Economics of Guatemala

Guatemala is a country known to be faced with poverty, yet it has a successful economy. Guatemala has an estimated GDP of $104.5 billion dollars USD and an estimated GDP per capita of $5,762 USD. They also have an estimated GDP growth rate of 3.5% yearly. The Guatemalan currency is Quetzales, and one Quetzal is equal to about $.12 USD. Guatemala has the 103rd-largest GDP in the world! Much of Guatemala’s profits come from Agriculture. Most of their top exports are plants or a form of plant. Their most profitable exports are coffee, followed by Palm oil in second, and Raw sugar in third. Guatemala is also the biggest exporter of Cardamom and Nutmeg in the world! The majority of their exports are to the US and El Salvador, but they send exports to a majority of countries all over the world. Due to these large exports, Guatemala is the most profitable country in Central America. They also receive large imports of petroleum and cars. The most common job in Guatemala is working on a farm. This can include many jobs, such as being a farmhand or owning a farm itself. If you are wondering why the most profitable country in Central America is faced with high poverty levels, it is that way due to the failure to distribute money fairly. A reason for this is that Guatemala has had many corrupt presidents in its history, and has been overrun with gangs, leading to a lot of funds going towards failed plans to force gangs to leave the country.