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Economy of Guatemala vs Slovakia compared: GDP & Debt

Updated on by Georank team

Guatemala has a GDP of $113B compared to $141B for Slovakia, ranking 68/197 and 61/197 by economy size, respectively.

Guatemala has $29.8B in government debt (26.3% of GDP), compared to $80.7B (57.2% of GDP) in Slovakia.

Guatemala vs Slovakia GDP by year

Guatemala
Slovakia
1x
Year GDP, current $
Guatemala Slovakia
2024 $113,199,581,158 $140,934,076,532
2023 $104,368,755,055 $133,578,518,424
2022 $95,641,446,501 $115,792,972,358
2021 $86,455,522,273 $120,511,265,913
2020 $77,719,468,248 $107,732,602,896
2019 $77,172,331,693 $105,843,498,304
2018 $73,328,356,008 $106,611,673,365
2017 $71,653,780,740 $95,978,130,735
2016 $66,053,408,206 $90,347,173,229
2015 $62,186,066,548 $89,178,548,717
2014 $57,852,159,008 $101,713,075,599
2013 $52,996,420,177 $99,134,277,850
2012 $49,593,929,487 $94,724,394,278
2011 $46,876,006,272 $99,705,104,723
2010 $40,676,578,423 $91,112,160,801
2009 $37,126,148,265 $89,342,984,698
2008 $38,503,720,224 $100,830,060,553
2007 $33,567,850,824 $86,587,749,518
2006 $29,744,246,827 $70,751,813,443
2005 $26,783,389,294 $62,547,753,148
2004 $23,577,298,095 $57,215,475,076
2003 $21,576,351,799 $46,616,149,117
2002 $20,444,205,991 $35,243,658,399
2001 $18,405,220,247 $30,726,659,551
2000 $19,288,929,030 $29,215,726,005
1999 $18,318,412,251 $30,496,272,225
1998 $19,395,491,993 $29,976,207,629
1997 $17,790,026,222 $27,844,628,979
1996 $15,674,835,615 $28,197,790,875
1995 $14,655,404,433 $26,180,022,222
1994 $12,983,233,311 $20,428,139,756
1993 $11,400,017,301 $16,737,973,764
1992 $10,440,781,588 $15,699,327,209
1991 $9,406,135,143 $14,459,924,589
1990 $7,650,196,845 $12,915,046,978
1989 $8,410,724,361 -
1988 $7,841,602,824 -
1987 $7,084,399,840 -
1986 $7,231,963,516 -
1985 $9,721,652,087 -
1984 $9,470,000,100 -
1983 $9,050,000,400 -
1982 $8,716,999,700 -
1981 $8,607,500,300 -
1980 $7,878,700,000 -
1979 $6,902,600,200 -
1978 $6,070,600,200 -
1977 $5,480,500,200 -
1976 $4,365,300,200 -
1975 $3,645,900,000 -
1974 $3,161,499,900 -
1973 $2,569,200,100 -
1972 $2,101,300,000 -
1971 $1,984,800,000 -
1970 $1,904,000,000 -
1969 $1,715,399,900 -
1968 $1,610,500,000 -
1967 $1,453,500,000 -
1966 $1,390,700,000 -
1965 $1,331,399,900 -
1964 $1,299,099,900 -
1963 $1,262,800,000 -
1962 $1,143,600,000 -
1961 $1,076,699,900 -
1960 $1,043,599,900 -

