A few Practical Tips for doing business In Guatemala
People have preference for US products/brands.
Corruption is widespread.
High poverty rate.
Most business people speak English but appreciate when people speak some Spanish.
Business cards should be Spanish.
It is very common for Guatemalan business people to refer to himself/herself with the Spanish first person plural pronoun "nosotros" or "nosotras" meaning "ourselves" or "ourselves and you."
Brief History
The Mayan civilization flourished for centuries
1500's – 1821 - Spanish colony
1821 - Became independent
Second half of 20th century - Series of military and civilian governments as well as a 36-year guerilla war
1991- Internal conflict ended
National Holidays
January 1- New Year’s Day
April 6 - Holy Thursday (2023)
April 7 - Good Friday (2023)
April 8 - Holy Saturday (2023)
May 1 - Labor Day
June 30 - Army Day
September 15 - Independence Day
October 20 - Revolution Day
November 1 - All Saints Day
December 24 - Christmas Eve
December 25 - Christmas Day
December 31 - New Year’s Eve
General Information
Location - In Central America, bordering the North Pacific Ocean, between El Salvador and Mexico
Government Type - Presidential republic
Capital City - Guatemala City
Literacy Rate: 83.35% (2023)
Size: Slightly smaller than Pennsylvania
Population: 18M (2023 est.)
Population Growth Rate: 1.54% (2023 est.)
Population Distribution: A vast majority of people live in the south, particularly in the mountainous regions. More than half of the people live in rural areas.
The Economy
National Resources: petroleum, nickel, rare woods, fish, chicle, hydropower
Agricultural Products: sugar cane, bananas, oil palm fruit, maize, melons, potatoes, milk, plantains, pineapples, rubber
Major Industries: sugar, textiles and clothing, furniture, chemicals, petroleum, metals, rubber, tourism
Unemployment Rate: 2.57% (2022)
GDP: $95B (2022)
GDP Growth Rate (2022): 3.4% (2022)
Labor Force: 6.9M (2022)
Labor Force Breakdown: Agriculture - 31.4%, Industry - 12.8%, Services - 56.8% (2017)
Note: From 1988-1991, fifty South Korean companies opened apparel production facilities in Guatemala. They account for a large number of apparel exports.
International Trade
Guatemala has free trade agreements with the US, other Central American countries, Mexico, Dominican Republic, Colombia, Chile as well as the EU.
Total Exports: $14.2B (2021)
Major Product Exports: (2021)
Bananas - $1.01B
Coffee - $956M
Palm Oil - $715M
Nutmeg, mace and cardamons - $615M
Raw Sugar - $520M
Major Export Partners:
US - $4.47B
El Salvador - $1.73B
Honduras - $1.37B
Nicaragua - $841M
Mexico - $584M
Total Imports: $25.2B (2021)
Major Product Imports:
Refined Petroleum - $2.97B
Broadcasting Equipment - $740M
Cars - $618M
Packaged Medicines - $574M
Delivery Trucks - $555M
Major Import Partners:
US - $8.18B
China - $.24B
Mexico - $2.35B
El Salvador - $1.16B
Costa Rica - $127M
English Language Online News
Guatemala News Agency - government site -general news - www.news.gob.gt
Sampling of Guatemalan Companies
Corporacion Multi Inversiones - large conglomerate - www.cmi.co- Guatemala City
Malher SA- food & beverages - www.malher.com - Guatemala City
Trama Textiles - clothing & accessories - www.tramatextiles.org - Quetzaltenango
LionMane Software – software - www.lionmane.com - Guatemala City
Transforma Digital - tech service company - www.transformadigital.com - Guatemala City
Cadejo Brewing Company Beerhouse &Grill - brewing company/restaurant- www.cervezacadejo.com- Guatemala City
Textiles Gamar S.A. - clothing manufacturer - www.textilegamar.com - Guatemala City
Koramsa - textiles & clothing apparel - www.koramsa.com - Guatemala City
Alba Textiles – textiles - www.albatextiles.com - Guatemala City
Grupo Diveco - manufacturer of mattresses, retail products and lumber - www.grupo-diveco.com - Guatemala City
By Paul Mastilak
InterMark3, Inc.