• GDP: US$27 billion (2005).
• Main imports: Fuel, machinery and transport equipment, mineral products, chemical products and plastic materials.
• Main exports: Coffee, sugar, crude oil, clothing, fruit and vegetables.
• Main trade partners: USA, El Salvador, Honduras and the EU.

Guatemala boasts the largest economy in Central America. Agriculture, prinicipally coffee, sugar cane and bananas, accounts for over 20% of GDP and 75% of exports. This includes non-traditional products such as cut flowers, fruit and winter vegetables.

Light manufacturing and food processing, principally aimed at the domestic, US and Central American markets, also play an important role in the economy. Additionally, the government has identified tourism as a major growth sector.

Guatemala's main trading partner is the USA. The two countries ratified the US-Central American Free Trade Agreement (CAFTA) in 2005. The agreement came into force in July 2006.

Economic growth has been steady in the past few years, with annual growth reaching 3.1% in 2005, although inflation that year rose to 9.1%. The unemployment rate was estimated as 3.2% in 2005.

Guatemalan businesspeople tend to be rather formal and conservative. Normal courtesies should be observed and appointments should be made. Punctuality is appreciated and business cards can be useful.

Office hours: Mon-Fri 0800-1800, Sat 0800-1200.

Guatemala has the facilities and hotel infrastructure for conventions, conferences and business meetings. The Centro Cultural Miguel Angel Asturias and other modern conference centres are available for such events, often quite close, or accessible to Guatemala’s beauty spots.

Cámara de Comercio de Guatemala (Chamber of Commerce)
10A Calle 3-80, Zona 1, Guatemala City, Guatemala
Tel: 2253 5353.
Website: www.negociosenguatemala.com

Cámara de Industria (Chamber of Industry)
Ruta 6, 9-21, Zona 4, Edificio Cámara de Industria, 01004 Guatemala City, Guatemala
Tel: 2331 9191. 
Website: www.industriaguate.com