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