Guatemalan Exports Up 27%

The country sold $4,578 million worth of goods abroad in the first 5 months of the year, 26.8% more than in the same period in 2010.

Friday, July 8, 2011

According to officials from the Bank of Guatemala, the increase is mainly explained by the increase in the price of commodities, especially sugar, bananas, coffee and cardamom oil.

In general, higher export volumes were also reported, sugar being the main exception, due to lower production.

Among trading partners, the United States remained in the lead with a total of $1,825 million and a rise of 31% compared to the first 5 months of 2010, while Central America bought $1,124 million worth, 21% more than in 2010.

Among the major export destinations, the only one who experienced a decline was Mexico, where $189 million worth was sold, down 11%.

Details of the main items:

Traditional Exports
Coffee: U.S. $638.2 million (+62.6%)
Sugar: U.S. $392 million (-9.6%)
Banana: U.S. $206 million (+34.3%)
Cardamom: U.S. $170.6 million (+38%)
Oil: U.S. $132.3 million (+34.6%)

Non-Traditional Exports
Clothing: U.S. $ 504.6 million (+9.9%)
Minerals: U.S. $ 312.6 million (+73.7%)
Fruits and preparations: U.S. $ 205.5 million (+18%)
Rubber U.S. $ 149 million (+97.5%)
Food products: U.S. $ 148.4 million (+43.2%)

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Guatemalan Exports Rising

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Foreign sales grew by 28% in the first quarter compared to the same period of 2010.

The high prices of commodities in international markets is one reason behind the increase in exports in Guatemala.

In total, the country exported more than $2700 million in the first three months of the year.

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In the month of September $ 6,284 million were exported, 16% higher than the same period of 2009.

The items which determined the increase are oil, sugar, cardamom, bananas and coffee.

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