Guatemala: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Lower Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | The private sector accounts for 85% of Guatemala's GDP. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): United States, China, and Mexico |
| Top Industries Source: CIA World Factbook | Sugar; Textiles and Clothing; Furniture; Chemicals |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $187,780,591,518 (2022) |
| GDP Growth Rate (annual %) | 4.118% (2022) |
| GDP Per Capita, PPP (current international) | $10,818 (2022) |
GDP Country Rank 77/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 6.885% (2022) |
| External debt stocks, total (DOD, current US$) | $26,964,587,120 (2021) |
| Total tax rate (% of commercial profits) | 35.2% (2019) |
| Real Interest Rate (5 year average %) | 5.365% (2022) |
| Manufacturing, value added (% of GDP) | 14.104% (2022) |
| Current Account Balance (BoP, current US$) | $2,113,335,030 (2021) |
Labor and Employment [1]
| Labor Force, Total | 6,884,303 (2022) |
| Employment in Agriculture (% of total employment) | 29.174% (2021) |
| Employment in Industry (% of total employment) | 22.064% (2021) |
| Employment in Services (% of total employment) | 48.763% (2021) |
| Unemployment Rate | 2.569% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $33,872,885,194 (2022) |
| Exports of goods and services (current US$) | $18,065,396,445 (2022) |
| Total Merchandise Trade (% of GDP) | 50.326% (2022) |
| FDI, net inflows (BoP, current US$) | $1,338,345,150 (2022) |
| Commercial Service Exports (current US$) | $2,820,093,920 (2021) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Guatemala’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.