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Economy of Guatemala vs Malaysia compared: GDP & Debt

Updated on by Georank team

Guatemala has a GDP of $113B compared to $422B for Malaysia, ranking 68/197 and 38/197 by economy size, respectively.

Guatemala has $29.8B in government debt (26.3% of GDP), compared to $296B (70.1% of GDP) in Malaysia.

Guatemala vs Malaysia GDP by year

Guatemala
Malaysia
1x
Year GDP, current $
Guatemala Malaysia
2024 $113,199,581,158 $422,227,005,429
2023 $104,368,755,055 $399,949,418,753
2022 $95,641,446,501 $407,830,525,990
2021 $86,455,522,273 $373,784,553,030
2020 $77,719,468,248 $337,456,163,961
2019 $77,172,331,693 $365,177,721,022
2018 $73,328,356,008 $358,788,845,713
2017 $71,653,780,740 $319,109,094,160
2016 $66,053,408,206 $301,256,033,870
2015 $62,186,066,548 $301,355,266,965
2014 $57,852,159,008 $338,066,095,097
2013 $52,996,420,177 $323,276,235,524
2012 $49,593,929,487 $314,443,047,642
2011 $46,876,006,272 $297,951,668,675
2010 $40,676,578,423 $255,017,638,456
2009 $37,126,148,265 $202,257,453,037
2008 $38,503,720,224 $230,811,614,370
2007 $33,567,850,824 $193,549,569,478
2006 $29,744,246,827 $162,692,258,307
2005 $26,783,389,294 $143,534,405,819
2004 $23,577,298,095 $124,749,473,684
2003 $21,576,351,799 $110,202,368,421
2002 $20,444,205,991 $100,845,526,316
2001 $18,405,220,247 $92,783,947,368
2000 $19,288,929,030 $93,789,736,842
1999 $18,318,412,251 $79,148,421,053
1998 $19,395,491,993 $72,167,498,981
1997 $17,790,026,222 $100,005,323,302
1996 $15,674,835,615 $100,855,393,910
1995 $14,655,404,433 $88,705,342,903
1994 $12,983,233,311 $74,478,356,958
1993 $11,400,017,301 $66,894,966,969
1992 $10,440,781,588 $59,167,550,163
1991 $9,406,135,143 $49,143,148,094
1990 $7,650,196,845 $44,024,585,240
1989 $8,410,724,361 $38,847,965,293
1988 $7,841,602,824 $35,272,109,220
1987 $7,084,399,840 $32,181,210,158
1986 $7,231,963,516 $27,734,111,400
1985 $9,721,652,087 $31,199,633,353
1984 $9,470,000,100 $33,942,897,422
1983 $9,050,000,400 $30,347,442,111
1982 $8,716,999,700 $26,804,493,635
1981 $8,607,500,300 $25,004,285,792
1980 $7,878,700,000 $24,488,224,677
1979 $6,902,600,200 $21,213,264,962
1978 $6,070,600,200 $16,358,079,862
1977 $5,480,500,200 $13,139,488,633
1976 $4,365,300,200 $11,050,234,599
1975 $3,645,900,000 $9,298,800,799
1974 $3,161,499,900 $9,496,204,302
1973 $2,569,200,100 $7,662,902,678
1972 $2,101,300,000 $5,043,347,250
1971 $1,984,800,000 $4,244,395,956
1970 $1,904,000,000 $3,864,145,667
1969 $1,715,399,900 $3,664,552,041
1968 $1,610,500,000 $3,330,371,551
1967 $1,453,500,000 $3,188,924,677
1966 $1,390,700,000 $3,143,517,944
1965 $1,331,399,900 $2,956,337,669
1964 $1,299,099,900 $2,674,423,922
1963 $1,262,800,000 $2,510,110,348
1962 $1,143,600,000 $2,001,489,602
1961 $1,076,699,900 $1,901,856,123
1960 $1,043,599,900 $1,916,229,477

