El Salvador becomes second largest trade partner of Guatemala

2011-10-04

Although Guatemala enjoys an increasingly diverse market in recent year, it suffers a decline in exports due to the global financial crisis, making El Salvador its second largest trade partner. Total Guatemala exports to El Salvador were US$ 901 million in 2008, US$ 766 million in 2009 and a whopping US$ 921 million in 2010. Data released by Guatemala-based Secretaría de Integración Económica Centroamericana (SIECA) shows that El Salvador accounted for 16.7% of Guatemala’s total exports in 2008, or US$ 5.376 billion, and is predicted to represent 15.8% of Guatemala’s 2010 exports (US$ 5.812 billion). The U.S. remains a leading trade partner of Guatemala, contributing to 22.3% of Guatemala’s total export in 2010 (US$ 1.3 billion).