Guyana

Economy

Main article: Economy of Guyana

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The main industries in Guyana are bauxite mining, gold mining, Demerara sugar, timber, shrimp and minerals. The sugar industry, which accounts for 28% of all export earnings, is largely run by Guysuco which employs more people than any other industry. Many industries have a large foreign investment. The mineral industry, for example, is heavily invested in by the American company Reynolds Metals and the Canadian Alcan and the Korean/Malaysian Barama Company has a large stake in the logging industry.

Related Topics:
Bauxite - Gold - Guysuco - Reynolds Metals - Alcan - Barama Company

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The Guyanese economy has exhibited moderate economic growth since 1999, based on an expansion in the agricultural and mining sectors, a more favourable atmosphere for business initiatives, a more realistic exchange rate, fairly low inflation, and the continued support of international organisations. Chronic problems include a shortage of skilled labour and a deficient infrastructure. The government is juggling a sizable external debt against the urgent need for expanded public investment. Low prices for key mining and agricultural commodities combined with troubles in the bauxite and sugar industries threaten the government's already tenuous fiscal position and dim prospects for the future.

Related Topics:
1999 - Agricultural - Mining - Inflation - Labour - Infrastructure - Bauxite - Sugar

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Guyana was a founding member of Caricom, whose headquarters are in located in Georgetown.

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