Monday, December 11, 2023

Growth in Guatemalan exports with leaders’ clothes and coffee

Institutional statistics show a total export value of eight thousand 744 million dollars, of which the first production generated 917.1 million dollars for the country or 10.5 percent.

Coffee added 773.9 million (8.9 percent), edible fats and oils contributed 624.1 million (7.1), while bananas scored next with 588.2 million (6.7 percent), according to Banguat.

Sugar continues to contribute to these four (482.6 million, 5.5 percent), so they all represent 38.7 of the complete shipments abroad, explained the financial entity.

Among the most common destinations for this country’s exports, Central America stands out with two thousand 999.7 million dollars (34.3 percent), while the main trading partner, the United States, has two thousand 745.4 (31.4 percent).

Next is the European Union with 854.7 million dollars (9.8 percent), Mexico with 383.5 million dollars (4.4%), and Panama with 188.5 million dollars (2.2 percent).

Despite unfavorable foreign factors, Guatemala’s economy continued to grow in 2022, and the gross domestic product (GDP) reached four percent.

Exports closed at 15,684.2 million dollars, higher than 2,64.4 million; that is, 15.1 percent higher than in 2021 (13,619.8 million dollars).

Banguat, when presenting its Monetary Policy Report in March 2023, maintained the GDP growth estimate in the range of 2.5 to 4.5 for the current period.

It remains to be seen, according to analysts, the further impact of road blockades starting on October 2 due to corruption and the actions of the Public Ministry (MP).

World Nation News Desk
World Nation News Desk
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