Guatemala Exports Data in 2022 - Global Trade Data | Tendata

tendata blogTrade Data

ten data blog08-12-2023

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In 2022, Guatemala exported $15.8 billion worth of goods globally. Compared to $13.6 billion in 2021, Guatemala's global exports increased by 16.3% year-over-year.

Guatemala's Best Export Customers

The most recent country-specific data shows that Guatemalan exports are mainly purchased by importers from the United States of America (32.3% of Guatemala's total), El Salvador (13%), Honduras (10%), Nicaragua (6.3%), Mexico (4.4%), the Netherlands (4.2%), Costa Rica (4%), mainland China (2.7%), Panama ( 2%), Spain (1.9%), Dominican Republic (1.7%) and Italy (1.3%).

Guatemala's Top 10 Exports

1. Knitted or crocheted clothing, accessories: $1.7 billion (10.5% of total exports)

2. Coffee, tea, spices: $1.54 billion (9.8%)

3. Fruits, nuts: $1.47 billion (9.3%)

4. Animal and vegetable fats, oils, waxes: $1.2 billion (7.4%)

5. Sugar, confectionery: $954.9 million (6%)

6. Iron and steel: $717 million (4.5%)

7. Plastics, plastic products: $607.1 million (3.8%)

8. Fossil fuels including oil: $456.8 million (2.9%)

9. Beverages, spirits, vinegar: $456.1 million (2.9%)

10. Paper, paper products: $415.6 million (2.6%)

Guatemala's top ten exports accounted for three-fifths (59.8%) of its total global export value.

Sugar, including confectionery, is the fastest growing of the top ten export categories, growing 46.5% from 2021 to 2022. The second highest improvement in export sales was in animal or vegetable fats, oils and waxes, which grew by 29.5%. Guatemala's exports of beverages, spirits and vinegars grew the third fastest, by 28.8%.

Guatemala's top ten export categories with the smallest growth were coffee, tea and spices, up 5.9 percent.

At the more granular four-digit HS code level, coffee represents Guatemala's most valuable export, accounting for 7.1 percent of the country's total exports. It was closely followed by bananas and plantain (6.8%), followed by palm oil (5.8%), sugar (5.1%), knitted or crocheted jerseys and pullovers (3.3%), ferroalloys (3%), spices such as cardamom and nutmeg (2.6%), knitted or crocheted men's shirts (2.3%), knitted or crocheted men's shirts (2.3%), and then dosage mixes of drugs (2.1%) .

The Role of Customs Data

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In global trade, it is crucial to recognize the significance of customs data. When customs data is effectively aligned with business development, it greatly enhances the volume of global trade operations. Below, Tendata will elucidate three key applications of import and export data:

1. Market Analysis

Analyzing market trends and frontiers involves assessing market demands across different regions and juxtaposing product prices. This facilitates the selection of target markets with high profitability and substantial demand. Simultaneously, by querying customs data, one can gain insights into product market distribution and changing trends, enabling timely adjustments to marketing strategies.

Tendata iTrader provides access to customs data from over 80 countries (>>>Click to GET FREE ACCESS TO CUSTOMS DATA from 80+ Countries<<<), along with business data from 198 countries and over 10 billion trade records. Through multidimensional aggregation and analysis of global market information such as buyers, suppliers, countries of origin, trading cycles, and trade ports, Tendata deeply dissects target markets. This enables the formulation of guiding marketing strategies, product strategies, and competitive strategies. It optimizes production and logistics systems, achieving precision targeting. (>>>Click to GET SAMPLE DATA ONLINE<<<)

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2. Customer Development

Customer development is a widely used function that involves finding potential high-quality customers through product keywords, HS codes, or filtering based on transaction frequency, scale, traded products, and trade partners. Coupled with contact information, this approach facilitates direct engagement with buyers.

Tendata combines trade data from 208 countries, business data from 198 countries and regions, and internet data from 141 countries to create a comprehensive database. With instantaneous search results, global target customers are presented in 0.01 seconds (>>>Click to Apply for Free Trial Data<<<).

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3. Customer Acquisition

Customer acquisition involves examining changes in customers' trade partners to understand whether they are engaging new suppliers and if there is a need to optimize current approaches. This can also be used to analyze peer-to-peer transactions and understand peer pricing. At times, data can reflect the customer situations of peers, aiding in customer acquisition.

Tendata's in-depth customer information assists in analyzing detailed buyer profiles and provides contact details for numerous high-level executives. This represents invaluable sales material (>>>Click to Apply for Free Trial Data<<<).

Today, Tendata from Shanghai shares the extended value brought by customs data. They eagerly anticipate gradually highlighting the value of utilizing these combinations of customs data in the subsequent data functionality services of global trade Link (>>>Click to Learn More<<<).

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