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

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

GDP per capita in Guatemala vs Slovakia by year

Guatemala
GDP per capita

GDP per capita, PPP
Slovakia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guatemala Slovakia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,150 $14,369 $25,993 $48,132
2023 $5,758 $13,745 $24,615 $45,974
2022 $5,359 $13,014 $21,318 $41,562
2021 $4,913 $11,825 $22,123 $38,346
2020 $4,478 $10,947 $19,735 $35,328
2019 $4,512 $10,756 $19,406 $33,986
2018 $4,353 $9,947 $19,573 $31,510
2017 $4,325 $9,560 $17,646 $30,246
2016 $4,060 $9,201 $16,636 $29,868
2015 $3,894 $8,934 $16,442 $30,148
2014 $3,689 $8,237 $18,771 $29,108
2013 $3,444 $7,700 $18,313 $28,075
2012 $3,287 $7,258 $17,517 $27,023
2011 $3,169 $6,784 $18,469 $26,202
2010 $2,805 $6,510 $16,899 $25,382
2009 $2,612 $6,377 $16,587 $23,077
2008 $2,763 $6,435 $18,744 $23,714
2007 $2,459 $6,238 $16,110 $21,232
2006 $2,225 $5,833 $13,168 $18,906
2005 $2,046 $5,486 $11,642 $16,570
2004 $1,841 $5,263 $10,650 $15,166
2003 $1,723 $5,081 $8,675 $14,088
2002 $1,669 $4,969 $6,555 $13,292
2001 $1,538 $4,822 $5,712 $12,367
2000 $1,649 $4,715 $5,422 $11,370
1999 $1,604 $4,557 $5,652 $10,726
1998 $1,741 $4,437 $5,561 $10,666
1997 $1,638 $4,287 $5,172 $10,137
1996 $1,481 $4,143 $5,248 $9,500
1995 $1,421 $4,055 $4,883 $8,812
1994 $1,293 $3,886 $3,821 $8,178
1993 $1,166 $3,756 $3,143 $7,569
1992 $1,096 $3,626 $2,959 $7,270
1991 $1,014 $3,473 $2,727 $7,623
1990 $848 $3,330 $2,437 $8,638
1989 $958 - - -
1988 $919 - - -
1987 $854 - - -
1986 $896 - - -
1985 $1,238 - - -
1984 $1,241 - - -
1983 $1,220 - - -
1982 $1,204 - - -
1981 $1,216 - - -
1980 $1,142 - - -
1979 $1,026 - - -
1978 $925 - - -
1977 $856 - - -
1976 $697 - - -
1975 $595 - - -
1974 $529 - - -
1973 $441 - - -
1972 $370 - - -
1971 $358 - - -
1970 $353 - - -
1969 $326 - - -
1968 $315 - - -
1967 $291.9 - - -
1966 $287.3 - - -
1965 $283 - - -
1964 $284.2 - - -
1963 $284.4 - - -
1962 $265.2 - - -
1961 $257.2 - - -
1960 $256.8 - - -

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

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

Guatemala's GDP per capita is $6,150, ranking 112/197, compared to $25,993 in Slovakia, ranking 47/197. Adjusted for purchasing power (GDP per capita PPP), Guatemala ranks 116th at $14,369, while Slovakia ranks 49th at $48,132.

Economic indicators

Guatemala Slovakia
Gross domestic product
$113B
2024
$141B
2024
GDP rank
68/197
2024
61/197
2024
GDP growth
3.65%
2023-2024
1.94%
2023-2024
GDP per capita
$6,150
2024
$25,993
2024
GDP per capita rank
112/197
2024
47/197
2024
GDP per capita, PPP
$14,369
2024
$48,132
2024
GDP per capita PPP rank
116/197
2024
49/197
2024
Government debt
$29.8B
2024
$80.7B
2024
Debt-to-GDP ratio
26.3%
2024
57.2%
2024
Government debt per person
$1,619
2024
$14,876
2024
Government debt per person rank
124/185
2024
40/185
2024
Average annual personal income after taxes
$4,917
2026
$17,983
2026
Market capitalization of domestic companies n/a
$5.38B
2014
Number of billionaires n/a
2
2025
Income share by richest 10%
34.1%
2023
18.8%
2023
Income share by poorest 10%
1.6%
2023
3.3%
2023
Government expenditure, % of GDP
13.4%
2024
47.1%
2024
Consumer prices inflation
2.87%
2023-2024
2.76%
2023-2024
Central bank interest rate
4%
2025
n/a
Unemployment rate
1.9%
2024
5.34%
2024
Population
19049936
5359438

