Drop in consumption causes economy of Guatemala to contract

According to statistics from the Tax Bureau the drop in domestic consumption has become especially acute starting in the month of April.

Monday, September 22, 2008

The drop in consumption started in Guatemala in middle of 2007, before macro-economic indicators warned of the crisis. Home consumption, which provides 85% of the Gross Domestic Product (GDP) has been reduced due to the loss of purchasing power due to high food and fuel prices which have had their highest increase in the last 30 years.

More on this topic

Real GDP Drops 4.9% in Costa Rica

July 2009

In the first quarter the GDP showed a 4.9% interannual contraction, the second consecutive period of slowdown.

In quarterly terms, the GDP fell for the fourth consecutive period, representing a contraction of 1.1% in the first three months of 2009.

The fall in GDP in the first quarter was a consequence of the weakening in the category of capital investment, which fell 38.8% with respect to the same period last year.

Guatemala: From April to June, GDP Grew 4.3%

October 2013

For the second quarter of 2013, economic activity as measured by the estimated real level of GDP grew by almost twice that of the same period last year ..

A report on the estimate of quarterly GDP, for the second quarter of 2013 has been published by the Bank of Guatemala:

Panama: Change in Base for Calculating GDP

February 2014

Starting this year, the base year for calculating the gross domestic product of Panama will be 2007.

Sources from the Comptroller General of the Republic and the Ministry of Economy and Finance (MEF) confirmed that from 2013, the base year for calculating the economic growth will increase from 1996, which has been used until now, to 2007.

Guatemalan Economy Still Growing

July 2011

In the first three months of the year the Gross Domestic Product (GDP) grew more than 3%.

Activity in the mining industry and an increase in lending by banks account for most of the 3.1% growth in Guatemala’s gross domestic product.

On the other hand, the construction and power supply sectors showed contractions, according to data presented by the Central Bank of Guatemala (Banguat).

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