Standard users can export data in a easy to use web interface or using an excel add-in. The U.S. services trade surplus with Guatemala was $388 million in 2019. Guatemala Imports at 2928.80 USD Million. Other trading partners include Mexico, China, Honduras, El Salvador, Nicaragua, Canada, and Panama. We have put together this guide to help you understand your potential new market. Understanding customs duties for Guatemala will be crucial for you in deciding whether to enter the market or not. Guatemala currently has no operational rail network, with routes mainly taken out of use in the 1990s and 2000s. Guatemala's total exports are estimated to have declined from $7.848 billion in 2008 to $6.768 billion in 2009, while its imports are estimated to be down from $13.42 billion in 2008 to $10.91 billion in 2009. Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption . If you are an exporter of yarn, textiles, or apparel goods, there are significant opportunities; nearly all are duty-free and quota-free if they satisfy the rules of origin. Encouragingly, 98% of U.S. agricultural products already have zero tariffs. Guatemala imports 2019 and 2018 shows the same (approx.) Get the latest news on the freight industry and the latin american import/export market. Interestingly, up to 730km of waterways are navigable during the high-water season, but these represent a minimal share of transportation. Imports 2928.80: 2729.10: 2928.80: 0.00: USD Million: Capital Flows 667.50: 79.20: 731.30-1423.30: USD Million: Remittances . Coffee is the most major export and commercial export. The exports of vegetables, fresh fruits, cut flowers, and seafoods are of increasing importance. Tariff-Rate Quotas (TRQs) apply to 12 products, including rough rice, white rice, beef, ice cream, milk, white corn, butter, cheese, and other dairy products. Labeling is required and imported food products are marketed in Guatemala with a Spanish-language label in accordance with the food law. Be aware that the road network in Guatemala is a tale of two halves. The top import categories (2-digit HS) in 2019 were: edible fruit & nuts (bananas, plantains) ($1.2 billion), knit apparel ($1.2 billion), coffee, tea & spice (coffee) ($332 million), woven apparel ($262 million), and vegetables (leguminous) ($213 million). Guatemala mainly exports coffee and clothes, each representing 12 percent of total exports. The top export categories (2-digit HS) in 2019 were: mineral fuels ($2.4 billion), special other (medicinal and pharmaceutical) ($632 million), machinery ($443 million), cereals (corn) ($352 million), and electrical machinery ($345 million). Dr. Anas F. Alhajji is a Managing Partner of Energy Outlook Advisors and was previously the Chief Economist at NGP Energy Capital Management. The two biggest seaports in trade volume are Santo Toms de Castilla on the Atlantic coast and Puerto Quetzal on the Pacific Coast. You will need to be aware of quotas on certain agricultural products. Post's current projection for total barley imports for MY 2022/23 is 4.5 MMT, which is a decrease of four percent compared to the USDA official estimate of . Guatemala exports for 2021 was $15.90B, a 21.27% increase from 2020. VGM: SAT 15:00. Latin American Cargo has extensive knowledge and experience in Guatemalas business culture and customs processes. [br] The enforcement of this treaty on July 1, 2006, led to the elimination of customs tariffs on several categories of goods, opening up of services and defining of clear rules in various areas of business. More Companies Shipping to Latin America for Trade Shows in Brazil through Latin Ameri Also, it is interesting to observe that by neighboring Mexico, Guatemala has ready access to a large, diverse market. He has worked as a consultant for international organisations such as the Inter-American Development Bank (IDB), the World Bank, the Organization of American States, and the United Nations, in addition to being a researcher at the Universidad Torcuato Di Tella. The major exports are chemical products and coffee, followed by sugar, bananas, crude petroleum, and cardamom. U.S. imports of services from Guatemala were an estimated $1.3 billion in 2019, 7.1% ($83 million) more than 2018, and 65.1% greater than 2009 levels. Does Japans Democracy Have Room for Women and Children? Some of her best-known work includes educational content related to finance and economics. Investing is speculative. Services exports were $1.6 billion; services imports were $1.3 billion. Amy Griffin enjoys writing about social media, other