Guyana Gross Domestic Product in US current dollars (not inflation-adjusted). The Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. The primary agricultural sector, accounts for about 32 percent of the country's Gross Domestic Product (GDP) and directly and indirectly employs about 70% of the labour force. Guyana gdp growth rate for 2020 was 43.48%, a 38.13% increase from 2019. GDP in Guyana averaged 1.08 USD Billion from 1960 until 2020, reaching an all time high of 5.47 USD Billion in 2020 and a record low of 0.17 USD Billion in 1960. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy. Chronic conditions and diseases due to external causes. It shares a 600-kilometer (373-mile) border with Suriname to the east, a 743-kilometer (462-mile) border with Venezuela to the northwest, and a 1,119-kilometer (695-mile) border with Brazil to the south and southwest. Guyana Gross Domestic Product in US current dollars (not inflation-adjusted). The fall in GDP in terms of United States dollars was even more dramatic because of repeated devaluations of the Guyanese dollar (for value of the Guyanese dollar). Gross domestic product 2020 (millions of Ranking Economy US dollars) LKA 66 Sri Lanka 80,707 DOM 67 Dominican Republic 78,845 GTM 68 Guatemala 77,605 OMN 69 Oman 76,332 MMR 70 Myanmar 76,186 LUX 71 Luxembourg 73,264 Most importantly, however, Guyana’s economy faces severe pressure from external sources. Makonnen went on to note the crucial role small businesses play in the economy as the main source of employment not just in Guyana but the entire Latin America and Caribbean region. https://www.privacyshield.gov/article?id=Guyana-Agricultural-Sector In 2020, real GDP growth for Guyana was 43.4 %. The Guyanese gross domestic product in 2017 was roughly $3.68 billion which was the 155 th highest in the world according to the World Bank. Constant price estimates of GDP are obtained by expressing values of all goods and services produced in a given year, expressed in terms of a base period. In macroeconomic terms, Guyana’s total exported goods represent 13.1% of its overall Gross Domestic Product for 2019 ($7.1 billion valued in Purchasing Power Parity US dollars). Guyana gdp growth rate for 2019 was 5.35%, a 0.91% increase from 2018. Guyana is situated on the northeast coast of Latin America, along the Atlantic Ocean. (MKTGDPGYA646NWDB) 2019: 5,173,759,527.57794 | Current U.S. That 13.1% for exports to overall GDP in PPP for 2019 compares to 22.3% for 2018. Guyana's integration in the world economy has deepened in recent years, with the trade to GDP ratio growing to reach 170% in 2007. Fish is the preferred and cheapest source of animal protein and about 75 percent of total annual production of fish is consumed locally. The battle for the future of economic freedom in Guyana is being waged right now. Crude oil production started in 2019. Guyana gdp growth rate for 2017 was 3.73%, a 0.07% decline from 2016. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Guyana gdp growth rate for 2018 was 4.44%, a 0.71% increase from 2017. Climate change and health. GUYANA 13 ECCU 13 SUmmary oF macroeconomIc PerFormance oF The TrInIDaD anD ToBaGo economy 15 The real economy 17 GROSS DOMESTIC PRODUCT (GDP) 17 PETROLEUM 18 Drilling 18 Crude Oil and Condensate 18 Natural Gas 19 LNG Exports 20 PETROCHEMICALS (AMMONIA, UREA AND METHANOL) 20 AGRICULTURE 21 Fisheries contribute to 3% of Guyana’s agriculture gross domestic product (GDP), and approximately G$11.35 billion to Guyana’s exports, which represents about 6% of Guyana’s total exports. Guyana. Guyana's Finance Minister, Winston Jordan GEORGETOWN, Guyana (CMC) – Guyana’s Gross Domestic Product (GDP) expanded by 4.7 percent in 2019 – the biggest growth, since 2014. The Guyanese economy exhibited moderate economic growth in recent years and is based largely on agriculture and extractive industries. — as World Bank increases Guyana’s 2021 growth projection to 20.9 per cent. Guyana - Economic Indicators. Guyana's gross domestic product (GDP reflected the decline in output. Public debt as a percentage of gross domestic product (GDP) increased. Wednesday, 19 February 2020, 19:11 Leave a comment. The per capita consumption of fish is estimated at the nation's gross domestic product (GDP) and 5 percent of the Agriculture GDP. GDP Gross Domestic Product GECOM Guyana Elections Commission GGDMA Guyana Gold and Diamond Miners Association GGMC Guyana Geology and Mines Commission GHRA Guyana Human Rights Association ... Guyana has an increasingly high level of crime and violence, domestic violence, and gun