Guyana
2021 Product Exports | Imports: $4.89B | $4.92B, 122 of 226 | 141 of 226
2021 Per Capita Product Exports | Imports: $6.19k | $6.23k, 44 of 219 | 79 of 219
2019 Service Exports | Imports : $238M | $1.41B, 102 of 108 | 86 of 108
Overview In 2021 Guyana was the number 122 economy in the world in terms of total exports and the number 141 in total imports.
Exports The top exports of Guyana are Crude Petroleum ($3.54B), Gold ($534M), Rice ($223M), Railway Cargo Containers ($160M), and Aluminium Ore ($112M), exporting mostly to United States ($1.94B), Singapore ($701M), United Arab Emirates ($294M), United Kingdom ($292M), and Barbados ($283M).
Imports The top imports of Guyana are Special Purpose Ships ($1.62B), Refined Petroleum ($588M), Valves ($103M), Large Construction Vehicles ($97.2M), and Cars ($77.8M), importing mostly from Singapore ($1.63B), United States ($911M), Trinidad and Tobago ($580M), China ($389M), and Brazil ($116M).
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 (2021): Crude Petroleum, $3.54B
Top Destination (2021): United States, $1.94B
In 2021, Guyana exported a total of $4.89B, making it the number 122 exporter in the world. During the last five reported years the exports of Guyana have changed by $3.19B from $1.7B in 2016 to $4.89B in 2021.
The most recent exports are led by Crude Petroleum ($3.54B), Gold ($534M), Rice ($223M), Railway Cargo Containers ($160M), and Aluminium Ore ($112M). The most common destination for the exports of Guyana are United States ($1.94B), Singapore ($701M), United Arab Emirates ($294M), United Kingdom ($292M), and Barbados ($283M).
Market Growth
#permalink to sectionFastest Growing Export Markets (2020 - 2021)
- United States, $1.17B (+ 150%)
- Singapore, $575M (+ 456%)
- United Kingdom, $195M (+ 201%)
Fastest Growing Import Markets (2020 - 2021)
- Singapore, $1.62B (+ 12.3k%)
- United States, $232M (+ 34.2%)
- China, $114M (+ 41.3%)
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 Aluminium Ore (83.3), Railway Cargo Containers (79.4), Rice (33.9), Crude Petroleum (16), and Sand (9.36). 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 Compasses (0.82), Surveying Equipment (0.31), Iron Gas Containers (0.044), Other Fermented Beverages (-0.026), and Hard Liquor (-0.38). 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, were Cocoa Beans (0.052), Collector's Items (0.043), Other Oily Seeds (0.043), Petroleum Gas (0.043), and Fish Fillets (0.042). 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.
