Guyana: Doing business & staying in touch

Agriculture allows Guyana to be self-sufficient in sugar, rice, vegetables, fruit, meat and poultry. It is also a major exporter of sugar and rice. Although 80% of the land area is covered by forest, timber has only very recently assumed any economic significance (subject to internationally supported restrictions on logging)

Bauxite mining is the main industry, and responsible for one-third of export earnings. The mining sector also produces gold and diamonds, almost all of which are exported. Gold production has increased sharply since the opening of a new mining complex in 1992. Imported oil meets most of the country's energy requirements, although Guyana and Suriname have begun joint exploration projects

Since 1997, many formerly state-owned assets and industries have been sold, and deregulation measures introduced, as part of that programme. A major obstacle to Guyana's future economic progress is a shortage of trained personnel, especially in the fields of management and technical expertise; the emigration rate remains high, and only serves to compound this long-term problem.

Guyana has a particularly high GDP in relation to other Central-South American countries, with a figure in 2012 of 3,583 USD per capita. Guyana is a founding member of the regional trading bloc CARICOM.