Guatemala – Fast Facts
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Guatemala is a lower middle-income economies coming under the Latin American and Caribbean region as to the classification made by the World Bank on the basis of income and region for the year 2006.
Both the services sector as well as agricultural sector plays important roles in the country’s economy. The fertile soil plays a significant role for the agriculture development. As to statistics, services sector constitutes around 60% of the total GDP followed by agricultural sector.
Guatemala is a lower middle-income economies coming under the Latin American and Caribbean region as to the classification made by the World Bank on the basis of income and region for the year 2006.
Both the services sector as well as agricultural sector plays important roles in the country’s economy. The fertile soil plays a significant role for the agriculture development. As to statistics, services sector constitutes around 60% of the total GDP followed by agricultural sector.
Major agricultural products of the country are sugar, maize, coffee, bananas, and cattle. Important industries are textiles, clothing, chemicals and petroleum. Its economy is largely benefited through the exports of electricity and petroleum products.
