Guatemala Economy:
Guatemala is the largest and most populous of the Central American countries with a GDP per capita roughly one-half that of Brazil, Argentina, and Chile. The agricultural sector accounts for about one-fourth of GDP, two-thirds of exports, and half of the labor force. Coffee, sugar, and bananas are the main products. The 1996 signing of peace accords, which ended 36 years of civil war, removed a major obstacle to foreign investment, but widespread political violence and corruption scandals continue to dampen investor confidence. The distribution of income remains highly unequal, with perhaps 75% of the population below the poverty line. Other ongoing challenges include increasing government revenues, negotiating further assistance from international donors, upgrading both government and private financial operations, curtailing drug trafficking, and narrowing the trade deficit.
GDP (purchasing power parity):
$59.47 billion (2004 est.)
GDP real growth rate:
2.6% (2004 est.)
GDP per capita:
purchasing power parity: $4,200 (2004 est.)
GDP composition by sector:
agriculture: 22.7%
industry: 19.5%
services: 57.9%
(2004)
Labor force:
3.68 million (2004 est.)
Labor force by occupation:
agriculture: 50%, industry: 15%, services: 35% (1999 est.)
Unemployment rate:
7.5% (2003 est.)
Population below poverty line:
75% (2004 est.)
Household income or consumption by percentage share:
lowest 10%: 1.6%
highest 10%: 46% (1998)
Distribution of family income Gini index:
55.8 (1998 est.)
Inflation rate (consumer prices):
7.2% (2004 est.)
Investment (gross fixed):
14.9% of GDP (2004 est.)
Budget:
revenues: $2.88 billion
expenditures: $3.41 billion
capital expenditures: $750 million including capital expenditures of $750 million (2004 est.)
Public debt:
32% of GDP (2004 est.)
Agriculture products:
Sugarcane, corn, bananas, coffee, beans, cardamom; cattle, sheep, pigs, chickens
Industries:
sugar, textiles and clothing, furniture, chemicals, petroleum, metals, rubber, tourism
Industrial production growth rate:
4.1% (1999 est.)
Electricity production:
6.61 billion kWh (2002 est.)
Electricity consumption:
5.76 billion kWh (2002 est.)
Electricity exports:
440 million kWh (2002 est.)
Electricity imports:
55 million kWh (2002 est.)
Oil production:
25,000 bbl/day (2004 est.)
Oil consumption:
61,000 bbl/day (2001 est.)
Oil exports:
3,104 (2003 est.)
Oil imports:
NA
Oil proved reserves:
263 million bbl (1 January 2002 est.)
Natural gas proved reserves:
1.54 billion cu m (1 January 2002 est.)
Current account balance:
$-1.38 billion (2004 est.)
Exports:
$2.91 billion (f.o.b. 2004 est.)
Exports commodities:
coffee, sugar, petroleum, apparel, bananas, fruits and vegetables, cardamom
Exports partners:
US 53%, El Salvador 11.4%, Honduras 7.1%, Mexico 4.1% (2004)
Imports:
$7.77 billion (f.o.b. 2004 est.)
Imports commodities:
fuels, machinery and transport equipment, construction materials, grain, fertilizers, electricity
Imports partners:
US 34%, Mexico 8.1%, South Korea 6.8%, China 6.6%, Japan 4.4% (2004)
Reserves of foreign exchange and gold:
$3.08 billion (2004 est.)
Debt external:
$5.97 billion (2004 est.)
Economic aid recipient:
$250 million (2000 est.)
Currency:
quetzal (GTQ), US dollar (USD), others allowed
Exchange rates:
quetzales per US$: 7.95 (2004 est.), 7.94 (2003 est.), 7.82 (2002 est.), 7.86 (2001 est.), 7.76 (2000 est.)
Fiscal year:
calendar year
|
