The economy of Guatemala advanced 4 percent year-on-year in the third quarter of 2019, following a 3.5 percent expansion in the previous period. Output increased further in wholesale & retail trade (3.7 percent vs 3.6 percent); agriculture, forestry, and fishing (3.1 percent vs 1.5 percent); financial activities & insurance (6.5 percent vs 5.5 percent); health (7.9 percent vs 2.3 percent); transport & storage (4 percent vs 2.6 percent); real estate (4.4 percent vs 4.2 percent); professional & scientific activities (5.7 percent vs 4.1 percent); public administration & defense (2.9 percent vs 2.8 percent); and education (1.6 percent vs 0.8 percent). Also, information and communication grew 4 percent, recovering from a 2.3 percent contraction in the second quarter of the year.

GDP Annual Growth Rate in Guatemala averaged 3.50 percent from 2002 until 2019, reaching an all time high of 7.70 percent in the second quarter of 2007 and a record low of -1.50 percent in the second quarter of 2009. This page provides - Guatemala GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Banco de Guatemala

GDP Annual Growth Rate in Guatemala is expected to be 3.10 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 3.20 in 12 months time. In the long-term, the Guatemala GDP Annual Growth Rate is projected to trend around 3.20 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
4.00 3.50 7.70 -1.50 2002 - 2019 percent Quarterly

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.