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Economy of Guatemala vs Saudi Arabia compared: GDP & Debt

Updated on by Georank team

Guatemala has a GDP of $113B compared to $1.24T for Saudi Arabia, ranking 68/197 and 18/197 by economy size, respectively.

Guatemala has $29.8B in government debt (26.3% of GDP), compared to $324B (26.2% of GDP) in Saudi Arabia.

Guatemala vs Saudi Arabia GDP by year

Guatemala
Saudi Arabia
1x
Year GDP, current $
Guatemala Saudi Arabia
2024 $113,199,581,158 $1,239,804,533,333
2023 $104,368,755,055 $1,218,584,533,333
2022 $95,641,446,501 $1,239,075,200,000
2021 $86,455,522,273 $982,661,066,667
2020 $77,719,468,248 $767,951,200,000
2019 $77,172,331,693 $888,890,133,333
2018 $73,328,356,008 $886,564,800,000
2017 $71,653,780,740 $741,266,133,333
2016 $66,053,408,206 $689,279,466,667
2015 $62,186,066,548 $693,414,400,000
2014 $57,852,159,008 $787,153,066,667
2013 $52,996,420,177 $769,755,733,333
2012 $49,593,929,487 $751,921,333,333
2011 $46,876,006,272 $680,660,800,000
2010 $40,676,578,423 $528,207,466,667
2009 $37,126,148,265 $429,097,866,667
2008 $38,503,720,224 $519,796,800,000
2007 $33,567,850,824 $415,964,509,673
2006 $29,744,246,827 $376,900,133,511
2005 $26,783,389,294 $328,459,608,764
2004 $23,577,298,095 $258,742,133,333
2003 $21,576,351,799 $215,807,733,333
2002 $20,444,205,991 $189,605,866,667
2001 $18,405,220,247 $184,137,600,000
2000 $19,288,929,030 $189,514,933,333
1999 $18,318,412,251 $161,717,066,667
1998 $19,395,491,993 $146,775,466,667
1997 $17,790,026,222 $165,963,684,913
1996 $15,674,835,615 $158,662,483,311
1995 $14,655,404,433 $143,343,124,166
1994 $12,983,233,311 $135,174,899,866
1993 $11,400,017,301 $132,967,957,276
1992 $10,440,781,588 $137,087,850,467
1991 $9,406,135,143 $132,223,230,975
1990 $7,650,196,845 $117,630,173,565
1989 $8,410,724,361 $95,344,459,279
1988 $7,841,602,824 $88,256,074,766
1987 $7,084,399,840 $85,695,861,148
1986 $7,231,963,516 $86,961,922,765
1985 $9,721,652,087 $103,897,846,494
1984 $9,470,000,100 $119,624,858,116
1983 $9,050,000,400 $129,171,635,311
1982 $8,716,999,700 $153,240,313,858
1981 $8,607,500,300 $184,291,360,139
1980 $7,878,700,000 $164,539,660,725
1979 $6,902,600,200 $111,858,444,786
1978 $6,070,600,200 $80,266,516,687
1977 $5,480,500,200 $74,188,986,586
1976 $4,365,300,200 $64,005,665,722
1975 $3,645,900,000 $46,773,208,643
1974 $3,161,499,900 $45,412,957,746
1973 $2,569,200,100 $14,947,435,499
1972 $2,101,300,000 $9,664,267,087
1971 $1,984,800,000 $7,184,806,909
1970 $1,904,000,000 $5,377,333,333
1969 $1,715,399,900 $4,485,777,644
1968 $1,610,500,000 $4,187,777,711
1967 $1,453,500,000 $3,257,022,223
1966 $1,390,700,000 $2,920,555,557
1965 $1,331,399,900 $2,647,955,558
1964 $1,299,099,900 $2,371,808,713
1963 $1,262,800,000 $2,207,393,172
1962 $1,143,600,000 $2,130,606,532
1961 $1,076,699,900 $1,920,811,284
1960 $1,043,599,900 $1,748,124,064

