| GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Guatemala Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Guatemala Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

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 13.5% 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 two-thirds of the country's exports and about a tenth of its GDP.

The 1996 peace accords, which ended 36 years of civil war, removed a major obstacle to foreign investment, and Guatemala has since 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 40% 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.

GDP (purchasing power parity):
$138.1 billion (2017 est.)
$134.4 billion (2016 est.)
$130.4 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 77
[see also: GDP country ranks ]

GDP (official exchange rate):
$75.62 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.8% (2017 est.)
3.1% (2016 est.)
4.1% (2015 est.)
country comparison to the world: 123
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$8,200 (2017 est.)
$8,100 (2016 est.)
$8,000 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 150
[see also: GDP - per capita country ranks ]

Gross national saving:
13.6% of GDP (2017 est.)
14.4% of GDP (2016 est.)
13.5% of GDP (2015 est.)
country comparison to the world: 141
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 86.3% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 9.7% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 12.3% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.2% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 18.8% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -26.9% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 13.3% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 23.4% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 63.2% (2017 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:
1.8% (2017 est.)
country comparison to the world: 136
[see also: Industrial production growth rate country ranks ]

Labor force:
6.664 million (2017 est.)
country comparison to the world: 69
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 31.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 12.8%
[see also: Labor force - by occupation - industry country ranks ]
services: 55.8% (2017 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
2.3% (2017 est.)
2.4% (2016 est.)
country comparison to the world: 23
[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%: 1.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 38.4% (2014)
[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: 10
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 8.164 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 9.156 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
10.8% (of GDP) (2017 est.)
country comparison to the world: 212
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.3% (of GDP) (2017 est.)
country comparison to the world: 85
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
24.7% of GDP (2017 est.)
24.5% of GDP (2016 est.)
country comparison to the world: 175
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
4.4% (2017 est.)
4.4% (2016 est.)
country comparison to the world: 165
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
7.53% (31 December 2015 est.)
6.5% (31 December 2010)
country comparison to the world: 41
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
13.05% (31 December 2017 est.)
13.1% (31 December 2016 est.)
country comparison to the world: 59
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$12.23 billion (31 December 2017 est.)
$10.81 billion (31 December 2016 est.)
country comparison to the world: 80
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$12.23 billion (31 December 2017 est.)
$10.81 billion (31 December 2016 est.)
country comparison to the world: 81
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$32.31 billion (31 December 2017 est.)
$30.44 billion (31 December 2016 est.)
country comparison to the world: 78
[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:
$1.134 billion (2017 est.)
$1.023 billion (2016 est.)
country comparison to the world: 47
[see also: Current account balance country ranks ]

Exports:
$11.12 billion (2017 est.)
$10.58 billion (2016 est.)
country comparison to the world: 90
[see also: Exports country ranks ]

Exports - partners:
US 33.8%, El Salvador 11.1%, Honduras 8.8%, Nicaragua 5.1%, Mexico 4.7% (2017)

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

Imports:
$17.11 billion (2017 est.)
$15.77 billion (2016 est.)
country comparison to the world: 84
[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 39.8%, China 10.7%, Mexico 10.7%, El Salvador 5.3% (2017)

Reserves of foreign exchange and gold:
$11.77 billion (31 December 2017 est.)
$9.156 billion (31 December 2016 est.)
country comparison to the world: 71
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$22.92 billion (31 December 2017 est.)
$21.45 billion (31 December 2016 est.)
country comparison to the world: 89
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$16.2 billion (2017 est.)
$14.6 billion (2016 est.)
country comparison to the world: 88
[see also: Stock of direct foreign investment - at home country ranks ]

Exchange rates:
quetzales (GTQ) per US dollar -
7.323 (2017 est.)
7.5999 (2016 est.)
7.5999 (2015 est.)
7.6548 (2014 est.)
7.7322 (2013 est.)


NOTE: 1) The information regarding Guatemala on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guatemala Economy 2019 information contained here. All suggestions for corrections of any errors about Guatemala Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 08-Feb-19
Copyright © 1995- , ITA (all rights reserved).

    . Feedback