Natural latex in primary forms market in Guatemala

Earlier Report Observations

Guatemala's natural latex sector is supported by extensive rubber forests cultivated by state and private companies, providing over 100,000 jobs. From 2018 to 2020, domestic market volume fluctuated, reaching 49.7 thousand tons in 2020. The global COVID-19 pandemic affected supply chains but also likely boosted demand for latex medical products.

In 2021, surging international demand for Guatemalan latex from markets like Italy, Mexico, and Argentina drove exports up to 76.1 thousand tons. This reduced domestic availability, shrinking the local market to 43.6 thousand tons. However, in 2022, expansion of the artisanal textile sector, which uses latex for specialized goods, helped lift domestic consumption to 46.3 thousand tons.

Growth continued in 2023 as the market volume rose to 57.0 thousand tons. This was fueled by further development of artisanal production and rising exports of handmade products, which increased latex demand. At the same time, Guatemalan latex maintained its appeal in international markets due to high quality.

Production natural latex in primary forms in Guatemala

In kind, 2017-2020, K t

From 2017 to 2020, Guatemala ranked 13th globally in the production of natural latex in primary forms.

Top producers of natural latex in primary forms, 2017-2020

World map of production of natural latex in primary forms, 2017-2020

In 2020, Guatemala produced 108.7 K t of natural latex in primary forms, marking an 8.5% increase from the previous year. Over the 2017-2020 period, production grew by 8.5%, with a compound annual growth rate (CAGR) of 2.8%. The most significant drop occurred in 2019, when production fell by 2.1%.

Annual dynamics of production in Guatemala in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Following a two-year decline, Guatemala's production of natural latex in primary forms rebounded. In 2020, the output was valued at 118.1 M $ US, reflecting a 14.1% year-over-year increase. However, between 2017 and 2020, overall production value decreased by 10.9%, equivalent to an annualized decline of 3.8%. The lowest value was recorded in 2019 at 103.5 M $ US, while the largest decline of 18.4% took place in 2018.

Annual dynamics of production in Guatemala in value, 2017-2020, M $ US

Exports natural latex in primary forms from Guatemala

Exports in kind, t

Guatemala's exports of natural latex in primary forms increased for the third consecutive year. In 2020, exports reached 60 126 t, showing a modest 9.6% rise compared to the previous year. Over the 2017-2020 period, exports grew by 17.2%, with a CAGR of 5.4%.

Annual dynamics of product's exports from Guatemala in kind, 2017-2020, t

From 2017 to 2020, Mexico, Colombia, and the United States were the top contributors to Guatemala's exports in kind. Mexico accounted for 43.0% of exports, Colombia for 16.1%, and the United States for 13.4%. Together, these three countries represented 72.5% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Guatemala in kind, 2017-2020

Exports in value, K $ US

Guatemala's export value of natural latex in primary forms increased for the second year in a row. In 2020, exports totaled 65 340 K $ US, up 15.3% year-over-year. However, over the 2017-2020 period, export value decreased by 3.7%, with a CAGR of -1.3%. The lowest value was recorded in 2018 at 55 369 K $ US, which also saw the largest decline of 18.4%.

Annual dynamics of product's exports from Guatemala in value, 2017-2020, K $ US

Between 2017 and 2020, Mexico, Colombia, and the United States consistently led Guatemala's export structure in value terms. Mexico held a 40.6% share, Colombia 17.7%, and the United States 12.8%. Collectively, these three markets accounted for 71.1% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Guatemala in value, 2017-2020

Imports natural latex in primary forms to Guatemala

Imports in kind, t

Import volumes showed significant volatility during this period. The lowest point was in 2018 at 0.1 t, while imports peaked in 2020 at 1 156 t, representing a 9 715-fold increase. In 2020, imports surged by 2,439.0% compared to the previous year. The largest decline occurred in 2018, with a drop of 99.8%, while the most substantial increase was in 2019, rising by 38,163.5%.

Annual dynamics of product's imports to Guatemala in kind, 2017-2020, t

From 2017 to 2020, Indonesia dominated Guatemala's imports in kind, capturing 74.8% of total flows. The remaining imports were spread across a variety of other markets.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Guatemala in kind, 2017-2020

Imports in value, K $ US

The import market exhibited notable volatility over the observed years. The minimum value was recorded in 2018 at 4 K $ US, while imports reached a peak of 1 272 K $ US in 2020, marking a 288-fold difference. In 2020, import value jumped by 1,943.2% compared to 2019. The largest decline of 96.6% also occurred in 2018.

Annual dynamics of product's imports to Guatemala in value, 2017-2020, K $ US

Throughout 2017-2020, Indonesia played a leading role in Guatemala's imports in value terms, accounting for 73.1% of total flows. Other markets combined made up the remainder.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Guatemala in value, 2017-2020