Guatemala (GTM) and Spain (ESP) Trade | The Observatory of Economic Complexity

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Guatemala-Spain Trade: In 2023, Guatemala exported $325M to Spain. The main products that Guatemala exported to Spain were Palm Oil ($166M), Raw Sugar ($37.1M), and Processed Fish ($35.2M). Over the past 5 years the exports of Guatemala to Spain have increased at an annualized rate of 11.6%, from $188M in 2018 to $325M in 2023.

In 2023, Guatemala did not export any services to Spain.

Spain-Guatemala Trade: In 2023, Spain exported $375M to Guatemala. The main products that Spain exported to Guatemala were Packaged Medicaments ($69.3M), Other Edible Preparations ($20.6M), and Prepared Pigments ($20.5M). Over the past 5 years the exports of Spain to Guatemala have increased at an annualized rate of 2.64%, from $321M in 2018 to $375M in 2023.

In 2023, Spain did not export any services to Guatemala.

Comparison: In 2023, Guatemala ranked 73 in the Economic Complexity Index (ECI -0.21), and 86 in total exports ($15.4B). That same year, Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Guatemala exported $325M to Spain. The main products exported from Guatemala to Spain were Palm Oil ($166M), Raw Sugar ($37.1M), and Processed Fish ($35.2M). During the last 5 years the exports of Guatemala to Spain have increased at an annualized rate of 11.6%, from $188M in 2018 to $325M in 2023.

In 2018, Spain exported $375M to Guatemala. The main products exported from Spain to Guatemala were Packaged Medicaments ($69.3M), Other Edible Preparations ($20.6M), and Prepared Pigments ($20.5M). During the last 5 years the exports of Spain to Guatemala have increased at an annualized rate of 2.64%, from $321M in 2023 to $375M in 2018.

Exports from Guatemala () to Spain () (2023)

Exports from Spain () to Guatemala () (2023)

Latest Data

Trade between Guatemala () and Spain ()

Guatemala Exports

Date

Spain Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Guatemala
Top DestinationUnited States$5.16B

Spain
Top DestinationFrance$61.9B

This map shows whether countries import more from Guatemala or Spain. Each country is colored based on the difference in imports they receive from Guatemala and Spain or the difference in the growth in imports.

In 2023, countries that imported more from Guatemala than Spain included El Salvador ($1.73B), Honduras ($1.42B), and Nicaragua ($939M).

In 2023, countries that imported more from Spain than Guatemala included France ($61.9B), Germany ($40.2B), and Portugal ($38.1B).

Difference in imports from Spain () and Guatemala () (2023)

Comparative Advantage Guatemala - Spain

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Guatemala and Spain by product, considering products traded by both, Guatemala and Spain.

During 2023, Guatemala had a large net trade with Spain in the exports of Animal and Vegetable Bi-Products ($181M), Foodstuffs ($87.3M), and Animal Products ($31.3M).

During 2018, Spain had a large net trade with Guatemala in the exports of Chemical Products ($148M), Machines ($65.1M), and Foodstuffs ($42.8M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Guatemala Spain+$8.4MCoffee

Top Product Potential Spain Guatemala+$13.5MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Guatemala and Spain. This means that a dot/product with the flag of Guatemala indicates it has a comparative advantage over Spain. Similarly, a dot/product with the flag of Spain indicates it has a comparative advantage over Guatemala.

About

Historical Data

Bilateral Trade by Products

Exports from Guatemala () to Spain () (2023)

Exports from Spain () to Guatemala () (2023)

Latest Data

Trade between Guatemala () and Spain ()

Guatemala Exports

Spain Exports

Market Competitiveness

Difference in imports from Spain () and Guatemala () (2023)

Comparative Advantage Guatemala - Spain

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Guatemala () and Spain () (2023)

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