Flag Guyana

Product Exports (2018): $1.72B, Rank 135 of 222

Exports Per Capita (2018): $2.21k, Rank 169 of 219

Product Imports (2018): $3.99B, Rank 142 of 221

Imports Per Capita (2018): $5.12k, Rank 170 of 219

Service Exports (2015): $72.2M, Rank 162 of 170

Service Imports (2015): $303M, Rank 155 of 170

GDP (2018): $3.88B, CURRENT US$
Rank 160 of 196

GDP growth (2008 - 2018): 102%, CURRENT US$
Rank 28 of 196

GDP PC (2018): $4,979, CURRENT US$
Rank 109 of 196

GDP PC GROWTH (2008 - 2018): 94%, CURRENT US$
Rank 17 of 196

Overview: In 2018 Guyana was the number 160 economy in the world in terms of GDP (current US$), the number 135 in total exports, and the number 142 in total imports. In 2018, Guyana exported $1.72B and imported $3.99B, resulting in a negative trade balance of -$2.26B. In 2018, Guyana's exports per capita were $2.21k and its imports per capita were $5.12k.

Trade: The top exports of Guyana are Gold ($710M), Aluminium Ore ($207M), Railway Cargo Containers ($185M), Rice ($164M), and Raw Sugar ($61.6M). The top imports of Guyana are Special Purpose Ships ($1.52B), Refined Petroleum ($417M), Excavation Machinery ($119M), Industrial Fatty Acids, Oils and Alcohols ($94.5M), and Planes, Helicopters, and/or Spacecraft ($57.5M).

Destinations: Guyana exports mostly to Canada ($412M), United States ($242M), Panama ($163M), United Arab Emirates ($116M), and Belgium-Luxembourg ($104M), and imports mostly from United States ($2.16B), Trinidad and Tobago ($707M), China ($256M), Suriname ($116M), and Japan ($54.7M).

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

Product Exports

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Top Export (2018): Gold, $710M

Top Destination (2018): Canada, $412M

In 2018 Guyana exported a total of $1.72B, making it the number 135 exporter in the world. During the last five reported years the exports of Guyana have changed by -$69.1M from $1.79B in 2013 to $1.72B in 2018.

The most recent exports are led by Gold ($710M), Aluminium Ore ($207M), Railway Cargo Containers ($185M), Rice ($164M), and Raw Sugar ($61.6M). The most common destination for the exports of Guyana are Canada ($412M), United States ($242M), Panama ($163M), United Arab Emirates ($116M), and Belgium-Luxembourg ($104M).

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Product Imports

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Top Import (2018): Special Purpose Ships, $1.52B

Top Origin (2018): United States, $2.16B

In 2018 Guyana imported $3.99B, making it the number 142 trade destination in the world. During the last five reported years the imports of Guyana changed by $1.8B from $2.19B in 2013 to $3.99B in 2018.

The most recent imports of Guyana are led by Special Purpose Ships ($1.52B), Refined Petroleum ($417M), Excavation Machinery ($119M), Industrial Fatty Acids, Oils and Alcohols ($94.5M), and Planes, Helicopters, and/or Spacecraft ($57.5M). The most common import partners for Guyana are United States ($2.16B), Trinidad and Tobago ($707M), China ($256M), Suriname ($116M), and Japan ($54.7M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Guyana Exports Services (2015): $72.2M

Guyana Imports Services (2015): $303M

In 2015, Guyana exported $72.2M worth of services. The top services exported by Guyana in 2015 were Miscellaneous business, professional, and technical services ($27.3M), Sea transport ($20.1M), Financial services ($14.7M), Insurance services ($7.01M), and Royalties and license fees ($3.08M).

The top services imported by Guyana in 2015 were Sea transport ($137M), Miscellaneous business, professional, and technical services ($95.6M), Insurance services ($36.9M), Royalties and license fees ($18.2M), and Financial services ($13M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Guyana. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Economic Complexity

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Most Specialized Products by RCA Index

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Guyana has a high level of specialization in Aluminium Ore (438), Railway Cargo Containers (422), Rice (68.8), Molasses (55.9), and Processed Fish (50.4). 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 Aircraft, spacecraft, satellites (0.53), Fermented beverages nes (eg cider, perry, mead) (0.23), Builders joinery and carpentry, of wood (0.18), Sets of hand tools, retail (0.16), and Plastic tube, pipe, hose and fittings (0.069). 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 Cocoa Beans (0.082), Crude Petroleum (0.079), Other Oily Seeds (0.079), Tropical Fruits (0.074), and Animal Meal and Pellets (0.072). 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 it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.