Hardware Industry with Good Figures

In Guatemala, the hardware industry is expecting its sales to grow 20% this year, mainly explained by the good performance it has reported so far in 2019.

Friday, November 8, 2019

According to projections of the Banco de Guatemala (Banguat), updated to September 2019, it is forecast that at the close of this year the construction sector will grow by 5.8%, a rise that would be explained by more flexible procedures in the processing of permits.

See "Hardware Stores: Business in Central America"

Juan Carlos Castaneda, director of Banguat's Economic Research Department, explained to Elperiodico.com.gt that "... construction would be closing at 5.8 percent, according to the September review, and would occupy first place among the 11 productive sectors. The sector did not have this growth since 2011, which is a consequence of the construction authorized and carried out."

The construction dynamism has been reflected in the sales of hardware stores in the country.

In this regard, Arturo Clark, director of Ferretexpo, told Prensalibre.com that "... the sale of hardware products is growing at a 20% rate. From a nail to more specialized products in construction are registering higher sales this year."

You may be interested in "Construction: New Investments in the Region"

Clark added that "... the level of commercialization of these hardware goods is in tune with the construction activity, which according to the statistical newsletter presented this week by the Guatemalan Chamber of Construction (CGC), the activity could reach 6% this year."

According to Clark, the rise in the construction sector is driven by the construction of new housing, maintenance in homes and a greater income from family remittances that last October reached $1 billion.

See Elperiodico.com.gt article "Construction sector exceeds growth expectations" and Prensalibre.com.gt article "Why hardware materials increased sales by 20% in Guatemala" (in Spanish).

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More on this topic

Exports Still Stagnating, but Could Rebound

August 2019

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.

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.

Guatemala: Growth Projections Improve

February 2019

The behavior of credit to the private sector, public spending, imports and remittances would explain the higher growth expected for the economy this year.

The Bank of Guatemala (Banguat) reported that this year's economic growth is projected to range between 3% and 3.8%, with a central value of 3.4%, up from the 3.1% reported during 2018.

Guatemala: 2019 Better Than 2018?

December 2018

The Bank of Guatemala expects next year's economic growth to be better than in 2018, which would be caused by higher public spending and the growth of family remittances.

Authorities of the Bank of Guatemala (Banguat) informed that the Guatemalan economy will close 2018 with a nearly 3% growth, however, for next year is expected that the increase in GDP will be in the range between 3% and 3.8%.

Guatemala: Economy to Grow between 3% and 3.8%

May 2018

Explained by the dynamics of economic activity and the flow of family remittances, the Central Bank estimates that this year the economy will grow between 3% and 3.8%.

According to the authorities at Banco de Guatemala (Banguat), by 2019 the expectation is that the economy will grow between 3.1% and 4.1%, and in relation to inflation for this year and next, it is expected that the Growth rate will remain close to 4%.

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HEACSA

Represent multinational companies and trading products and services for Industry-Constrution distributing them for hardware stores, homecenters, stores and supermarkets.
Operates in El Salvador
Phone: ((503)) 2221 9000

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