14 Nov 18

Global Fleet launches Wikifleet Guatemala, Panama, Costa Rica

Global Fleet focuses on Central America this November, launching the Wikifleet profiles of Guatemala, Panama, and Costa Rica. Being quite a bit smaller than some of its neighbors, here is just a sample of the information found in our vehicle fleet market encyclopedia.

Composed of 22 departments, Guatemala is the most populous of the three with 15.5 million residents. The vast majority of its population lives in the southern half of the country with more than half of them living in rural areas, particularly in the mountainous regions.

Panama is well known for its Panama Canal of which was expanded to more than double its capacity in 2016. The country's dollar-based economy is mainly supported by the services sector which accounts for nearly 80% of GDP.

Despite the growth and success of the Canal, Panama has one of the worst income distributions in Latin America.

Panama city financial district (Source: Shutterstock)

Meanwhile, unlike some of its neighbors, Costa Rica rarely faces periods of violence which end up hindering democratic development and the country has enjoyed stable economic growth since 2010.

The country’s economy still faces some challenges though, and this is due to its rising fiscal deficit and public debt, and the relatively low levels of domestic revenue.

Fuel Prices

Panama had the lowest petrol price on Monday (November 12), averaging US$0.82 per liter, followed by Guatemala at US$0.91 and Costa Rica at US$1.12. The prices are quite reasonable considering the world average of US$1.15.

As a general rule, richer countries have higher prices while poorer countries and the countries that produce and export oil have significantly lower prices. All countries have access to the same petroleum prices on the international markets but prices change depending on the various taxes and subsidies for gasoline.

Visit all of Global Fleet’s country-specific Wikifleet profiles which features 12 chapters of information, including those related to automotive sales, taxation, legislation, safety, insurance, and much more.

Authored by: Daniel Bland