embassy: 7-01 Avenida Reforma, Zone 10, Guatemala City
mailing address: APO AA 34024
telephone: [502] 331-1541/55
FAX: [502] 334-8477
Flag description: three equal vertical bands of light blue (hoist side), white, and light blue with the coat of arms centered in the white band; the coat of arms includes a green and red quetzal (the national bird) and a scroll bearing the inscription LIBERTAD 15 DE SEPTIEMBRE DE 1821 (the original date of independence from Spain) all superimposed on a pair of crossed rifles and a pair of crossed swords and framed by a wreath
Guatemala Economy
Economy - overview: 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. Former President ARZU (1996-2000) worked to implement a program of economic liberalization and political modernization. The 1996 signing of the peace accords, which ended 36 years of civil war, removed a major obstacle to foreign investment. In 1998, Hurricane Mitch caused relatively little damage to Guatemala compared to its neighbors. Ongoing challenges include increasing government revenues, negotiating further assistance from international donors, and increasing the efficiency and openness of both government and private financial operations. Despite low international prices for Guatemala's main commodities, the economy grew by 3% in 2000 and is forecast to grow by 4% in 2001. Guatemala, along with Honduras and El Salvador, recently concluded a free trade agreement with Mexico and has moved to protect international property rights. However, the PORTILLO administration has undertaken a review of privatizations under the previous administration, thereby creating some uncertainty among investors.
GDP: purchasing power parity - $46.2 billion (2000 est.)
GDP - real growth rate: 3% (2000 est.)
GDP - per capita: purchasing power parity - $3,700 (2000 est.)