Construction Industry Lagging in Guatemala

The construction sector is expected to fall between 11% and 12% this year, relative to GDP.

Wednesday, October 20, 2010

Directors of the Guatemalan Chamber of Construction (GCC) do not agree with the projections of the Bank of Guatemala which show a 7.5% drop.

"According to the Central Bank, 2009 ended with a decline of 13.4% and while the projection for this year had been somewhat more encouraging (7.5%), the president of CGC, Jorge Montenegro, estimates that economic conditions have caused this productive sector to not generate much wealth. If the trend continues, the fall will be greater than expected," published

More on this topic

Guatemala: Construction Falls 4.7% in First Quarter

August 2012

Some of the causes mentioned are the low implementation of works by the State and municipalities, reluctance to invest remittances and fiscal reforms that discourage investment.

An article in reports that Oscar Sequeira, president of the Statistical Commission of the Guatemalan Chamber of Construction (CGC), said "The new administration generated positive expectations which led to dynamism in the sector, but as time passed by it has gone down, especially after the tax reform."

Guatemalan Construction Continues to Struggle

August 2010

Guatemalan Chamber of Construction (CGC) representatives can see no signs of recovery this year.

Jorge Montenegro, CGC president, told a press conference that, “May had the lowest index of construction activity yet, down 21.1%”.

Montenegro also mentioned that 172,165 jobs were lost in the sector between 2007 and 2009.

Guatemala: Construction Down by 69%

April 2009

In the first quarter, the municipality of the capital city approved the construction of 243,010 square meters, 69.15% less than during the same period in 2008.

According to a report by the Congressional Committee on the Economy, there were 787,777 meters approved during the first four months of 2008.

One Third of Salvadoran Construction Firms Without Work

March 2009

The prospects of the construction sector for this year are a 4% decrease.

Ismael Nolasco, executive director of the Salvadoran Construction Industry Chamber (CASALCO) informed "There are no closed businesses, but 30% of them just pay taxes and services and go to the office because there is no work; sector outlook for this year is that there will be a 4% decrease and this estimate translates into businesses closing."

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