Guatemala is the largest country in Central America by gross domestic product (nearly US$50 million) and population (more than 16 million).
Guatemala also has a large number of free and preferential trade agreements, many of which are multilateral and include El Salvador, Honduras, Nicaragua, Costa Rica, and Panama.
The following graphs show Guatemalan exports (blue and positive) and imports (orange and negative) in 2015:
Guatemala has free trade agreements with all other Central American nations except Belize. In 2006, Guatemala and Belize signed a preferential trade agreement, which entered into force in 2010.
Guatemala had a trade surplus of nearly US$850 million in 2015 with other Central American countries.
Guatemala has signed free trade agreements with Chile (1999), Colombia (2007), and Peru (2011). Very low trade with Bolivia and Paraguay can be partially explained by significantly higher transportation costs since both Bolivia and Paraguay are landlocked.
Guatemala trade deficit of more than US$720 million in 2015 with South American countries.
The Dominican Republic is the only Caribbean nation with a free trade agreement with Guatemala. The first agreement was signed between Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic in 1998, while CAFTA-DR between the previous countries and the United States was signed in 2004.
Guatemala had a trade surplus of nearly US$230 million in 2015 with Caribbean countries.
Guatemala has free trade agreements with the United States (2004) and Mexico (2011). While it has a bilateral free trade agreement with Taiwan, Guatemala does not have a trade agreement with China.
Guatemala had a trade deficit of US$2.684 billion with the United States and US$1.610 billion with Mexico in 2015.
Overall, Guatemala exported US$10.677 billion and imported US$17.637 goods from more than 140 countries in 2015.
Viewed together it is apparent that the United States dominated trade with Guatemala in 2015 comprising 36 percent of exports and 37 percent of imports.
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