| People | Guyana |
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Economy - overview:
|
The Guyanese economy exhibited moderate economic growth in 2001-07, based on expansion in the agricultural and mining sectors, a more favorable atmosphere for business initiatives, a more realistic exchange rate, fairly low inflation, and the continued support of international organizations. Economic recovery since the 2005 flood-related contraction has been buoyed by increases in remittances and foreign direct investment. 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 41% of GDP. The bauxite mining sector should benefit in the near term from restructuring and partial privatization, and the state-owned sugar industry will conduct efficiency increasing modernizations. Export earnings from agriculture and mining have fallen sharply, while the import bill has risen, driven by higher energy prices. Guyana's entrance into the Caricom Single Market and Economy (CSME) in January 2006 will broaden the country's export market, primarily in the raw materials sector. |
GDP (purchasing power parity):
|
$4.057 billion (2007 est.) |
GDP (official exchange rate):
|
$978 million (2007 est.) |
GDP - real growth rate:
|
4.5% (2007 est.) |
GDP - per capita (PPP):
|
$5,300 (2007 est.) |
GDP - composition by sector:
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agriculture: 35.2%
industry: 19%
services: 45.8% (2007 est.) |
Investment (gross fixed):
|
39.3% of GDP (2007 est.) |
Population below poverty line:
|
NA% |
Household income or consumption by percentage share:
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lowest 10%: 1.3%
highest 10%: 33.8% (1999) |
Distribution of family income - Gini index:
|
43.2 (1999) |
Inflation rate (consumer prices):
|
10.4% (2007 est.) |
Labor force:
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418,000 (2001 est.) |
Labor force participation rate:
|
54.23 % of population |
Labor force - by occupation:
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agriculture: NA%
industry: NA%
services: NA% |
Unemployment rate:
|
9.1% (understated) (2000) |
Budget:
|
revenues: $419.4 million
expenditures: $527.4 million (2007 est.) |
Budget revenues per capita:
|
545 USD per capita |
Public debt:
|
void |
Industries:
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bauxite, sugar, rice milling, timber, textiles, gold mining |
Industrial production growth rate:
|
2% (2007 est.) |
Electricity - production:
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807.3 million kWh (2005) |
Electricity - production per capita:
|
1,048 kWh per capita |
Electricity - consumption:
|
750.7 million kWh (2005) |
Electricity - consumption - per capita:
|
974 kWh per capita |
Electricity - exports:
|
0 kWh (2005) |
Electricity - imports:
|
0 kWh (2005) |
Oil - production:
|
0 bbl/day (2005 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
10,500 bbl/day (2005 est.) |
Oil - consumption - per capita:
|
4.97 bbl/year per capita |
Oil - exports:
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0 bbl/day (2004) |
Oil - imports:
|
10,070 bbl/day (2004) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2005 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2005 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2005 est.) |
Natural gas - imports:
|
0 cu m (2005) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
sugarcane, rice, shrimp, fish, vegetable oils; beef, pork, poultry, dairy products |
Current account balance:
|
-$229.7 million (2007 est.) |
Current account balance - per capita:
|
-298 USD per capita |
Exports:
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$499.4 million f.o.b. (2007 est.) |
Exports per capita:
|
648 USD per capita |
Exports - commodities:
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sugar, gold, bauxite, alumina, rice, shrimp, molasses, rum, timber |
Exports - partners:
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US 18.8%, Canada 18.4%, UK 8.7%, Portugal 6.5%, Trinidad and Tobago 4.9%, Netherlands 4.3%, Belgium 4.3%, Jamaica 4.1% (2006) |
Imports:
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$835.8 million f.o.b. (2007 est.) |
Imports per capita:
|
1,085 USD per capita |
Imports - commodities:
|
manufactures, machinery, petroleum, food |
Imports - partners:
|
Trinidad and Tobago 23%, US 21.3%, China 9.7%, Cuba 6.3%, UK 4.5% (2006) |
Reserves of foreign exchange and gold:
|
$292 million (31 December 2007 est.) |
Reserves of foreign exchange and gold - per capita:
|
379 USD per capita |
Debt - external:
|
$1.2 billion (2002) |
Debt - external - per capita:
|
1,557 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
$187.3 million (2005) |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$136.8 million (2005 est.) |
Economic aid - recipient per capita:
|
178 USD per capita |
Currency (code):
|
Guyanese dollar (GYD) |
Exchange rates:
|
Guyanese dollars per US dollar - 201.89 (2007), 200.28 (2006), 200.79 (2005), 198.31 (2004), 193.88 (2003) |
Fiscal year:
|
calendar year |
|
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