Page last updated on June 22, 2014

Economy - overview:
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.

GDP (purchasing power parity):
$81.51 billion (2013 est.)
country comparison to the world: 80
$78.91 billion (2012 est.)
$76.64 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$53.9 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.3% (2013 est.)
country comparison to the world: 105
3% (2012 est.)
4.2% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$5,300 (2013 est.)
country comparison to the world: 157
$5,200 (2012 est.)
$5,200 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household 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.)

GDP - composition, by sector of origin:
agriculture: 13.5%
industry: 23.8%
services: 62.7% (2013 est.)

Agriculture - products:
sugarcane, corn, bananas, coffee, beans, cardamom; cattle, sheep, pigs, chickens

Industries:
sugar, textiles and clothing, furniture, chemicals, petroleum, metals, rubber, tourism

Industrial production growth rate:
3.7% (2013 est.)
country comparison to the world: 80
[see also: Industrial production growth rate country ranks ]

Labor force:
4.465 million (2013 est.)
country comparison to the world: 85
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 38%
industry: 14%
services: 48% (2011 est.)

Unemployment rate:
4.1% (2011 est.)
country comparison to the world: 35
3.5% (2010 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
54% (2011 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.3%
highest 10%: 42.4% (2006)

Distribution of family income - Gini index:
55.1 (2007)
country comparison to the world: 11
55.8 (1998)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $6.411 billion
expenditures: $7.851 billion (2013 est.)

Taxes and other revenues:
11.9% of GDP (2013 est.)
country comparison to the world: 204
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.7% of GDP (2013 est.)
country comparison to the world: 112
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
31% of GDP (2013 est.)
country comparison to the world: 117
29.5% of GDP (2012 est.)
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
4.4% (2013 est.)
country comparison to the world: 145
3.8% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.5% (31 December 2010 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
13.4% (31 December 2013 est.)
country comparison to the world: 54
13.49% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$8.461 billion (31 December 2013 est.)
country comparison to the world: 85
$7.975 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$23.83 billion (31 December 2013 est.)
country comparison to the world: 80
$22.3 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$22.6 billion (31 December 2013 est.)
country comparison to the world: 78
$20.5 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.822 billion (2013 est.)
country comparison to the world: 138
-$1.489 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$10.29 billion (2013 est.)
country comparison to the world: 94
$10.11 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
coffee, sugar, petroleum, apparel, bananas, fruits and vegetables, cardamom

Exports - partners:
US 40.2%, El Salvador 11.1%, Honduras 8%, Mexico 5.5%, Nicaragua 4.7%, Costa Rica 4.3% (2012)

Imports:
$16.7 billion (2013 est.)
country comparison to the world: 84
$15.84 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
fuels, machinery and transport equipment, construction materials, grain, fertilizers, electricity, mineral products, chemical products, plastic materials and products

Imports - partners:
US 38%, Mexico 11.3%, China 7.4%, El Salvador 4.6% (2012)

Reserves of foreign exchange and gold:
$7.118 billion (31 December 2013 est.)
country comparison to the world: 84
$6.694 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$17.67 billion (31 December 2013 est.)
country comparison to the world: 83
$16.61 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Exchange rates:
quetzales (GTQ) per US dollar -
7.883 (2013 est.)
7.8336 (2012 est.)
8.0578 (2010 est.)
8.1616 (2009)
7.5895 (2008)