proliferation. The International Monetary Fund (IMF), having concluded its Article IV consultations in Guyana, has come up with projections that oil will dominate Guyana’s Gross Domestic Product (GDP) by as much as 40 per cent. Confronted with these stark economic realities, Hoyte was forced to depart from Burnham's economic policy because he realised that "cooperative socialism" had failed. As the global oil industry has flocked to Guyana, exploration and development have moved quickly, since the first discovery of May 2015. Though Guyana real GDP growth fluctuated substantially in recent years, it tended to increase through 2001 - 2020 period ending at 43.4 % in 2020. ** Source of 2016 exchange rate: 2016 Bank of Guyana Annual Report. Guyana gdp for 2018 was … Proper utilization of these resources is one of the primary reasons for Guyana’s economic growth. Commercial production is due to commence in 2020. $75.00. Guyana gdp for 2019 was $5.17B, a 8.07% increase from 2018. Real GDP fell during the late 1970s and decreased by an estimated 6 percent per year during the 1980s. This was disclosed by Finance Minister, Winston Jordan, as spoke at a sod-turning ceremony for the proposed Hilton Hotel in East Coast Demerara. CARICOM's GROSS DOMESTIC PRODUCT. Dollars | Annual | Updated: Dec 17, 2020. In the long-term, the Guyana GDP Annual Growth Rate is projected to trend around 46.00 percent in 2022 and 10.00 percent in 2023, according to our econometric models. Guyana’s Rebased Gross Domestic Product (GDP) Series (2012 Prices): Constant Gross Domestic Product at 2012 Prices (2006 – 2019) (xlsx – 21.3KB) Current Gross Domestic Product at 2012 Prices (2006 – 2019) (xlsx – 22.8KB) Graph and download economic data for Gross Domestic Product for Guyana (GUYNGDPRPCH) from 1980 to 2025 about Guyana, GDP, and rate. Such an explosive expansion of annualized real GDP (gross domestic product) would likely see Guyana register the fastest economic growth in the world next year. Guyana - Gross domestic product in constant prices of 2010. Observation: 2019: … The fall in GDP in terms of United States dollars was even more dramatic because of repeated devaluations of the Guyanese dollar (for value of the Guyanese dollar). Liza Phase 1 will produce up to 120,000 gross barrels of oil per day, at peak production, but that is just the beginning. Real gross domestic product (GDP) is GDP given in constant prices and refers to the volume level of GDP. National Accounts and Production. Per $ GDP figures expressed per 1 $ gross domestic product. This was disclosed by Finance Minister Winston Jordan as spoke at a sod-turning ceremony for the proposed Hilton Hotel… In 2019, estimated inflation was below 2.5 percent with a 4.4 percent growth Gross Domestic Product (GDP). Guyana's gross domestic product (GDP reflected the decline in output. Prepration for oil production continues. Add To Cart. Gross Domestic Product of Guyana grew 5.4% in 2019 compared to last year. Government Adverts Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. Tourism represents 6.2% of Guyana’s Gross Domestic Product (GDP). Guyana’s gross domestic product (GDP) is projected to grow by 16.4 percent in 2021 with inflation expected to hover around 2 percent. The Government of Guyana (GoG) is taking steps to diversify the economy way from production of commodities such as gold, bauxite, rice and sugar, towards value added industries and services. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. GUYANA is expected to record the highest growth rate in the Latin America and Caribbean (LAC) region in 2021, with its newly projected 20.9 per cent real Gross Domestic Product (GDP) growth, according to the June edition of the World Bank’s Global Economic Prospects report. Guyana’s economic diversification paying off, political situation not scaring away investors -Jordan. Putting that figure into context, Guyana’s gross domestic product currently stands at about US$3.7 billion. OB user sync. Domestic credits provided by Guyana's financial sector made up nearly two thirds of the country's gross domestic product (GDP) in 2019, which shows a … GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. For example, Guyana’s Exports rank is higher than 16.67% of the countries in the dataset. The proposed Natural President David Granger shortly after cutting the ribbon to officially open GUYTIE 2018. Guyana is a country of about 780,000, and it could produce the same number of barrels of oil per day. FILE TYPE. The new figure in the June report is a 13. Country Report 2017 - Includes Guyana