Guatemala: Projected Drop in Exports

The export sector dropped to 8% from 13.7% growth prospect for 2011.

Thursday, January 20, 2011

The Guatemalan Association of Exporters (Agexport) reported that the 14.8% increase in the minimum wage for the textile sector is the reason for the low growth prospect.

"Projections indicated a growth of 13.7% to 15.4%, representing $ 1.112 billion more to the projected end of the year $ 8.144 million. However, the estimates were reduced by 40.5% and now expected sales abroad to grow about 8% ($ 660 million)", Sigloxxi.com reported.



More on this topic

T-MEC: What to Expect in the Future?

December 2019

With the recent signing of the U.S.-Canadian-Mexican trade agreement, a precedent was set for future negotiations, as this agreement sets binding labor conditions, such as making exports subject to the payment of a minimum wage.

For example, one of the conditions of the Treaty between Mexico, United States and Canada (T-MEC), which was signed on December 10, 2019, is that vehicles exported from one state of Mexico to the other two countries "must come from plants that pay wages not less than $16 an hour.

Costa Rica: Minimum Wage Increased 0.67%

October 2015

From January 2016 an increase of 0.67% will apply to private sector wages of all categories included in the official decree.

The National Wages Council confirmed the government's proposal that the adjustment which will take effect from January 2016 is 0.67% for salaries of workers in the private sector.

Guatemala: Minimum Wage Increase Under Discussion

December 2012

The business sector proposes an increase of 2%, while employee representatives are asking for 47%.

The current minimum wage is Q62, 5 ($7.95) per day, for the export and maquila sectors and Q65 ($8.27) per day for agricultural and nonagricultural sectors.

The final debate is scheduled for tomorrow, December 7 and if a consensus can not reached, the President will make the final decision.

Minimum Wages Up 13% in Nicaragua

February 2011

As of February 28 an increase of 7% will be put in place, and another 6% during the second half of the year.

The increase was defined by a tripartite commission composed of government, unions and the private sector and it applies to the eight sectors of the economy.

"The National Minimum Wage Commission ratified the 8% salary increase for micro, small and medium enterprises (MSME)", states the article in Laprensa.com.ni.

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