Data at glance of Guyana - average on period

variable 1980-1989 1990-1999 2000-2007 2008-2009 2010-2019 2022 2023 2024 2025 2026
real gdp growth -3.15 4.98 2.06 3.85 7.73 33.8 43.8 19.3 16.2 19.7
CPI % 32.85 19.17 6.58 3.65 1.53 2.8 2.9 3.3 4.1 5.1
Unemployment rate - - - - - - - - - -
Debt/GDP % - 100.9 82.28 52.7 40.86 26.7 24.3 28.6 29.2 28.0
Current account balance/GDP % -20.84 -7.09 -5.19 -6.05 -15.53 9.9 16.5 12.9 21.5 13.9

Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here

History

Originally a Dutch colony in the 17th century, by 1815 Guyana had become a British possession. The abolition of slavery led to former slaves settling urban areas and indentured servants being imported from India to work the sugar plantations. The resulting ethnocultural divide has persisted and has led to turbulent politics. Guyana achieved independence from the UK in 1966, and since then primarily socialist-oriented governments have ruled the country. In 1992, Cheddi JAGAN was elected president in what is considered the country's first free and fair election since independence. After his death five years later, his wife, Janet JAGAN, became president but resigned in 1999 due to poor health. Her successor, Bharrat JAGDEO, was elected in 2001 and again in 2006. Donald RAMOTAR won in 2011, but early elections held in 2015 resulted in the first change in governing party, and David GRANGER took office. After a 2018 no-confidence vote against the GRANGER government, the administration ignored a constitutional requirement to hold elections and remained in place until the 2020 elections, when Irfaan ALI became president. The discovery of massive offshore oil reserves in 2015 has been Guyana's primary economic and political focus, with many hoping the reserves will transform one of the poorest countries in the region. Guyana is the only English-speaking country in South America and shares cultural and historical bonds with the Anglophone Caribbean.

Environment

Area: 214,969 sq km km2

Climate: tropical; hot, humid, moderated by northeast trade winds; two rainy seasons (May to August, November to January)

Natural resources: bauxite, gold, diamonds, hardwood timber, shrimp, fish

Ethnic characteristics

Groups: East Indian 39.8%, African descent 29.3%, mixed 19.9%, Indigenous 10.5%, other 0.5% (includes Portuguese, Chinese, White) (2012 est.)

Languages:

Religions: Protestant 34.8% (Pentecostal 22.8%, Seventh Day Adventist 5.4%, Anglican 5.2%, Methodist 1.4%), Hindu 24.8%, other Christian 20.8%, Roman Catholic 7.1%, Muslim 6.8%, Jehovah's Witness 1.3%, Rastafarian 0.5%, other 0.9%, none 3.1% (2012 est.)

Government

Capital: Georgetown

Government type: parliamentary republic

Executive branch

Chief of state: President Mohammed Irfaan ALI (since 2 August 2020)

Head of government: President Mohammed Irfaan ALI (since 2 August 2020)

Legislative branch

Description: Parliament of the Co-operative Republic of Guyana - unicameral

Economic Overview

small, hydrocarbon-driven South American export economy; major forest coverage being leveraged in carbon credit offsets to encourage preservation; strengthening financial sector; large bauxite and gold resources

Industries

bauxite, sugar, rice milling, timber, textiles, gold mining

GDP by sector: Agriculture: 8% (2024 est.), Industry: 74.3% (2024 est.), Services: 15.3% (2024 est.)

Trade

Export partners: USA 20%, Trinidad & Tobago 11%, Netherlands 10%, Singapore 10%, Germany 7% (2023)

Export commodities: crude petroleum, railway cargo containers, gold, ships, rice (2023)

Import partners: USA 28%, China 13%, Trinidad & Tobago 11%, Brazil 5%, Bahamas, The 4% (2023)

Import commodities: refined petroleum, ships, construction vehicles, excavation machinery, cars (2023)

Geography

Northern South America, bordering the North Atlantic Ocean, between Suriname and Venezuela

Defence

Military expenditure: 2024: 0.9% of GDP (2024 est.)

Information derived from worldfactbook.io (Lupon Media), open successor to the CIA World Factbook. Data sourced from World Bank, IMF, UN and other international organizations.