The most commonly grown crops in Guatemala are coffee, bananas, nutmeg and cane sugar. The agricultural sector employs approximately 50% of the country’s workforce and produces some of Guatemala’s largest export products.
What is Guatemala known for producing?
The major exports are chemical products and coffee, followed by sugar, bananas, crude petroleum, and cardamom. The exports of vegetables, fresh fruits, cut flowers, and seafoods are of increasing importance.
What does Guatemala export the most?
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’s main industry?
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 are the main resources in Guatemala?
Overview of Resources
Guatemala has abundant mineral reserves that include uranium, sand and gravel, nickel, limestone, petroleum, coal, gold, silver, copper, iron ore and cobalt. These minerals play a significant role in providing investment potential for fostering development and exploration in the country.
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 products are manufactured in Guatemala?
Guatemalan factories produce beverages, candles, cement, pharmaceuticals, chemicals, cigarettes, foodstuffs, furniture, matches, molasses, rubber goods, shirts, shoes, soap, sugar, textiles, and apparel.
What does Guatemala export and import?
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).
|Product||US Imports in 2020|
|Coffee, tea, mate, and spices||$272.50M|
|Edible vegetables and certain roots and tubers||$251.46M|
What goods are imported to and exported from Guatemala?
Leading exported goods from Guatemala by value 2020
Bananas and coffee were the second and third most exported Guatemalan goods, reaching 943 million and 652.6 million dollars, respectively. On the other hand, Guatemala mainly imports products such as petroleum, phones, and vehicles.
What type of economic system does Guatemala have?
Guatemala has a mixed economic system which includes a variety of emerging private freedom, combined with centralized economic planning and government regulation.
What is the largest company in Guatemala?
Top 50 companies in Guatemala by revenue
- Banco de Desarrollo Rural S.A. – BANRURAL –
- Avicola Villalobos S.A.
- Bananera Nacional S.A.
- Seguros G&T, S.A.
- Tropigas de Guatemala SA.
- Gerencia y Sistemas, S.A.
- Distribuidora de Electricidad de Oriente, S.A.
- Cooperativa Agricola Integral Union de Cuatro Pinos RL.
What is the most used natural resource in Guatemala?
Guatemala’s natural resources and their exploitation
The most important natural resource of Guatemala is his very fertile soil, so it is basically an agricultural country and livestock. But the land is rich in variety of metallic and non-metallic minerals, although the resource has not been taken advantage of properly.
How does Guatemala make their 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.
Why Guatemala is 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.