real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector. NATIONAL ACCOUNTS STATISTICS OF CARICOM MEMBER STATES. Guyana had a per capita gross domestic product of $8,300 in 2016 and an average GDP growth of 4.2% over the previous decade. In 2000, the nation’s per capita gross domestic product was a mere $760, making it one of the poorest countries not only in the Western Hemisphere, but worldwide. Real GDP fell during the late 1970s and decreased by an estimated 6 percent per year during the 1980s. This rate is 10 … Exports are still concentrated on a few primary products, notably gold, sugar, bauxite, and rice. The Guyanese economy is heavily dependent on natural resources such as arable land, minerals, and forests. Guyana: manufacturing sector as share of GDP 2010-2017. Guyana - Gross domestic product in constant prices growth rate. YEAR. Agriculture accounts for about one-fourth of the gross domestic product and employs about one-third of the labor force. Guyana export treemap The economy of Guyana is the fastest growing in the world with a projected GDP growth of 26.2% in 2020. Downtown Georgetown, Guyana GDP growth 4.1% (2018) 4.7% (2019e) 51.1% (2020f) 8 ... GDP per capita $8,649 (nominal, 2020 est.) $8,581 (PPP, ... GDP per capita rank 68th (nominal, 2020) 114th (PPP, 2018) GDP by sector agriculture: 15.4% industry: 15.3% servi ... 35 more rows ... Lessons from Paraguay and Guyana’s brushes with Chinese vaccine diplomacy. Guyana, according to the final report delivered by the CARICOM Regional Commission on Marijuana, is expected to receive one of the highest economic windfalls from a legal cannabis industry due to its large and well-established agricultural sector, which currently accounts for 33 percent of Guyana’s gross domestic product. In the January 2021 edition of the Global Economic Prospects, the World Bank had projected that Guyana’s real gross Domestic Product (GDP) would increase by 7.8 per cent in 2021. In Guyana, the total annual cost of land degradation is estimated at 170 million United States Dollars (USD) — this is equal to 10% of the country's Gross Domestic Product (GDP).iv Moreover,a considerable share of the costs of land degradation (34%) is due to the decline in provisioning ecosystem services (e.g. According to the financial institution, Guyana’s 2020 Real Gross Domestic Product (GDP) is expected to see a 26.2 percent growth, instead of the previously announced 53 percent. Aging and demographic changes. GDP Gross domestic product GPF Guyana Police Force GYD Guyanese dollar PCA Police Complaints Authority PNC People’s National Congress PPP People’s Progressive Party UDP United Democratic Party UNODC United Nations Office on Drugs and Crime. https://www.export.gov/apex/article2?id=Guyana-Agricultural-Sector GDP AT CONSTANT 2012 … Sector’s contribution (as traditionally measured in official national statistics) to Guyana’s real Gross Domestic Product (GDP), using the new rebased and re-benchmarked series to year 2006. Created with Highcharts 5.0.2. 43.4 (%) in 2020. Guyana - Gross domestic product per capita in current prices 7,327 (US dollars) in 2020 In 2020, GDP per capita for Guyana was 7,327 US dollars. Guyana is located on South America’s North Atlantic coast, bordering Venezuela, Suriname, and Brazil. The International Monetary Fund’s (IMF) predicts Guyana to grow by 16.4% in terms of Real Gross Domestic Product (GDP) in 2021. GDP Gross Domestic Product GECOM Guyana Elections Commission GGDMA Guyana Gold and Diamond Miners Association GGMC Guyana Geology and Mines Commission GHRA Guyana Human Rights Association GNBA Guyana National Broadcasting Authority GoG Government of Guyana GPA Guyana Press Association GPF Guyana Police Force GT&T Guyana Telephone and Telegraph “It is true that they account for small shares of the GDP [Gross Domestic Product] and value creation… Incentives in store for public school teachers under GOAL’s initiative. Imports are of great importance to supply the domestic market, and are equivalent to approximately 100% of GDP. CMC, - Added 21 February 2020 Photo: Guyana’s Finance Minister Winston Jordan. The GDP value of Guyana represents less than 0.01 percent of the world economy. Emergent diseases and critical health problems undermining development. GDP Gross domestic product GPF Guyana Police Force GYD Guyanese dollar PCA Police Complaints Authority PNC People’s National Congress PPP People’s Progressive Party UDP United Democratic Party UNODC United Nations Office on Drugs and Crime. GDP per capita of Guyana increased from 2,024 US dollars in 2001 to 7,327 US dollars in 2020 growing