Guatemala (GTM) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Guatemala-Italy Trade: In 2023, Guatemala exported $140M to Italy. The main products that Guatemala exported to Italy were Coffee ($41.7M), Palm Oil ($37.8M), and Raw Sugar ($20M). Over the past 5 years the exports of Guatemala to Italy have decreased at an annualized rate of 3.55%, from $168M in 2018 to $140M in 2023.

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

Italy-Guatemala Trade: In 2023, Italy exported $323M to Guatemala. The main products that Italy exported to Guatemala were Packaged Medicaments ($38.2M), Washing and Bottling Machines ($20.6M), and Jewellery ($13.6M). Over the past 5 years the exports of Italy to Guatemala have increased at an annualized rate of 15%, from $160M in 2018 to $323M in 2023.

In 2023, Italy 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, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Guatemala exported $140M to Italy. The main products exported from Guatemala to Italy were Coffee ($41.7M), Palm Oil ($37.8M), and Raw Sugar ($20M). During the last 5 years the exports of Guatemala to Italy have decreased at an annualized rate of 3.55%, from $168M in 2018 to $140M in 2023.

In 2018, Italy exported $323M to Guatemala. The main products exported from Italy to Guatemala were Packaged Medicaments ($38.2M), Washing and Bottling Machines ($20.6M), and Jewellery ($13.6M). During the last 5 years the exports of Italy to Guatemala have increased at an annualized rate of 15%, from $160M in 2023 to $323M in 2018.

Exports from Guatemala () to Italy () (2023)

Exports from Italy () to Guatemala () (2023)

Latest Data

Trade between Guatemala () and Italy ()

Guatemala Exports

Date

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Guatemala
Top DestinationUnited States$5.16B

Italy
Top DestinationGermany$71.4B

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

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

In 2023, countries that imported more from Italy than Guatemala included Germany ($71.4B), United States ($70.9B), and France ($61.1B).

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

Comparative Advantage Guatemala - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Guatemala had a large net trade with Italy in the exports of Vegetable Products ($57.4M), Animal and Vegetable Bi-Products ($41.4M), and Foodstuffs ($29.9M).

During 2018, Italy had a large net trade with Guatemala in the exports of Machines ($150M), Chemical Products ($62.6M), and Plastics and Rubbers ($13.9M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Guatemala Italy+$24MCoffee

Top Product Potential Italy Guatemala+$11.4MPackaged Medicaments

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 Italy. This means that a dot/product with the flag of Guatemala indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Guatemala.

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Historical Data

Bilateral Trade by Products

Exports from Guatemala () to Italy () (2023)

Exports from Italy () to Guatemala () (2023)

Latest Data

Trade between Guatemala () and Italy ()

Guatemala Exports

Italy Exports

Market Competitiveness

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

Comparative Advantage Guatemala - Italy

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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