Exports Still Stagnating, but Could Rebound

Although Guatemala's foreign sales continue to decline, an improvement is expected towards the end of the year, which would be explained by a rebound in the prices of some agricultural products.

Monday, August 19, 2019

Figures from the Bank of Guatemala (Banguat) specify that in the first six months of the year sales abroad totaled $5,666 million, a figure that is just 0.3% lower than the $5,681 million reported in the same period of 2018.

The outlook in the coming months could improve, as there are signs of recovery of prices of some agricultural products. Sergio Recinos, president of Banguat, told Prensalibre.com that "... last week there had been a slight recovery in the price of international prices, especially coffee and sugar, and that this behavior would be closing the gap to positive for the second half of the year, but with a stable trend."

In the case of clothing, good numbers are reported, since exports up to June reached $725 million, 3% of what was reported in the first semester of 2018.

Alejandro Ceballos, president of the Wardrobe and Textile Commission (Vestex), said that "... the representative sector expects the best time of the year and the trend is positive. the industry is more active working orders to cover the second half of the year, which is the best season, for Black Thursday (liquidation season in the U.S.), which is in November and Christmas."

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Guatemala: Exports Continue to Decline

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In line with the decline reported since the beginning of the year, up to July, sales abroad totaled $6.455 billion, 3% less than what was recorded in the first seven months of 2017.

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U.S. Textile Purchases Rebound

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After a tough first semester 2012, which saw a significantly decline in orders from the main market of the Guatemalan textile industry, the recovery began in June.

According to an article in Prensalibre.com the manager of the Garment and Textile Committee (Vestex) of Agexport, Alejandro Ceballos, said that during the first five months of the year economic uncertainty in the U.S., high international prices of cotton, and problems caused by the implementation of the new Customs Act, meant that purchase orders steadily declined.

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