Guatemala: Exports 2015 Neither Shameful Nor Glorious

Foreign sales recorded a slight decline of 0.5% at the end of 2015 compared to the same period in 2014, there were no major changes in the types of products exported and the main target markets.

Friday, February 5, 2016

Organizations such as the Inter-American Development Bank had already announced a "negative trade spiral" at the end of 2015 and part of 2016 in Latin America.

Guatemala failed to increase the value of its exports compared to 2014, registering a fall of 0.5% ($ 51.6 million) and there was no change in its products and market leaders: clothing being as the most important product, and the United States being the main destination for exports.

From a statement issued by the Bank of Guatemala:

The total amount of General Trade exports, in 2015, stood at $10,751.9 million, a decrease of $51.6 million (0.5%) compared to 2014 ($10,803.5 million).

The most important products, according to their share in total exports, were articles of clothing, with $1,325.7 million (12.3%), sugar, with $850.9 million (7.9%); bananas, $759.5 million (7.1%); coffee, with $663 million (6.2%) and edible fats and oils, with $361 million (3.4%); products that together accounted for 36.9% of the total.

The main destinations for exports in 2015 were the United States with $3,753.9 million (34.9%); Central America with $3,115.6 million (29%); the Eurozone, with $727.5 million (6.8%); Mexico, with $429.8 million (4%) and Panama, with $261.6 million (2.4%), countries and regions which together accounted for 77.1% of the total.

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