A Central American country sharing its borders with Mexico to the north, Belize to its northeast, Honduras to its east, and El Salvador to its southeast, the Republic of Guatemala exported US$14.6 billion worth of products around the globe in 2024.

That dollar amount reflects a 27.9% advance from the $11.4 billion worth of Guatemalan exports in 2020.

Year over year, revenues for Guatemala’s global exports rose 2.8% compared to $14.2 billion during 2023.

Based on the average exchange rate for 2024, the Guatemalan quetzal depreciated by -0.9% against the US dollar from 2023 to 2024. Guatemala’s weaker local currency makes its exports paid for in stronger US dollars relatively less expensive for international buyers starting from American currency.

Guatemala’s Best Customers for its Exports

The latest available country-specific data shows that 85.3% of products exported from Guatemala was bought by importers in: United States of America (32.2% of the Guatemalan total), El Salvador (13.4%), Honduras (11.5%), Nicaragua (7.3%), Mexico (5%), Costa Rica (4.6%), Netherlands (3.4%), Panama (2.2%), Dominican Republic (2%), Canada (1.27%), Saudi Arabia (1.24%) and Spain (1.18%).

From a continental perspective, 46.3% of Guatemala’s exports by value was delivered to Latin America excluding Mexico but including the Caribbean.

Meanwhile 38.5% was sold to importers in North America. Guatemala shipped another 8.4% worth of goods to buyers in Europe.

Smaller percentages went to customers located in Asia (6.2%), Africa (0.4%) then Oceania (0.2%) led by Australia and New Zealand.

A population of 17.9 million people in 2024 makes Guatemala the most highly populated country in Central America. Guatemala’s $14.6 billion in exported goods translates to roughly $800 worth of exports per resident. That dollar metric exceeds the average $750 per capita one year earlier in 2023.

Guatemala’s Top 10 Exports

The following export product groups represent the highest dollar value in Guatemalan global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from Guatemala.

1. Fruits, nuts: US$1.6 billion (10.9% of total exports)
2. Knit or crochet clothing, accessories: $1.48 billion (10.2%)
3. Coffee, tea, spices: $1.42 billion (9.8%)
4. Sugar, sugar confectionery: $916.6 million (6.3%)
5. Animal/vegetable fats, oils, waxes: $728.6 million (5%)
6. Plastics, plastic articles: $565.1 million (3.9%)
7. Pharmaceuticals: $422.8 million (2.9%)
8. Paper, paper items: $415.1 million (2.8%)
9. Mineral fuels including oil: $411.9 million (2.8%)
10. Miscellaneous food preparations: $406 million (2.8%)

Guatemala’s top 10 export product categories generated almost three-fifths (57.4%) of the overall value of its global shipments.

Mineral fuels including oil was the fastest grower among the top 10 export categories, up by 53.2% from 2023 to 2024.

In second place for improving export sales was sugar, including sugar confectionery, via an 18.2% advance.

Guatemala’s shipments of miscellaneous food preparations posted the third-fastest gain in value, up by 12.5%.

The leading decliner among Guatemala’s top 10 export categories was the animal or vegetable fats, oils and waxes grouping, thanks to its -31.3% drop year over year.

At the more granular four-digit Harmonized Tariff System code level, bananas and plantains represent Guatemala’s most valuable exported products at 7.9% of the country’s total. Close behind in second place was coffee (6.3%), trailed by sugar (5%), palm oil (3.7%), spices like cardamoms and nutmeg (3.4%), knitted or crocheted men’s t-shirts and vests (2.9%), medication mixes in dosage (2.8%), knitted or crocheted jerseys and pullovers (2.5%), melons, watermelons and papayas (1.8%), and knitted or crocheted women’s blouses or shirts (also 1.8%).

