embassy: 100 Young and Duke Streets, Kingston, Georgetownmailing address: P. O. Box 10507, Georgetown
telephone: [592] 225–4900 through 4909
FAX: [592] 225–8497
Flag description:
green, with a red isosceles triangle (based on the hoist side)
superimposed on a long, yellow arrowhead; there is a narrow, black
border between the red and yellow, and a narrow, white border
between the yellow and the green
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. Growth then slowed in 2003 and came
back gradually in 2004, buoyed largely by increased export earnings.
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 bauxite
mining sector should benefit in the near term from restructuring and
partial privatization.
GDP (purchasing power parity):
$2.899 billion (2004 est.)
GDP - real growth rate:
1.9% (2004 est.)
GDP - per capita:
purchasing power parity - $3,800 (2004 est.)
GDP - composition by sector: agriculture: 38.3% industry: 19.9% services: 41.8% (2004 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):
4.5% (2004 est.)
Investment (gross fixed):
34.5% of GDP (2004 est.)
Budget:
revenues: $287.6 million
expenditures: $371.6 million, including capital expenditures of
$93.4 million (2004 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:
7.1% (1997 est.)
Electricity - production:
808 million kWh (2002)
Electricity - production by source: fossil fuel: 99.4% hydro: 0.6% nuclear: 0% other: 0% (2001)
Electricity - consumption:
751.4 million kWh (2002)
Electricity - exports:
0 kWh (2002)
Electricity - imports:
0 kWh (2002)
Oil - production:
0 bbl/day (2001 est.)
Oil - consumption:
11,000 bbl/day (2001 est.)
Oil - exports:
NA
Oil - imports:
NA
Current account balance:
$-129.4 million (2004 est.)
Exports:
$570.2 million f.o.b. (2004 est.)
Exports - commodities:
sugar, gold, bauxite/alumina, rice, shrimp, molasses, rum, timber
Exports - partners:
Canada 23.2%, US 19.2%, UK 10.9%, Portugal 9%, Belgium 6.4%,
Jamaica 5.2% (2004)
Imports:
$650.1 million f.o.b. (2004 est.)
Imports - commodities:
manufactures, machinery, petroleum, food
Imports - partners:
Trinidad and Tobago 24.8%, US 24.5%, Cuba 6.8%, UK 5.4% (2004)
Reserves of foreign exchange and gold:
$280.6 million (2004 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)
Currency code:
GYD
Exchange rates:
Guyanese dollars per US dollar - 198.33 (2004),