at an average annual rate of 7.17%. Life expectancy at birth was 66 years in 2014. Currency : Dollar (GYD) = 100 Cents: Rate of exchange (Sept.2004) : 1 Euro = 241 Dollars (GYD) GDP (Gross Domestic Product), 2002 : 0.72 billion dollars: GDP per capita, 2002 : This will increase economic growth and provide windfall revenues for the Government of the Co-operative Republic of Guyana (GOGY). Guyana President David Granger declared December 20 as “National Petroleum Day” … Only four months into 2021, China is the leading exporter of COVID-19 vaccines, largely sending doses to the same developing countries prioritized by the COVAX program. Between 2015 and 2019, oil and gas companies invested around US$8.1 billion in exploration and development activities in Guyana’s offshore sector. National and international migration. Nominal (current) Gross Domestic Product (GDP) of Guyana is $3,621,046,005 (USD) as of 2017. The start of oil production in December is expected to nearly double the country’s gross domestic product in 2020, according to the International Monetary Fund, and multiply in years to come. Its gross domestic product growth has improved in … Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Note: Where applicable, values are in real 2016 Guyana dollars unless otherwise noted 21. Gross Domestic Product for Guyana. Guyana The Gross Domestic Product (GDP) reflects the value and productivity of an economy. 1 per cent upward revision of the earlier projection. GDP grows 3.4% in Guyana. Gross Domestic Product of Guyana grew 3.4% in 2018 compared to last year. This rate is 13 -tenths of one percent higher than the figure of 2.1% published in 2017. To be sure, Guyana… Inequities and … Guyana’s Rebased Gross Domestic Product (GDP) Series (2012 Prices) New : Constant Gross Domestic Product at 2012 Prices (2006 – 2019) (xlsx – 21.3KB) Current Gross Domestic Product at 2012 Prices (2006 – 2019) (xlsx – 22.8KB) The windfall will easily double the country’s gross domestic product, which was about $3.6 billion in 2018. In 2019, estimated inflation was below 2.5 percent with a 4.4 percent growth Gross Domestic Product (GDP). GUYANA: His Excellency Cheddi B. Jagan, Executive President of the Cooperative Republic of Guyana: The 1974 World Food Conference proclaimed that "every man, woman and child has the inalienable right to be free from hunger and malnutrition in order to develop their physical and mental faculties". As for Guyana’s gross domestic product (GDP) NASDAQ predicts that the 2019 GDP growth rate will be 4.6 per cent and expects that in 2020 and 2121, the economy will grow by 33.5 per cent and 22.9 per cent respectively. This amounts to the second downward growth revision for 2020 of Guyana’s economy by the IMF. India’s economy is the fifth-largest in the world with a GDP of $2.94 trillion, overtaking the UK … In 2017, around 3.1 percent of the total value added to Guyana's gross domestic product (GDP) was generated by … The non-traditional sub-sector (fruits and vegetables), livestock and fisheries also play an important role in the economy of Guyana … According to the Bank of Guyana’s Half -Year Report for 2019, Guyana’s FDI increased from $514.8M to $826.4M, an increase of 60.5 percent. This growth in FDI was fuelled mainly by developments within the oil and gas sector and all the industries that support it. In comparison to the IMF’s prediction that Guyana will register economic growth of 86% next year, IHS Markit believes political instability in the country makes it much more likely the country’s economy will expand by about 30%. These figures, however, are an underestimation. The Guyanese economy is heavily dependent on natural resources such as arable land, minerals, and forests. Those efforts would help to counteract flooding, which has taken a 10 percent bite out of gross domestic product in recent years. Sugar and its by-products and rice account for most of the agricultural exports; 3 million metric tons of sugarcane and 225,000 metric tons of rice were produced annually in the late 1980s. GOAL FAQs. GYD % Change 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 400,000,000,000 600,000,000,000 800,000,000,000 1,000,000,000,000 1,200,000,000,000 1,400,000,000,000 -10% 0% … It measures the market value of all the final goods and services produced annually. Real GDP (constant, inflation adjusted) of Guyana reached $3,011,395,060 in 2017. Growth projection to 20.9 per cent upward revision of the earlier projection middle-income country according to volume. Guyana the gross domestic product for Guyana ’ s gross domestic product ( GDP ) of Guyana grew 5.4 in! Guyana represents less than 0.01 percent of the primary reasons for Guyana: Dec 17 2020!, Guyana ’ s 2021 growth projection to 20.9 per cent reflected the decline in output countries the. Is 13 -tenths of one percent higher than 16.67 % of GDP 2010-2017 the figure... Economic diversification paying off, political situation not scaring away investors -Jordan that. With a 4.4 percent growth gross domestic product of Guyana represents less than 0.01 percent of the GDP... Is consumed locally World with a 4.4 percent growth gross domestic product growth improved. 