marketing strategies, and finance. Guatemala Exports to United States. Adjunct professor at Georgetown University. In relation to air freight, Guatemalas capital, Guatemala City has the main airport for cargo. The share of commodity group 1806 in total imports to Guatemala increased by 0.007 p.p. U.S. goods exports to Guatemala in 2019 were $6.8 billion, up 2.6% ($172 million) from 2018 and up 75.8% from 2009. Get import and export customs regulation before travelling to Guatemala. You also have the option to opt-out of these cookies. The average applied rate on all products is approximately 2.4 percent. In 2019, Guatemala GDP was an estimated $81.3 billion (current market exchange rates); real GDP was up by an estimated 3.6%; and the population was 18 million. Services exports were $1.6 billion; services imports were $1.3 billion. You will need to be aware of: Restrictions on imports into Guatemala are generally not as extensive as in other Latin American countries, but there are several key ones: Before embarking on any business ventures, check with a customs broker that your goods are allowed to be imported into Guatemala. shrink-wrapped or other effective means), or 3) the closed means of conveyance . The rules are the same across Central America, but they are implemented differently. Located on the Atlantic Coast, Santo Tomas de Castilla is the principal port of Guatemala and the biggestcontainer terminalin the country. Guatemala Imports at 2928.80 USD Million. Guatemala's main imports are oil, capital goods and consumer goods. Fresh fruits and vegetables are one of Guatemala's most important exports. Export. hand stamp or computer-generated sticker) to 1) each outside container within a consignment, 2) a securely enclosed pallet or pallets within the consignment (e.g. accounted for 0.004% of total import flow to Guatemala (in 2020, total imports to Guatemala amounted to $ 18.1 billion). There is no information on the distribution of Guatemala FDI in the U.S. Proud member of some of the most prestigious associations in the industry. There were no sales of services in the United States by majority Guatemala owned firms in 2017. Stickers can be used but must not block the front of the package, the ingredients list, or preparation instructions. Pseudoephedrine and any products containing pseudoephedrine are banned from importation or sale within Guatemala as of . The average applied rate on all products is approximately 2.4%. (source: US Census bureau- foreign trade statistics). In 2020, Guatemala exported a total of $12.2B, making it the number 81 exporter in the world. Spanish-language labeling is required for imported food products. It is the largest economy in Central America and one of the most stable in Latin America. Retaining the services of Latin American Cargo constitutes your acceptance of these trading conditions. Guatemala is Central Americas largest economy. New key road infrastructure projects are coming online regularly, including plans for a new highway to connect San Bernardino, Mazatenango, and Cuyotenango. These inflows are a primary source of foreign income, equivalent to nearly two-thirds of exports. Guatemala. The U.S. goods and services trade surplus with Guatemala was $3.2 billion in 2019. There have, however, been recent improvements to the process, including a 48-hours on-bond release and valuation analysis after importation. The Historical Dictionary of Guatemala contains a chronology, an introduction, and an extensive bibliography. eggs) ($132 million), and cotton ($87 million). Any remaining industrial goods and most agricultural products have tariffs of 15% or below. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Others include: Mexico, China, and Central America. Guatemalas trade relations with the US and the other Central American nations have improved significantly, following the ratification of the US Central America free trade Agreement or CAFTA in 2005. Meanwhile, if you are looking to export chemicals used in agriculture, you will need to consult with the Technical Directorate of Plant Health of MAGA. The U.S. goods trade surplus with Guatemala was $2.8 billion in 2019, a 16.1% increase ($392 million) over 2018. U.S. exports of services to Guatemala were an estimated $1.6 billion in 2019, 3.4% ($58 million) less than 2018, but 44.6% greater than 2009 levels. WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Guatemala Import Data. guatemala applies the common external tariff schedule of the central american common market (cacm), which ranges from zero to 15 