Automotive, machinery, metals, minerals, electronics, agriculture and textiles are major industries of Guyana. In 2017, Agriculture industry contributed 15.4% to GDP of Guyana. Manufacturing had a share of 15.3% while services industry had a share of 69.3% of GDP in 2017.
In 2017, Electronics industry exports was valued at USD 4.28 million for Guyana. Machinery export accounted for USD 73.9 million, vehicals for USD 249 million, chemicals for USD 25.1 million, metals for USD 11.2 million, minerals for USD 149 million, stones for USD 459 million, textiles for USD 1.52 million and agriculture for USD 543 million in 2017.
Guyana, officially the Co-operative Republic of Guyana, is a sovereign state on the northern coast of South America. Although Guyana is part of the Anglophone Caribbean, it is one of the few Caribbean countries that is not an island. The Caribbean Community (CARICOM), of which Guyana is a member, has its secretariat's headquarters in Guyana's capital, Georgetown. On 23 February 1970, Guyana officially became a republic. In 2008, the country joined the Union of South American Nations as a founding member. Guyana is a member state of the Commonwealth of Nations and has the distinction of being the only South American nation in which English is the official language.
Guyana is estimated to have population of 0.787 million in the year 2020 and expected to reach 0.796 million by 2024, growing at a CAGR of 0.28%.
Guyana’s unemployment rate was 11.852% of total labor force in 2019. The unemployment levels in Guyana is expected to decrease by 0.53% and reach 11.79% in 2020.
Guyana’s real gross domestic product (GDP) is estimated to be around GYD 677.226 billion in 2020 whereas the nominal GDP is estimated to be GYD 999.833 billion. This is expected to result in GDP deflator 176.7. Per capita GDP is estimated at USD 5857.03 whereas purchasing power parity (PPP) based per capita GDP is estimated to be at USD 11836.25 for the year 2020.
In 2020, Guyana government’s revenue was estimated to be GYD 309.826 billion whereas the expenditure is estimated to be GYD 357.934 billion. This is expected to result in Guyana government’s net lending / borrowing negative at GYD 48.108 billion in 2020 indicating that enough financial resources will not made available by the government to boost economic growth.
The current account balance for Guyana was estimated to be at USD 0.396 billion for the year 2020 and is expected to further increase at a CAGR of 81.88% and reach USD 4.334 by 2024. This positive current account balance indicates the Guyana is a net lender to the whole world.
In World Bank’s ease of doing business ranking Guyana was ranked 134 out of 190 countries in 2019. Guyana’s ease of doing business ranking has remained constant from 134th position in 2018.
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