Between last January and August it accounted for 70% of total sales.
In the year to September, sales in this sector grew by 26%.
Of the $7952.3 million traded between January and September this year, $5589.4 million were brought in by manufacturing, while traditional products generated $2362.9 million.
Improved trade access, coupled with investments from foreign technology companies in developing nations such as Guatemala, help to explain this increase.
Andres Castillo, president of Guatemala’s Chamber of Industry (CIG in Spanish), was quoted in an article on s21.com.gt: "The increased share of manufacturing is due to the fact that, over time, industry in general has been claiming a greater market share, which has contributed to the country’s development.
He noted that the dynamism in the sector fosters growth in economic rates, but said that it was still essential to work on increasing the country's economic growth, as Gross Domestic Product (GDP) should be growing at a rate of 6%, but is still at 3%."
Source: sigloxxi.com
More on this topic
December 2011
With an investment of about $5.4 million, the Taiwanese company, which specializes in the manufacture of printed folding cartons, has announced the start of operations in the country.
Goodbox Group, whose motto is "to enrich your idea, decorate your packaging", manufactures its products for world-renowned brands such as American Eagle, Diesel, Nine West and Hush Puppies.
February 2010
This fair, organized by Agexport, the Guatemalan Exporters Association, will take place on July 15 and 16.
MANUFEXPORT is the trade show in where manufacturing businessmen from Central America can showcase their products to an international audience, and open new markets for them.
July 2010
The fifth Manufexport event gathers 80 buyers from Central America, USA, the Dominican Republic and Germany in Antigua, Guatemala.
The conference gives 67 manufacturers of foods, drinks, plastics and cleaning products the opportunity to present their inventory.
The president of the organizing committee, Carlos Barillas, told Sigloxxi.com that, "each presenting company will take part in up to 20 rounds of negotiations.
July 2010
The organizers expect next year's business deals to be worth $50 million.
The 50 participating exhibitors and 57 international buyers held 962 business meetings.
The coordinator of the Guatemalan Exporters’ Association (AGEXPORT), Marco Tulio Recinos, told Sigloxxi.com that, "the event was a success" and added that, "markets were more diversified with 44% of buyers from the US but also representatives from the Dominican Republic and Mexico".
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