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Guatemala Economy 2017
http://www.theodora.com/wfbcurrent/guatemala/guatemala_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Guatemala Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Guatemala is the most populous country in Central America with a GDP per capita roughly half the average for Latin America and the Caribbean. The agricultural sector accounts for 13.6% of GDP and 31% of the labor force; key agricultural exports include sugar, coffee, bananas, and vegetables. Guatemala is the top remittance recipient in Central America as a result of Guatemala's large expatriate community in the US. These inflows are a primary source of foreign income, equivalent to over one-half of the country's exports or one-tenth of its GDP.The 1996 peace accords, which ended 36 years of civil war, removed a major obstacle to foreign investment, and since then Guatemala has pursued important reforms and macroeconomic stabilization. The Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) entered into force in July 2006, spurring increased investment and diversification of exports, with the largest increases in ethanol and non-traditional agricultural exports. While CAFTA-DR has helped improve the investment climate, concerns over security, the lack of skilled workers, and poor infrastructure continue to hamper foreign direct investment.The distribution of income remains highly unequal with the richest 20% of the population accounting for more than 51% of Guatemala's overall consumption. More than half of the population is below the national poverty line, and 23% of the population lives in extreme poverty. Poverty among indigenous groups, which make up more than 40% of the population, averages 79%, with 39.8% of the indigenous population living in extreme poverty. Nearly one-half of Guatemala's children under age five are chronically malnourished, one of the highest malnutrition rates in the world.Guatemala is facing growing fiscal pressures exacerbated by multiple corruption scandals in 2015 that led to the resignation of the president, vice president, and numerous high-level economic officials.

GDP (purchasing power parity):
$132.3 billion (2016 est.) $127.9 billion (2015 est.) $122.8 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 78
[see also: GDP country ranks ]

GDP (official exchange rate):
$68.39 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.5% (2016 est.) 4.1% (2015 est.) 4.2% (2014 est.)
country comparison to the world: 76
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$7,900 (2016 est.) $7,900 (2015 est.) $7,700 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 151
[see also: GDP - per capita country ranks ]

Gross national saving:
12.9% of GDP (2016 est.) 13.1% of GDP (2015 est.) 11.6% of GDP (2014 est.)
country comparison to the world: 136
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 84.4%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 10.4%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 13.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.5%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 21.4%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -30% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 13.2%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 23.5%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 63.3% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
sugarcane, corn, bananas, coffee, beans, cardamom; cattle, sheep, pigs, chickens

Industries:
sugar, textiles and clothing, furniture, chemicals, petroleum, metals, rubber, tourism

Industrial production growth rate:
3.2% (2016 est.)
country comparison to the world: 77
[see also: Industrial production growth rate country ranks ]

Labor force:
4.623 million (2016 est.)
country comparison to the world: 87
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 31.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 14.4%
[see also: Labor force - by occupation - industry country ranks ]
services: 54.4% (2014 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
2.9% (2014 est.) 3% (2013 est.)
country comparison to the world: 21
[see also: Unemployment rate country ranks ]

Population below poverty line:
59.3% (2014 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.3%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 42.4% (2006)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
53 (2014 est.) 56 (2011)
country comparison to the world: 13
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $7.39 billion
[see also: Budget revenues country ranks ]
expenditures: $8.186 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
10.8% of GDP (2016 est.)
country comparison to the world: 209
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.2% of GDP (2016 est.)
country comparison to the world: 56
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
27.4% of GDP (2016 est.) 28.8% of GDP (2015 est.)
country comparison to the world: 149
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
4.3% (2016 est.) 2.4% (2015 est.)
country comparison to the world: 168
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.5% (31 December 2010)
country comparison to the world: 58
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
13.2% (31 December 2016 est.) 13.23% (31 December 2015 est.)
country comparison to the world: 56
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$10.95 billion (31 December 2016 est.) $10.05 billion (31 December 2015 est.)
country comparison to the world: 79
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$25.3 billion (31 December 2016 est.) $23.25 billion (31 December 2015 est.)
country comparison to the world: 83
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$32.41 billion (31 December 2016 est.) $28.7 billion (31 December 2015 est.)
country comparison to the world: 76
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$323 million (2016 est.) -$202 million (2015 est.)
country comparison to the world: 94
[see also: Current account balance country ranks ]

Exports:
$11.43 billion (2016 est.) $10.83 billion (2015 est.)
country comparison to the world: 82
[see also: Exports country ranks ]

Exports - commodities:
sugar, coffee, petroleum, apparel, bananas, fruits and vegetables, cardamom, manufacturing products, precious stones and metals, electricity

Exports - partners:
US 34.9%, El Salvador 8.4%, Honduras 7.3%, Nicaragua 5%, Canada 4.6%, Mexico 4.3%, Costa Rica 4.1% (2015)

Imports:
$16.76 billion (2016 est.) $16.38 billion (2015 est.)
country comparison to the world: 80
[see also: Imports country ranks ]

Imports - commodities:
fuels, machinery and transport equipment, construction materials, grain, fertilizers, electricity, mineral products, chemical products, plastic materials and products

Imports - partners:
US 38.3%, China 13.4%, Mexico 11.8%, El Salvador 4.9% (2015)

Reserves of foreign exchange and gold:
$8.803 billion (31 December 2016 est.) $7.746 billion (31 December 2015 est.)
country comparison to the world: 77
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$19.09 billion (31 December 2016 est.) $18.6 billion (31 December 2015 est.)
country comparison to the world: 92
[see also: Debt - external country ranks ]

Exchange rates:
quetzales (GTQ) per US dollar - 7.648 (2016 est.) 7.6548 (2015 est.) 7.6548 (2014 est.) 7.7322 (2013 est.) 7.83 (2012 est.)


NOTE: The information regarding Guatemala on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guatemala Economy 2017 information contained here. All suggestions for corrections of any errors about Guatemala Economy 2017 should be addressed to the CIA.




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