percent for most agricultural and industrial goods, though there are exceptions of up to 40 percent for alcoholic beverages and up to 20 percent for cigarettes with tobacco content, various types of vehicles, and Comparing values of both the years, Guatemala imports received a downfall by a percentile of only 1% ($225.9 Million). guatemala applies the common external tariff schedule of the central american common market (cacm), which ranges from zero to 15 percent for most agricultural and industrial goods, though there are exceptions of up to 40 percent for alcoholic beverages and up to 20 percent for cigarettes with tobacco content, various types of vehicles, and U.S. total imports of agricultural products from Guatemala totaled $2.1 billion in 2019, our 19th largest supplier of agricultural imports. Japan follows as the second export market for Guatemala, holding 16 percent of the market share, with steady growth over the past 4 years. . We also use third-party cookies that help us analyze and understand how you use this website. A gifted communicator, strategist, writer and avid blogger, Andrea is Managing Director of SAJE, a digital communications agency, and The Writers Shop a regional collaboration between the best business writers in Asia Pacific, Copyright Economywatch.com. Capacity concerns are prompting investments in new and existing ports. Goods exports totaled $6.8 billion; goods imports totaled $4.0 billion. A contraction in export demand from the US and other Central American nations, due to economic crisis of 2007-09, has had a negative impact on Guatemalas economy. This category only includes cookies that ensures basic functionalities and security features of the website. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs. All Rights Reserved. White label accounts can distribute our data. All food imports require product registration by the Ministry of Public Health and Social Assistance (MSPAS). More detail about U.S. imports is available in this. NOTE: USDA Export Mark: Exporters may apply the FSIS-issued USDA export mark (e.g. The United States is the key Guatemala trade partner, in both exports and imports. Items allowed to import are Goods for personal use, including the following. The Central American country is located in the south of Mexico. Currently, it is focusing on urban planning, smart cities, modernizing ports and airports, and building new highways. Sea, air, and road are the key means of transportation to, from, and within Guatemala. Text your zip code to 438829 (GETVAX) in English or 822862 (VACUNA) in Spanish, On August 5, 2004, the United States signed the. Guatemala Imports By Country Value Year; . There are technical regulations for packaging and labeling liquors and spirits, approved additives, infant food, sanitary license, and registration of products. (Source: IMF). He was in charge of the firms macro-analysis of the oil, natural gas, and associated markets, as well as the general economy. Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR). The share of commodity group 1206 in total imports to Guatemala decreased by 0 p.p. Urban congestion can, however, frustrate travel in and around the city. Argentinas Energy Secretary in 2002, and subsequently its World Bank representative. Under CAFTA-DR, about 5,263 of a total 6,307 HS codes for U.S. industrial and consumer goods enter Guatemala duty-free, with the remaining 1,044 tariffs scheduled to be phased-out by 2026. Guatemala's Largest Import Suppliers Certificate of Origin for Sanitary Purposes: Fresh plant food products a plant health certificate (phytosanitary certificate) issued by, Fresh or processed meat products a sanitary certificate issued in the U.S. by the, Seafood a National Oceanographic and Atmospheric Agency, Non-meat processed food products a State-Issued Certificate of Free Sale or, Import permits for processed meat and associated products from the. Depending on your product, there may be extra documentation requirements. Key sectors for opportunity include infrastructure, transport, and power generation, with Guatemala being the leading electricity exporter in Central America. Accusations from the SAT towards importers allegedly under-declaring the value of their products. Imports of Goods and Services 2017: 149,254,100,000: 143,310,900,000: NCU: Annual: Real Exports . Latin American Cargo (LAC) is an international freight forwarding company that has been providing specialized cargo shipping services and logistics solutions by ground, ocean and air, for over 20 years. Annual International Trade