Diplomatic representation from the US: chief of mission: Ambassador Prudence BUSHNELL embassy: 7-01 Avenida APO AA 34024 telephone: 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
Economy Guatemala
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 2.3% 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 - $48.3 billion (2001 est.)
GDP - real growth rate: 2.3% (2001 est.)
GDP - per capita: purchasing power parity - $3,700 (2001 est.)
GDP - composition by sector: agriculture: 23% industry: 20% services: 57% (2000 est.)
Population below poverty line: 60% (2000 est.)
Household income or consumption by percentage share: lowest 10%: 1.6% highest 10%: 46% (1998)
Distribution of family income - Gini index: 55.8 (1998)