AGEXPORT’s Market Development and Trade Promotion department developed a methodology to determine key international markets for Guatemalan products and services and focus its institutional efforts toward these markets. The methodology searches for markets with a steady increase in imports from Guatemala using trade analysis tools. The study serves as a starting point for AGEXPORT to develop projects to increase links between supply and demand as well as developing strategic alliances with institutions outside Guatemala to capitalize trade opportunities.
On our fourth edition of the “Best Markets, Products and Services” study, we prioritized 27 markets around the world with potential for Guatemalan products and services. Of these, 18 are key countries and nine others are specific states of the United States. Crossing these 27 markets with 351 products we were able to identify more than 900 trade opportunities for Guatemala; said Mr. Amador Carballido, AGEXPORT’s CEO.
Among the markets where Guatemala has potential to sell goods and services are the United States, Canada and Mexico, along with other countries in South America like Chile, Bolivia and Peru.
Guatemala has a wide range of products and services with strong potential for international markets. The most important ones include roasted coffee, powder cocoa, coconut oil, cucumbers, prepared and canned mushrooms, mustard, essential oils, roses, rubber gloves, pepper, paraffins, soaps, chemical substances, among others; said Mrs. Paola Álvarez, manager of AGEXPORT’s Market Development and Trade Promotion department.
With a 25% Latino population, Florida is currently the most important US state for Guatemalan products. Main products for this market include seeds, fruit pulp, soaps, papayas, pumpkins and plant cuttings. For the first time, this document also detail experiences and best practices from Latin American leaders, including Argentina, Chile, Colombia, Ecuador, Mexico and Peru; said Mrs. Álvarez.
Among other improvements of the 2020 edition of the “Best Markets, Products and Services” study, it details the opportunities for disruptive products like organic shrimps, natural sweeteners, plant-based meat, locust beans, among others.
“Best Markets, Products and Services 2020” provides a useful tool to choose different markets for Guatemalan products. Is a live document that combines the best Guatemalan products with the best destination markets considering not only trade data but also macroeconomic conditions, qualitative variables and the size of these markets: said Mrs. Álvarez.