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

GeoRank.org/economy/guatemala/saudi-arabia | CC BY

GDP per capita in Guatemala vs Saudi Arabia by year

Guatemala
GDP per capita

GDP per capita, PPP
Saudi Arabia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guatemala Saudi Arabia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,150 $14,369 $35,122 $71,375
2023 $5,758 $13,745 $36,157 $71,565
2022 $5,359 $13,014 $38,510 $71,968
2021 $4,913 $11,825 $31,921 $62,690
2020 $4,478 $10,947 $24,339 $47,518
2019 $4,512 $10,756 $29,567 $59,560
2018 $4,353 $9,947 $29,360 $59,378
2017 $4,325 $9,560 $23,929 $53,120
2016 $4,060 $9,201 $22,268 $49,937
2015 $3,894 $8,934 $23,256 $53,931
2014 $3,689 $8,237 $27,805 $62,578
2013 $3,444 $7,700 $27,865 $62,203
2012 $3,287 $7,258 $28,733 $65,034
2011 $3,169 $6,784 $27,127 $64,125
2010 $2,805 $6,510 $22,028 $58,829
2009 $2,612 $6,377 $17,718 $54,787
2008 $2,763 $6,435 $22,320 $57,236
2007 $2,459 $6,238 $18,596 $55,030
2006 $2,225 $5,833 $17,564 $54,639
2005 $2,046 $5,486 $15,976 $53,548
2004 $1,841 $5,263 $13,154 $51,225
2003 $1,723 $5,081 $11,487 $48,078
2002 $1,669 $4,969 $10,586 $45,466
2001 $1,538 $4,822 $10,805 $47,381
2000 $1,649 $4,715 $11,715 $48,644
1999 $1,604 $4,557 $10,452 $47,495
1998 $1,741 $4,437 $9,836 $48,867
1997 $1,638 $4,287 $11,545 $48,796
1996 $1,481 $4,143 $11,472 $48,569
1995 $1,421 $4,055 $10,786 $48,052
1994 $1,293 $3,886 $10,602 $48,904
1993 $1,166 $3,756 $10,885 $49,503
1992 $1,096 $3,626 $11,730 $50,355
1991 $1,014 $3,473 $11,847 $49,295
1990 $848 $3,330 $11,055 $46,214
1989 $958 - $9,414 -
1988 $919 - $9,165 -
1987 $854 - $9,386 -
1986 $896 - $10,078 -
1985 $1,238 - $12,745 -
1984 $1,241 - $15,541 -
1983 $1,220 - $17,810 -
1982 $1,204 - $22,454 -
1981 $1,216 - $28,703 -
1980 $1,142 - $27,206 -
1979 $1,026 - $19,612 -
1978 $925 - $14,914 -
1977 $856 - $14,595 -
1976 $697 - $13,313 -
1975 $595 - $10,266 -
1974 $529 - $10,503 -
1973 $441 - $3,640 -
1972 $370 - $2,474 -
1971 $358 - $1,929 -
1970 $353 - $1,509 -
1969 $326 - $1,313 -
1968 $315 - $1,276 -
1967 $291.9 - $1,032 -
1966 $287.3 - $961 -
1965 $283 - $904 -
1964 $284.2 - $840 -
1963 $284.4 - $812 -
1962 $265.2 - $813 -
1961 $257.2 - $760 -
1960 $256.8 - $718 -

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

GeoRank.org/economy/guatemala/saudi-arabia | CC BY

Guatemala's GDP per capita is $6,150, ranking 112/197, compared to $35,122 in Saudi Arabia, ranking 33/197. Adjusted for purchasing power (GDP per capita PPP), Guatemala ranks 116th at $14,369, while Saudi Arabia ranks 24th at $71,375.

Economic indicators

Guatemala Saudi Arabia
Gross domestic product
$113B
2024
$1.24T
2024
GDP rank
68/197
2024
18/197
2024
GDP growth
3.65%
2023-2024
2%
2023-2024
GDP per capita
$6,150
2024
$35,122
2024
GDP per capita rank
112/197
2024
33/197
2024
GDP per capita, PPP
$14,369
2024
$71,375
2024
GDP per capita PPP rank
116/197
2024
24/197
2024
Government debt
$29.8B
2024
$324B
2024
Debt-to-GDP ratio
26.3%
2024
26.2%
2024
Government debt per person
$1,619
2024
$9,185
2024
Government debt per person rank
124/185
2024
58/185
2024
Average annual personal income after taxes
$4,917
2026
$23,076
2026
Market capitalization of domestic companies n/a
$2.73T
2024
Number of millionaires n/a
351,855
2025
Number of billionaires n/a
15
2025
Income share by richest 10%
34.1%
2023
n/a
Income share by poorest 10%
1.6%
2023
n/a
Government expenditure, % of GDP
13.4%
2024
29.6%
2024
Consumer prices inflation
2.87%
2023-2024
1.69%
2023-2024
Central bank interest rate
4%
2025
4.25%
2025
Unemployment rate
1.9%
2024
3.52%
2024
Population
19049936
36734925

