Guatemala Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in guatemala, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
Select Country Guide
Market Overview
Last published date:

The United States is Guatemala’s largest trading partner accounting for nearly 35% of Guatemala’s trade. Both nations enjoy a growing trade relationship, which became even stronger after the implementation of the U.S.-Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) in 2007.  As of January 1, 2015, most U.S. consumer and industrial goods enter CAFTA-DR countries duty free (for goods that meet the country-of-origin requirements).

In general, CAFTA-DR has been very successful for all parties. Intra-regional trade among Central American countries and the Dominican Republic increased from $27.2 billion in 2020 to more than $38.7 billion in 2021. U.S. goods exports to Central America and the Dominican Republic have reached $48.31 million in 2022 (this figure was $16.89 million in 2005).  (The Agreement signed in 2004, taking effect for the first signatories).  Nevertheless, CAFTA-DR has been unable to solve some of the region’s most serious problems – including insecurity and corruption.

U.S. merchandise exports to Guatemala were $10.21 billion in 2022, an increase of $2.14 billion or 23% from 2021. Leading U.S. exports to Guatemala include mineral fuel oil, machinery, electric machinery, plastics, and cereals (corn, wheat, and rice).

U.S. imports from Guatemala totaled $5.31 billion in 2022, an increase of $640 million or 12.8% from 2021. U.S. imports include apparel; edible fruits, melons, and nuts; coffee; edible vegetables, roots, and tubers; sugars and confectioneries of sugar.

Guatemala’s economy is the largest in Central America, with a GDP in 2022 of $95 billion – slightly smaller than the GDP of West Virginia and larger than Delaware. The macroeconomic situation in the country remains solid and includes a stable exchange rate and a low public debt. Guatemala’s economic growth was 4.1% in 2022 and is forecast to grow by 3.5% through 2024.

U.S. products and services enjoy strong brand recognition in Guatemala, and U.S. companies have a good reputation in the Guatemalan marketplace. It is estimated that approximately 200 U.S. firms have a presence in the market.

A key component to Guatemala’s economy is remittances from over two million migrants, most of whom have settled in the United States. In 2022, Guatemala set a record number of remittances totaling $18,040 million, $2,744 million higher than in 2021.   Foreign remittances in Guatemala represent over 19% of the country’s GDP.

Political & Economic Environment:  State Department’s website for background on the country’s political environment.

×

Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

Privacy

The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

Privacy Program | Information Quality Guidelines | Accessibility