The cause is a contraction in consumption in major markets for Guatemalan exports, mainly sugar, coffee and rubber.
This is mainly due to international market stagnation and decline in prices of commodities such as sugar and coffee. "Among these markets is the U.S., the country's main trading partner. According to statistics from the Bank of Guatemala, during the first three months of the year $1.016 billion was exported to this country, showing a decrease of 2.4% compared to the $1.041 billion recorded last year, ie a loss of $24.5 million," noted an article in Elperiodico.gt.
Since the entry into force in 2006 of the DR-CAFTA, the tip in favor of the U.S. in the trade balance has multiplied by 5.
"The Central America to which President Barack Obama is coming to visit on on Friday is a region that maintains multiple communication vessels with the United States, including a growing trade relationship which in 2012 amounted to $40 billion, although very much in favor of the American power," reported Prensa.com.
Before the end of April, the Philippines will be sending its first shipment of three thousand tons of Cavendish bananas to the United States.
From an article by the Costa Rican Trade Promotion Office (PROCOMER):
The Philippine government said on Monday that the first shipment of 3,000 tons of Cavendish bananas bound for the United States will finally be sent before the end of April.
In the first three months of this year, Guatemala exported 849.77 million dollars worth of goods to the United States, an 11.71 per cent increase over the same period of 2007, despite the prospect of a slowdown in the U.S. economy.
However, as the experts predicted, not all products shared in the growth. Some, like agricultural products, did well and others, like manufacturing, did poorly.