• Guyana

    Guyana

    Development Challenges

    Despite the overall decline in agricultural output, the economy of Guyana has been growing thanks to an increase in the five main sectors: gold extraction, services, construction, wholesale and retail. The country’s global prices have increased, its external current account deficit and fiscal deficit have widened, while public debt has remained unchanged. The country is classified as a Highly Indebted Poor Country (HIPC) after writing off most of its debt. The country faces development challenges, including:

    • A high cost of living
    • Turbulent politics due to a ethno-cultural division
    • Highly susceptible to adverse weather conditions and fluctuations in commodity prices
    • Shortage of skilled labour
    • Deficient infrastructure
    • Very poor health conditions for a large part of the population
    • Low service quality of the water and sanitation sectors

    Key Trade Issues

    • Need to control import costs
    • Need to decrease external debt
    • Need for expanded public investment

    Government Priorities

    • To continue pursuing debt relief
    • To resolve border issue with Venezuela
    • To avoid deforestation
    • To implement the justice sector reform strategy
    • To fight the drug market
    • To improve education by constructing a campus and an Information Technology Centre for the University, creating more scholarship opportunities, and improving access to education for rural communities
    • To foster partnerships with the private sector
    • To enhance municipalities
    • To bridge the disparity between the services offered in the city and those available in the regions

     

    Trade and Tariff Graphs

    Graphs of the country’s export markets, its export performance in a key sector and tariffs exporters of a sample product face.
    Trademap sample Trademap sample: The map uses color codes to illustrate the relative size of different markets in the overall exports of the country shown in pink.
    Trademap sample Trademap sample: The vertical axis shows import values by key importing countries, while the horizontal axis shows export values by the country for the same sector. I.e. the country has gained market share in the case of an importing country at the bottom right of chart and lost market share for countries top left. The size of circles is proportional to market size.
    Market access map sample Market access map sample: The world map shows trade values and tariff levels for a key export product by importing countries. Color codes indicate protection levels. Red circles denote trade volumes.

    Trade and Investment Data

    Detailed data on the country’s export performance, key imports and foreign investment, grouped by product and service categories (HS and BOP).

    Trade Information Sources

    A listing of country specific print and online publications on trade related topics. Includes information from both ITC and external sources.

    Trade Contacts

    The most important trade contacts, including importers’ and exporters’ associations, trade support institutions, trade promotion organizations and institutions providing business development assistance.