The economy of Guyana advanced by 48.7 percent year-on-year in 2020 compared to 4.3 percent in 2019. It was the strongest expansion on record, mainly driven by the mining sector (303.7 percent vs 10.6 percent in 2019), owing to petroleum & gas and gold. source: Bank of Guyana

GDP Annual Growth Rate in Guyana averaged 2.98 percent from 1961 until 2020, reaching an all time high of 48.70 percent in 2020 and a record low of -13.19 percent in 1982. This page provides - Guyana GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Guyana GDP Annual Growth Rate - values, historical data and charts - was last updated on August of 2022.

GDP Annual Growth Rate in Guyana is expected to reach 16.00 percent by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Guyana GDP Annual Growth Rate is projected to trend around 10.00 percent in 2022 and 8.00 percent in 2023, according to our econometric models.

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Guyana GDP Annual Growth Rate

Related Last Previous Unit Reference
GDP Annual Growth Rate 48.70 4.30 percent Dec 2020
GDP Constant Prices 1433921.00 964114.00 GYD Million Dec 2020

Guyana GDP Annual Growth Rate
Guyana is one of the poorest countries in Latin America. Guyana’s economy is dependent on agriculture, mining (gold and bauxite), eco-tourism and foreign aid. Recent debt reliefs under the Highly Indebted Poor Countries initiative and the entrance into the Caribbean Single Market and Economy have enabled investment on infrastructure and broadened the export market. As a result, commercial agriculture and industrial production has been expanding. However, systemic trade deficits, high crime rates and skilled labour-force migration continue to hamper economic development.
Actual Previous Highest Lowest Dates Unit Frequency
48.70 4.30 48.70 -13.19 1961 - 2020 percent Yearly