Exporting to Guatemala

Guatemala is located in Central America. With a sea border on two sides and borders to Mexico, Belize, Honduras and El Salvador, the country is a good gateway to the Central American market. The total trade in goods and services (exports plus imports) between the UK and Guatemala was £168 million in the year up to the end of June 2019. This was an increase of 28.2% (or £37 million) when compared to the previous year (ONS, 2019).

Consistent economic growth

Guatemala’s GDP has consistently grown in recent years, and is projected to continue growing at an average rate of 3.5% each year until 2024 at least (ONS, 2019). This should increase the spending power of the consumer which UK exporters could benefit from.

Demand for UK goods and services

Of all UK exports to Guatemala in the year to June 2019, exports of goods increased by 20.6% compared to the previous year, while UK exports of services to Guatemala increased by 33.3% (ONS, 2019). Out of the total exports, 77.4% were goods, which were valued at £41 million, and 22.6% were services, which were valued at another £12 million (ONS, 2019). This shows a demand for UK goods and services which exporters could benefit from.

Ease of doing business

96th

out of 190 countries (World Bank, 2020)

Currency

Guatemalan Quetzal

Business language

Spanish

You're likely to need a translator

GDP per capita

$4,545

UK is $41,030 (IMF, 2019)

Economic growth

3.1%

(IMF, 2018)

Time zone

GMT -6

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.