South America > Guyana > Economy

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Agriculture > products sugar, rice, wheat, vegetable oils; beef, pork, poultry, dairy products; fish, shrimp
Aid as % of GDP	15.2%		[19th of 129]
Debt > External	$1,200,000,000.00		[78th of 136]
Distribution of family income > Gini index	43.2		[5th of 43]
Economic freedom	1.8		[94th of 156]
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 48% 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.
Exchange rates Guyanese dollars per US dollar - 198.33 (2004), 193.88 (2003), 190.67 (2002), 187.32 (2001), 182.43 (2000)
Exports	$683,000,000.00		[139th of 189]
Exports to US	$30,300,000.00		[117th of 224]
GDP	$896,156,300.00		[150th of 203]
GDP > PPP	$3,315,000,000.00		[146th of 163]
GDP > Real growth rate	5.3%		[96th of 198]
GDP growth > annual %	-2.24 annual %		[168th of 187]
GINI index	43.2		[8th of 40]
Gross National Income	$640,840,000.00		[146th of 172]
Human Development Index	0.72		[108th of 178]
Income distribution > Poorest 10%	2.4%		[65th of 114]
Income distribution > Richest 10%	32%		[48th of 114]
Inflation rate (consumer prices)	12.3%		[17th of 192]
Tourist arrivals	76,000		[122nd of 152]

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