Guatemala-Mexico Bilateral Trade Analysis 2023
Complete trade statistics: $3.93B total volume •Guatemala deficit: $2.59B
Guatemala → Mexico
$673.52M
Exports (2023)
Mexico → Guatemala
$3.26B
Imports (2023)
Trade Balance
$2.59B
Deficit for Guatemala
Total Trade
$3.93B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Guatemala and Mexico. Green line shows exports from Guatemala, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Guatemala-Mexico commercial relationship and competitive positioning in global markets.
Guatemala → Mexico Exports
Export Market Intelligence
🎯 Strategic Export Focus
Guatemala's export portfolio to Mexico demonstrates strategic specialization, with vegetable oils: palm oil and its fractions, crude, not chemically modified representing a key competitive advantage in this bilateral market.
Mexico → Guatemala Imports
Import Dependency Profile
📦 Import Strategy Analysis
Guatemala's import pattern from Mexico reveals significant dependencyin electrical energy, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Guatemala demonstrates competitive strength in exportingvegetable oils: palm oil and its fractions, crude, not chemically modified to Mexico, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $3.93B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Guatemala-Mexico Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $3.93 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Guatemala maintains a deficit of $2.59 billion
- Export Focus: Guatemala's primary exports include vegetable oils: palm oil and its fractions, crude, not chemically modified, sugars: sucrose, chemically pure, in solid form, not containing added flavouring or colouring matter, rubber: technically specified natural rubber (tsnr), in primary forms or in plates, sheets or strip (excluding latex and smoked sheets)
- Import Dependencies: Key imports from Mexico include electrical energy, reception apparatus for television, whether or not incorporating radio-broadcast receivers or sound or video recording or reproducing apparatus: incorporating a colour video display or screen, insulated electric conductors: for a voltage not exceeding 1000 volts, not fitted with connectors
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $3.93B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Guatemala leveraging its comparative advantages in vegetable oils: palm oil and its fractions, crude, not chemically modified.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Guatemala's specialization in vegetable oils: palm oil and its fractions, crude, not chemically modifiedcomplements Mexico's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in electrical energy.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $3.93B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $3.93B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $3.93 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in vegetable oils: palm oil and its fractions, crude, not chemically modified and electrical energy demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Guatemala's trade deficit of $2.59 billion impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Guatemala and Mexico represents a total trade volume of $3.93 billion in 2023. This partnership demonstrates an unfavorable trade balance for Guatemala, with imports exceeding exportsby $2.59 billion.
Export Strengths
Guatemala's exports to Mexico total $673.52 million, with competitive advantages in vegetable oils: palm oil and its fractions, crude, not chemically modified, representing $98.88M or14.7% of bilateral exports.
Import Dependencies
Imports from Mexico amount to $3.26 billion, highlighting economic interdependence in electrical energy, with Electrical energy comprising3.9% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Guatemala's strategic sourcing from Mexico. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Guatemala and Mexico in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023