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.
In the first quarter of this year, exports of pineapple, manufactured leather and timber goods recorded increases of over 200% compared to the same period in 2016.
Pineapples, fresh oranges, leather goods, timber, cocoa, scrap metal, confectionery and pharmaceutical products are some of the export items which recorded significant increases compared to the first quarter of 2016.
Between 2007 and 2014 Guatemalan exports to Chile grew by 15%, led by sales of sugar, equivalent to 70% of the total, followed by natural rubber, paints, varnishes and prepared foods.
In total exports from Guatemala to Chile increased from $43.4 million in 2007 to $112.7 million in 2014. Sugar reported an annual growth rate of 13%, reaching $79 million in exports in 2014.
Exporters of farmed shrimp, tilapia, melons, Asian vegetables, pineapple, grapefruit, banana and cocoa are negotiating the entry of products into the European market.
The United States is the main market due to its proximity, but with new technologies for food preservation, lengthening their lifespans by up to four weeks, it is expected that more distant markets will be reached.
Although there is a market in the EU for Nicaraguan non-traditional products, producers face tough requirements and controls in order to conquer it.
In 2013 the trade component of the Association Agreement with the European Union will come into effect, which will liberalize most of the Central American export goods.
According to the Center for Nicaraguan Exports (CETREX) this represents an opportunity, particularly for products such as cocoa, sesame, fresh fruit, natural honey, okra, pineapple and herbs and spices, goods whose production has not yet been consolidated in the country.
In the past three years exports of nontraditional products have seen an increase of $900 million.
The head of the ministry of economy, Armando Flores, on the occasion of the presentation of the Accountability Report noted that in the last year alone the increase has been $290 million.
Meanwhile foreign sales of traditional products in the last three years increased by $1 million.
An increase of 24 cents per box for freight expenses has sent costs for shrimp producers in Honduras soaring.
An increase of 24 cents per kilometer for each box transported, approved by a legislative decree recently, will seriously impact the competitiveness of Honduran shrimp producers with respect to other regional countries, signaled
employers in the sector.
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.
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.
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. In the case of traditional products such as sugar, bananas, coffee and cardamom, the increase was 33%, making total sales more than $954.9 million.
In the first five months of the year, Honduran exports of non-traditional products totaled $575 million.
According to the Honduran Central Bank's Foreign Trade Report, sales of non-traditional products totaled $1.27 billion in the period.
The general manager of the country's Federation of Agricultural Exporters (FPX) told Laprensa.hn that, "it's good news because it's important for Honduras to export more non-traditional products than coffee and bananas since prices of these fluctuate and non-traditional industries have historically had a buffering effect. However it is hoped that these products can increasingly take a more central role".
Exports of nontraditional products are growing at a faster pace than exports of traditional ones (coffee, banana, cardamom and sugar).
In 2009 total exports summed $7.23 billion. Of them, $5.41 billion corresponded to nontraditional goods (74.9%).
“Data from Banguat shows that in 1980 the country exported $1.52 billion, of which $633 million were traditional goods and $886.4 million were nontraditional ones (58.3%)”, reported Sigloxxi.com.
Honduras exported $2.32 billion in 2009; 55.7% corresponded to non traditional exports.
According to data from the Central Bank of Honduras (BCH), the remaining $1.29 billion correspond to products classified as 'traditional' (coffee and banana, for example).
"The drop recorded in coffee, banana, wood, lobsters, zinc, silver and lead was compensated with increases in gold, cultivated shrimp, melons and cigarettes", reported Laprensa.hn.
Ethnic beverages, tiger nut milk and barley will now pay a 9% tariff when entering the United States.
Until last year, these products entered the country tariff-free.
"The Department of Internal Security analyzed the products and removed the tariff exoneration, arguing they are in the category of powder drinks with more than 29% sugar. They also warned to retroactively charge the tariff beginning 2007", reports Elsalvador.com.