Guyana - Economy
How is the economy of Guyana? Based on the information we have, Guyana has a small, hydrocarbon-driven South American export economy; major forest coverage being leveraged in carbon credit offsets to encourage preservation; strengthening financial sector; large bauxite and gold resources. Key agricultural products in this country include: sugarcane, rice, plantains, papayas, cassava, pumpkins/squash, chicken, milk, eggplants, ginger (2022).
More about the economy of Guyana
| Labor force | 295,000 (2023 est.) |
|---|---|
| Industrial production growth rate | 98.53% (2022 est.) |
| Industries | bauxite, sugar, rice milling, timber, textiles, gold mining |
| Population below poverty line | |
| Taxes and other revenues | 28.1% (of GDP) (2017 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Guyanese dollars (GYD) per US dollar - |
| Exchange rates 2023 | 208.5 (2023 est.) |
| Exchange rates 2022 | 208.5 (2022 est.) |
| Exchange rates 2021 | 208.5 (2021 est.) |
| Exchange rates 2020 | 208.5 (2020 est.) |
| Exchange rates 2019 | 208.5 (2019 est.) |
| Debt - external | |
| Debt - external 31 December 2017 | $1.69 billion (31 December 2017 est.) |
| Debt - external 31 December 2016 | $1.542 billion (31 December 2016 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $895.275 million (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $917.877 million (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $790.785 million (2021 est.) |
| Current account balance | |
| Current account balance 2022 | -$254.121 million (2022 est.) |
| Current account balance 2021 | -$2.503 billion (2021 est.) |
| Current account balance 2020 | -$396.533 million (2020 est.) |
| Public debt | |
| Public debt 2017 | 52.2% of GDP (2017 est.) |
| Budget | |
| Revenues | $1.333 billion (2019 est.) |
| Expenditures | $1.467 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 3.27% of GDP (2023 est.) |
| Remittances 2022 | 3.57% of GDP (2022 est.) |
| Remittances 2021 | 6.81% of GDP (2021 est.) |
| Imports | |
| Imports 2022 | $7.067 billion (2022 est.) |
| Imports 2021 | $6.611 billion (2021 est.) |
| Imports 2020 | $3.756 billion (2020 est.) |
| Imports (partners) | US 28%, China 14%, Brazil 7%, Trinidad and Tobago 7%, Suriname 4% (2022) |
| Comodities Imports force | refined petroleum, valves, iron pipes, construction vehicles, cars (2022) |
| Exports | |
| Imports 2022 | $7.067 billion (2022 est.) |
| Imports 2021 | $6.611 billion (2021 est.) |
| Imports 2020 | $3.756 billion (2020 est.) |
| Exports (partners) | Panama 32%, Netherlands 15%, US 13%, UAE 6%, Italy 6% (2022) |
| Comodities Exports force | crude petroleum, gold, rice, aluminum ore, liquor (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $40.539 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $30.476 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $18.647 billion (2021 est.) |
| GDP (official exchange rate) | $16.786 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $49,800 (2023 est.) |
| Real GDP per capita 2022 | $37,700 (2022 est.) |
| Real GDP per capita 2021 | $23,200 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 15.4% (2017 est.) |
| Industry | 15.3% (2017 est.) |
| Services | 69.3% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 71.1% (2017 est.) |
| Government consumption | 18.2% (2017 est.) |
| Investment in fixed capital | 25.4% (2017 est.) |
| Investment in inventories | 0% (2017 est.) |
| Exports of goods and services | 47.8% (2017 est.) |
| Imports of goods and services | -63% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 12.43% (2023 est.) |
| Unemployment rate 2022 | 12.42% (2022 est.) |
| Unemployment rate 2021 | 14.93% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 25.9% (2023 est.) |
| Male | 21.5% (2023 est.) |
| Female | 32.4% (2023 est.) |
All Important Facts about Guyana
Want to know more about Guyana? Check all different factbooks for Guyana below.
