In 2023, Guatemala's GDP composition by sector highlighted a strong services base at 27.61%, with wholesale, retail trade, restaurants, and hotels closely following at 27.11%. The sectors of mining, manufacturing, and utilities made up 22.79%, while agriculture contributed 10.72%. Transport, storage, and communication accounted for 7.89%, and construction rounded off the composition at 3.88%. Over the last two years, there has been a moderate year-on-year percentage variation, pointing to gradual changes in economic structure. The last five-year CAGR also indicates stable sectorial contributions with slight shifts.
Future trends to watch include potential growth in the services sector driven by digital transformation and increased tourism. The expansion in mining and manufacturing could also be notable, supported by foreign investments. Agricultural productivity improvements and continued infrastructure development could shift these sectors' contributions to GDP.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 27.61 | 2016 | |
| 2 | 2 Wholesale, retail trade, restaurants and hotels | 27.11 | 2016 | |
| 3 | 3 Mining, Manufacturing, Utilities | 22.79 | 2016 | |
| 4 | 4 Agriculture, hunting, forestry, fishing | 10.72 | 2016 | |
| 5 | 5 Transport, storage and communication | 7.89 | 2016 | |
| 6 | 6 Construction | 3.88 | 2016 |