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/guatemala/malaysia | CC BY

GDP per capita in Guatemala vs Malaysia by year

Guatemala
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guatemala Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,150 $14,369 $11,874 $38,779
2023 $5,758 $13,745 $11,386 $36,467
2022 $5,359 $13,014 $11,755 $34,420
2021 $4,913 $11,825 $10,903 $29,823
2020 $4,478 $10,947 $9,958 $27,475
2019 $4,512 $10,756 $10,920 $28,934
2018 $4,353 $9,947 $10,902 $27,794
2017 $4,325 $9,560 $9,863 $26,416
2016 $4,060 $9,201 $9,477 $25,286
2015 $3,894 $8,934 $9,649 $24,526
2014 $3,689 $8,237 $11,013 $24,307
2013 $3,444 $7,700 $10,714 $23,161
2012 $3,287 $7,258 $10,601 $22,639
2011 $3,169 $6,784 $10,217 $21,324
2010 $2,805 $6,510 $8,899 $20,193
2009 $2,612 $6,377 $7,191 $18,923
2008 $2,763 $6,435 $8,372 $19,480
2007 $2,459 $6,238 $7,169 $18,617
2006 $2,225 $5,833 $6,158 $17,426
2005 $2,046 $5,486 $5,556 $16,371
2004 $1,841 $5,263 $4,939 $15,416
2003 $1,723 $5,081 $4,465 $14,387
2002 $1,669 $4,969 $4,184 $13,656
2001 $1,538 $4,822 $3,944 $13,072
2000 $1,649 $4,715 $4,084 $13,027
1999 $1,604 $4,557 $3,528 $11,980
1998 $1,741 $4,437 $3,294 $11,398
1997 $1,638 $4,287 $4,679 $12,469
1996 $1,481 $4,143 $4,837 $11,709
1995 $1,421 $4,055 $4,363 $10,720
1994 $1,293 $3,886 $3,758 $9,806
1993 $1,166 $3,756 $3,462 $9,018
1992 $1,096 $3,626 $3,141 $8,224
1991 $1,014 $3,473 $2,679 $7,583
1990 $848 $3,330 $2,469 $6,887
1989 $958 - $2,244 -
1988 $919 - $2,100 -
1987 $854 - $1,977 -
1986 $896 - $1,760 -
1985 $1,238 - $2,046 -
1984 $1,241 - $2,300 -
1983 $1,220 - $2,124 -
1982 $1,204 - $1,938 -
1981 $1,216 - $1,866 -
1980 $1,142 - $1,886 -
1979 $1,026 - $1,680 -
1978 $925 - $1,327 -
1977 $856 - $1,092 -
1976 $697 - $940 -
1975 $595 - $811 -
1974 $529 - $848 -
1973 $441 - $701 -
1972 $370 - $472 -
1971 $358 - $407 -
1970 $353 - $380 -
1969 $326 - $368 -
1968 $315 - $342 -
1967 $291.9 - $335 -
1966 $287.3 - $339 -
1965 $283 - $326 -
1964 $284.2 - $303 -
1963 $284.4 - $291.8 -
1962 $265.2 - $238.8 -
1961 $257.2 - $232.9 -
1960 $256.8 - $240.8 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/guatemala/malaysia | CC BY

Guatemala's GDP per capita is $6,150, ranking 112/197, compared to $11,874 in Malaysia, ranking 79/197. Adjusted for purchasing power (GDP per capita PPP), Guatemala ranks 116th at $14,369, while Malaysia ranks 60th at $38,779.

Economic indicators

Guatemala Malaysia
Gross domestic product
$113B
2024
$422B
2024
GDP rank
68/197
2024
38/197
2024
GDP growth
3.65%
2023-2024
5.11%
2023-2024
GDP per capita
$6,150
2024
$11,874
2024
GDP per capita rank
112/197
2024
79/197
2024
GDP per capita, PPP
$14,369
2024
$38,779
2024
GDP per capita PPP rank
116/197
2024
60/197
2024
Government debt
$29.8B
2024
$296B
2024
Debt-to-GDP ratio
26.3%
2024
70.1%
2024
Government debt per person
$1,619
2024
$8,322
2024
Government debt per person rank
124/185
2024
62/185
2024
Average annual personal income after taxes
$4,917
2026
$11,005
2026
Market capitalization of domestic companies n/a
$449B
2024
Number of billionaires n/a
19
2025
Income share by richest 10%
34.1%
2023
30.9%
2021
Income share by poorest 10%
1.6%
2023
2.3%
2021
Government expenditure, % of GDP
13.4%
2024
23.9%
2024
Consumer prices inflation
2.87%
2023-2024
1.83%
2023-2024
Central bank interest rate
4%
2025
2.75%
2025
Unemployment rate
1.9%
2024
3.93%
2022
Population
19049936
36512221

