GDP reading: China’s GDP grew 4.5% on a year-on-year basis in Q4, following a 4.8% expansion in the previous quarter....
Economic Growth in Guatemala
Guatemala's economy recorded an average growth rate of 3.6% in the decade to 2024, compared to the 2.9% average for Central America and Caribbean. In 2024, real GDP growth was 3.7%. For more GDP information, visit our dedicated page.
Guatemala GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Guatemala from 2014 to 2025.
Source: Macrobond.
Guatemala GDP Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | -1.8 | 8.0 | 4.2 | 3.5 | 3.7 |
| GDP (USD bn) | 77.7 | 86.4 | 95.6 | 104.3 | 113.1 |
| GDP (GTQ bn) | 600 | 669 | 741 | 817 | 878 |
| Economic Growth (Nominal GDP, ann. var. %) | 1.0 | 11.4 | 10.8 | 10.3 | 7.4 |
Economic growth picks up in Q3 2025
GDP growth accelerates in Q3: Guatemala's GDP expanded 4.3% on a year-on-year basis in Q3, marking a three-quarter high, following 4.1% growth in the previous quarter.
Domestic demand drives the improvement: Domestic demand was behind the acceleration; compared to the previous period's data, figures in Q3 improved for private consumption (+5.0% in annual terms vs +4.5% in Q2), government consumption (+8.0% vs +7.4% in Q2), fixed investment (+10.4% vs +9.6% in Q2) and imports of goods and services (+8.9% vs +6.6% in Q2). In contrast, the reading for exports of goods and services worsened in Q3 (-2.4% vs +2.3% in Q2). Private spending growth was bolstered by an increase in formal employment and remittance inflows, whereas public consumption rose at a faster pace thanks to higher spending on public sector wages and education-related programs. Fixed investment growth also picked up as a result of public infrastructure projects. Less positively, net trade detracted from growth, as import growth accelerated in Q3 vs Q2, while exports of goods and services fell for the first time since Q1 2024 on softer external demand likely tied to U.S. tariffs and global trade uncertainty.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Guatemalan GDP projections for the next ten years from a panel of 18 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Guatemalan GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Guatemalan GDP projections.
Want to get access to the full dataset of Guatemalan GDP forecasts? Send an email to info@focus-economics.com.
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