Products Generating Guatemala’s Largest Trade Surpluses

The following types of Guatemalan product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports reflect the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

1. Fruits, nuts: US$1.41 billion (Up by 0.1% since 2023)
2. Coffee, tea, spices: $1.38 billion (Up by 6.8%)
3. Knit or crochet clothing, accessories: $1.29 billion (Up by 6.3%)
4. Sugar, sugar confectionery: $781.6 million (Up by 20.7%)
5. Animal/vegetable fats, oils, waxes: $375.7 million (Down by -49.3%)
6. Vegetables: $278.9 million (Down by -15.7%)
7. Soaps, washing preparations, lubricants, waxes: $153 million (Up by 13.8%)
8. Live trees, plants, cut flowers: $105.8 million (Up by 1.6%)
9. Beverages, spirits, vinegar: $99.5 million (Up by 31.6%)
10. Knit or crochet fabric: $41.1 million (Up by 20.3%)

Guatemala has notably positive net exports in the international trade of bananas and melons, as well as coffee and the spice cardamom. In turn, these cashflows indicate Guatemala’s strong competitive advantages under the related product categories.

Products Causing Guatemala’s Worst Trade Deficits

Guatemala incurred an overall -US$17.9 billion trade deficit during 2024, expanding by 11% from the -$16.1 billion in red ink one year earlier in 2023.

Below are exports from Guatemala that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Guatemala’s goods trail Guatemalan importer spending on foreign products.

1. Mineral fuels including oil: -US$4.6 billion (Down by -4.7% since 2023)
2. Vehicles: -$2.8 billion (Up by 8.6%)
3. Electrical machinery, equipment: -$2.6 billion (Up by 12.2%)
4. Machinery including computers: -$2.4 billion (Up by 8.8%)
5. Plastics, plastic articles: -$1.1 billion (Up by 14.5%)
6. Iron, steel: -$917.5 million (Up by 4.1%)
7. Cereals: -$842.7 million (Up by 1.3%)
8. Pharmaceuticals: -$697.7 million (Up by 17.3%)
9. Miscellaneous food preparations: -$504.3 million (Up by 35.0%)
10. Organic chemicals: -$469.4 million (Up by 9.5%)

Guatemala has highly negative net exports and therefore deep international trade deficits for fossil fuels related products, historically refined petroleum oils, petroleum gases and coal.

These cashflow deficiencies clearly indicate Guatemala’s competitive disadvantages in the international fossil fuels-related market but also represent key opportunities for Guatemala to improve its position in the global economy through focused innovations particularly on alternative energy sources.

Guatemalan Export Companies

Wikipedia lists exporting businesses from Guatemala. Selected examples are shown below.

• Claro Americas (telecommunications)
• Corporación Multi Inversiones (agro-industrial conglomerate)
• Malher (food, beverages)
• Ron Zacapa Centenario (premium rum)
• Trama Textiles (hand-made woven goods)

 
In macroeconomic terms, Guatemala’s total exported goods represent 5.5% of its overall Gross Domestic Product for 2024 ($264.7 billion valued in Purchasing Power Parity US dollars). That 5.5% for exports to overall GDP in PPP for 2024 compares to 7% for 2023. Those percentages suggest a relatively decreasing reliance on products sold on international markets for Guatemala’s total economic performance, albeit based on a relatively short timeframe.

Another key indicator of a country’s economic performance is its unemployment rate. Guatemala’s unemployment rate averaged 3.57% in 2024, same an average 3.57% for 2023 according to metrics portal geographic.org.

Guatemala’s capital is Guatemala City.

See also Guatemala’s Top Trading Partners, Costa Rica’s Top 10 Exports, El Salvador’s Top 10 Exports and Belize’s Top 10 Exports, Dominican Republic’s Top 10 Exports and Cuba’s Top 10 Exports

Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on April 25, 2025

EXCHANGE-RATES.org Guatemalan Quetzal (GTQ) to US Dollar, Exchange Rate History. Accessed on April 25, 2025

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on April 25, 2025

International Trade Centre, Trade Map. Accessed on April 25, 2025

Investopedia, Net Exports Definition. Accessed on April 25, 2025

Wikipedia, Gross domestic product. Accessed on April 25, 2025

Wikipedia, List of Companies of Guatemala. Accessed on April 25, 2025

Wikipedia, Purchasing power parity. Accessed on April 25, 2025