURRENT US$
Rank 113 of 196

GDP PC GROWTH (2008 - 2018): 62.8%, CURRENT US$
Rank 35 of 196

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.

Trade: The top exports of Guatemala are Bananas ($1.35B), Coffee ($775M), Knit Sweaters ($676M), Raw Sugar ($448M), and Knit T-shirts ($401M). The top imports of Guatemala are Refined Petroleum ($1.99B), Cars ($386M), Petroleum Gas ($257M), Broadcasting Equipment ($237M), and Packaged Medicaments ($236M).

Destinations: Guatemala exports mostly to United States ($4.36B), El Salvador ($1.16B), Mexico ($506M), Nicaragua ($450M), and Canada ($434M), and imports mostly from United States ($5.27B), China ($2.34B), Mexico ($1.87B), El Salvador ($848M), and Costa Rica ($571M).

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

Product Exports

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Top Export (2018): Bananas, $1.35B

Top Destination (2018): United States, $4.36B

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.

The most recent exports are led by Bananas ($1.35B), Coffee ($775M), Knit Sweaters ($676M), Raw Sugar ($448M), and Knit T-shirts ($401M). The most common destination for the exports of Guatemala are United States ($4.36B), El Salvador ($1.16B), Mexico ($506M), Nicaragua ($450M), and Canada ($434M).

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Product Imports

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Top Import (2018): Refined Petroleum, $1.99B

Top Origin (2018): United States, $5.27B

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.

The most recent imports of Guatemala are led by Refined Petroleum ($1.99B), Cars ($386M), Petroleum Gas ($257M), Broadcasting Equipment ($237M), and Packaged Medicaments ($236M). The most common import partners for Guatemala are United States ($5.27B), China ($2.34B), Mexico ($1.87B), El Salvador ($848M), and Costa Rica ($571M).

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Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Guatemala Exports Services (2015): $1.54B

Guatemala Imports Services (2015): $2.52B

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).

Trade Forecasts

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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.

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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.

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*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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Economic Complexity Ranking

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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.

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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 (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.

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 (0.89), Refrigerators, freezers and heat pumps nes (0.7), Carboxyamid-function compounds (0.67), Primary cells and primary batteries (0.56), and Paper and paper articles nes (0.54). 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 (0.28), 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.

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.