Spending and national debt comparison by year

Guatemala
Spending

Debt
Saudi Arabia
Spending

Debt
1x
Year % of GDP
Guatemala Saudi Arabia
Government spending Government debt Government spending Government debt
2024 13.4% 26.3% 29.6% 26.2%
2023 13.7% 27.2% 28.3% 23%
2022 14.3% 29% 25.3% 21.3%
2021 13.5% 30.6% 28.2% 25.5%
2020 15.6% 31.5% 37.4% 29.7%
2019 13.4% 26.4% 31.8% 20.3%
2018 13.2% 26.4% 32.4% 16.8%
2017 12.8% 25.1% 30.9% 15.9%
2016 12.6% 24.9% 33.3% 12.2%
2015 12.6% 24.8% 38.5% 5.47%
2014 13.6% 24.7% 38.6% 1.5%
2013 14% 25% 34.5% 2.08%
2012 14.2% 24.6% 32.5% 2.97%
2011 14.5% 23.8% 32.4% 5.31%
2010 14.5% 24% 33% 8.43%
2009 14.1% 22.8% 37.1% 14%
2008 13.3% 19.6% 26.7% 12.1%
2007 13.9% 20.8% 29.5% 17.1%
2006 14.2% 20.9% 27.3% 25.8%
2005 13.2% 20% 28.2% 37.3%
2004 12.9% 20.6% 31.1% 62.9%
2003 14.4% 19.8% 33.1% 81.6%
2002 13.1% 17.4% 35.9% 96.4%
2001 13.8% 19.1% 36.9% 93.1%
2000 13.6% 18% 33.1% 86.7%
1999 14.6% 22% 30.3% 103%
1998 13.2% 19% 34.5% 101.5%
1997 11.2% 18.5% 35.6% 76.7%
1996 9.85% 19.2% 33.3% 75.2%
1995 9.77% 21% 32.4% 74.2%
1994 - - 33.8% 67.9%
1993 - - 37.7% 58.6%
1992 - - 41.2% 47.8%
1991 - - 34.9% 39.4%
1990 - - 39.3% -

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/saudi-arabia | CC BY

In 2024, Guatemala's government spending was $15.1B, accounting for 13.4% of its GDP, while Saudi Arabia spent $367B, or 29.6% of GDP.

Debt-to-GDP ratio is 26.3% in Guatemala and 26.2% in Saudi Arabia, ranking 161/185 and 163/185, respectively.

Government deficit by year

Deficit/surplus
Guatemala

Saudi Arabia
1x
Year Deficit/surplus, % of GDP
Guatemala Saudi Arabia
2024 -0.96% -2.49%
2023 -1.25% -1.77%
2022 -1.7% 2.24%
2021 -1.16% -1.99%
2020 -4.91% -10.2%
2019 -2.24% -3.96%
2018 -1.88% -5.21%
2017 -1.38% -8.57%
2016 -1.11% -13.2%
2015 -1.47% -14.9%
2014 -1.92% -3.4%
2013 -2.16% 5.47%
2012 -2.42% 11.7%
2011 -2.8% 11.4%
2010 -3.28% 4.39%
2009 -3.12% -5.38%
2008 -1.57% 29.8%
2007 -1.4% 11.8%
2006 -1.88% 20.8%
2005 -1.67% 18%
2004 -1.05% 9.72%
2003 -2.47% 1.2%
2002 -1.03% -5.91%
2001 -2% -3.91%
2000 -1.88% 3.18%
1999 -2.96% -5.99%
1998 -2.29% -8.88%
1997 -0.79% -2.51%
1996 0.04% -3.25%
1995 -0.53% -5.12%
1994 - -8.31%
1993 - -9.33%
1992 - -8.12%
1991 - -3.28%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20).

GeoRank.org/economy/guatemala/saudi-arabia | 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 Saudi Arabia's deficit of $30.9B, or 2.49% of GDP.

Over the past 30 years, Guatemala recorded a fiscal deficit in 29 of those years, while Saudi Arabia ran a deficit in 18 years. On average, Guatemala posted an annual deficit equal to 1.84% of GDP, compared to surplus of 0.77% of GDP for Saudi Arabia.

