Guatemala

In 2009, the Guatemalan economy faced serious challenges as attempts were made to mitigate the impact of the global financial crisis, and in particular the impact of the recession in the United States. As result of the fall in exports, remittances, FDI and tourism, real GDP grew by only 0.6%, down from 3.3% in 2008, while per capita GDP contracted by 1.9%. The increase in the trade deficit (to 9.8% of GDP) was offset by the inflow of remittances (10.5% of GDP), notwithstanding the decline in the latter. The balance-of-payments current account deficit (0.6% of GDP) was partially financed with incoming FDI (1.6% of GDP), which, although lower than in 2008, was significant given the international economic crisis.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions