Flag description: green, with a red isosceles triangle (based on
the hoist side) superimposed on a long, yellow arrowhead; there is a
narrow, black border between the red and yellow, and a narrow, white
border between the yellow and the green
Economy
Economy—overview: In 1997, Guyana, one of the poorest countries in the Western Hemisphere, posted its sixth straight year of economic growth of 5% or better, with the advance led by gold and bauxite mining and by sugar growing. Favorable growth factors have included expansion in the key agricultural and mining sectors, a more favorable atmosphere for business initiative, a more realistic exchange rate, a moderate inflation rate, and the continued support of international organizations. However, a severe drought and political turmoil following the 1997 elections contributed to a negative growth rate for 1998. Serious underlying economic problems will continue. Electricity has been in short supply and constitutes a major barrier to future gains in national output. The government must persist in efforts to manage its sizable external debt and extend its privatization program.
GDP: purchasing power parity—$1.8 billion (1998 est.)
GDP—real growth rate: -1.8% (1998 est.)
GDP—per capita: purchasing power parity?$2,500 (1998 est.)
GDP—composition by sector: agriculture: 37% industry: 22% services: 41% (1997 est.)
Population below poverty line: NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices): 4.1% (1998)