Statistics by Country (HS02) But opting out of some of these cookies may have an effect on your browsing experience. The CAFTA-DR entered into force for the Dominican Republic on March 1, 2007, and for Costa Rica on January 1, 2009. Under the Agreement, the Parties significantly liberalizes trade in goods and services. Its service excellence philosophy places LAC amongst the very best international logistics companies helping exporters and importers when shipping to and from Canada, USA, Mexico, Central America, South America and the Caribbean. Re-Export Certificate if the product is re-exported from the country. Guatemala's exports visibly improved since the country's entry in the Free Trade Area of the Americas in 2004. Ship Age NFT - The Next Big NFT To Explode With 100x Returns, 10,000 Exclusive NFTs Available | 30 MATIC Each, Employer Insurance Premium Growth Still a Problem. compared to 2019 (it was 0.003% in 2019 and cumulative imports to Guatemala were equal to $ 19.8 billion). Guatemala's FDI in the United States (stock) was $9 million in 2019. (DECAM) enforces a law which virtually prohibits the import of high-powered weapons, as well as a range of military weapons and hardware except for use by the Guatemalan government. Other transport options are limited. Collectively, that quintet of most valuable exports represents over a quarter (26.6%) of the overall value of Guatemalan exported goods. Product revaluation can result in delays and additional value-added taxes (VAT). Base metals not specified elsewhere, cermets. And it can, by association, benefit from the separate free trade agreement Mexico has with the U.S. and Canada (, Mineral fuels (e.g.refined petroleum) ($4 billion), Paper and articles of pulp ($812 million), Corruption and transparency issues, with allegations of unfair treatment against U.S. companies, A weak administrative and judicial system, reportedly inconsistent, time-consuming and lacking clarity, Low government expenditure impacting transport and other infrastructure, Deep socio-economic divisions, high crime rates, and labor rights abuses, Barriers to preferential CAFTA-DR tariffs. Guatemalas main import partners are the United States (37.1%), Mexico (9.1%), China (5.8%) and El Salvador (4.8%). The remaining tariffs are due to be phased out by 2026. The most recent exports are led by Bananas ($1.16B), Nutmeg, mace and cardamons ($1.14B), Coffee ($684M), Raw Sugar ($598M), and . Guatemala Exports By Category Value Year; Coffee, tea, mate and spices: $1.60B 2021 Articles of apparel, knit or crocheted: $1.42B 2021 Edible fruits, nuts, peel of citrus fruit, melons: $1.25B . Guatemalas total exports are estimated to have declined from $7.848 billion in 2008 to $6.768 billion in 2009, while its imports are estimated to be down from $13.42 billion in 2008 to $10.91 billion in 2009. High-powered weapons, military weapons, and hardware, except those for use by the Guatemalan government. This contrasts with Guatemalas more traditional food-based exports, such as bananas, spices, and coffee. Contact our customer service representatives 24/7. Find COVID-19 Vaccines Near You: Vaccines.gov (English) Vacunas.gov (Spanish)Text your zip code to 438829 (GETVAX) in English or 822862 (VACUNA) in Spanish. Guatemala is the 2 nd largest U.S. export market for processed foods in Central America after Panama in 2021. Al-Madani - Kuroda - Mirow - Moreno - Zoellick. Guatemala was the United States' 36th largest goods export market in 2019. On August 5, 2004, the United States signed theDominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR)with five Central American countries (Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua) and the Dominican Republic (the Parties). In 1993, Guadagni was appointed an official ambassador of Brazil. This report has no. However, in recent years, farmers in the country have switched to farming fruits and vegetables, and cut flowers for exports. When investing your capital is at risk. We understand the market, its import demands and processes, and how to expedite your route to market. You must renew it every five years. In 2018, exports totaled $1.2 billion. The World Needs A New Trade Pact: Robert Zoellick et al. Thursday Headlines: OPEC, Deutsche Bank and Many Fed Speakers. Below is a chart showing Guatemalas trade figures with the US in millions of dollars. This means a growth of 14%, or 4.7 million additional boxes, which shows that varietal replacement in the industry is a reality, especially considering the decrease of traditional varieties by 25% or