Economy - overview: | Guatemala is the largest and most populous of the Central American countries with a GDP per capita roughly one-half that of Brazil, Argentina, and Chile. The agricultural sector accounts for about one-fourth of GDP, two-thirds of exports, and half of the labor force. Coffee, sugar, and bananas are the main products. The 1996 signing of peace accords, which ended 36 years of civil war, removed a major obstacle to foreign investment, but widespread political violence and corruption scandals continue to dampen investor confidence. The distribution of income remains highly unequal, with perhaps 75% of the population below the poverty line. Other ongoing challenges include increasing government revenues, negotiating further assistance from international donors, upgrading both government and private financial operations, curtailing drug trafficking, and narrowing the trade deficit. |
GDP - per capita | $4,300 (2005 est.) |
GDP - real growth rate (%) | 3.1% (2005 est.) |
Agriculture - products | sugarcane, corn, bananas, coffee, beans, cardamom; cattle, sheep, pigs, chickens |
GDP - composition by sector (%) | agriculture: 22.8%, industry: 19.1%, services: 58.1% (2005 est.) |
Industries | sugar, textiles and clothing, furniture, chemicals, petroleum, metals, rubber, tourism |
Economic aid - recipient | $250 million (2000 est.) |
Debt - external | $5.503 billion (2005 est.) |
Population below poverty line (%) | 75% (2004 est.) |
Labor force - by occupation (%) | agriculture 50%, industry 15%, services 35% (1999 est.) |