Exporting guide to Guatemala

Overview

Guatemala is in Central America. It borders Mexico, El Salvador, Honduras, Belize and is seen as a gateway into North and Central America. The total trade in goods and services between the UK and Guatemala in 2020 was £220 million, an increase of 42% from 2019 (ONS, 2020).

Stable macroeconomy

Guatemala offers a sturdy macroeconomic framework, with international agencies rating its economy as stable and resilient. Legal measures to procure low inflation levels, good fiscal management and a measured exchange rate allowed Guatemala to sustain a steady economic growth of 3.5% from 2014 to 2019 (World Bank, 2019).

Growing imports market

Guatemala’s main imports from the UK are finished goods such as vehicles, machinery, and spirits (ONS, 2020). UK exports of goods to Guatemala have steadily and consistently increased over the last 20 years and from 2016 to 2019 have more than doubled (ONS, 2020). In the year to June 2020 UK exports of goods increased by 58% when compared to the same period in 2019. (ONS, 2020).

Close up of fruit stall

Guatemala: at a glance

Currency

Guatemalan Quetzal

Business language

Spanish

You're likely to need a translator

GDP per capita

$4,542

UK is $46,200 (IMF, 2021, projected figures)

Economic growth

5.5%

(IMF, 2021, projected figure)

Time zone

GMT -6

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Opportunities for exporters

Potential for UK industries can be found in a broad range of industries as British goods and services are highly regarded within the Guatemalan market.

Check for trade barriers

Trade barriers, such as tariffs or taxes, can raise costs, cause delays, or even stop you from exporting. Check for any issues that may impact your business when exporting.

See current trade barriers

See resolved trade barriers

Check duties and customs

Find information on how to export goods from the UK. View the duties, rules, restrictions, and the documents you need for your products.

See current duties and customs procedures

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.