2022
Exports
$89.5MWorld Rnk 109 / 214
Flag Rnk 39 / 1099
2022
PRODUCT COMPLEXITY IN Refined Petroleum
-0.87Rnk 795 / 1025
2022
Imports
$4.4BWorld Rnk 60 / 225
Flag Rnk 1 / 1184
2022
ECONOMIC COMPLEXITY of Guatemala
-0.2Rnk 76 / 133

About

Exports In 2022, Guatemala exported $89.5M in Refined Petroleum, making it the 109th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 39th most exported product in Guatemala. The main destination of Refined Petroleum exports from Guatemala are: Belize ($46M), El Salvador ($17.2M), Nicaragua ($10.6M), Honduras ($10.3M), and Costa Rica ($2.18M).

The fastest growing export markets for Refined Petroleum of Guatemala between 2021 and 2022 were Belize ($13.3M), El Salvador ($9.57M), and Nicaragua ($9.47M).

Imports In 2022, Guatemala imported $4.4B in Refined Petroleum, becoming the 60th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 1st most imported product in Guatemala. Guatemala imports Refined Petroleum primarily from: United States ($3.92B), Estonia ($97.1M), Panama ($51.8M), Chinese Taipei ($45M), and Bahamas ($42.1M).

The fastest growing import markets in Refined Petroleum for Guatemala between 2021 and 2022 were United States ($1.32B), Estonia ($93.1M), and Panama ($34.2M).

COMPANIES In 2023, leading companies such as Dole Fresh Fruit (139) were at the forefront of shipping Refined Petroleum from Guatemala to the United States.

Latest Trends

Aug 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Refined Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$89.5M
IMPORTS (2022)$4.4B
NET TRADE (2022)-$4.31B

In 2022, Guatemala exported $89.5M in Refined Petroleum. The main destinations of Guatemala exports on Refined Petroleum were Belize ($46M), El Salvador ($17.2M), Nicaragua ($10.6M), Honduras ($10.3M), and Costa Rica ($2.18M).

In 2022, Guatemala imported $4.4B in Refined Petroleum, mainly from United States ($3.92B), Estonia ($97.1M), Panama ($51.8M), Chinese Taipei ($45M), and Bahamas ($42.1M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Guatemala WERE (2021 - 2022):
Belize$13.3M (40.8%)
El Salvador$9.57M (125%)
Nicaragua$9.47M (818%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Guatemala WERE (2021 - 2022):
Panama-$23.2M (-98.5%)
Cayman Islands-$2.19M (-100%)
Dominican Republic-$223k (-55.3%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Guatemala's main exporting competitors in Refined Petroleum were:
In 2022, Guatemala's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALEl Salvador+ $4.36M
TOP IMPORT POTENTIALSouth Korea+ $42.5M

Refined Petroleum’s highest export potential is El Salvador. With an export gap of $4.36M.   Refined Petroleum’s highest import potential is South Korea with an import gap of $42.5M.

See methodology.

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