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 (purchasing power parity):
$56.86 billion (2005 est.)
GDP (official exchange rate):
$26.98 billion (2005 est.)
GDP - real growth rate:
3.2% (2005 est.)
GDP - per capita (PPP):
$4,700 (2005 est.)
GDP - composition by sector: agriculture: 22.7% industry: 18.8% services: 58.5% (2005 est.)
Labor force: 3.76 million (2005 est.)
Labor force - by occupation: agriculture: 50% industry: 15% services: 35% (1999 est.)
Unemployment rate:
7.5% (2003 est.)
Population below poverty line:
75% (2004 est.)