The Gross Domestic Product (GDP) in Guatemala contracted 9.64 percent in the second quarter of 2020 over the same quarter of the previous year.

GDP Annual Growth Rate in Guatemala averaged 3.31 percent from 2002 until 2020, reaching an all time high of 7.70 percent in the second quarter of 2007 and a record low of -9.64 percent in the second quarter of 2020. This page provides - Guatemala GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Guatemala GDP Annual Growth Rate - values, historical data and charts - was last updated on October of 2020. source: Banco de Guatemala

GDP Annual Growth Rate in Guatemala is expected to be -4.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Guatemala to stand at 4.90 in 12 months time. In the long-term, the Guatemala GDP Annual Growth Rate is projected to trend around 3.60 percent in 2021 and 3.40 percent in 2022, according to our econometric models.

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Guatemala GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-9.64 0.71 7.70 -9.64 2002 - 2020 percent Quarterly

Guatemala GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate -9.64 0.71 7.70 -9.64 percent [+]
GDP 85.30 78.46 85.30 1.04 USD Billion [+]
GDP Constant Prices 115161.80 128654.50 131557.50 35350.00 GTQ Million [+]
Gross Fixed Capital Formation 72283.30 39015.10 72283.30 26905.70 GTQ Million [+]
GDP per capita 3413.27 3338.55 3413.27 1490.73 USD [+]
GDP per capita PPP 8637.56 8448.46 8637.56 5560.33 USD [+]
GDP From Agriculture 12396.27 13794.38 13794.38 4494.10 GTQ Million [+]
GDP From Construction 5007.97 4680.63 6030.19 1247.70 GTQ Million [+]
GDP From Manufacturing 16677.29 18331.44 18492.47 6781.80 GTQ Million [+]
GDP From Mining 935.86 993.44 2382.97 227.20 GTQ Million [+]
GDP From Public Administration 5111.48 5159.48 5159.48 1444.20 GTQ Million [+]
GDP From Transport 2360.88 3277.76 5962.00 1931.50 GTQ Million [+]
GDP From Utilities 3081.43 3725.28 3886.17 933.20 GTQ Million [+]

Guatemala GDP Annual Growth Rate
Guatemala has one of the lowest GDP per capita of the Americas. The main sector of the economy is services which accounts for 60 percent of GDP. The growing tourism industry is one of the major sources of income. More importantly, in recent years Guatemala was able to attract foreign direct investment to its production industries. As a result, the manufacturing sector now employs 23 percent of the population and accounts for 30 percent of GDP. Nevertheless, high crime rate and corruption, lack of high-skilled manpower and low quality infrastructures are the country's most challenging obstacles for growth.