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.
As of May 2017, fishing and carton production recorded sales of nearly double in relation to what was observed in 2016, and they are still growing at rates of 10% and 40% respectively.
The Foreign Trade report by the Central Bank of Nicaragua states that"fishing and cardboard production recorded sales of almost double in relation to what was observed in 2016 and continue to grow at rates of 10.4 percent and 40.2 percent, respectively."
Mangosteen, pitahaya, guanabana, passion fruit, uchuva, ipecacuana, pejibaye and carambola are some of the agricultural products with potential to export to markets such as Europe and America.
From a report by Procomer of Costa Rica entitled "Opportunities for commercialization of incipient agricultural products":
PROCOMER has carried out an analysis of agricultural products that have possibilities for production and expansion at the national and international level, but whose exports are few or none at all.Through the support of PROCOMER's Trade Promotion Offices, state agencies and research centers, 8 products with the highest potential for international marketing were selected: Mangosteen, pitahaya, guanabana, passion fruit, uchuva, ipecac, pejibaye and carambola.
New consumption habits in developed markets are creating new opportunities for fruits such as mangosteen, dragon fruit, soursop, passion fruit, gooseberry, ipecac, pejibaye and starfruit.
From a report by PROCOMER, Costa Rica entitled "Emerging opportunities in sales of agricultural products"
Tariff preferences were negotiated in non-traditional products in sectors related to metalworking, appliances, construction, wood, plastics and agribusiness.
From a statement issued by the Ministry of Foreign Trade in Ecuador:
The deputy minister of Foreign Trade, Alejandro Dávalos, opened the Second Round of Trade Negotiations with Honduras for the signing of a Partial Agreement of Economic Complementation.
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.
The Chinese tariff for unroasted coffee dropped from 50% to 8%, medicines decreased from 30% to 4%, fishmeal from 11% to 2% and plastics, from 50% to 6.5%.
From a statement issued by the Ministry of Economy of El Salvador:
The Ministry of Economy held an event with the aim of publicizing new business opportunities that have emerged in the mainland market, after El Salvador decided to raise the tariff reserve in place since 2001 on products of Chinese origin.
Processed foods, fuels, pharmaceuticals and chemicals are some of the nontraditional exports which grew by 7% in the first nine months of the year compared with the same period in 2013.
From a statement issued by the Guatemalan Exporters Association (Agexport):
In September 2014, Guatemala's total exports reported an increase of 7% compared to the same date in 2013.
Companies participating in the SIAL show in Paris made purchase offer deals worth more than $1 million and generated new markets in Europe and South America for products such as chia, crackers and organic cocoa.
The event was attended by a delegation of 12 member from companies in the Association of Producers and Exporters of Nicaragua (APEN), and succeeded in opening new markets for non-traditional products and increase their knowledge of the European market for future business deals.
Between January and August 2014 sales to Guatemala and Honduras rose by 6.4% and 4.6%, respectively, compared to the same period last year.
In the first eight months of the year total exports from Costa Rica amounted to $7,842.5 million, just 1.77% more than in the same period last year. Sales to Central America increased by 0.1%, while Guatemala and Honduras were the destinations which reported the highest growth.
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.