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 Guyana
Economy - overview:
The Guyanese economy exhibited moderate economic growth in 2001-02,
based on expansion in the agricultural and mining sectors, a more
favorable atmosphere for business initiatives, a more realistic
exchange rate, fairly low inflation, and the continued support of
international organizations. Chronic problems include a shortage of
skilled labor and a deficient infrastructure. The government is
juggling a sizable external debt against the urgent need for
expanded public investment. The InterAmerican Development Bank in
November 2006 canceled Guyana's nearly $400 million debt with the
Bank. The bauxite mining sector should benefit in the near term from
restructuring and partial privatization. Export earnings from
agriculture and mining have fallen sharply, while the import bill
has risen, driven by higher energy prices. Guyana's entrance into
the Caricom Single Market and Economy (CSME) in January 2006 will
broaden the country's export market, primarily in the raw materials
sector.
GDP (purchasing power parity):
$3.62 billion (2006 est.)
GDP (official exchange rate):
$826.6 million (2006 est.)
GDP - real growth rate:
3.2% (2006 est.)
GDP - per capita (PPP):
$4,700 (2006 est.)
GDP - composition by sector: agriculture: 35.5% industry: 19.3% services: 45.2% (2006 est.)
Labor force: 418,000 (2001 est.)
Labor force - by occupation: agriculture: NA% industry: NA% services: NA%