Download Guyana - globalEDGE

Guyana
Introduction
Key Economic Facts
Guyana is a country located in Northern South America and
is culturally part of the Anglophone Caribbean. It is bordered
by the North Atlantic Ocean between Suriname, Venezuela,
and Brazil. The government system is a
republic; the chief of state is the president,
and the head of government is the prime
minister. Guyana has a largely traditional
economic system in which the majority of
the population engages in subsistence agriculture, and the
allocation of available resources is made on the basis of
primitive methods. Guyana is a member of the Caribbean
Community (CARICOM).
Income Level (by per capita
GNI):
Level of Development:
GDP, PPP (current international
$):
GDP growth (annual %):
GDP per capita, PPP (current
international $):
External debt stocks, total
(DOD, current US$):
Manufacturing, value added (%
of GDP):
Current account balance (BoP,
current US$):
Inflation, consumer prices
(annual %):
Labor force, total:
Unemployment, total (% of
total labor force) (modeled ILO
estimate):
Imports of goods and services
(current US$):
Exports of goods and services
(current US$):
Location:
Capital City:
Chief of State:
Head of Govt.:
Currency:
Major Languages:
South America
Georgetown (-4 GMT)
President David Granger
Prime Minister Moses Nagamootoo
Guyanese dollar (GYD)
English (official), Guyanese Creole,
Amerindian languages (including
Caribbean and Arawak languages),
Indian languages (including
Caribbean Hindustani, a dialect of
Hindi), Chinese
Primary Religions: Protestant 30.5% (Pentecostal 16.9%,
Anglican 6.9%, Seventh Day
Adventist 5%, Methodist 1.7%), Hindu
28.4%, Roman Catholic 8.1%, Muslim
7.2%, Jehovah's Witness 1.1%, other
Christian 17.7%, other 1.9%, none
4.3%, unspecified 0.9%
Calling Code: 592
Voltage: 240
Key Websites
Main Government Page: gina.gov.gy
Export Promotion Agency: goinvest.gov.gy
Investment Promotion goinvest.gov.gy
Agency:
Risk Assessment (Provided by Coface)
Lower Middle Income
Developing
$5.77 billion (2015)
3.01% (2015)
$7,521.73 (2015)
$1,638,981,000.00 (2015)
6.67% (2015)
-$0.14 billion (2015)
-0.96% (2015)
329,586 (2016)
11.44% (2016)
$2.37 billion (2015)
$1.45 billion (2015)
GDP Composition %
Agriculture
Industry
20
22
Manufacturing
Services
59
7
*Although Manufacturing is included in the Industry figures, it is also separately
reported because it plays a critical role in economy.
Rankings
Index
Corruption Perceptions Index
Index of Economic Freedom
International Logistics Performance Index (LPI)
Inward FDI Potential Index
KOF Index of Globalization
Networked Readiness Index (NRI)
Rank
108 / 176
106 / 180
85 / 160
107 / 139
127 / 187
100 / 139
Country rating: D - A high-risk political and economic
situation and an often very difficult business environment
can have a very significant impact on corporate payment
behavior. Corporate default probability is very high.
Business Climate rating: D - The business environment is
very difficult. Corporate financial information is rarely
available and when available usually unreliable. The legal
system makes debt collection very unpredictable. The
institutional framework has very serious weaknesses.
Intercompany transactions can thus be very difficult to
manage in the highly risky environments rated D.
Strengths
• Substantial public investment in infrastructure and
telecommunications
• Attractive outlook to investors in the mining,
hydroelectric, and agriculture sectors
• Discovery of oil reserves off the coast of Guyana
• Member of the Caribbean Community and Common
Market (CARICOM)
Weaknesses
• Excessive concentration in gold and bauxite mining;
sugar, rice, and wood
• Inadequacies in infrastructure, transport, education,
and health
• Sensitivity to climatic events
• Dependence on international donors
• Territorial dispute with Venezula
• Growth of the shadow economy
• Criminality linked with drug trafficking, against a
backdrop of widespread poverty and corruption
U.S. Embassy
U.S. Embassy
100 Young and Duke Streets, Kingston
Georgetown, Guyana
Tel: 592-225-4900/9
http://georgetown.usembassy.gov/
Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV