Macroeconomic Forecast Guetamala

Guatemala's trade deficit reached US$2.95bn over the first six months of 2011, as the value of imports remains more than double the size of total export value. In June 2011, imports totaled US$1.21bn and grew 28.1% y-o-y, far outpacing total exports of US$581mn which only expanded 19.5% y-o-y. As export growth remains subdued and import growth continues robustly, we believe our end-2011 trade deficit projection of US$6.0bn is still looking

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