Economy - overview:
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. Much of Guyana's growth in recent years has come from a surge in gold production in response to global prices, although downward trends in gold prices may threaten future growth. In 2014, production of sugar dropped to a 24-year low.Guyana's entrance into the Caricom Single Market and Economy in January 2006 broadened the country's export market, primarily in the raw materials sector. Guyana has experienced positive growth almost every year over the past decade. Inflation has been kept under control. Recent years have seen the government's stock of debt reduced significantly - with external debt now less than half of what it was in the early 1990s. Despite recent improvements, the government is still 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 21% of GDP, which along with other Highly Indebted Poor Country debt forgiveness, brought the debt-to-GDP ratio down from 183% in 2006 to 52% in 2017. Guyana had become heavily indebted as a result of the inward-looking, state-led development model pursued in the 1970s and 1980s. Chronic problems include a shortage of skilled labor and a deficient infrastructure.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
$6.367 billion (2017 est.)
$6.15 billion (2016 est.)
$5.953 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 171
$3.591 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]
3.5% (2017 est.)
3.3% (2016 est.)
3.1% (2015 est.)
country comparison to the world: 91
[see also: GDP - real growth rate country ranks ]
$8,300 (2017 est.)
$8,000 (2016 est.)
$7,800 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 150
14.8% of GDP (2017 est.)
15.3% of GDP (2016 est.)
8.2% of GDP (2015 est.)
country comparison to the world: 127
[see also: Gross national saving country ranks ]
household consumption: 73.3%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 19.1%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 23.1%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 3.2%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 51.4%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -70.1% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
agriculture: 17.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 37.8%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 44.7% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]
sugarcane, rice, edible oils; beef, pork, poultry; shrimp, fish
bauxite, sugar, rice milling, timber, textiles, gold mining
9% (2017 est.)
country comparison to the world: 11
[see also: Industrial production growth rate country ranks ]
313,800 (2013 est.)
country comparison to the world: 163
[see also: Labor force country ranks ]
agriculture: NA%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: NA%
[see also: Labor force - by occupation - industry country ranks ]
services: NA%
[see also: Labor force - by occupation - services country ranks ]
11.1% (2013)
11.3% (2012)
country comparison to the world: 143
[see also: Unemployment rate country ranks ]
35% (2006 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 1.3%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 33.8% (1999)
44.6 (2007)
43.2 (1999)
country comparison to the world: 42
[see also: Distribution of family income - Gini index country ranks ]
revenues: $939.1 million
[see also: Budget - revenues country ranks ]
expenditures: $1.152 billion (2017 est.)
[see also: Budget - expenditures country ranks ]
26.2% of GDP (2017 est.)
country comparison to the world: 108
[see also: Taxes and other revenues country ranks ]
-5.9% of GDP (2017 est.)
country comparison to the world: 174
[see also: Budget surplus (+) or deficit (-) country ranks ]
52.3% of GDP (2017 est.)
46.8% of GDP (2016 est.)
country comparison to the world: 95
[see also: Public debt country ranks ]
calendar year
2.3% (2017 est.)
0.8% (2016 est.)
country comparison to the world: 108
[see also: Inflation rate (consumer prices) country ranks ]
5.5% (31 December 2011)
4.25% (31 December 2010)
country comparison to the world: 74
[see also: Central bank discount rate country ranks ]
13.3% (31 December 2017 est.)
13% (31 December 2016 est.)
country comparison to the world: 59
[see also: Commercial bank prime lending rate country ranks ]
$772.3 million (31 December 2017 est.)
$701.4 million (31 December 2016 est.)
country comparison to the world: 160
[see also: Stock of narrow money country ranks ]
$1.735 billion (31 December 2017 est.)
$1.7 billion (31 December 2016 est.)
country comparison to the world: 163
[see also: Stock of broad money country ranks ]
$1.986 billion (31 December 2017 est.)
$1.875 billion (31 December 2016 est.)
country comparison to the world: 150
[see also: Stock of domestic credit country ranks ]
$610.9 million (31 December 2012 est.)
$440.4 million (31 December 2011 est.)
$339.8 million (31 December 2010 est.)
country comparison to the world: 111
[see also: Market value of publicly traded shares country ranks ]
-$70 million (2017 est.)
$14 million (2016 est.)
country comparison to the world: 75
[see also: Current account balance country ranks ]
$1.474 billion (2017 est.)
$1.38 billion (2016 est.)
country comparison to the world: 150
[see also: Exports country ranks ]
sugar, gold, bauxite, alumina, rice, shrimp, molasses, rum, timber
Canada 30.6%, US 20.7%, Trinidad and Tobago 11.4% (2016)
$1.776 billion (2017 est.)
$1.555 billion (2016 est.)
country comparison to the world: 164
[see also: Imports country ranks ]
manufactures, machinery, petroleum, food
Trinidad and Tobago 29%, US 27.5%, China 7.3%, Suriname 5.5% (2016)
$607.7 million (31 December 2017 est.)
$581 million (31 December 2016 est.)
country comparison to the world: 136
[see also: Reserves of foreign exchange and gold country ranks ]
$1.726 billion (31 December 2017 est.)
$1.542 billion (31 December 2016 est.)
country comparison to the world: 153
[see also: Debt - external country ranks ]
Guyanese dollars (GYD) per US dollar -
207 (2017 est.)
206.5 (2016 est.)
206.5 (2015 est.)
206.5 (2014 est.)
206.45 (2013 est.)