After decreases were reported in 2015 and 2016, last year the country raised $11 billion in sales abroad, 5% more than in 2016.
In 2017, sales abroad improved significantly compared to the previous year, rising from $10.449 billion in 2016 to $11 billion in 2017, which represents an increase of 5.3%.
The president of the Bank of Guatemala (Banguat), Sergio Recinos, explained to Elperiodico.com.gt that "... the recovery is associated with improvements in products such as clothing, cardamom, bananas, coffee, fats and oils, iron and oils, rubber, cereals, paper manufactures, petrol and aluminum, among other things."
According to projections by the export sector, last year about $11.2 billion will have been sold abroad, an amount that could exceed by 7% what was exported in 2016.
From a statement issued by Agexport:
Guatemala to register an increase in its exports of US $743 million
The Guatemalan export sector will close 2017 with good news, as following two years of decline exports of Guatemalan products and services will generate foreign currency worth an estimated US $11,208.3 million this year.The growth rate is 7.1% higher than the 2016 figure (projection based ondata from October), this is a record number in the history of Guatemalan exports.
Between January and August 2017 exports totaled $3,851 million, 6% more than in the same period in 2016, mainly explained by sugar exports.
From a statement issued by the Central Reserve Bank:
El Salvador's exports amounted to US $3,850.6 million up to August 2017, growing at a rate of 5.7% (US $208.5 million more) compared to the same month in the previous year, the Central Reserve Bank reported.In August alone, exports grew by 8.6%.
Holland was the country that bought the most goods sold by Guatemala to the European Union between January and September, which totaled $684.76 million, 17% more than in the same period in 2013.
The goods most exported to the European Union (EU) are textiles, nickel, vegetables and coffee, with the main destinations being the Netherlands which recorded purchases of $219 million, followed by Belgium with $86 million, Germany with $79.5 million and Spain with $78.6 in the first nine months of the year.
80% of the volume exported by the Honduran maquila sector in the first half of 2014 corresponds to textiles, 15% to harnesses, and the remaining 5% to other goods.
A report by the Central Bank of Honduras (BCH) specifies that when comparing the figure for the first half of this year with the same period of 2013, "... A slight increase of $8.2 million is observed. "
Guatemalan bananas have recovered ground lost in recent years in the international market.
In 2013 banana sales abroad generated revenues of $623 million, up 25% compared to those reported in 2012, when $499 million was received for this item.
"The commercial record indicates that in the last 10 years, exports have registered an increase of 197%, going from $209.9 million in 2003 to $623 million last year."
Guatemala exports to South Korea and China have increased by 185% and 382%, respectively.
Details from the Guatemalan Association of Exporters (Agexport) show that South Korea and China are the two Asian countries with the most products sales from the Central American nation, with honey, sugar and shrimp being the main exports.
" ... Over the past year the value of products shipped to South Korea totaled $151.5 million, while in 2012 $53 million was sold, representing an increase of 185.5 %," said Estuardo Castillo, president of Agexport.
An increase in non- traditional exports offset the fall in foreign sales of traditional products.
According to the report entitled "Trends in Foreign Trade in 2013 in El Salvador" prepared by the Ministry of Economy (Minec) exports in 2013 totaled $5.491 billion, an increase of 2.8 % compared to 2012, when the total figure was $5.339 billion .
$3.908 billion worth of non-traditional products were exported last year, while in 2012 the figure was $3.765 billion. Exports of traditional products were down $42 million, totaling $424.9 million in 2013.
The sale of synthetic fibers increased by 133% between November 2012 and March 2013.
Statsistics from the Central Reserve Bank (BCR) reveal that between November 2012 and March 2013, exports of synthetic fibers to Europe increased from $1.4 million to $3.4 million, which is 133%.
"In other categories, food products such as honey increased sales by 29.8%, going from $4.3 million to $5.6 million."
Over 160 thousand tons have been sold, but at lower prices than in the previous harvest.
During the 2012-13 harvest, the sugar industry exported 400 thousand tons of grain, 160 thousand tons more than in the previous one. However, the value of sales did not behave the same as the volume exported, because revenues were between $210 million and $220 million, similar to the amount in the last harvest.
Sugar, coffee, fishmeal, plastics and paper products are the best selling products to the Asian island.
According to the Taiwanese Embassy in El Salvador during the first 11 months of 2013, exports from the Central American nation to Asian countries grew by 576 %. Among the products that are exported to Taiwan are sugar, coffee, fish meal, paper, cardboard, plastics.
Up until October maquila exports totaled $954 million, which represents 20.4% of total exports during that period.
According to the International Trade Report presented by the Ministry of Economy (Minec), Salvadoran exports are driven primarily by the maquila sector, specifically high value added garments as well as non-traditional products.
Carlos Moreno, director of trade policy at the Minec said that exports in the first ten months of this year rose by 3.6% totaling $4.6659 billion.
During the first ten months of 2013 the difference between imports and exports grew by 8.5%, reaching $4.4142 billion.
From a press release issued by the Central Reserve Bank of El Salvador:
Salvadoran exports up to October 2013 amounted to $4.6659 billion, an increase of $161.7 million compared to the same period in 2012, showing a growth rate of 3.6% a year, according to the Department of Studies and Economic Statistics at the Central Reserve Bank of El Salvador.
At the end of the current crop, coffee exports in Latin America, excluding Brazil, totaled 29.3 million bags of 60 kilos.
The figures, provided by Anacafé exports include Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, the Dominican Republic, Colombia and Peru.
"Colombia had the best sales, registering an increase of 21.16% compared to the previous harvest.
Exports in 2012 were $488.7 million, whereas in 2011 sales totaled $158.8 million.
With the signing of the trade agreement between Central America and the European Union figures are expected to increase further. 13.5% of Panamanian exports are destined for a European country and are surpassed only by South Korea and the U.S.