Spending and national debt comparison by year

Guatemala
Spending

Debt
Malaysia
Spending

Debt
1x
Year % of GDP
Guatemala Malaysia
Government spending Government debt Government spending Government debt
2024 13.4% 26.3% 23.9% 70.1%
2023 13.7% 27.2% 24.9% 69.7%
2022 14.3% 29% 24.6% 65.5%
2021 13.5% 30.6% 24.5% 69.2%
2020 15.6% 31.5% 25% 67.7%
2019 13.4% 26.4% 23.6% 57.1%
2018 13.2% 26.4% 22.8% 55.6%
2017 12.8% 25.1% 22% 54.4%
2016 12.6% 24.9% 22.9% 55.8%
2015 12.6% 24.8% 24.7% 57%
2014 13.6% 24.7% 26% 55.4%
2013 14% 25% 27.8% 55.7%
2012 14.2% 24.6% 28.5% 53.8%
2011 14.5% 23.8% 27.1% 51.9%
2010 14.5% 24% 26.6% 51.2%
2009 14.1% 22.8% 30.9% 50.4%
2008 13.3% 19.6% 26.9% 39.4%
2007 13.9% 20.8% 25.9% 39.3%
2006 14.2% 20.9% 25.6% 39.7%
2005 13.2% 20% 24.5% 40.8%
2004 12.9% 20.6% 25.9% 42%
2003 14.4% 19.8% 28.1% 41.4%
2002 13.1% 17.4% 27.1% 39.5%
2001 13.8% 19.1% 28.2% 38.1%
2000 13.6% 18% 25.6% 32.5%
1999 14.6% 22% 24.6% 34.4%
1998 13.2% 19% 23.1% 33.6%
1997 11.2% 18.5% 21.2% 29.6%
1996 9.85% 19.2% 22.4% 32.8%
1995 9.77% 21% 22.6% 38.2%
1994 - - 23.3% 43.7%
1993 - - 24.6% 51.1%
1992 - - 28.2% 59.1%
1991 - - 27.4% 67.3%
1990 - - 30.5% 74.1%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1999, retrieved 2026-02-20).

GeoRank.org/economy/guatemala/malaysia | CC BY

In 2024, Guatemala's government spending was $15.1B, accounting for 13.4% of its GDP, while Malaysia spent $101B, or 23.9% of GDP.

Debt-to-GDP ratio is 26.3% in Guatemala and 70.1% in Malaysia, ranking 161/185 and 58/185, respectively.

Government deficit by year

Deficit/surplus
Guatemala

Malaysia
1x
Year Deficit/surplus, % of GDP
Guatemala Malaysia
2024 -0.96% -3.95%
2023 -1.25% -3.97%
2022 -1.7% -4.56%
2021 -1.16% -6.03%
2020 -4.91% -4.9%
2019 -2.24% -2.01%
2018 -1.88% -2.64%
2017 -1.38% -2.41%
2016 -1.11% -2.6%
2015 -1.47% -2.55%
2014 -1.92% -2.63%
2013 -2.16% -3.48%
2012 -2.42% -3.1%
2011 -2.8% -3.57%
2010 -3.28% -4.32%
2009 -3.12% -5.88%
2008 -1.57% -3.4%
2007 -1.4% -2.57%
2006 -1.88% -2.6%
2005 -1.67% -2.83%
2004 -1.05% -3.35%
2003 -2.47% -4.6%
2002 -1.03% -3.96%
2001 -2% -4.36%
2000 -1.88% -6.05%
1999 -2.96% -3%
1998 -2.29% -0.63%
1997 -0.79% 4.84%
1996 0.04% 3.27%
1995 -0.53% 3.1%
1994 - 5.45%
1993 - 3.44%
1992 - 1.81%
1991 - 1.6%
1990 - 0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/guatemala/malaysia | CC BY

In 2024, Guatemala's government deficit, the difference between spending and revenue, was $1.09B, equivalent to 0.96% of GDP. This compares to Malaysia's deficit of $16.7B, or 3.95% of GDP.

Over the past 30 years, Guatemala recorded a fiscal deficit in 29 of those years, while Malaysia ran a deficit in 27 years. On average, Guatemala posted an annual deficit equal to 1.84% of GDP, compared to deficit of 2.83% of GDP for Malaysia.

Inflation comparison by year

Inflation
Guatemala

Malaysia
1x
Year Consumer prices inflation
Guatemala Malaysia
2024 2.87% 1.83%
2023 6.21% 2.49%
2022 6.89% 3.38%
2021 4.26% 2.48%
2020 3.21% -1.14%
2019 3.7% 0.66%
2018 3.75% 0.88%
2017 4.42% 3.87%
2016 4.45% 2.09%
2015 2.39% 2.1%
2014 3.42% 3.14%
2013 4.34% 2.11%
2012 3.78% 1.66%
2011 6.21% 3.17%
2010 3.86% 1.62%
2009 1.86% 0.58%
2008 11.4% 5.44%
2007 6.82% 2.03%
2006 6.56% 3.61%
2005 9.11% 2.98%
2004 7.58% 1.42%
2003 5.6% 1.09%
2002 8.13% 1.81%
2001 7.29% 1.42%
2000 5.98% 1.53%
1999 5.21% 2.74%
1998 6.61% 5.27%
1997 9.23% 2.66%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/guatemala/malaysia | CC BY

Over the past 28 years, Guatemala has recorded an average annual inflation rate of 5.54%, compared with 2.25% in Malaysia. In 2024, inflation was 2.87% in Guatemala and 1.83% in Malaysia.

