Overview In 2019 Guyana was the number 153 economy in the world in terms of GDP (current US$), the number 127 in total exports, the number 132 in total imports, the number 92 economy in terms of GDP per capita (current US$) and the number null most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Guyana are Special Purpose Ships ($1.08B), Gold ($752M), Shipping containers ($510M), Excavation Machinery ($295M), and Aluminium Ore ($271M), exporting mostly to Trinidad and Tobago ($1.23B), Canada ($450M), Portugal ($435M), Ghana ($324M), and Norway ($243M).

Imports The top imports of Guyana are Special Purpose Ships ($2.4B), Refined Petroleum ($312M), Excavation Machinery ($245M), Shipping containers ($85.2M), and Planes, Helicopters, and/or Spacecraft ($78.8M), importing mostly from United States ($1.4B), Singapore ($982M), Trinidad and Tobago ($864M), Liberia ($586M), and China ($273M).

Location Guyana borders Brazil, Suriname, and Venezuela by land and Trinidad and Tobago by sea.

Historical Data

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Yearly Exports

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Top Export (2019): Special Purpose Ships, $1.08B

Top Destination (2019): Trinidad and Tobago, $1.23B

In 2019, Guyana exported a total of $3.98B, making it the number 127 exporter in the world. During the last five reported years the exports of Guyana have changed by $2.58B from $1.4B in 2014 to $3.98B in 2019.

The most recent exports are led by Special Purpose Ships ($1.08B), Gold ($752M), Shipping containers ($510M), Excavation Machinery ($295M), and Aluminium Ore ($271M). The most common destination for the exports of Guyana are Trinidad and Tobago ($1.23B), Canada ($450M), Portugal ($435M), Ghana ($324M), and Norway ($243M).

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Yearly Imports

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Top Import (2019): Special Purpose Ships, $2.4B

Top Origin (2019): United States, $1.4B

In 2019 Guyana imported $5.34B, making it the number 132 trade destination in the world. During the last five reported years the imports of Guyana changed by $3.41B from $1.93B in 2014 to $5.34B in 2019.

The most recent imports of Guyana are led by Special Purpose Ships ($2.4B), Refined Petroleum ($312M), Excavation Machinery ($245M), Shipping containers ($85.2M), and Planes, Helicopters, and/or Spacecraft ($78.8M). The most common import partners for Guyana are United States ($1.4B), Singapore ($982M), Trinidad and Tobago ($864M), Liberia ($586M), and China ($273M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Guyana Exports Services (2019): $238M

Guyana Imports Services (2019): $1.41B

In 2019, Guyana exported $238M worth of services. The top services exported by Guyana in 2019 were Other business services ($173M), Personal travel ($27.1M), Financial services ($14.3M), Government services, n.i.e. ($12.7M), and Insurance services ($6.59M).

The top services imported by Guyana in 2019 were Other business services ($868M), Transportation ($430M), Personal travel ($46.8M), Insurance services ($30.3M), and Financial services ($18.7M).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Guyana are N/A.

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Guyana are:
136: Most Favoured Nation duty rate treatement
154: Preferential tariff Agreement between Caribbean Community (CARICOM) member states
192: Preferential tariff for Costa Rica
198: Preferential tariff for Dominican Republic
218: Preferential tariff for European Union countries

Economic Complexity

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Most Specialized Products by RCA Index

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Guyana has a high level of specialization in Shipping containers (471), Aluminium Ore (218), Special Purpose Ships (153), Barium Sulphate (66.8), and Chlorides (41.1). Specialization is measured using RCA, an index that takes the ratio between Guyana observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Guyana according to the product complexity index (PCI) are Interchangeable tools and dies for hand or power tools (1.79), Tools for working in the hand, non-electric motor (1.64), Drawing, mathematical, length measuring instruments (1.61), Taps, cocks, valves for pipes, tanks, boilers, etc (1.54), and Pipe fittings, of iron or steel (1.1). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Guyana according to the relatedness index, are Crude Petroleum (0.088), Cocoa Beans (0.085), Refined Petroleum (0.084), Other Oily Seeds (0.083), and Bananas (0.082). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Guyana is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Guyana. These are products that tend to be co-exported with the products that Guyana exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.