According to officials from the Bank of Guatemala, the increase is mainly explained by the increase in the price of commodities, especially sugar, bananas, coffee and cardamom oil.
In general, higher export volumes were also reported, sugar being the main exception, due to lower production.
Among trading partners, the United States remained in the lead with a total of $1,825 million and a rise of 31% compared to the first 5 months of 2010, while Central America bought $1,124 million worth, 21% more than in 2010.
Among the major export destinations, the only one who experienced a decline was Mexico, where $189 million worth was sold, down 11%.
Details of the main items:
Traditional Exports
Coffee: U.S. $638.2 million (+62.6%)
Sugar: U.S. $392 million (-9.6%)
Banana: U.S. $206 million (+34.3%)
Cardamom: U.S. $170.6 million (+38%)
Oil: U.S. $132.3 million (+34.6%)
Non-Traditional Exports
Clothing: U.S. $ 504.6 million (+9.9%)
Minerals: U.S. $ 312.6 million (+73.7%)
Fruits and preparations: U.S. $ 205.5 million (+18%)
Rubber U.S. $ 149 million (+97.5%)
Food products: U.S. $ 148.4 million (+43.2%)
Source: elperiodico.com.gt
More on this topic
May 2012
Almost 50% of banana exports in 2011, $350.9 million worth, went to the U.S.
At the end of 2011 the country had exported a total of $749.7 million, 6% higher than the $706.1 in 2010.
The main destinations for Costa Rican banana exports were the USA with 47% of total exports, followed by Britain with 13%.
August 2011
In the first six months of the year, exports totaled $5,400 million.
The amounts sold abroad exceeded 25% of the $4,300 million from the same period in 2010, according to the Bank of Guatemala.
"Foreign exchange earnings from the sale of traditional products increased by 25.9 percent from $1.4 billion in the first half of 2010 to $1.7 billion during the same period this year.
May 2011
Foreign sales grew by 28% in the first quarter compared to the same period of 2010.
The high prices of commodities in international markets is one reason behind the increase in exports in Guatemala.
In total, the country exported more than $2700 million in the first three months of the year.
February 2012
Exports totalled $448.7 million in January 2012, a growth of 9.8% in value and 12.6% in volume compared to January 2011.
Included in the total exports are those of traditional products, whose sales grew at an annual rate of 39.1%, reported the Central Reserve Bank (BCR) of El Salvador.
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