Guyana
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| Introduction - Guyana: | | Location - Guyana: | | People - Guyana: | | Government - Guyana: | | Economy - Guyana: | Economy overview | The Guyanese economy exhibited moderate economic growth in 2001-02, 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. 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. The Inter-American Development Bank in November 2006 canceled Guyanas nearly $400 million debt with the Bank. The bauxite mining sector should benefit in the near term from restructuring and partial privatization. Export earnings from agriculture and mining have fallen sharply, while the import bill has risen, driven by higher energy prices. Guyanas entrance into the Caricom Single Market and Economy (CSME) in January 2006 will broaden the countrys export market, primarily in the raw materials sector. | | Gdp purchasing power parity | $3.711 billion (2006 est.) | | Gdp official exchange rate | $836.7 million (2006 est.) | | Gdp real growth rate | 4.5% (2006 est.) | | Gdp per capita ppp | $4,800 (2006 est.) | | Gdp composition by sector | agriculture: 35.5%
industry: 19.3%
services: 45.2% (2006 est.) | | Labor force | 418,000 (2001 est.) | | Labor force by occupation | agriculture: NA%
industry: NA%
services: NA% | | Unemployment rate | 9.1% (understated) (2000) | | Population below poverty line | NA% | | Household income or consumption by percentage share | lowest 10%: NA%
highest 10%: NA% | | Inflation rate consumer prices | 6% (2006 est.) | | Investment gross fixed | 31.5% of GDP (2006 est.) | | Budget | revenues: $359.9 million
expenditures: $430.3 million; including capital expenditures of $93.4 million (2006 est.) | | Agriculture products | sugarcane, rice, wheat, vegetable oils; beef, pork, poultry, dairy products; fish, shrimp | | Industries | bauxite, sugar, rice milling, timber, textiles, gold mining | | Industrial production growth rate | NA% | | Electricity production | 818.8 million kWh (2004) | | Electricity consumption | 761.5 million kWh (2004) | | Electricity exports | 0 kWh (2004) | | Electricity imports | 0 kWh (2004) | | Oil production | 0 bbl/day (2004 est.) | | Oil consumption | 11,200 bbl/day (2004 est.) | | Oil exports | NA bbl/day | | Oil imports | NA bbl/day | | Oil proved reserves | 0 bbl | | Natural gas production | 0 cu m (2004 est.) | | Natural gas consumption | 0 cu m (2004 est.) | | Current account balance | -$84.3 million (2006 est.) | | Exports | $621.6 million f.o.b. (2006 est.) | | Exports commodities | sugar, gold, bauxite, alumina, rice, shrimp, molasses, rum, timber | | Exports partners | US 18.7%, Canada 16.3%, UK 8.6%, Portugal 6.5%, Jamaica 6.1%, Trinidad and Tobago 4.9%, Netherlands 4.3%, Belgium 4.3% (2006) | | Imports | $706.9 million f.o.b. (2006 est.) | | Imports commodities | manufactures, machinery, petroleum, food | | Imports partners | Trinidad and Tobago 23%, US 21.3%, China 9.7%, Cuba 6.3%, UK 4.5% (2006) | | Reserves of foreign exchange and gold | $294.9 million (2006 est.) | | Debt external | $1.2 billion (2002) | | Economic aid recipient | $84 million (1995), Heavily Indebted Poor Country Initiative (HIPC) $253 million (1997) | | Currency code | Guyanese dollar (GYD) | | Exchange rates | Guyanese dollars per US dollar - 200.28 (2006), 200.79 (2005), 198.31 (2004), 193.88 (2003), 190.67 (2002) | |
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This page was last updated on 16 September, 2007
Source: CIA >>> |
