Admin Table of Contents
Who did Guatemala trade with?
Economy of Guatemala
| Statistics | |
|---|---|
| Export goods | sugar, coffee, petroleum, apparel, bananas, fruits and vegetables, cardamom, manufacturing products, precious stones and metals, electricity |
| Main export partners | United States 33.8% El Salvador 11.1% Honduras 8.8% Nicaragua 5.1% Mexico 4.7% (2017) |
| Imports | $17.11 billion (2017 est.) |
What do we trade with Guatemala?
U.S. merchandise exports to Guatemala were USD 6.6 billion in 2018. Leading U.S. exports to Guatemala include mineral fuel, oil, nuclear reactors and machinery, electric machinery and cereals (corn, wheat and rice). U.S. imports from Guatemala were USD 4.2 billion in 2018, a slight increase from 2017.
How are goods transported in and out of Guatemala?
Buses are the main method of transportation for most Guatemalans, and many travelers choose to save money by taking buses. Often referred to as “chicken buses”, these local inter- and intracity buses are often set in old U.S. school buses.
What is the main product of Guatemala?
The major exports are chemical products and coffee, followed by sugar, bananas, crude petroleum, and cardamom. The exports of vegetables, fresh fruits, cut flowers, and seafoods are of increasing importance.
What is the main import of Guatemala?
Guatemala’s main imports are oil, capital goods and consumer goods. Guatemala’s main import partner is the United States (38 percent of total imports). Others include: Mexico, China, and Central America.
What is the trade balance between Guatemala and the US?
The United States is Guatemala’s largest trading partner, and total (two-way) goods trade between the two countries was $9.7 billion during 2020. U.S. goods exports to Guatemala in 2020 totaled $5.8 billion, while goods imports totaled $3.8 billion, making the U.S. goods trade surplus with Guatemala just under $2 billion in 2020.
Why do US companies do business in Guatemala?
U.S. products and services enjoy strong brand recognition in Guatemala, and U.S. firms have a good reputation in the Guatemalan marketplace. It is estimated that approximately 200 U.S. firms have a presence in the market.
What does the US import and export from Guatemala?
Leading U.S. exports to Guatemala include mineral fuel, oil, nuclear reactors and machinery, electric machinery and cereals (corn, wheat and rice). U.S. imports from Guatemala were USD 4.2 billion in 2018, a slight increase from 2017.
Why is Guatemala’s economy so informal?
Approximately 70 percent of Guatemala’s economy is informal, characterized by low productivity, wages, and competitiveness. Without access to local economic opportunities, Guatemalans are migrating to other countries.