unbekannter Gast

Guatemala: Economy#

Guatemala is the most populous country in Central America with a GDP per capita roughly one-half that of the average for Latin America and the Caribbean. The agricultural sector accounts for 13.5% of GDP and 30% of the labor force; key agricultural exports include coffee, sugar, bananas, and vegetables. The 1996 peace accords, which ended 36 years of civil war, removed a major obstacle to foreign investment, and since then Guatemala has 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 13% of the population lives in extreme poverty. Poverty among indigenous groups, which make up more than 40% of the population, averages 73%, with 22% 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. Guatemala is the top remittance recipient in Central America as a result of Guatemala's large expatriate community in the United States. These inflows are a primary source of foreign income, equivalent to one-half of the country's exports or one-tenth of its GDP.

Economic Facts#

GDP (purchasing power parity)$81.51 billion (2013 est.)
$78.91 billion (2012 est.)
$76.64 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate3.3% (2013 est.)
3% (2012 est.)
4.2% (2011 est.)
GDP - per capita (PPP)$5,300 (2013 est.)
$5,200 (2012 est.)
$5,200 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 13.5%
industry: 23.8%
services: 62.7% (2013 est.)
Population below poverty line54% (2011 est.)
Household income or consumption by percentage sharelowest 10%: 1.3%
highest 10%: 42.4% (2006)
Labor force - by occupationagriculture: 38%
industry: 14%
services: 48% (2011 est.)
Exports - commoditiescoffee, sugar, petroleum, apparel, bananas, fruits and vegetables, cardamom
Exports - partnersUS 40.2%, El Salvador 11.1%, Honduras 8%, Mexico 5.5%, Nicaragua 4.7%, Costa Rica 4.3% (2012)
Agriculture - productssugarcane, corn, bananas, coffee, beans, cardamom; cattle, sheep, pigs, chickens
Budgetrevenues: $6.411 billion
expenditures: $7.851 billion (2013 est.)
Imports - commoditiesfuels, machinery and transport equipment, construction materials, grain, fertilizers, electricity, mineral products, chemical products, plastic materials and products
Imports - partnersUS 38%, Mexico 11.3%, China 7.4%, El Salvador 4.6% (2012)
Exchange ratesquetzales (GTQ) per US dollar -
7.883 (2013 est.)
7.8336 (2012 est.)
8.0578 (2010 est.)
8.1616 (2009)
7.5895 (2008)
Exports$10.29 billion (2013 est.)
$10.11 billion (2012 est.)
Debt - external$17.67 billion (31 December 2013 est.)
$16.61 billion (31 December 2012 est.)
Fiscal yearcalendar year
Imports$16.7 billion (2013 est.)
$15.84 billion (2012 est.)
Industrial production growth rate3.7% (2013 est.)
Industriessugar, textiles and clothing, furniture, chemicals, petroleum, metals, rubber, tourism
Inflation rate (consumer prices)4.4% (2013 est.)
3.8% (2012 est.)
Labor force4.465 million (2013 est.)
Unemployment rate4.1% (2011 est.)
3.5% (2010 est.)
Distribution of family income - Gini index55.1 (2007)
55.8 (1998)
Public debt31% of GDP (2013 est.)
29.5% of GDP (2012 est.)
Current account balance-$1.822 billion (2013 est.)
-$1.489 billion (2012 est.)
Reserves of foreign exchange and gold$7.118 billion (31 December 2013 est.)
$6.694 billion (31 December 2012 est.)
GDP (official exchange rate)$53.9 billion (2013 est.)
Market value of publicly traded shares$NA
Central bank discount rate6.5% (31 December 2010 est.)
Commercial bank prime lending rate13.4% (31 December 2013 est.)
13.49% (31 December 2012 est.)
Stock of domestic credit$22.6 billion (31 December 2013 est.)
$20.5 billion (31 December 2012 est.)
Stock of narrow money$8.461 billion (31 December 2013 est.)
$7.975 billion (31 December 2012 est.)
Stock of broad money$23.83 billion (31 December 2013 est.)
$22.3 billion (31 December 2012 est.)
Taxes and other revenues11.9% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-2.7% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 84.5%
government consumption: 11%
investment in fixed capital: 14.1%
investment in inventories: 0.7%
exports of goods and services: 25.1%
imports of goods and services: -35.3%
(2013 est.)