Inflation comparison by year

Inflation
Guatemala

Saudi Arabia
1x
Year Consumer prices inflation
Guatemala Saudi Arabia
2024 2.87% 1.69%
2023 6.21% 2.33%
2022 6.89% 2.47%
2021 4.26% 3.06%
2020 3.21% 3.37%
2019 3.7% -1.19%
2018 3.75% 2.47%
2017 4.42% -0.83%
2016 4.45% 2.05%
2015 2.39% 1.22%
2014 3.42% 2.24%
2013 4.34% 3.51%
2012 3.78% 2.87%
2011 6.21% 5.83%
2010 3.86% 5.34%
2009 1.86% 5.06%
2008 11.4% 9.87%
2007 6.82% 4.17%
2006 6.56% 2.21%
2005 9.11% 0.48%
2004 7.58% 0.52%
2003 5.6% 0.61%
2002 8.13% 0.25%
2001 7.29% -1.12%
2000 5.98% -1.12%
1999 5.21% -1.33%
1998 6.61% -0.37%
1997 9.23% 0.06%

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

GeoRank.org/economy/guatemala/saudi-arabia | CC BY

Over the past 28 years, Guatemala has recorded an average annual inflation rate of 5.54%, compared with 1.99% in Saudi Arabia. In 2024, inflation was 2.87% in Guatemala and 1.69% in Saudi Arabia.

Top exports between countries

Guatemala
Export category Export value
Raw agricultural goods $180M
Metals $663K
Wood & paper products $646K
Processed food, beverages & tobacco $522K
Animal & marine products $95K
Textiles & consumer goods $26K
Machinery & equipment $23K
Raw materials & minerals $3K
Saudi Arabia
Export category Export value
Chemicals & pharma $19.6M
Textiles & consumer goods $696K
Wood & paper products $285K
Raw materials & minerals $191K
Processed food, beverages & tobacco $148K
Miscellaneous $1K

Balance of trade

Guatemala Saudi Arabia
Current account balance
$3.27B
2024
-$16.3B
2024
Current account balance ranking
38/190
2024
180/190
2024
Current account balance, % of GDP
+2.89%
2024
-1.31%
2024
Goods imports
$29.1B
2024
$214B
2024
Goods exports
$13.3B
2024
$306B
2024
Service imports
$6.45B
2024
$125B
2024
Service exports
$4.65B
2024
$62.8B
2024
Imports of goods and services, % of GDP
31.5%
2024
25.6%
2024
Exports of goods and services, % of GDP
15.9%
2024
29.1%
2024

Economic freedom indices

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

Guatemala Saudi Arabia
Economic freedom 63.5 65.4
Economic freedom ranking 79/197 65/197
Property rights 39.1 51.4
Government integrity 25.2 52.7
Judicial effectiveness 26.1 38.2
Tax burden 91.3 99.2
Government spending 94.3 77
Fiscal health 95.9 97.9
Business freedom 65.7 71.2
Labor freedom 52.5 41.8
Monetary freedom 77.3 81.2
Trade freedom 74.6 73.8
Investment freedom 70 50
Financial freedom 50 50

Economic freedom comparison by year

Guatemala
Saudi Arabia
1x
Year Economic freedom index
Guatemala Saudi Arabia
2026 63.5 65.4
2025 63.4 64.4
2024 62.4 61.9
2023 62.7 58.3
2022 63.2 55.5
2021 64 66
2020 64 62.4
2019 62.6 60.7
2018 63.4 59.6
2017 63 64.4
2016 61.8 62.1
2015 60.4 62.1
2014 61.2 62.2
2013 60 60.6
2012 60.9 62.5
2011 61.9 66.2
2010 61 64.1
2009 59.4 64.3
2008 59.8 62.5
2007 60.5 60.9
2006 59.1 63
2005 59.5 63
2004 59.6 60.4
2003 62.3 63.2
2002 62.3 65.3
2001 65.1 62.2
2000 64.3 66.5
1999 66.2 65.5
1998 65.8 69.3
1997 65.7 68.7
1996 63.7 68.3
1995 62 -

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

GeoRank.org/economy/guatemala/saudi-arabia | CC BY

The Economic Freedom Index for Guatemala is 63.5, ranking 79/197, compared to 65.4 for Saudi Arabia, ranking 65/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guatemala Saudi Arabia
Services, % of GDP
61.8%
2024
47.1%
2024
Industry, % of GDP
21.7%
2024
44.9%
2024
Agriculture, forestry, and fishing, % of GDP
9.78%
2024
2.54%
2024
GNI, Atlas method
$106B
2024
$1.26T
2024
GNI per capita, PPP
$14,170
2024
$71,730
2024
Total reserves including gold
$24.4B
2024
$464B
2024
Total reserves ranking
57/177
2024
7/177
2024
Net foreign direct investment
-$983M
2024
$6.27B
2024
Net inflows of foreign direct investment
$1.85B
2024
$21.3B
2024
Net outflows of foreign direct investment
$865M
2024
$27.6B
2024
Servicing debt to the IMF, % of GNI
1.75%
2024
n/a
Poverty at national poverty lines
56%
2023
n/a
Gross capital formation, % of GDP
16.7%
2024
30.2%
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/saudi-arabia | 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 (2020–2024, 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.