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Guyana
Cooperative Republic of Guyana
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EconomyGuyana
Field = Fields World Record = World Records  = Dictionary Bar Graph = Bar graph Distribution Maps = Distribution map Field History = Fields History Definitions = Definitions

Economy - overview:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

The Guyanese economy exhibited moderate economic growth in recent years and is based largely on agriculture and extractive industries. The economy is heavily dependent upon the export of six commodities - sugar, gold, bauxite, shrimp, timber, and rice - which represent nearly 60% of the country's GDP and are highly susceptible to adverse weather conditions and fluctuations in commodity prices. Guyana's entrance into the Caricom Single Market and Economy (CSME) in January 2006 has broadened the country's export market, primarily in the raw materials sector. Economic recovery since a 2005 flood-related contraction was buoyed by increases in remittances and foreign direct investment in the sugar and rice industries as well as the mining sector. Chronic problems include a shortage of skilled labor and a deficient infrastructure. The government is juggling a sizable external debt against the urgent need for expanded public investment. In March 2007, the Inter-American Development Bank, Guyana's principal donor, canceled Guyana's nearly $470 million debt, equivalent to nearly 48% of GDP, which along with other Highly Indebted Poor Country (HIPC) debt forgiveness brought the debt-to-GDP ratio down from 183% in 2006 to 120% in 2007. Guyana became heavily indebted as a result of the inward-looking, state-led development model pursued in the 1970s and 1980s. Growth slowed in 2009 as a result of the world recession, but picked up in 2010-11. The slowdown in the domestic economy and lower import costs helped to narrow the country's current account deficit, despite generally lower earnings from exports.

GDP (purchasing power parity):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$5.814 billion (2011 est.)
$5.508 billion (2010 est.)
$5.304 billion (2009 est.)
note: data are in 2011 US dollars

GDP - per capita (PPP):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$7,500 (2011 est.)
$7,200 (2010 est.)
$6,900 (2009 est.)
note: data are in 2011 US dollars

GDP (official exchange rate):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$2.5 billion (2011 est.)

GDP - real growth rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

5.3% (2011 est.)
4.4% (2010 est.)
3.3% (2009 est.)

GDP - composition by sector:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

agriculture: 24.2%
industry: 24%
services: 51.8% (2011 est.)

Investment (gross fixed):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

30.3% of GDP (2011 est.)

Population below poverty line:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

NA%

Household income or consumption by percentage share:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

lowest 10%: 1.3%
highest 10%: 33.8% (1999)

Distribution of family income - Gini index:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

43.2 (1999)

Inflation rate (consumer prices):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

2.5% (2011 est.)
4.5% (2010 est.)

Central bank discount rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

4.25% (31 December 2010 est.)
6.75% (31 December 2009 est.)

Commercial bank prime lending rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

14.4% (31 December 2011 est.)
14.54% (31 December 2010 est.)

Stock of money:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$344.2 million (31 December 2008)
$315.2 million (31 December 2007)

Stock of money - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

463 USD per capita

Stock of quasi money:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$817.6 million (31 December 2008)
$728.8 million (31 December 2007)

Stock of quasi money - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1,098 USD per capita

Stock of domestic credit:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$957.9 million (31 December 2011 est.)
$921.7 million (31 December 2010 est.)

Stock of domestic credit - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1,287 USD per capita

Stock of narrow money:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$409.5 million (31 December 2011 est.)
$397.2 million (31 December 2010 est.)

Stock of broad money:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$1.498 billion (31 December 2010 est.)
$1.296 billion (31 December 2009 est.)

Labor force:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

333,900 (2007 est.)

Labor force participation rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

44.83 % of population

Labor force - by occupation:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

agriculture: NA%
industry: NA%
services: NA%

Unemployment rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

11% (2007)

Unemployment, youth ages 15-24:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

total: 24.1%
male: 20.6%
female: 31.3% (2002)

Budget:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

revenues: $633.6 million
expenditures: $698.4 million (2011 est.)

Budget revenues per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

851 USD per capita

Taxes and other revenues:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

25.3% of GDP (2011 est.)

Budget surplus (+) or deficit (-):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

-2.6% of GDP (2011 est.)

Public debt:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

57% of GDP (2010 est.)

Industries:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

bauxite, sugar, rice milling, timber, textiles, gold mining

Industrial production growth rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

2.5% (2010 est.)

Electricity - production:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

820 million kWh (2008 est.)

Electricity - production per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1,102 kWh per capita

Electricity - consumption:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

688 million kWh (2008 est.)

Electricity - consumption - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

924 kWh per capita

Electricity - exports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 kWh (2009 est.)

Electricity - imports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 kWh (2009 est.)

Oil - production:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 bbl/day (2010 est.)

Oil - production per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Oil - consumption:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

10,000 bbl/day (2010 est.)

Oil - consumption - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

4.90 bbl/year per capita

Oil - exports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 bbl/day (2009 est.)

Oil - imports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

10,480 bbl/day (2009 est.)

Oil - proved reserves:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 bbl (1 January 2011 est.)

Natural gas - production:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 cu m (2009 est.)

Natural gas - production per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Natural gas - consumption:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 cu m (2009 est.)

Natural gas - consumption - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Natural gas - exports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 cu m (2009 est.)

Natural gas - imports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 cu m (2009 est.)

Natural gas - proved reserves:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 cu m (1 January 2011 est.)

Agriculture - products:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

sugarcane, rice, edible oils; shrimp, fish, beef, pork, poultry

Current account balance:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

-$297.2 million (2011 est.)
-$255.3 million (2010 est.)

Current account balance - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

-399 USD per capita

Exports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$1.059 billion (2011 est.)
$882.7 million (2010 est.)

Exports per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1,422 USD per capita

Exports - commodities:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

sugar, gold, bauxite, alumina, rice, shrimp, molasses, rum, timber

Exports - partners:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

Canada 24.6%, US 24.6%, Ukraine 6%, Netherlands 4.9%, Trinidad and Tobago 4.6%, Portugal 4.5%, Jamaica 4.5%, UK 4.1% (2010)

Imports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$1.601 billion (2011 est.)
$1.386 billion (2010 est.)

Imports per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

2,150 USD per capita

Imports - commodities:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

manufactures, machinery, petroleum, food

Imports - partners:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

Trinidad and Tobago 24.2%, US 23.1%, Cuba 6.7%, China 6.7%, South Korea 4.1% (2010)

Reserves of foreign exchange and gold:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$859 million (31 December 2011 est.)
$782.1 million (31 December 2010 est.)

Reserves of foreign exchange and gold - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1,154 USD per capita

Debt - external:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$804.3 million (30 September 2008)
$1.2 billion (2002)

Debt - external - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1,080 USD per capita

Stock of direct foreign investment - at home:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Stock of direct foreign investment - at home - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Stock of direct foreign investment - abroad:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Stock of direct foreign investment - abroad - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Market value of publicly traded shares:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$339.8 million (31 December 2010)
$287 million (31 December 2009)
$289.9 million (31 December 2008)

Market value of publicly traded shares - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

457 USD per capita

Currency (code):
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

Guyanese dollar (GYD)

Exchange rates:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

Guyanese dollars (GYD) per US dollar -
203.9 (2011 est.)
203.64 (2010 est.)
203.95 (2009)
203.86 (2008)
201.89 (2007)

Fiscal year:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

calendar year
Field = Fields World Record = World Records  = Dictionary Bar Graph = Bar graph Distribution Maps = Distribution map Field History = Fields History Definitions = Definitions


This page was last updated on 3 February, 2012

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