nd a narrow white border between the yellow and the green

:Guyana Economy

Overview:
Guyana is one of the world's poorest countries with a per capita income less
than one-fifth the South American average. After growing on average at less
than 1% a year in 1986-87, GDP dropped by 5% a year in 1988-90. The decline
resulted from bad weather, labor trouble in the canefields, and flooding and
equipment problems in the bauxite industry. Consumer prices rose about 100%
in 1989 and 75% in 1990, and the current account deficit widened
substantially as sugar and bauxite exports fell. Moreover, electric power is
in short supply and constitutes a major barrier to future gains in national
output. The government, in association with international financial
agencies, seeks to reduce its payment arrears and to raise new funds. The
government's stabilization program - aimed at establishing realistic
exchange rates, reasonable price stability, and a resumption of growth -
requires considerable public administrative abilities and continued patience
by consumers during a long incubation period. In 1991, buoyed by a recovery
in mining and agriculture, the economy posted 6% growth, according to
official figures. A large volume of illegal and quasi- legal economic
activity is not captured in estimates of the country's total output.
GDP:
exchange rate conversion - $250 million, per capita $300; real growth rate
6% (1991 est.)
Inflation rate (consumer prices):
75% (1990)
Unemployment rate:
12-15% (1990 est.)
Budget:
revenues $126 million; expenditures $250 million (1990 est.)
Exports:
$189 million (f.o.b., 1990 est.)
commodities:
bauxite, sugar, gold, rice, shrimp, molasses, timber, rum
partners:
UK 31%, US 23%, CARICOM 7%, Canada 6% (1988)
Imports:
$246 million (c.i.f., 1991)
commodities:
manufactures, machinery, food, petroleum
partners:
US 33%, CARICOM 10%, UK 9%, Canada 2% (1989)
External debt:
$2.0 billion, including arrears (1990)
Industrial production:
growth rate - 12.0% (1990 est.); accounts for about 11% of GDP
Electricity:
252,500 kW capacity; 647 million kWh produced, 863 kWh per capita (1991)
Industries:
bauxite mining, sugar, rice milling, timber, fishing (shrimp), textiles,
gold mining
Agriculture:
most important sector, accounting for 24% of GDP and about half of exports