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.
2.8% (2017 est.)
3.1% (2016 est.)
4.1% (2015 est.)
3.7% (2019 est.)
3.7% (2018 est.)
4.4% (2017 est.)
Fitch rating: BB- (2020)
Moody's rating: Ba1 (2010)
Standard & Poors rating: BB- (2017)
$143.416 billion (2019 est.)
$138.106 billion (2018 est.)
$133.804 billion (2017 est.)
note: data are in 2017 dollars
$76.678 billion (2019 est.)
$8,637 (2019 est.)
$8,448 (2018 est.)
$8,317 (2017 est.)
note: data are in 2017 dollars
16.9% of GDP (2019 est.)
14.7% of GDP (2018 est.)
14.7% of GDP (2017 est.)
agriculture: 13.3% (2017 est.)
industry: 23.4% (2017 est.)
services: 63.2% (2017 est.)
household consumption: 86.3% (2017 est.)
government consumption: 9.7% (2017 est.)
investment in fixed capital: 12.3% (2017 est.)
investment in inventories: -0.2% (2017 est.)
exports of goods and services: 18.8% (2017 est.)
imports of goods and services: -26.9% (2017 est.)
Overall score: 62.6 (2020)
Starting a Business score: 86.8 (2020)
Trading score: 77.2 (2020)
Enforcement score: 34.5 (2020)
sugar cane, bananas, oil palm fruit, maize, melons, potatoes, milk, plantains, pineapples, rubber
sugar, textiles and clothing, furniture, chemicals, petroleum, metals, rubber, tourism
1.8% (2017 est.)
6.664 million (2017 est.)
agriculture: 31.4%
industry: 12.8%
services: 55.8% (2017 est.)
2.3% (2017 est.)
2.4% (2016 est.)
59.3% (2014 est.)
48.3 (2014 est.)
56 (2011)
lowest 10%: 1.6%
highest 10%: 38.4% (2014)
revenues: 8.164 billion (2017 est.)
expenditures: 9.156 billion (2017 est.)
10.8% (of GDP) (2017 est.)
-1.3% (of GDP) (2017 est.)
24.7% of GDP (2017 est.)
24.5% of GDP (2016 est.)
calendar year
$1.134 billion (2017 est.)
$1.023 billion (2016 est.)
$11.12 billion (2017 est.)
$10.58 billion (2016 est.)
United States 33%, El Salvador 12%, Honduras 8%, Mexico 5%, Nicaragua 5% (2019)
bananas, raw sugar, coffee, cardamom, palm oil (2019)
$17.11 billion (2017 est.)
$15.77 billion (2016 est.)
United States 36%, China 12%, Mexico 11%, El Salvador 5% (2019)
refined petroleum, broadcasting equipment, packaged medicines, cars, delivery trucks (2019)
$11.77 billion (31 December 2017 est.)
$9.156 billion (31 December 2016 est.)
$22.92 billion (31 December 2017 est.)
$21.45 billion (31 December 2016 est.)
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: The information regarding Guatemala on this page is re-published from the 2021 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Guatemala 2021 information contained here. All suggestions for corrections of any errors about Guatemala 2021 should be addressed to the CIA or the source cited on each page.
This page was last modified 16 Dec 23, Copyright © 2023 ITA all rights reserved.