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South America > Guyana > Economy

GUYANESE ECONOMY STATS:   Top Stats   All Stats  
View this page with:    Just Stats   Sources   Definitions   Both  
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 Time series [78th of 136]
Distribution of family income > Gini index 43.2 Time series [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 Time series [139th of 189]
Exports to US $30,300,000.00 [117th of 224]
GDP $896,156,300.00 Time series [150th of 203]
GDP > PPP $3,315,000,000.00 [146th of 163]
GDP > Real growth rate 5.3% Time series [96th of 198]
GDP growth > annual % -2.24 annual % Time series [168th of 187]
GINI index 43.2 Time series [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% Time series [17th of 192]
Tourist arrivals 76,000 [122nd of 152]

... View all Economy stats

SOURCES: CIA World Factbook, 28 July 2005; calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; All CIA World Factbooks 18 December 2003 to 18 December 2008; The Heritage Foundation; US Census Bureau; World Development Indicators database and CIA World Factbook; World Bank. 2005. World Development Indicators 2005.; World Development Indicators database; ; Human Development Report 2006, United Nations Development Programme; World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; United Nations World Statistics Pocketbook and Statistical Yearbook

ALTERNATIVE NAMES: Guyana, Co-operative Republic of Guyana

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