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Guatemala Imports 12.7% Less From Brazil

In 2009, Guatemala imported $279 million, 12.7% less than in 2008, when it bought $320 million.

Monday, February 8, 2010

The auto industry was the worst-hit, with a 64% reduction: from $31.9 million in 2007 to $11.2 million in 2009.

From newspaper Elperiodico.com.gt: “José Javier Casas, vice president of the Vehicle Importers Association, explained they have reacted to the appreciation of Brazil’s currency, the Real. ‘Now we can only afford to import a few cards, as their prices are too high’, he said”.

Source: elperiodico.com.gt

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Key entities

Bank of Guatemala

Countries

Guatemala Brazil

Insight

imports imports decline Exports & imports

Central American External Trade down 20% in 2009

January 2010

Honduras was the worst-hit (-26.15%), while Nicaragua the least (-16.06%).

Data from Sieca shows that Central America exported 10% less to the rest of the world in 2009 than in 2008. Imports fell even more, 24.3% when compared to 2008.

In El Salvador, trade with the rest of the world contracted 20.18%, in Costa Rica 18.9% and in Guatemala 17.99%.

Central America Trades Less with the World

September 2009

For the first half of the year, regional exports dropped 13.5% while imports diminished 28.9%.

From January to June 2009, the region exported $1.54 billion, 13.5% less than the same period of 2008, and it imported $6.84 billion, 28.9% less than in 2008.

While trade between countries of the region didn't drop, it slowed down, going from growth rates of 25.2% to 16%.

Red Figures in Guatemalan Trade

August 2009

In the first half of the year, exports were down 6.9% and imports dropped 28% when compared to the same period of 2008.

According to data by the Central Bank of Guatemala (Banguat), exports totaled $3.714 million while imports summed $5.386 million.

From website Prensalibre.com: "Rubén Morales, Economy Minister, said that, in the light of this situation, they will foster exports with more trade missions to countries where Guatemala has free trade agreements".

Guatemala: Imports and Exports Decrease

April 2009

Through February 2009, the amount of imports and exports was 25.7% and 1.5% lower than for the same period last year, respectively.

The data disclosed by the Bank of Guatemala in February 2009 indicated that there were $1.217 billion exported and $1.726 billion imported.