Economic Affairs
BILATERAL RELATION
Economic Affairs
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Italy is the tenth destination for Guatemalan exports and the nineteenth supplier of its imports. Exports towards Italy concentrate on iron and steel, greases and oils, coffee, fruits, rum, paper, carton, sugar, and textiles; imports are based on the manufacturing sector.
In the last two years, trade between Guatemala and Italy has grown 9% and exports to Guatemala have registered a 12% growth. The balance of trade has increased mainly due to a push in non-traditional products, which have grown up to 672% with examples such as palm oil (we are the third provider to Italy), and traditional products such as sugar and confectionery products, with an increase of up to 179%.
There is a bilateral Agreement on Reciprocal Promotion and Protection of Investments (APRI in Spanish) between the two countries, which is in force since 3 March 2008.
HISTORICAL TRADE BALANCE GUATEMALA-ITALY
2014-2019
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|---|
|
TOTAL |
216,609,000 |
227,568,300 |
265,490,100 |
307,858,800 |
299,042,10 |
193,716,200 |
|
EXPORTS |
73,591,100 |
108,607,600 |
132,938,500 |
153,023,300 |
146,421,800 |
120,102,200 |
|
IMPORTS |
143,017,900 |
118,960,700 |
132,551,600 |
154,835,500 |
152,620,300 |
73,614,000 |
|
BALANCE |
- 69,426,800 |
- 10,353,100 |
386,900.00 |
- 1,812,200 |
- 6,198,500 |
46,488,200 |
The Embassy of Guatemala in Italy has set the goal to plan out strategic actions for the promotion of trade of Guatemalan products in the Italian market. This diplomatic mission concentrates its efforts on searching for market trends that stand out in Italy, which can build a base for the introduction and consolidation of Guatemalan products. Furthermore, market dynamics are being studied that could open more opportunities in the food, manufacturing, and services sectors.
The strategy is focused on providing services that support the internationalization of Guatemalan companies, promote exports, attract investments, and position the country as a first-class tourism destination, through Trade Diplomacy actions.
The Italy-Guatemala Chamber of Commerce and Industry (CAMCIG in Spanish) has become a relevant instance in the common efforts to deepen the economic and trade relations between both countries. For further information, please visit www.camcig.org.