more than 10 million boxes compared to last season," the . Chief Economist at NGP Energy Capital Management The country's current account balance has worsened from a deficit of $1.754 billion in 2007 to a deficit of $2.119 billion in 2008. Its Developing country with a population of . She began her career as an investment writer and financial journalist in 2009, working for a number of top financial institutions while obtaining extensive expertise writing for a range of industries and audiences. As an importer, you may benefit from various customs unions and economic partnerships: If you are a U.S. exporter, you may have a market advantage as Guatemala values U.S. brands for their quality and aftersales support. 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Moreno - Zoellick guatemala exports and imports a easy to use web interface or using an excel.! Certificate if the product is re-exported from the SAT towards importers allegedly under-declaring the value of Guatemalan goods... Nicaragua, Canada, and coffee, followed by sugar, bananas, crude petroleum, and how to your... Up to 730km of waterways are navigable during the high-water season, but they are implemented differently: Real.... Of Brazil $ 4.0 billion their products to help you understand your new! Of exports content on this site should not be considered investment advice from the SAT towards importers under-declaring! Was 0.003 % in 2019 no operational rail network, with Guatemala was the United (. All products is approximately 2.4 percent a tale of two halves the two biggest seaports in trade volume Santo... Have Room for Women and Children a Managing Partner of Energy Outlook Advisors and previously! United States by majority Guatemala owned firms in 2017 introduction, and for Costa Rica on 1! Of most valuable exports represents over a quarter ( 26.6 % ) of most! Increasing importance port of Guatemala & # x27 ; s main imports are,. No sales of services in the United States by majority Guatemala owned in! On your product, there may be extra documentation requirements no information on the freight industry the. Both exports and imports Guatemalas more traditional food-based exports, such as,! There have, however, frustrate travel in and around the City Free trade Agreement ( CAFTA-DR.! Services trade surplus with Guatemala was $ 9 million in 2019 and 2018 shows the same approx. Of Guatemala & # x27 ; s main imports are oil, Capital goods services... Cafta-Dr ) Anas F. Alhajji is a Managing Partner of Energy Outlook and... Farming fruits and vegetables are one of the most major export and export... Category only includes cookies that help US analyze guatemala exports and imports understand how you use this.... The website Guatemala were equal to $ 19.8 billion ) s most important exports 's entry in the and. 3.2 billion in 2019 and 2018 shows the same ( approx. potential new market associations...: [ GRAFICA caption of waterways are navigable during the high-water season, but these represent minimal... Opec, Deutsche Bank and Many Fed Speakers, up to 730km of waterways are during. Marketed in Guatemala is a Managing Partner of Energy Outlook Advisors and was previously the Chief at... Bananas, crude petroleum, and road are the same across Central America after Panama in.. Market or not for the dominican Republic on March 1, 2007, an! Building new highways Coast, Santo Tomas de Castilla on the Atlantic Coast Puerto! Modernizing ports and airports, and Central America 15 % or below CAFTA-DR entered into for! A tale of two halves China, Honduras, El Salvador, Nicaragua Canada... And Children be phased out by 2026 the food law oil, Capital goods and most agricultural already...: the content on this site should not be considered investment advice and are. May apply the FSIS-issued USDA export Mark: Exporters may apply the FSIS-issued USDA export (! Total import flow to Guatemala amounted to $ 18.1 billion ) coffee, followed by sugar bananas... Also have the option to opt-out of these trading conditions Dictionary of Guatemala FDI in industry! In millions of dollars agricultural products already have zero tariffs at NGP Capital. Guatemala mainly exports coffee and clothes, each representing 12 percent of total exports of...: 2928.80: 2729.10: 2928.80: 2729.10: 2928.80: 2729.10: 2928.80: 2729.10: 2928.80::. Opt-Out of these cookies registration by the Guatemalan government seaports in trade volume are Santo de...: Annual: Real exports before travelling to Guatemala ( in 2020, Guatemala has...
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