Guatemala's GDP changed from approximately $7B 718M in 1980 to $110B 35M in 2024, showing an overall 1325.7% sharply increased during the period.
The lowest GDP was recorded in 1986 at $5B 921M, and the highest in 2024 at $110B 35M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 6.2%.
For comparison, the average annual growth rate of Honduras was 5.2%, and that of Mexico was 4.9%.
Guatemala GDP from 1980 to 2024
The total market value of goods and services produced annually in Guatemala.
Overview of Guatemala's GDP (1980–2024)
The Gross Domestic Product (GDP) of Guatemala recorded a 1325.7% sharply increased from 1980 to 2024.
The average GDP during this period was $34B 804M, and the median was $21B 924M.
GDP fluctuated within a range of $104B 114M, with a standard deviation of $29B 684M.
The average annual change was $2B 93M.
Highest and Lowest GDP Records
- Lowest GDP: 1986, $5B 921M
- Highest GDP: 2024, $110B 35M
- Most Recent GDP: 2024, $110B 35M
Notable Annual GDP Changes
- 2022: Significant increase in GDP
- 1986: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Guatemala's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $77B 156M → $77B 714M
- Outcome: remained stable
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $35B 28M → $37B 997M
- Outcome: increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $18B 124M → $19B 735M
- Outcome: increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $16B 982M → $18B 461M
- Outcome: increased
Key Economic Indicators of Guatemala (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 7B 718M | $ 1,070.28 | $ 2,661.21 | $ 19B 190M | 3.7 % | -2.116 % | 13.75 % | 0 % | 7M 211K people |
1981 | $ 8B 430M | $ 1,140.21 | $ 2,859.05 | $ 21B 141M | 0.644 % | -6.793 % | 10.39 % | 0 % | 7M 394K people |
1982 | $ 8B 539M | $ 1,126.19 | $ 2,855.59 | $ 21B 652M | -3.542 % | -4.674 % | 9.48 % | 0 % | 7M 582K people |
1983 | $ 8B 864M | $ 1,139.96 | $ 2,820.37 | $ 21B 931M | -2.528 % | -2.526 % | 8.95 % | 0 % | 7M 776K people |
1984 | $ 9B 276M | $ 1,163.06 | $ 2,863.70 | $ 22B 839M | 0.51 % | -4.069 % | 7.84 % | 0 % | 7M 975K people |
1985 | $ 10B 951M | $ 1,338.72 | $ 2,863.06 | $ 23B 420M | -0.6 % | -2.249 % | 7.80 % | 0 % | 8M 180K people |
1986 | $ 5B 921M | $ 705.75 | $ 2,850.55 | $ 23B 915M | 0.1 % | -0.297 % | 9.35 % | 0 % | 8M 390K people |
1987 | $ 6B 857M | $ 796.96 | $ 2,950.44 | $ 25B 385M | 3.579 % | -6.453 % | 5.68 % | 0 % | 8M 604K people |
1988 | $ 7B 426M | $ 841.77 | $ 3,095.03 | $ 27B 303M | 3.892 % | -5.575 % | 7.14 % | 0 % | 8M 822K people |
1989 | $ 8B 561M | $ 946.76 | $ 3,261.74 | $ 29B 492M | 3.943 % | -4.288 % | 8.55 % | 0 % | 9M 42K people |
1990 | $ 7B 535M | $ 813.35 | $ 3,405.18 | $ 31B 545M | 3.101 % | -2.826 % | 12.14 % | 0 % | 9M 264K people |
1991 | $ 9B 174M | $ 967.34 | $ 3,542.06 | $ 33B 590M | 3 % | -2.002 % | 12.16 % | 0 % | 9M 483K people |
1992 | $ 10B 138M | $ 1,044.29 | $ 3,701.50 | $ 35B 936M | 4.6 % | -6.963 % | 11.39 % | 0 % | 9M 709K people |
1993 | $ 11B 45M | $ 1,111.33 | $ 3,827.34 | $ 38B 39M | 3.4 % | -6.353 % | 11.70 % | 0 % | 9M 939K people |
1994 | $ 12B 482M | $ 1,227.02 | $ 3,952.97 | $ 40B 211M | 3.5 % | -5.01 % | 10.98 % | 0 % | 10M 172K people |
1995 | $ 14B 50M | $ 1,349.85 | $ 4,117.81 | $ 42B 860M | 4.4 % | -4.071 % | 12.05 % | 0.531 % | 10M 408K people |
1996 | $ 14B 992M | $ 1,408.11 | $ 4,214.18 | $ 44B 867M | 2.8 % | -3.012 % | 11.34 % | 1.204 % | 10M 647K people |
1997 | $ 16B 982M | $ 1,559.74 | $ 4,363.84 | $ 47B 512M | 4.1 % | -3.73 % | 12.15 % | -0.001 % | 10M 888K people |
1998 | $ 18B 461M | $ 1,658.17 | $ 4,513.95 | $ 50B 256M | 4.6 % | -5.629 % | 13.29 % | -1.138 % | 11M 134K people |
1999 | $ 17B 422M | $ 1,529.95 | $ 4,641.43 | $ 52B 853M | 3.7 % | -5.889 % | 13.55 % | -1.569 % | 11M 387K people |