The economic activities in Guatemala center on services, which make up 63.2% of GDP, followed by industry at 23.4% and agriculture at 13.3%. What are the main economic activities in Guatemala? The economy reached roughly $113.2 billion in 2024, with sugarcane, bananas, and oil palm leading farm output. Services and agriculture together sustain much of the workforce.
As of 2024, Guatemala’s GDP stands at approximately $113.2 billion (current US$), ranking among the larger Central American economies. Its GDP per capita is about $6,150 (current US$). (World Bank, 2024)
Guatemala’s economy demonstrates steady growth, with potential for further development and investment in various sectors to enhance its economic standing on the global stage.
What are the economic activities of Guatemala?
- Primary activities: 13.3% of GDP.
- Secondary activities: 23.4% of GDP.
- Tertiary activities: 63.2% of GDP.
Primary Sector of Guatemala
Guatemala’s primary sector, dominated by agriculture, thrives due to its diverse climate and abundant natural resources. With 43.04% of the land dedicated to agriculture, the country produces a variety of crops and animal products. The top ten agricultural products include sugarcane, bananas, oil palm fruit, maize, cantaloupes/melons, potatoes, milk, tomatoes, chicken, and pineapples.
Despite contributing 13.3% to the GDP, agriculture plays a crucial role in the economy, providing livelihoods and sustenance to many Guatemalans. The sector’s significance lies in the rich tapestry of products it offers, showcasing the country’s agricultural prowess.
With a diverse geological landscape, Guatemala boasts rich natural resources. The primary sector thrives on petroleum, nickel, rare woods, fish, chicle, and hydropower, driving economic growth and employment opportunities.Guatemala’s oil production of approximately 6,307 barrels per day places the country at the 59th position in the world ranking. With oil reserves totaling 83,070,000 barrels, Guatemala holds a small but significant percentage of the world’s oil reserves at 0.01%.Secondary Sector of Guatemala
What is the secondary sector or what are secondary activities?The secondary sector comprises industries that transform raw materials into finished products for consumption. In Guatemala, key industrial products include sugar, textiles, clothing, furniture, chemicals, petroleum, metals, and rubber. These goods are manufactured for domestic consumption and export, contributing significantly to the country’s economy.Manufactures in Guatemala’s total exports in 2023 accounted for 45.76%, indicating their significant role in the country’s economy. However, other sectors like agriculture and services also play crucial roles, diversifying the export base and reducing dependence on a single industry.Tertiary sector of Guatemala
Military Activities and Economic Sectors of Guatemala
The military is a key example of how different economic activities work together. In the primary sector, resources are extracted for military use. The secondary sector focuses on manufacturing military equipment. The tertiary sector provides services, while the quaternary sector involves research and development. Finally, the quinary sector is where high-level decisions and strategies are made for military operations.
In Guatemala, the military expenditure for 2023 is approximately 422.3 million US dollars, which is about 0.41% of the country’s GDP. The active military force consists of 24,917 personnel, resulting in 6.4 active military members for every 1,000 people in the population.
International Trade of Guatemala
Import Activities of Guatemala
Import activities in Guatemala are crucial, accounting for about 29% of GDP in 2023, totaling roughly $30.28 billion in goods imports. This highlights the significant reliance on imports for the country’s economy.Guatemala’s key import activities include importing refined petroleum, video displays, paper, plastic products, and cars. The country’s top import partners are the US (34%), China (18%), Mexico (9%), El Salvador (4%), and Costa Rica (3%).Exports Activities of Guatemala
In Guatemala, export activities play a medium-high importance role, accounting for about 14% of GDP in 2023, totaling roughly $14.26 billion in goods exports. This highlights the significant contribution of exports to the country’s economy.Guatemala’s export activities are diversified, with key partners being the US, El Salvador, Honduras, Nicaragua, and Mexico. The country primarily exports garments, coffee, bananas, palm oil, and raw sugar.Guatemala economy challenges in 2024
In 2024, Guatemala faces ongoing challenges with high poverty and income inequality. Limited government services and lack of employment opportunities hinder human development efforts. Despite steady economic growth fueled by remittances, frequent natural disasters continue to impede progress and drive emigration.Sources
Last updated: June 20, 2026
Leave a Reply