Guatemala:
Economy

Pages for other countries and territories

Other pages in this profile of Guatemala:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition Guatemala is the most populous of the Central American countries with a GDP per capita roughly one-half that of Argentina, Brazil, and Chile. The agricultural sector accounts for about one-tenth of GDP, two-fifths of exports, and half of the labor force. Coffee, sugar, and bananas are the main products, with sugar exports benefiting from increased global demand for ethanol. The 1996 signing of peace accords, which ended 36 years of civil war, removed a major obstacle to foreign investment, and Guatemala since then has pursued important reforms and macroeconomic stabilization. On 1 July 2006, the Central American Free Trade Agreement (CAFTA) entered into force between the US and Guatemala and has since spurred increased investment in the export sector. The distribution of income remains highly unequal with about 56% of the population below the poverty line. Other ongoing challenges include increasing government revenues, negotiating further assistance from international donors, upgrading both government and private financial operations, curtailing drug trafficking and rampant crime, and narrowing the trade deficit. Given Guatemala's large expatriate community in the United States, it is the top remittance recipient in Central America, with inflows serving as a primary source of foreign income equivalent to nearly two-thirds of exports.
GDP (purchasing power parity)	Definition - World rank and map $62.53 billion (2007 est.)
GDP (official exchange rate)	Definition $33.69 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 5.7% (2007 est.)
GDP - per capita	Definition - World rank and map $4,700 (2007 est.)
GDP - composition by sector	Definition agriculture: 13.2% industry: 25.9% services: 60.8% (2007 est.)
Labor force	Definition 3.958 million (2007 est.)
Labor force - by occupation	Definition agriculture: 50% industry: 15% services: 35% (1999 est.)
Unemployment rate	Definition - World rank and map 3.2% (2005 est.)
Population below poverty line	Definition 56.2% (2004 est.)
Household income or consumption by percentage share	Definition lowest 10%: 0.9% highest 10%: 43.4% (2002)
Distribution of family income - Gini index	Definition - World rank and map 55.1 (2007)
Inflation rate (consumer prices)	Definition - World rank and map 6.8% (2007 est.)
Investment (gross fixed)	Definition - World rank and map 17.4% of GDP (2007 est.)
Budget	Definition revenues: $4.38 billion expenditures: $4.872 billion (2007 est.)
Public debt	Definition - World rank and map 20.8% of GDP (2007 est.)
Agriculture - products	Definition sugarcane, corn, bananas, coffee, beans, cardamom; cattle, sheep, pigs, chickens
Industries	Definition sugar, textiles and clothing, furniture, chemicals, petroleum, metals, rubber, tourism
Industrial production growth rate	Definition - World rank and map 5% (2007 est.)
Electricity - production	Definition - World rank and map 7.281 billion kWh (2005)
Electricity - consumption	Definition - World rank and map 6.361 billion kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 489.3 kWh (2005)
Electricity - exports	Definition 339 million kWh (2005)
Electricity - imports	Definition 23 million kWh (2005)
Oil - production	Definition - World rank and map 20,100 bbl/day (2006 est.)
Oil - consumption	Definition - World rank and map 73,510 bbl/day (2006 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 5.7 bbl/day (2006 est.)
Oil - exports	Definition - World rank and map 15,560 bbl/day (2006 est.)
Oil - imports	Definition - World rank and map 72,960 bbl/day (2006 est.)
Oil - proved reserves	Definition - World rank and map 526 million bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 2.96 billion cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$1.685 billion (2007 est.)
Exports	Definition - World rank and map $6.94 billion f.o.b. (2007 est.)
Exports - commodities	Definition coffee, sugar, petroleum, apparel, bananas, fruits and vegetables, cardamom
Exports - partners	Definition US 39.6%, El Salvador 13.3%, Honduras 8.1%, Mexico 5.9%, Nicaragua 4.4%, Costa Rica 4.2% (2006)
Imports	Definition - World rank and map $12.62 billion f.o.b. (2007 est.)
Imports - commodities	Definition fuels, machinery and transport equipment, construction materials, grain, fertilizers, electricity
Imports - partners	Definition US 32.6%, Mexico 9.3%, China 6.5%, El Salvador 5.6%, South Korea 5.1% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $4.139 billion (31 December 2007 est.)
Debt - external	Definition - World rank and map $5.908 billion (31 December 2007 est.)
Market value of publicly traded shares	Definition $NA
Economic aid - recipient	Definition $253.6 million (2005 est.)
Currency (code)	Definition quetzal (GTQ), US dollar (USD), others allowed
Exchange rates	Definition quetzales per US dollar - 7.6833 (2007), 7.6026 (2006), 7.6339 (2005), 7.9465 (2004), 7.9409 (2003)
Fiscal year	Definition calendar year

Guatemala: Economy

Guatemala:
Economy