| Economy | Guatemala |
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Economy - overview:
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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 nearly 15% of GDP and half of the labor force; key agricultural exports include coffee, sugar, and bananas. 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 American 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 10% of the population accounting for more than 40% of Guatemala's overall consumption. More than half of the population is below the national poverty line and 15% lives in extreme poverty. Poverty among indigenous groups, which make up 38% of the population, averages 76% and extreme poverty rises to 28%. 43% of children under five are chronically malnourished, one of the highest malnutrition rates in the world. Given Guatemala's large expatriate community in the United States, it is the top remittance recipient in Central America, with inflows serving as a primary source of foreign income equivalent to nearly two-thirds of exports or one-tenth of GDP. Economic growth fell in 2009 as export demand from US and other Central American markets dropped and foreign investment slowed amid the global recession, but the economy recovered gradually in 2010-11 and will likely return to more normal growth rates in 2012. |
GDP (purchasing power parity):
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$73.95 billion (2011 est.)
$71.91 billion (2010 est.)
$69.97 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$5,000 (2011 est.)
$5,000 (2010 est.)
$5,000 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$46.7 billion (2011 est.) |
GDP - real growth rate:
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2.8% (2011 est.)
2.8% (2010 est.)
0.5% (2009 est.) |
GDP - composition by sector:
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agriculture: 13.1%
industry: 23.8%
services: 63.2% (2011 est.) |
Investment (gross fixed):
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15% of GDP (2011 est.) |
Population below poverty line:
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51% (2006 est.) |
Household income or consumption by percentage share:
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lowest 10%: 1.3%
highest 10%: 42.4% (2006) |
Distribution of family income - Gini index:
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55.1 (2007)
55.8 (1998) |
Inflation rate (consumer prices):
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6.4% (2011 est.)
3.9% (2010 est.) |
Central bank discount rate:
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6.5% (31 December 2010 est.)
NA% (31 December 2009 est.) |
Commercial bank prime lending rate:
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13.5% (31 December 2011 est.)
13.34% (31 December 2010 est.) |
Stock of money:
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$6.106 billion (31 December 2008)
$5.876 billion (31 December 2007) |
Stock of money - per capita:
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442 USD per capita |
Stock of quasi money:
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$9.7 billion (31 December 2008)
$8.903 billion (31 December 2007) |
Stock of quasi money - per capita:
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702 USD per capita |
Stock of domestic credit:
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$17.84 billion (31 December 2011 est.)
$15.94 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
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1,291 USD per capita |
Stock of narrow money:
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$7.454 billion (31 December 2011 est.)
$6.806 billion (31 December 2010 est.) |
Stock of broad money:
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$28.24 billion (31 December 2011 est.)
$25.54 billion (31 December 2010 est.) |
Labor force:
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4.249 million (2011 est.) |
Labor force participation rate:
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30.74 % of population |
Labor force - by occupation:
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agriculture: 50%
industry: 15%
services: 35% (1999 est.) |
Unemployment rate:
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1.8% (2006 est.)
3.2% (2005 est.) |
Unemployment, youth ages 15-24:
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void |
Budget:
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revenues: $5.421 billion
expenditures: $6.87 billion (2011 est.) |
Budget revenues per capita:
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393 USD per capita |
Taxes and other revenues:
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11.6% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-3.1% of GDP (2011 est.) |
Public debt:
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29.5% of GDP (2011 est.)
29.7% of GDP (2010 est.) |
Industries:
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sugar, textiles and clothing, furniture, chemicals, petroleum, metals, rubber, tourism |
Industrial production growth rate:
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4.3% (2011 est.) |
Electricity - production:
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8.395 billion kWh (2008 est.) |
Electricity - production per capita:
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608 kWh per capita |
Electricity - consumption:
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7.108 billion kWh (2008 est.) |
Electricity - consumption - per capita:
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515 kWh per capita |
Electricity - exports:
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76 million kWh (2008 est.) |
Electricity - imports:
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71 million kWh (2008 est.) |
Oil - production:
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13,070 bbl/day (2010 est.) |
Oil - production per capita:
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946 bbl/day per capita |
Oil - consumption:
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71,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
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1.87 bbl/year per capita |
Oil - exports:
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15,300 bbl/day (2009 est.) |
Oil - imports:
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78,550 bbl/day (2009 est.) |
Oil - proved reserves:
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83.07 million bbl (1 January 2011 est.) |
Natural gas - production:
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0 cu m (2009 est.) |
Natural gas - production per capita:
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void |
Natural gas - consumption:
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0 cu m (2009 est.) |
Natural gas - consumption - per capita:
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void |
Natural gas - exports:
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0 cu m (2009 est.) |
Natural gas - imports:
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0 cu m (2009 est.) |
Natural gas - proved reserves:
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2.96 billion cu m (1 January 2006 est.) |
Agriculture - products:
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sugarcane, corn, bananas, coffee, beans, cardamom; cattle, sheep, pigs, chickens |
Current account balance:
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-$2.712 billion (2011 est.)
-$878.3 million (2010 est.) |
Current account balance - per capita:
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-196 USD per capita |
Exports:
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$10.32 billion (2011 est.)
$8.566 billion (2010 est.) |
Exports per capita:
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747 USD per capita |
Exports - commodities:
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coffee, sugar, petroleum, apparel, bananas, fruits and vegetables, cardamom |
Exports - partners:
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US 36.8%, El Salvador 10.3%, Honduras 8.8%, Mexico 7.5% (2010) |
Imports:
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$16.54 billion (2011 est.)
$12.86 billion (2010 est.) |
Imports per capita:
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1,197 USD per capita |
Imports - commodities:
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fuels, machinery and transport equipment, construction materials, grain, fertilizers, electricity |
Imports - partners:
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US 34.6%, Mexico 11.8%, China 7.9%, El Salvador 5.3% (2010) |
Reserves of foreign exchange and gold:
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$6.359 billion (31 December 2011 est.)
$5.646 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
460 USD per capita |
Debt - external:
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$18.16 billion (31 December 2011 est.)
$15.75 billion (31 December 2010 est.) |
Debt - external - per capita:
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1,314 USD per capita |
Stock of direct foreign investment - at home:
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void |
Stock of direct foreign investment - at home - per capita:
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void |
Stock of direct foreign investment - abroad:
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void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
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$NA |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
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quetzal (GTQ), US dollar (USD), others allowed |
Exchange rates:
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quetzales (GTQ) per US dollar -
7.799 (2011 est.)
8.0578 (2010 est.)
8.1616 (2009)
7.5895 (2008)
7.6833 (2007) |
Fiscal year:
|
calendar year |
|
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