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Indicators of economy in Guatemala

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Guatemala, on the other hand, reached USD 5,026 per capita, or 85.99 billion USD for the whole country. Guatemala is therefore currently ranked 69 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Guatemala ranks 121st in the list of the richest countries.

Inflation in Guatemala in 2021 was around 4.26%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 40.4 percent lower.
The index for perceived corruption in the public sector is 25, which is rather poor by global standards.


Back to overview: Guatemala

Impact of the COVID-19 pandemic

Overall, the gross domestic product in Guatemala in 2020 increased from 77.17 billion US dollars to 77.63 billion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 0.59 percent increase has been rather unusual this year. While most countries have suffered significant losses, Guatemala has certainly held its own. The tourism sector alone slumped by around 76 percent. The unemployment rate rose from 2.2 to 3.6 percent. The inflation rate fell from 3.7 percent previously to 3.2 percent by the end of 2020.

Unemployment rates in percentages 1991 - 2021

Economic performance 2021

 Guatemala
Total
Guatemala
per capita
EU
Total
EU
per capita
GDP85.99 bn USD5,025.54 USD17.177 tn USD33,384.92 USD
Gross national product84.53 bn USD4,940.74 USD16.895 tn USD32,835.37 USD


Development of gross domestic product in billions of USD 1960 - 2021



Imports and Exports 2021

 Guatemala
Total
Guatemala
per capita
EU
Total
EU
per capita
Imports27.55 bn USD1,610.01 USD8.916 tn USD17,329.02 USD
Exports15.32 bn USD895.29 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1977 - 2021

Exports
Imports



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