Guyana Import Data

Guyana's Import/Export Overview & Domestic Market Analysis for 2023

Imports & Exports

• Top Trade Partners: Guyana's main trade partners are the United States, Canada, and Caribbean nations, reflecting its regional and economic ties.

• Top 5 Imports: Oil, machinery, vehicles, rice, and sugar make up a significant portion of Guyana's imports, with oil and machinery leading the way.

• Top 5 Exports: Gold, bauxite, fish, rice, and timber are the primary exports, with gold accounting for a substantial share of total exports.

• Trade Balance: Guyana has experienced a trade surplus, driven by high gold prices and robust demand for its natural resources.

• Trade Policies: Guyana's trade policies focus on diversifying its export base and deepening regional integration, aiming to reduce dependency on a few commodities.

Domestic Market

• Consumer Spending: Consumer spending is robust, driven by an expanding middle class and rising incomes, despite challenges posed by inflation.

• Inflation & Interest Rates: Inflation has been moderate, influenced by global commodity prices. Interest rates remain stable, supporting a conducive environment for investment.

• Supply Chain Resilience: Guyana's supply chains have shown resilience, adapting to global disruptions. The focus on local production has helped mitigate external shocks.

• Industry Performance: The mining sector, particularly gold and bauxite, is thriving, alongside growth in agriculture and a nascent oil industry. The service sector also shows promise.

Overall Outlook

Guyana's economy is poised for growth, anchored by its rich natural resources and strategic position in the regional market. Ongoing diversification efforts and investment in infrastructure will be key to sustaining momentum.