Top exports between countries

Guatemala
Export category Export value
Processed food, beverages & tobacco $12.5M
Raw agricultural goods $7.58M
Raw materials & minerals $2.21M
Metals $408K
Machinery & equipment $334K
Textiles & consumer goods $184K
Chemicals & pharma $60K
Wood & paper products $9K
Malaysia
Export category Export value
Processed food, beverages & tobacco $19M
Machinery & equipment $17.5M
Raw materials & minerals $13.7M
Textiles & consumer goods $10.1M
Chemicals & pharma $8.88M
Metals $7.66M
Wood & paper products $4.18M
Precious metals & jewellery $1.27M
Miscellaneous $199K
Raw agricultural goods $42K

Balance of trade

Guatemala Malaysia
Current account balance
$3.27B
2024
$7.15B
2024
Current account balance ranking
38/190
2024
26/190
2024
Current account balance, % of GDP
+2.89%
2024
+1.69%
2024
Goods imports
$29.1B
2024
$223B
2024
Goods exports
$13.3B
2024
$248B
2024
Service imports
$6.45B
2024
$56.4B
2024
Service exports
$4.65B
2024
$53.4B
2024
Imports of goods and services, % of GDP
31.5%
2024
66%
2024
Exports of goods and services, % of GDP
15.9%
2024
71.3%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Guatemala Malaysia
Economic freedom 63.5 68
Economic freedom ranking 79/197 51/197
Property rights 39.1 62.7
Government integrity 25.2 52.9
Judicial effectiveness 26.1 63.4
Tax burden 91.3 83.5
Government spending 94.3 82
Fiscal health 95.9 62.5
Business freedom 65.7 79.6
Labor freedom 52.5 55.4
Monetary freedom 77.3 80.8
Trade freedom 74.6 83
Investment freedom 70 60
Financial freedom 50 50

Economic freedom comparison by year

Guatemala
Malaysia
1x
Year Economic freedom index
Guatemala Malaysia
2026 63.5 68
2025 63.4 67.1
2024 62.4 65.7
2023 62.7 67.3
2022 63.2 68.1
2021 64 74.4
2020 64 74.7
2019 62.6 74
2018 63.4 74.5
2017 63 73.8
2016 61.8 71.5
2015 60.4 70.8
2014 61.2 69.6
2013 60 66.1
2012 60.9 66.4
2011 61.9 66.3
2010 61 64.8
2009 59.4 64.6
2008 59.8 63.9
2007 60.5 63.8
2006 59.1 61.6
2005 59.5 61.9
2004 59.6 59.9
2003 62.3 61.1
2002 62.3 60.1
2001 65.1 60.2
2000 64.3 66
1999 66.2 68.9
1998 65.8 68.2
1997 65.7 66.8
1996 63.7 69.9
1995 62 71.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/guatemala/malaysia | CC BY

The Economic Freedom Index for Guatemala is 63.5, ranking 79/197, compared to 68 for Malaysia, ranking 51/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guatemala Malaysia
Services, % of GDP
61.8%
2024
53.7%
2024
Industry, % of GDP
21.7%
2024
37%
2024
Agriculture, forestry, and fishing, % of GDP
9.78%
2024
8.13%
2024
GNI, Atlas method
$106B
2024
$414B
2024
GNI per capita, PPP
$14,170
2024
$37,450
2024
Total reserves including gold
$24.4B
2024
$116B
2024
Total reserves ranking
57/177
2024
24/177
2024
Net foreign direct investment
-$983M
2024
-$2.55B
2024
Net inflows of foreign direct investment
$1.85B
2024
$15.6B
2024
Net outflows of foreign direct investment
$865M
2024
$13B
2024
Servicing debt to the IMF, % of GNI
1.75%
2024
n/a
Poverty at national poverty lines
56%
2023
5.8%
2023
Gross capital formation, % of GDP
16.7%
2024
22%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/guatemala/malaysia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2021–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1995–1999, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.