Economic Growth In Guatemala

Guatemala has won its independence from Spain 1821.Since then, Guatemala has been struggling with its politics and as well as the economy itself. Now,Guatemala has a constitutional democratic republic government. It is very similar to the United States government system which is the presidential system. It’s population is 16,901,480 and still going. Guatemala is a very poor country that has been struggling in improving health and development, literacy(education) and contraceptive and use. Many guatemalans decides to leave their country because of the declining economy, better opportunity, political instability, natural disasters and poverty. In 1989, about 93 percent of the indigenous population in Guatemala were living in poverty and 91
Poor efforts in improving and managing the public finance(little to no impact in the economy).”Public investment is essential to achieving Guatemala’s development goals, yet it remains constrained by a lack of resources. Boosting growth will have to depend upon continued reforms to mobilize increased private investment and revenue to fund important pro-growth investments in infrastructure and human capital.” Although, Guatemala has been one of the strongest economic performers in Latin America in recent years. In 2015, Guatemala exported $11.8billion and imported $17.8 billion, this result in a negative trade. Their GDP was $63.8 billion and its GDP per Capita was $7.72k.In 2016, the country’s economy has made some progress in improving their economy,it grew by 2.9 percent and is expected to grow by 3.2 percent in 2017.Guatemala is the 80th largest export economy in the world and the 86th most complex economy according to the Economic
Imports:“In recent years, farmers in the country have switched to farming fruits and vegetables, and cut flowers for exports. Petroleum and apparel are the other main products exported by Guatemala. While the US remains the biggest exporter of goods and accounted for nearly 40% of Guatemala’s exports in 2008, El Salvador accounted for 12.6%, followed by Honduras at 9.5%, Mexico at 6.6%, Nicaragua at 4.2% and Costa Rica at 4.1%.” Exports:Guatemala’s main import partners are the United States (37.1%), Mexico (9.1%), China (5.8%) and El Salvador (4.8%). The Central American nation imports intermediate and capital goods, including fuels, machinery and transport equipment, construction materials, grain, fertilizers and