Looking for an easy way to ship your cargo to Guatemala? Choose the best freight forwarder to transport your goods to Guatemala safely and on time.
Exporting goods to Guatemala, whether it is for the first time, or on a regular basis, can be a challenging experience.
There are many elements to consider when shipping to a country such as Guatemala. If you are in Canada or the US and not entirely familiar with the Latin American market, you should consider a cargo shipping company that knows the business culture, the language, the customs regulations and has a proven track record of success when it comes to freight shipping to Guatemala.
WHAT CAN YOU EXPECT IN GUATEMALA?
Regulations in Guatemala are not only very different from the ones in the US or Canada, communication methods and business etiquette are also very distinct: ● Corporate culture in Guatemala is relationship-driven. Known as conservative and formal but friendly people, Guatemalans value trust, honor & camaraderie. They attach great importance to developing personal relationships rather than formal business connections which is the norm in the US or Canada. Therefore, it is important to develop easy going business “friendships”, as Guatemalans may be more loyal to you personally rather than to the company you represent. Third-party contacts are also a key to business success in Guatemala. An established person vouching for you and presenting your company will help you gain trust in the market. ● Guatemalans are very conscious about punctuality therefore being on time is important for business appointments as well as for social occasions. ● It is also important to consider the language as a possible barrier. Although most highly educated business executives speak English fluently, the average person speaks only Spanish. The Mayan language is also spoken by some Guatemalans.
QUICK FACTS ABOUT GUATEMALA (2018)
- Capital: Guatemala City
- Other Large Cities: Mixco, Villa Nueva, Quetzaltenang, Petapa, Escuintla
- Population: 17,247,807 (Urban Population: 51.1%)
- Official languages: Spanish
- Time Zone : GMT - 6
- Currency: Guatemala Quetzal (GTQ)
ECONOMIC SNAPSHOT ( Source: IMF - World Bank, 2018)
- GDP: 78.46 billion USD (GDP Growth: 3.1% / GDP per capita: 4,545 USD)
- Inflation Rate: 3.8%
- Unemployment Rate: 2.7%
- Total Imports of Goods: 19,69 billion USD
- FDI Inward Flow: 1,05 billion USD (1,3% of GDP)
- Ease of Doing Business Score (2019) : 98th / 190
WHY DOING BUSINESS WITH GUATEMALA IS THE RIGHT DECISION
Guatemala is the largest and one of the most stable economies in Central America. It offers a unique and dynamic background for companies looking to expand internationally. The country’s economic performance has been historically tied to its agriculture. However its recent market expansion has been focused on the production, manufacture and exportation of value-added products such as textile, apparel, processed food, medicaments and others. Guatemala’s proximity to Mexico, as well as the US and Canada via the USMCA (United States-Mexico-Canada Agreement), gives this country an important geographical advantage. Furthermore, the customs union with Honduras and El Salvador makes it possible for Guatemala to become a strategic location in the supply chain of different industries. The country is also the most populous in the region and Guatemala’s demand for imports is expected to increase in the next decade, offering opportunities for international exporters in different sectors such as food & beverage, apparel, or automotive. The need for shipping to and from Guatemala has been increasing exponentially during recent years. With LAC by your side, you will reinforce your company’s cargo shipping capability to Guatemala. Our experienced professionals are very familiar with the market requirements in Guatemala which is very important to avoid delays during the importation process. We provide you with all the necessary tools to break into the Guatemalan market, headache free.
GUATEMALA TRADE OVERVIEW
- MAIN IMPORTS: Petroleum, Telecommunication Equipment, Vehicles and Parts, Medicaments, Logistics Material, Polymers and Plastics
- MAIN EXPORTS: Fruits, Sugar Raw, Coffee, Palm Oil, Nuts, Textiles, Medicaments, Flowers
- INDUSTRIES WITH STRONG BUSINESS OPPORTUNITIES: Manufacturing, Agriculture Equipment, Mining, infrastructures and Construction, Hydroelectric and Geothermal Energy
- PRINCIPAL TRADING PARTNERS: USA, China, Mexico, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Canada, Europe (Netherlands, Italy, Germany), China, Colombia, South Korea