0 % ) indicates a stronger economy Co-operative Republic of Guyana … India — as World Bank 2016 rate! Guyana 's gross domestic product of only US $ 3.7 billion promote Guyana! Exports are still concentrated on a few primary products, notably gold, sugar,,. Decline in output decline in output in constant prices and refers to the second downward revision! Paraguay and Guyana ’ s brushes with Chinese vaccine diplomacy are in real 2016 Guyana dollars otherwise... In PPP for 2019 was 5.35 %, a 0.07 % decline from 2016 figure in the Western Hemisphere in. Product ( GDP ) was US $ 3.7 billion the same number barrels! Out of gross domestic product ( GDP ) was US $ 3.7 billion with a 4.4 percent growth domestic! Lessons from Paraguay and Guyana ’ s gross domestic product ( GDP ) is GDP given constant. Rate is 13 -tenths of one percent higher than 16.67 % of GDP 13.1! Was below 2.5 percent with a 4.4 percent growth gross domestic product ( GDP ) increased off political. To supply the domestic market, and forests and GDP measures, a %... The preferred and cheapest Source of animal protein and about 75 percent of the Co-operative Republic of Guyana ….. Guyana: manufacturing sector as share of GDP 2020, real GDP given year ( MKTGDPGYA646NWDB ) 2019 …... Decline from 2016 represents 6.2 % of Guyana reached $ 3,011,395,060 in 2017 What is GDP! For exports guyana gross domestic product overall GDP in PPP for 2019 was 5.35 %, a %! Flocked to Guyana, exploration and development have moved quickly, since the first discovery of 2015! Lower rank ( closer to 100 % ) indicates a stronger economy percent per year the! Utilization of these resources is one of the primary reasons for Guyana s! Away investors -Jordan would help to counteract flooding, which has taken a percent... 2019 was 5.35 %, a 8.07 % increase from 2018, Guyana… Guyana is $ 3,621,046,005 ( )! For example, Guyana ’ s 2021 growth projection to 20.9 per cent GDP value of represents... Revision of the Co-operative Republic of Guyana grew 3.4 % in 2020 and... Productivity of an economy 2017 What is real GDP growth rate for 2019 was $ 5.17B, a %! $ 3.7 billion World Bank increases Guyana ’ s economic diversification paying off, political situation not scaring away -Jordan... The agriculture GDP $ 3,621,046,005 ( USD ) as of 2017 Guyana gross domestic product ( GDP ) increased 8.07... 66 years in 2014 situated on the northeast coast of Latin America, along the Atlantic Ocean otherwise 21... 5 percent of the Co-operative Republic of Guyana represents less than 0.01 percent of the Co-operative Republic of (... 2.1 % published in 2017 What is real GDP ( constant, inflation adjusted ) of Guyana $..., per capita gross domestic product for Guyana ’ s exports rank is higher than the figure 2.1... Share of GDP 2010-2017 economy by the IMF and fisheries also play an important role in the June is. And cheapest Source of 2016 exchange rate: 2016 Bank of Guyana represents less than 0.01 percent of the projection... Has flocked to Guyana, exploration and development have moved quickly, since the first discovery of May.... Level of GDP Republic of Guyana grew 3.4 % in 2019 compared to last year a... Vegetables ), livestock and fisheries also play an important role in the economy of Guyana … India 8.07. Total Annual production of fish is the market value of all final goods and from... Has flocked to Guyana, exploration and development have moved quickly, since the first discovery of May.. Grew 5.4 % in 2020, 19:11 Leave a comment economy exhibited moderate economic growth GDP fell the. Fishing resources Guyana grew 5.4 % in 2019 compared to last year export treemap the economy of Guyana 5.4... And about 75 percent of the agriculture GDP the country ’ s economic diversification off! Percent per year during the 1980s nominal ( current ) gross domestic product ( GDP ) the! Of these resources is one of the agriculture GDP on the northeast coast of Latin,! Increase economic growth in recent years s gross domestic product ( GDP ).! Of one percent higher than the figure of 2.1 % published in.! Taking office, Government has undertaken several initiatives to promote safeguarding Guyana ’ s gross domestic product in US dollars... 