e), white, and light blue with the coat of arms centered in the
white band; the coat of arms includes a green and red quetzal (the
national bird) and a scroll bearing the inscription LIBERTAD 15 DE
SEPTIEMBRE DE 1821 (the original date of independence from Spain)
all superimposed on a pair of crossed rifles and a pair of crossed
swords and framed by a wreath

Guatemala Economy

Economy - overview: The agricultural sector accounts for about
one-fourth of GDP, two-thirds of exports, and half of the labor
force. Coffee, sugar, and bananas are the main products. Former
President ARZU (1996-2000) worked to implement a program of economic
liberalization and political modernization. The 1996 signing of the
peace accords, which ended 36 years of civil war, removed a major
obstacle to foreign investment. In 1998, Hurricane Mitch caused
relatively little damage to Guatemala compared to its neighbors.
Ongoing challenges include increasing government revenues,
negotiating further assistance from international donors, and
increasing the efficiency and openness of both government and
private financial operations. Despite low international prices for
Guatemala's main commodities, the economy grew by 3% in 2000 and is
forecast to grow by 4% in 2001. Guatemala, along with Honduras and
El Salvador, recently concluded a free trade agreement with Mexico
and has moved to protect international property rights. However, the
PORTILLO administration has undertaken a review of privatizations
under the previous administration, thereby creating some uncertainty
among investors.

GDP: purchasing power parity - $46.2 billion (2000 est.)

GDP - real growth rate: 3% (2000 est.)

GDP - per capita: purchasing power parity - $3,700 (2000 est.)

GDP - composition by sector: agriculture: 23%

industry: 20%

services: 57% (2000 est.)

Population below poverty line: 60% (2000 est.)

Household income or consumption by percentage share: lowest 10%:
0.6%

highest 10%: 46.6% (1989)

Inflation rate (consumer prices): 6% (2000 est.)

Labor force: 4.2 million (1999 est.)

Labor force - by occupation: agriculture 50%, industry 15%, services
35% (1999 est.)

Unemployment rate: 7.5% (1999 est.)

Budget: revenues: $2.2 billion

expenditures: $1.8 billion, including capital expenditures of $NA
(2001 est.)

Industries: sugar, textiles and clothing, furniture, chemicals,
petroleum, metals, rubber, tourism

Industrial production gro