Economy of Guyana
Agriculture, fishing, forestry, and mining industry play the dominant role in the growth of Guyana's economy. They together contribute almost 75% of the total export earnings by Guyana. Mining industry in Guyana is dominated by privately owned companies. In 1998, manufacturing industry accounted for about 11% of the overall GDP of Guyana.- Agriculture: Agriculture contributes a major portion to the economy of Guyana. Among major agricultural products, rice is produced to use for domestic purpose, whereas sugar is exported. Other agricultural products include bananas, coconuts, cocoa, coffee, and citrus fruits.
- Mining: Guyana is one of the largest producers of bauxite in the world. Other mineral products in Guyana include diamonds and gold. Gold mines are basically dominated by privately owned company.
- Exports: Guyana exports commodities like sugar, gold, bauxite, alumina, rice and timber.
- Imports: Guyana imports products like machinery, petroleum, food and manufactures.
- Trade partners: Leading trading partners of Guyana include UK, Canada, Portugal, US, Belgium, Jamaica, Italy, Cuba, Trinidad and Tobago.
GDP(Gross Domestic Product)- real growth rate: 0.5% (2003 est.)
GDP-composition by sector:
Agriculture: 37.2%
Industry:22.7%
Services: 40.1%
- Currency: Currency of Guyana is Guyanese dollar (GYD).
1 US Dollar is equal to 203.880 Guyanese Dollar and 1 Guyanese Dollar (GYD) is equal to 0.004905 US Dollar (USD).
