Guatemala mainly exports coffee and clothes, each representing 12 percent of total exports. Other exports include: sugar, banana and precious metals. Guatemala’s mains export partner is the United States (40 percent of exports). Others include: Mexico, El Salvador, Honduras and the Euro Area.
What is Guatemala biggest import?
Guatemala’s main imports are oil, capital goods and consumer goods. Guatemala’s main import partner is the United States (38 percent of total imports). Others include: Mexico, China, and Central America.
What is Guatemala known for producing?
Guatemala – Agriculture
The principal cash crops are coffee, sugar, bananas, and cotton, followed by hemp, essential oils, and cacao. Coffee is grown on highland plantations; most of the bananas are produced along the Atlantic coastal plain.
What goods are exported and imported in Guatemala?
U.S. merchandise exports to Guatemala were $6.29 billion in 2020. Leading U.S. exports to Guatemala include mineral fuel oil, machinery, electric machinery, and cereals (corn, wheat, and rice). U.S. imports from Guatemala totaled $3.76 billion in 2020, a slight decrease from 2019.
What are the main products in Guatemala?
Guatemala’s 5 most valuable export products are: spices including nutmeg and cardamons; bananas including plantains; coffee; sugar; and palm oil. Collectively, those major product groups account for almost a third (32.5%) of total Guatemalan exported goods by value.
Why Guatemala is so poor?
Many depend on farming inherited land as their sole source of income, contributing to cyclical poverty in Guatemala. As 65 percent of the land is controlled by 2.5 percent of farms, land is passed down through families and most consider farming one of their only options.
What is the main crop in Guatemala?
The agricultural sector is a crucial component of Guatemala’s economy representing around 25% of the GDP and employing 50% of the labour force. The main crops are coffee, sugarcane, bananas and cotton, but also palm tree, celery, cauliflower and asparagus for a shorter period.
What products does Guatemala export to the US?
The top export categories (2-digit HS) in 2019 were: mineral fuels ($2.4 billion), special other (medicinal and pharmaceutical) ($632 million), machinery ($443 million), cereals (corn) ($352 million), and electrical machinery ($345 million).
What do we import from Guatemala?
U.S. imports from Guatemala were USD 4.2 billion in 2018, a slight increase from 2017. U.S. imports include edible fruits and nuts; knit aparel; coffee, tea and spices; woven apparel; edible vegetables, roots and tubers.
What are El Salvador’s main exports?
El Salvador exports mainly manufactured products (97 percent of total sales), such as textiles, chemicals ,rubber and plastics and metallic products. The country is also a traditional exporter of sugar and coffee. The main export partner is the United States with 45 percent of total sales.
How does Guatemala make money?
Guatemala has the largest economy in Central America, according to the World Bank, and it has grown steadily in the 21st century. Services, manufacturing and agriculture are top sectors. Remittances from Guatemalans living abroad are a major source of foreign income for the country.
What is the biggest industry in Guatemala?
Economy of Guatemala
|Main industries||sugar, textiles and clothing, furniture, chemicals, petroleum, metals, rubber, tourism|
|Ease-of-doing-business rank||96th (easy, 2020)|
|Exports||$11.12 billion (2017 est.)|
What’s the largest industry in Guatemala?
Manufacture and agriculture sectors
The industrial, manufacturing, and agricultural sectors are part of the largest industries in Guatemala. These sectors primarily focus on the production of the following products: textiles. furniture.
What type of economy is Guatemala?
Guatemala has a mixed economic system which includes a variety of emerging private freedom, combined with centralized economic planning and government regulation.