The economy of Guatemala advanced 3.3 percent year-on-year in the second quarter of 2018, compared to a 2 percent growth in the previous period. It was the fastest expansion since the second quarter of 2016, as output grew solidly in: transportation (7.8 percent vs 4.2 percent in Q1); finance and insurance (6.4 percent vs 4.1 percent); public administration (4.7 percent vs 3.2 percent); manufacturing (4 percent vs 2.3 percent); wholesale and retail trade (4 percent vs 3.7 percent) and agriculture (3.9 percent vs 1.7 percent). In contrast, the construction sector continued to contract steeply (-53.9 percent vs -54.8 percent). GDP Annual Growth Rate in Guatemala averaged 3.49 percent from 2002 until 2018, reaching an all time high of 7.70 percent in the second quarter of 2007 and a record low of -1.50 percent in the second quarter of 2009.
GDP Annual Growth Rate in Guatemala is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Guatemala to stand at 3.20 in 12 months time. In the long-term, the Guatemala GDP Annual Growth Rate is projected to trend around 3.40 percent in 2020, according to our econometric models.