GDP in Guatemala

Guatemala GDP | Economic News & Forecasts

Guatemala - GDP

GDP growth slips in Q2

The economy decelerated in Q2 on the heels of a mild Q1. GDP growth came in at a nearly seven-year low, expanding only 2.3% over the same quarter a year earlier, and below the 3.0% year-on-year expansion recorded in Q1. The deceleration came as result of a contraction in exports and significantly weaker fixed investment growth.

Underpinning growth in Q2 was a subdued rise in household spending, which expanded 3.2% (Q1: +3.4% year-on-year) and robust remittance inflows, especially from the United States. Moreover, government spending expanded by a marginal 0.2% as long-promised public spending on education and infrastructure likely came online amid the government’s looser fiscal stance, contrasting Q1’s contraction (-3.1% yoy). Fixed investment growth, on the other hand, slowed sharply to 2.8% in Q2 after a strong showing a quarter earlier (Q1: +6.3% yoy).

The external sector dragged even more heavily on growth in Q2. Behind the poor showing was a 0.8% contraction in exports, which contrasted a solid expansion a quarter earlier (Q1: +5.5% yoy). Imports, on the other hand, remained strong at 4.0% (Q1: +5.0% yoy). Taken together, the external sector’s contribution to overall growth in the quarter was minus 1.9 percentage points (Q1: minus 0.6 percentage points).

Despite unremarkable economic growth in H1, the Central Bank expects GDP growth of between 3.0% and 3.8% this year and between 3.0% and 4.0% next year. FocusEconomics Consensus Forecast panelists see GDP growing 3.7% in 2017, which is up 0.3 percentage points from last month’s forecast. For 2018, our panelists expect GDP growth to clock in at 3.4%, which is down 0.1 percentage points from last month’s forecast.

Guatemala - GDP Data

2012  2013  2014  2015  2016  
Economic Growth (GDP, annual variation in %)3.0  3.7  4.2  4.1  3.1  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.

Download

Guatemala GDP Chart


Guatemala GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: National Statistical Institute and FocusEconomics calculations.

Guatemala Facts

ValueChangeDate
Exchange Rate7.350.22 %Oct 19

Sample Report

Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.

Download

Start Your Free Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

Search form