Spending and national debt comparison by year

Guatemala
Spending

Debt
Slovakia
Spending

Debt
1x
Year % of GDP
Guatemala Slovakia
Government spending Government debt Government spending Government debt
2024 13.4% 26.3% 47.1% 57.2%
2023 13.7% 27.2% 48% 55.6%
2022 14.3% 29% 43% 57.7%
2021 13.5% 30.6% 44.9% 60.2%
2020 15.6% 31.5% 44.5% 58.4%
2019 13.4% 26.4% 40.6% 48%
2018 13.2% 26.4% 39.7% 49.3%
2017 12.8% 25.1% 39.8% 51.4%
2016 12.6% 24.9% 40.9% 52.1%
2015 12.6% 24.8% 44.1% 51.6%
2014 13.6% 24.7% 42% 53.4%
2013 14% 25% 41.1% 54.6%
2012 14.2% 24.6% 40% 51.7%
2011 14.5% 23.8% 40.8% 43.3%
2010 14.5% 24% 41% 40.7%
2009 14.1% 22.8% 43.2% 36.4%
2008 13.3% 19.6% 36.5% 28.6%
2007 13.9% 20.8% 35.9% 30.4%
2006 14.2% 20.9% 38.2% 31.5%
2005 13.2% 20% 39.1% 35%
2004 12.9% 20.6% 38.4% 42%
2003 14.4% 19.8% 40% 43.6%
2002 13.1% 17.4% 46% 45.6%
2001 13.8% 19.1% 46.2% 51.4%
2000 13.6% 18% 53.2% 50.6%
1999 14.6% 22% 48.4% 47.1%
1998 13.2% 19% 46.2% 33.9%
1997 11.2% 18.5% 48.6% 32.8%
1996 9.85% 19.2% 52.8% 30.3%
1995 9.77% 21% 47.8% 21.3%

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

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

In 2024, Guatemala's government spending was $15.1B, accounting for 13.4% of its GDP, while Slovakia spent $66.4B, or 47.1% of GDP.

Debt-to-GDP ratio is 26.3% in Guatemala and 57.2% in Slovakia, ranking 161/185 and 90/185, respectively.

Government deficit by year

Deficit/surplus
Guatemala

Slovakia
1x
Year Deficit/surplus, % of GDP
Guatemala Slovakia
2024 -0.96% -5.27%
2023 -1.25% -5.15%
2022 -1.7% -1.16%
2021 -1.16% -5.09%
2020 -4.91% -5.3%
2019 -2.24% -1.21%
2018 -1.88% -1.01%
2017 -1.38% -0.98%
2016 -1.11% -2.59%
2015 -1.47% -2.78%
2014 -1.92% -3.25%
2013 -2.16% -2.86%
2012 -2.42% -4.37%
2011 -2.8% -4.36%
2010 -3.28% -7.44%
2009 -3.12% -8.18%
2008 -1.57% -2.54%
2007 -1.4% -2.26%
2006 -1.88% -3.57%
2005 -1.67% -2.86%
2004 -1.05% -2.36%
2003 -2.47% -2.28%
2002 -1.03% -8.35%
2001 -2% -7.74%
2000 -1.88% -12.7%
1999 -2.96% -7.25%
1998 -2.29% -5.37%
1997 -0.79% -6.24%
1996 0.04% -9.72%
1995 -0.53% -3.43%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/guatemala/slovakia | 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 Slovakia's deficit of $7.43B, or 5.27% of GDP.

Over the past 30 years, Guatemala recorded a fiscal deficit in 29 of those years, while Slovakia ran a deficit in 30 years. On average, Guatemala posted an annual deficit equal to 1.84% of GDP, compared to deficit of 4.59% of GDP for Slovakia.

Inflation comparison by year

Inflation
Guatemala

Slovakia
1x
Year Consumer prices inflation
Guatemala Slovakia
2024 2.87% 2.76%
2023 6.21% 10.5%
2022 6.89% 12.8%
2021 4.26% 3.15%
2020 3.21% 1.94%
2019 3.7% 2.66%
2018 3.75% 2.51%
2017 4.42% 1.31%
2016 4.45% -0.52%
2015 2.39% -0.33%
2014 3.42% -0.08%
2013 4.34% 1.4%
2012 3.78% 3.61%
2011 6.21% 3.92%
2010 3.86% 0.96%
2009 1.86% 1.62%
2008 11.4% 4.6%
2007 6.82% 2.76%
2006 6.56% 4.48%
2005 9.11% 2.71%
2004 7.58% 7.55%
2003 5.6% 8.55%
2002 8.13% 3.13%
2001 7.29% 7.33%
2000 5.98% 12%
1999 5.21% 10.6%
1998 6.61% 6.67%
1997 9.23% 6.14%

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

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

Over the past 28 years, Guatemala has recorded an average annual inflation rate of 5.54%, compared with 4.45% in Slovakia. In 2024, inflation was 2.87% in Guatemala and 2.76% in Slovakia.

