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2022
Product
Exports | Imports $18.5B | $3.75B80 of 226 |  152 of 226
2022
Per Capita Product
Exports | Imports $22.9k | $4.64k17 of 220 |  87 of 220

About

Overview In 2022 Guyana was the number 80 economy in the world in terms of total exports and the number 152 in total imports.

Exports The top exports of Guyana are Crude Petroleum ($15.9B), Gold ($1.36B), Rice ($429M), Aluminium Ore ($192M), and Hard Liquor ($120M), exporting mostly to Panama ($5.84B), Netherlands ($2.86B), United States ($2.37B), United Arab Emirates ($1.18B), and Italy ($1.18B).

Imports The top imports of Guyana are Refined Petroleum ($441M), Valves ($206M), Cars ($108M), Large Construction Vehicles ($106M), and Delivery Trucks ($81.7M), importing mostly from United States ($1.04B), China ($536M), Brazil ($265M), Trinidad and Tobago ($257M), and Suriname ($159M).

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

Latest Trends

Latest Trade

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Y-AXIS SCALE

The 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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The 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.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Crude Petroleum$15.9B
Top Destination (2022)Panama$5.84B

In 2022, Guyana exported a total of $18.5B, making it the number 80 exporter in the world. During the last five reported years the exports of Guyana have changed by $16.4B from $2.12B in 2017 to $18.5B in 2022.

The most recent exports are led by Crude Petroleum ($15.9B), Gold ($1.36B), Rice ($429M), Aluminium Ore ($192M), and Hard Liquor ($120M). The most common destination for the exports of Guyana are Panama ($5.84B), Netherlands ($2.86B), United States ($2.37B), United Arab Emirates ($1.18B), and Italy ($1.18B).

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Exports (2022)
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Destinations (2022)
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Market Growth

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Growth
Fastest Growing Export Markets (2021 - 2022)
Panama$5.02B (+ 605%)
Netherlands$2.74B (+ 2.4k%)
Italy$1.15B (+ 5.16k%)
Fastest Growing Import Markets (2021 - 2022)
United States$174M (+ 20%)
Brazil$148M (+ 126%)
China$146M (+ 37.4%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2019)

Service Imports (2019)

Economic Complexity

Most Specialized Products by RCA Index

Guyana has a high level of specialization in Aluminium Ore (33.9), Rice (17.1), Crude Petroleum (14), Sand (6.05), and Hard Liquor (3.8). 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

The highest complexity exports of Guyana according to the product complexity index (PCI) are Machines and appliances for testing the hardness, strength, compressibility, elasticity of other... (1.37), Fermented beverages, n.e.c. in chapter 22; (e.g. cider, perry, mead, sake) (-0.035), volume; spirits, liqueurs and other spirituous beverages (-0.56), Sands of all kinds; natural, whether or not coloured, other than metal-bearing... (-0.76), and Wood (including strips, friezes for parquet flooring, not assembled), continuously shaped (tongued,... (-0.76). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Guyana according to the relatedness index, were Cocoa Beans (0.035), Cocoa Shells (0.032), Fish Fillets (0.028), Sawn Wood (0.028), and Manganese Ore (0.027). 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

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

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.

Relatedness Space (2022)

Diversification Frontier

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Depth

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.

Diversification Frontier

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