Guatemala (orthographic projection)

Guatemala's main industry is agriculture. Exports are mainly sugar cane, African palm and maize for biofuel production, but also increasingly fruit, vegetables and coffee. Tourism is becoming a major industry, and with good reason. As well as unspoilt Caribbean beaches, visitors are treated to ancient ruins of the Mayan civilisation, and the more recent ruins of Spanish colonisation. The SICA customs union and free trade agreements, as well as business legislation promoting privatisation over monopolies, have helped to attract foreign investment. FDI is rising, especially in sectors such as food, telecommunications, tourism and consumer goods.

Its population in 2018 was 17,245,346 [1]

In 2015, 63.65% of its total energy
consumption was renewable [2]

In 2021, its GDP grew by 7.53% [2]

In 2021 it had a positive Current
Account Balance of US$bn 2.34 [3]

Its Expenditure on R&D (as a percentage of
GDP) in 2019 was 0.03% [2]

A Big Mac will set you back the
local equivalent of US$3.23 [4]

What free trade areas or economic unions is it a member of?

Member of the Central America Integration System (SICA) since 13/12/1991

Other members:

Belize, Costa Rica, Dominican Republic, El Salvador, Honduras, Nicaragua, Panama

What trade deals are there between Central America Integration System and other countries and economic unions?

EU - Central America Association Agreement (from 01/08/2013)

What trade deals are there with other countries and economic unions?

Guatemala - Chinese Taipei free trade agreement (from 01/07/2006)

Colombia - Northern Triangle free trade agreement (from 12/11/2009)

Chile - Guatemala free trade agreement (from 23/03/2010)

Mexico - Central America free trade agreement (from 01/09/2012)

EFTA - Central America Free Trade Agreement (from 05/09/2014)

UK - Central America association agreement (from 01/01/2021)

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Trade with the United Kingdom

Source: UK Office for National Statistics, October 2022.

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