Guatemala

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Guatemala - In Short.

Overview of Guatemala

The Maya civilization flourished in Guatemala and surrounding regions during the first millennium A.D. After almost three centuries as a Spanish colony, Guatemala won its independence in 1821. During the second half of the 20th century, it experienced a variety of military and civilian governments, as well as a 36-year guerrilla war. In 1996, the government signed a peace agreement formally ending the internal conflict.
Value
Country Full Name
Guatemala
Country Code
GTM
Region
Latin America & Caribbean
Income Group
Upper middle income
Currency Unit
GDP
77604632171
Population
16858333
Land Area
107160
Net National Income Per Capita
3944.813794
GDP per Capita (PPP)
8853.670021

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Guatemala - Economic

Economy of Guatemala

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.

Unemployment Rate

Inflation Rate

Guatemala - GDP Composition

GDP Composiiton & Value Added of Guatemala

Last Updated: Jan, 2021, Updated For 2020.

Guatemala - GDP, Value Added

Demographics of Guatemala

the vast majority of the populace resides in the southern half of the country, particularly in the mountainous regions; more than half of the population lives in rural areas
Geographic Location

Central America, bordering the North Pacific Ocean, between El Salvador and Mexico, and bordering the Gulf of Honduras (Caribbean Sea) between Honduras and Belize

Races

Mestizo (mixed Amerindian-Spanish - in local Spanish called Ladino) 56%, Maya 41.7%, Xinca (Indigenous, non-Maya) 1.8%, African descent 0.2%, Garifuna (mixed West and Central African, Island Carib, and Arawak) 0.1%, foreign 0.2% (2018 est.)

Languages

Spanish (official) 69.9%, Maya languages 29.7% (Q'eqchi' 8.3%, K'iche 7.8%, Mam 4.4%, Kaqchikel 3%, Q'anjob'al 1.2%, Poqomchi' 1%, other 4%), other 0.4% (includes Xinca and Garifuna); note - the 2003 Law of National Languages officially recognized 23 indigenous languages, including 21 Maya languages, Xinca, and Garifuna (2018 est.)major-language

Religion

Roman Catholic 41.7%, Evangelical 38.8%, other 2.7%, atheist 0.1%, none 13.8%, unspecified 2.9% (2018 est.)

Dependency & Expectancy of Guatemala

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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Guatemala - Social Media Briefing

Guatemala - Social Media & Social Commerce

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Politics & Policies of Guatemala

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

BCIE, CACM, CD, CELAC, EITI (compliant country), FAO, G-24, G-77, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt (signatory), ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO (correspondent), ITSO, ITU, ITUC (NGOs), LAES, LAIA (observer), MIGA, MINUSTAH, MONUSCO, NAM, OAS, OPANAL, OPCW, Pacific Alliance (observer), PCA, Petrocaribe, SICA, UN, UNCTAD, UNESCO, UNIDO, UNIFIL, Union Latina, UNISFA, UNITAR, UNMISS, UNOCI, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO

Import of Guatemala

Export of Guatemala

Import Destination

Export Destination