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Guatemala

With a population of close to 14 million, Guatemala is the most populous country in Central America and accounts for about a quarter of the region’s GDP. Guatemala’s GDP alone is about close to $70 billion.  The country’s total annual trade with the rest of the world totals about $20 billion, with exports accounting for over $7 billion and imports totaling some $13 billion. With U.S. products and services enjoying high name recognition and U.S. firms having a good reputation in the Guatemalan marketplace, the country has proven to be an excellent market for U.S. products. Exports from the United States to Guatemala total close to $5 billion, accounting for a third of all Guatemalan imports.

The Guatemalan economy has done well over the last several years. Most economic and job growth is coming from non-traditional exports, such as assembled clothing, winter fruits and vegetables, furniture and cut flowers. Tourism is also developing significantly and is growing rapidly.

Agriculture—primarily coffee, sugar and bananas—accounts for about one-tenth of Guatemala’s GDP, forty percent of its exports, and half of its labor force. Among the country’s leading imports are fuel and petroleum products, machinery, grain, fertilizers, and motor vehicles. The country also has a reputation for being open to foreign investment, imposing few legal or regulatory restrictions. This situation has been even more welcoming since the implementation of CAFTA. 

For more information about Guatemala, visit any of the following links:

Doing Business In Guatemala, U.S. Department of Commerce
The World Factbook, the U.S. Central Intelligence Agency
Background Note: Guatemala, U.S. Department of State
Country profile: Guatemala, the BBC
The World Bank Group. Doing Business: Guatemala
Florida-Origin Exports to Guatemala
Florida's Merchandise Trade with Guatemala

 

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The Florida Advantage

Florida knows this region:

  • Bilateral trade between the United States and Guatemala exceeds to $8 billion annually. Of this, close to a third—$2.4 billion—passes through Florida.
  • Exports of Florida-made goods to Guatemala amount close to $800 million annually. Guatemala is one of Florida’s top 30 export markets.
  • Florida’s annual exports of Florida-made goods to the CAFTA countries total close to $5 billion, the highest of the 50 states by a wide margin.
  • About 40 percent of the total volume of merchandise trade flowing between the United States and the CAFTA countries passes through Florida.
  • Florida's airports offer more direct flights to Central American destinations than all other airports in the United States combined.
  • More than 64,000 Guatemalans make Florida home, a solid resource that helps maintain cultural and economic ties between the countries.

Learn more about how your business can benefit from a Florida connection to Guatemala.

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