Guyana
2020 Product Exports | Imports: $2.99B | $2.61B, 130 of 226 | 154 of 226
2020 Per Capita Product Exports | Imports: $3.8k | $3.31k, 37 of 219 | 90 of 219
2019 Service Exports | Imports : $238M | $1.41B, 102 of 108 | 86 of 108
Overview In 2020 Guyana was the number 130 economy in the world in terms of total exports and the number 154 in total imports.
Exports The top exports of Guyana are Crude Petroleum ($1.17B), Gold ($657M), Rice ($270M), Railway Cargo Containers ($220M), and Packaged Medicaments ($103M), exporting mostly to United States ($781M), Canada ($387M), Trinidad and Tobago ($282M), Jamaica ($180M), and United Arab Emirates ($179M).
Imports The top imports of Guyana are Special Purpose Ships ($422M), Refined Petroleum ($239M), Excavation Machinery ($73.4M), Large Construction Vehicles ($62.4M), and Cement ($59.3M), importing mostly from United States ($663M), Portugal ($407M), Trinidad and Tobago ($272M), China ($272M), and United Kingdom ($110M).
Location Guyana borders Brazil, Suriname, and Venezuela by land and Trinidad and Tobago by sea.
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of Guyana.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionThe data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2020): Crude Petroleum, $1.17B
Top Destination (2020): United States, $663M
In 2020, Guyana exported a total of $2.99B, making it the number 130 exporter in the world. During the last five reported years the exports of Guyana have changed by $1.65B from $1.33B in 2015 to $2.99B in 2020.
The most recent exports are led by Crude Petroleum ($1.17B), Gold ($657M), Rice ($270M), Railway Cargo Containers ($220M), and Packaged Medicaments ($103M). The most common destination for the exports of Guyana are United States ($781M), Canada ($387M), Trinidad and Tobago ($282M), Jamaica ($180M), and United Arab Emirates ($179M).
Market Growth
#permalink to sectionFastest Growing Export Markets (2019 - 2020)
- United States, $673M (+ 623%)
- Trinidad and Tobago, $210M (+ 292%)
- Jamaica, $140M (+ 343%)
Fastest Growing Import Markets (2019 - 2020)
- Portugal, $404M (+ 13.7k%)
- Finland, $44.1M (+ 469%)
- United Kingdom, $40.6M (+ 58.5%)
Service Trade
#permalink to sectionService Trade
#permalink to sectionGuyana 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).
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionGuyana has a high level of specialization in Railway Cargo Containers (301), Aluminium Ore (98.2), Rice (56.5), Clays (34.4), and Special Purpose Ships (20.9). 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
#permalink to sectionThe highest complexity exports of Guyana according to the product complexity index (PCI) are Excavation Machinery (0.98), Packaged Medicaments (0.6), Iron Gas Containers (0.38), Large Iron Containers (0.3), and Other Fermented Beverages (0.19). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Guyana according to the relatedness index, are Cocoa Beans (0.067), Fish Fillets (0.059), Fish oil (0.057), Petroleum Gas (0.057), and Animal Meal and Pellets (0.056). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Guyana is not specialized in.
Product Space
#permalink to sectionThe 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.
Diversification Frontier
#permalink to sectionThe 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.
