NewsCase StudiesEvents

Overseas business risk: Guatemala

Also in the news...

Foreign travel advice Indonesia

FCDO advises against all travel to parts of Indonesia.

Foreign travel advice Romania

Warnings and insurance Still current at: 24 April 2024 Updated: 23 April 2024 Latest update: Information related to drug offences and Romanian music festivals (under 'Laws and cultural differences' subheading on the 'Safety and security' page).

Foreign travel advice The Gambia

Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Ferry services between Banjul and Barra have been suspended until further notice; The Islamic Summit of the OIC (Organisation of Islamic Cooperation) will be held in Banjul on 4-5 May; road closures and delays at Banjul International Airport ('Safety and security' page).

Foreign travel advice China

Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Updated information on flooding (‘Safety and security’ page).

Guidance Living in South Korea

Information for British citizens moving to or living in South Korea, including guidance on residency, healthcare, driving and more.

Overseas business risk: Guatemala

Back to News

The Overseas Business Risk report provides information on key security and political risks which UK businesses may face when operating in Guatemala.

1. General overview

Guatemala is the largest economy in Central America, with a GDP of USD 77.6 billion (2020); a country with the steadiest growth rate in Latin America for three decades. Guatemala’s economy experienced one of the smallest GDP contractions in 2020 in the region (-1.5%) following onset of the Covid-19 pandemic. The country is also the most populous in the region: 17.9m inhabitants with a GDP per capita of USD 4,317.50. It has a major geographical advantage in its access to Mexico and, via NAFTA, the US and Canada. Longer term, Guatemala has the potential to be a major hub of supply chain companies, particularly in light of the customs union between Guatemala, Honduras and El Salvador.

Guatemala is heavily reliant on traditional exports such as coffee, rendering the economy vulnerable to fluctuations in both international prices and weather conditions. Manufacturing is centred on light assembly and food processing. Tourism and the export of textiles and non-traditional agricultural products such as fruit and cut flowers are increasingly important.

British companies are under-represented in Guatemala compared with other European partners. A British-Guatemalan Chamber of Commerce was established in 2018 to help redress that balance.

gov.uk


You are not logged in!

Please login or register to ask our experts a question.

Login now or register.