Top exports between countries

Guatemala
Export category Export value
Animal & marine products $229K
Machinery & equipment $13K
Slovakia
Export category Export value
Machinery & equipment $11M
Weapons & explosives $1.86M
Precious metals & jewellery $688K
Textiles & consumer goods $568K
Wood & paper products $144K
Processed food, beverages & tobacco $52K
Raw materials & minerals $49K
Chemicals & pharma $26K
Metals $16K
Miscellaneous $12K

Balance of trade

Guatemala Slovakia
Current account balance
$3.27B
2024
-$6.5B
2024
Current account balance ranking
38/190
2024
171/190
2024
Current account balance, % of GDP
+2.89%
2024
-4.61%
2024
Goods imports
$29.1B
2024
$107B
2024
Goods exports
$13.3B
2024
$106B
2024
Service imports
$6.45B
2024
$13.2B
2024
Service exports
$4.65B
2024
$13.9B
2024
Imports of goods and services, % of GDP
31.5%
2024
85.7%
2024
Exports of goods and services, % of GDP
15.9%
2024
85.5%
2024

Economic freedom indices

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

Guatemala Slovakia
Economic freedom 63.5 67.7
Economic freedom ranking 79/197 54/197
Property rights 39.1 82.6
Government integrity 25.2 57.2
Judicial effectiveness 26.1 70.5
Tax burden 91.3 75.4
Government spending 94.3 36.4
Fiscal health 95.9 69.6
Business freedom 65.7 71.1
Labor freedom 52.5 55.1
Monetary freedom 77.3 69.7
Trade freedom 74.6 79.4
Investment freedom 70 75
Financial freedom 50 70

Economic freedom comparison by year

Guatemala
Slovakia
1x
Year Economic freedom index
Guatemala Slovakia
2026 63.5 67.7
2025 63.4 68.4
2024 62.4 68.1
2023 62.7 69
2022 63.2 69.7
2021 64 66.3
2020 64 66.8
2019 62.6 65
2018 63.4 65.3
2017 63 65.7
2016 61.8 66.6
2015 60.4 67.2
2014 61.2 66.4
2013 60 68.7
2012 60.9 67
2011 61.9 69.5
2010 61 69.7
2009 59.4 69.4
2008 59.8 70
2007 60.5 69.6
2006 59.1 69.8
2005 59.5 66.8
2004 59.6 64.6
2003 62.3 59
2002 62.3 59.8
2001 65.1 58.5
2000 64.3 53.8
1999 66.2 54.2
1998 65.8 57.5
1997 65.7 55.5
1996 63.7 57.6
1995 62 60.4

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

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

The Economic Freedom Index for Guatemala is 63.5, ranking 79/197, compared to 67.7 for Slovakia, ranking 54/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guatemala Slovakia
Services, % of GDP
61.8%
2024
60%
2024
Industry, % of GDP
21.7%
2024
28.9%
2024
Agriculture, forestry, and fishing, % of GDP
9.78%
2024
1.58%
2024
GNI, Atlas method
$106B
2024
$128B
2024
GNI per capita, PPP
$14,170
2024
$47,040
2024
Total reserves including gold
$24.4B
2024
$14.5B
2024
Total reserves ranking
57/177
2024
68/177
2024
Net foreign direct investment
-$983M
2024
-$2.77B
2024
Net inflows of foreign direct investment
$1.85B
2024
$5.01B
2024
Net outflows of foreign direct investment
$865M
2024
$2.24B
2024
Servicing debt to the IMF, % of GNI
1.75%
2024
n/a
Poverty at national poverty lines
56%
2023
13.7%
2021
Gross capital formation, % of GDP
16.7%
2024
20.1%
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/slovakia | 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 (1995–2024, 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.