From 2023 to 2024, the value of Guatemala’s worldwide exports expanded 2.8% starting from $14.2 billion.
Guatemala’s 5 Most Valuable International Customers
The top 5 most valuable importers for products that Guatemala exported during 2024 are the United States of America, El Salvador, Honduras, Nicaragua and Mexico. Combined, that quintet of major Guatemalan trade partners generated over two-thirds (69.3%) of Guatemala’s export revenues.
Applying a continental lens, 46.3% of Guatemala’s exports by value was delivered to customers based in Latin America excluding Mexico but including the Caribbean.
Meanwhile 38.5% was sold to importers in North America. Guatemala shipped another 8.4% worth of goods to buyers in Europe.
Lesser percentages went to customers located in Asia (6.2%), Africa (0.4%) then Oceania (0.2%) led by Australia and New Zealand.
Guatemala’s Top Trading Partners
Below is a list showcasing 25 of Guatemala’s top trading partners. That is, these are the countries that imported the most Guatemalan shipments by dollar value during 2024. Also shown is each import country’s percentage of total Guatemalan exports.
- United States: US$4.7 billion (32.2% of total Guatemalan exports)
- El Salvador: $2 billion (13.4%)
- Honduras: $1.7 billion (11.5%)
- Nicaragua: $1.1 billion (7.3%)
- Mexico: $726.6 million (5%)
- Costa Rica: $673.5 million (4.6%)
- Netherlands: $496.6 million (3.4%)
- Panama: $328 million (2.2%)
- Dominican Republic: $287.4 million (2%)
- Canada: $185.1 million (1.3%)
- Saudi Arabia: $180.9 million (1.2%)
- Spain: $171.4 million (1.2%)
- Belize: $140.3 million (1%)
- United Arab Emirates: $137.7 million (0.9%)
- Colombia: $125.2 million (0.9%)
- Japan: $122.3 million (0.8%)
- Taiwan: $120.5 million (0.8%)
- Chile: $112.1 million (0.8%)
- Belgium: $107.7 million (0.7%)
- United Kingdom: $102.4 million (0.7%)
- Germany: $101.7 million (0.7%)
- Italy: $98.9 million (0.7%)
- Peru: $98.4 million (0.7%)
- Ecuador: $91.2 million (0.6%)
- South Korea: $88.8 million (0.6%)
By value, well over nine-tenths (95.2%) of Guatemalan exports in 2024 was delivered to the above 25 trade partners.
The strongest increases among the listed importers for Guatemala’s exports belong to: Colombia (up 86% from 2023), Saudi Arabia (up 58.1%), United Arab Emirates (up 54.3%), Canada (up 30.3%) then South Korea (up 29.7%).
Double-digit percentage decliners were buyer in Spain (down -41.6% from 2023), Italy (down -29%), Germany (down -24.1%), Netherlands (down -19.1%), Japan (down -16.7%) and Chile (down -10.3%).
Countries Causing Guatemala’s Largest Trade Deficits
Guatemala incurred a total -US$17.9 billion trade deficit during 2024, growing by 11% from the -$16.1 billion in red ink one year earlier in 2023.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Guatemala incurred the highest trade deficits with the following countries.
- United States: -US$5.9 billion (country-specific trade deficit in 2024)
- mainland China: -$4.7 billion
- Mexico: -$2.7 billion
- Panama: -$776 million
- Brazil: -$646.7 million
- India: -$617.7 million
- Colombia: -$515.1 million
- Costa Rica: -$481.7 million
- Argentina: -$464.2 million
- Japan: -$408.8 million
Among Guatemala’s trading partners that cause the greatest negative trade balances, Guatemalan deficits with Panama (up 31.9%), Argentina (up 31.3%) and Costa Rica (up 29.6%) grew at the fastest pace from 2023 to 2024.
These cashflow deficiencies clearly indicate Guatemala’s competitive disadvantages with the above countries, but also represent key opportunities for Guatemala to develop country-specific strategies to strengthen its overall position in international trade.
Countries Driving Guatemala’s Best Trade Surpluses
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Guatemala incurred the highest trade surpluses with the following countries.
- Nicaragua: US$870.1 million (country-specific trade surplus in 2024)
- Honduras: $761.5 million
- El Salvador: $433.3 million
- Netherlands: $268.6 million
- Dominican Republic: $252 million
- Saudi Arabia: $157 million
- Belize: $133.4 million
- United Arab Emirates: $114.1 million
- United Kingdom: $49.1 million
- Jamaica: $32.8 million
Among Guatemala’s trading partners that generate the greatest positive trade balances, Guatemalan surpluses with Saudi Arabia (up 69.8%), United Arab Emirates (up 59.2%) and the Dominican Republic (up 30.5%) grew at the fastest pace from 2023 to 2024.
These positive cashflow streams clearly indicate Guatemala’s competitive advantages with the above countries, but also represent key opportunities for Guatemala to develop country-specific strategies to optimize its overall position in international trade.
Companies Servicing Guatemalan Trading Partners
Wikipedia lists exporters from Guatemala. Selected examples are shown below:
- Claro Americas (telecommunications)
- Corporación Multi Inversiones (agro-industrial conglomerate)
- Malher (food, beverages)
- Ron Zacapa Centenario (premium rum)
- Trama Textiles (hand-made woven goods)
See also Guatemala’s Top 10 Exports, Costa Rica’s Top 10 Exports, El Salvador’s Top 10 Exports and Belize’s Top 10 Exports, Dominican Republic’s Top 10 Exports and Cuba’s Top 10 Exports
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on January 13, 2026
Trade Map, International Trade Centre, Trade Map. Accessed on January 13, 2026
Investopedia, Net Importer Definition. Accessed on January 13, 2026
Wikipedia, List of Companies of Guatemala. Accessed on January 13, 2026