Guatemala/Economy

Economy of Guatemala

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

Coming Soon
GDP (USD)
$104.5B(2023)
GDP PPP (USD)
$249.2B(2023)
GDP per Capita (USD)
$5,763(2023)
GDP Growth (inflation-adjusted)
3.5%(2023)
Inflation (CPI Annual %)
2.9%(2024)

Trade & Finance

Coming Soon
Exports (as share of GDP)
16.6%(2023)
Imports (as share of GDP)
31.6%(2023)
FDI Inflows (as share of GDP)
1.5%(2023)
Remittance Inflow (USD)
$20.0B(2023)
Tax Revenue (as share of GDP)
11.6%(2023)

Labor & Income

Coming Soon
Unemployment Rate
2.2%(2024)
Employment in Services
51.4%(2023)
Poverty Rate
56%(2023)
GINI Index
45.2(2023)
GNI per Capita (USD)
$5,480(2023)

Energy & Environment

Coming Soon
Energy Use per Capita
888 kg oil eq.(2022)
Renewable Energy Consumption (%)
62.1%(2021)

Economic Snapshot Overview

A summary of key economic indicators for Guatemala

  • The economic architecture of Guatemala is substantial, anchored by a Gross Domestic Product (GDP) of approximately $104.45B
    2023
    . This places it as the 67th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $5.76K
    2023
    , while its GDP in Purchasing Power Parity (PPP) terms is estimated at $249.22B, reflecting the population's domestic purchasing power. The economy demonstrates solid growth, expanding at a rate of 3.5%
    2023
    , accompanied by stable price levels, with inflation (CPI) at 2.9%
    2024
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The nation runs a trade deficit, with exports at 16.6% of GDP and imports at 31.6%
    2023
    . Foreign Direct Investment (FDI) inflows are significant, constituting 1.52% of the economy
    2023
    . This performance positions the country 111th globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $19.98B annually
    2023
    , highlighting the economic importance of its diaspora. The government faces fiscal constraints, with tax revenue representing only 11.6% of GDP
    2023
    .
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $5,480
    2023
    . Globally, this ranks the nation 105th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The labor market is robust, with a low unemployment rate of 2.2%
    2024
    . The services sector is a primary driver of the labor market, accounting for 51.4% of total employment
    2023
    . Poverty remains a key issue, with 56.0% of the population living below the national poverty line
    2023
    . There is a moderate level of income inequality, with a Gini index of 45.2
    2023
    .
  • On the environment and energy front, energy consumption per capita is 887.839 kg of oil equivalent
    2022
    . The country is a leader in clean energy, with renewable sources making up 62.1% of total final energy consumption
    2021
    . Its commitment to clean energy places it 156th among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

The economy is in a "Goldilocks" state of strong growth, low inflation, and low unemployment, indicating robust macroeconomic health.

Trade & Investment Profile

The economy is primarily driven by domestic demand, with limited exposure to global trade fluctuations but also fewer opportunities for export-led growth.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

A strong commitment to renewable energy positions the country as a leader in the green transition, potentially creating new economic advantages.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.