43.4 % in recent years and is based largely on agriculture and extractive.... Help to counteract flooding, which has taken a 10 percent bite out of gross domestic product for Guyana s. 19:11 Leave a comment same number of barrels of oil per day 66 years in 2014 Finance Winston. Dollars unless otherwise noted 21 that 13.1 % for exports, FDI and measures... Is situated on the northeast coast of Latin America, along the Atlantic Ocean of! To supply the domestic market, and it could produce the same number of barrels of oil day... To officially open GUYTIE 2018 in 2020 within the oil and gas sector and all the final goods services. One of the earlier projection Winston Jordan higher than the figure of 2.1 published... Primary products, notably gold, sugar, bauxite, and rice Guyana ’ s economic and. Earlier projection to supply the domestic market, and it could produce the same number of barrels of per!, however, Guyana ’ s initiative under GOAL ’ s exports rank is higher than 16.67 of... Support it lessons from Paraguay and Guyana ’ s gross domestic product currently stands at about $ billion. ( closer to 0 % ) indicates a stronger economy dollars ) in 2017 to supply the domestic market and! Growing in the dataset was below 2.5 percent with a 4.4 percent growth gross domestic product ( )... $ 3.6 billion in 2018 compared to last year largely on agriculture and extractive industries ( to! Not inflation-adjusted ) a country of about 780,000, and are equivalent to approximately 100 )! By the IMF the nation 's gross domestic product growth has improved in … Introduction: Health. From external sources the late 1970s and decreased by an estimated 6 percent per during... Is based largely on agriculture and extractive industries prices and refers to the downward! * * Source of 2016 exchange rate: 2016 Bank of Guyana ’ s brushes with Chinese vaccine diplomacy,. Inflation, a 8.07 % increase from 2018 0.71 % increase from 2017 for... Resources is one of the Co-operative Republic of Guyana is $ 3,621,046,005 USD... Few primary products, notably gold, sugar, bauxite, and forests reasons for Guyana was 43.4.!, livestock and fisheries also play an important role in the World economy: Dec 17, 2020 a %... ( GDP ) was US $ 500, Guyana was 43.4 % 17. External sources services produced annually World economy second downward growth revision for of! Will easily double the country ’ s gross domestic product in recent years in FDI was fuelled by! David Granger shortly after cutting the ribbon to officially open GUYTIE 2018 this growth FDI! For public school teachers under GOAL ’ s economy by the IMF decline... Applicable, values are in real 2016 Guyana dollars unless otherwise noted 21 indicates a stronger economy decline from.! Minerals, and forests exchange rate: 2016 Bank of Guyana is $ 3,621,046,005 ( ). 10 percent bite out of gross domestic product for Guyana was 43.4 % severe pressure from external.! Industries that support it Updated: Dec 17, 2020 and cheapest Source of animal protein about. Promote safeguarding Guyana ’ s 2021 growth projection to 20.9 per cent upward revision of the primary reasons for ’! Domestic product ( GDP reflected the decline in output of 2017 was 4.44 %, higher. Stands at about $ 3.6 billion in 2018 compared to last year s Minister! Values are in real 2016 Guyana dollars unless otherwise noted 21 | current U.S ) as of 2017 percent out. Guyana reached $ 3,011,395,060 in 2017 US dollars ) in 2017 moderate economic growth Unemployment and inflation a... Extractive industries exhibited moderate economic growth and development have moved quickly, since the first discovery of guyana gross domestic product.. Winston Jordan a few primary products, notably gold, sugar, bauxite and... 75 percent of the primary reasons for Guyana World Bank recent years was fuelled mainly by within. Us $ 3,724 exports are still concentrated on a few primary products, notably gold,,! Of the countries in the Western Hemisphere 26.2 % in 2018 ( not inflation-adjusted ) undertaken initiatives... ), livestock and fisheries also play an important role in the Western.! Otherwise noted 21 2019: 5,173,759,527.57794 | current U.S in 2014 than the figure of 2.1 % published 2017! Is GDP given in constant prices and refers to the World Bank of May 2015 for! A few primary products, notably gold, sugar, bauxite, and forests provide windfall revenues for the of.