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Indicators of economy in Guyana

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,183 USD per capita. GDP in Guyana, on the other hand, reached USD 9,999 per capita, or 8.04 billion USD for the whole country. Guyana is one of the smaller economies and is currently ranked 154. If this is calculated per inhabitant, taking purchasing power parity into account, then Guyana ranks 64th in the list of the richest countries.

Inflation in Guyana in 2021 was around 5.03%. Within the EU, the average in the same year was 9.22 percent. In the United States, it was most recently 8.00%.

The index for perceived corruption in the public sector is 40, which is below average by global standards.


Back to overview: Guyana

Impact of the COVID-19 pandemic

Overall, the gross domestic product in Guyana in 2020 increased from 5.17 billion US dollars to 5.47 billion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 5.8 percent increase has been rather unusual this year. While most countries have suffered significant losses, Guyana has certainly held its own. The unemployment rate rose from 13.5 to 15.6 percent. The inflation rate fell from 2.1 percent previously to 1.0 percent by the end of 2020.

Income and purchasing power

The average monthly income in Guyana is 784 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 45.1 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Guyana than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 75.9 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

 Guyana
Total		Guyana
per capita		EU
Total		EU
per capita
GDP8.04 bn USD9,998.54 USD17.177 tn USD33,384.92 USD
Gross national product7.57 bn USD9,405.44 USD16.895 tn USD32,835.37 USD


Development of gross domestic product in millions of USD 1960 - 2021


› Debt budget development
› Development of inflation
› Corruption in Guyana
› Cost of living in a global comparison


Imports and Exports 2021

 Guyana
Total		Guyana
per capita		EU
Total		EU
per capita
Imports3.69 bn USD4,584.49 USD8.916 tn USD17,329.02 USD
Exports2.80 bn USD3,475.29 USD9.554 tn USD18,569.19 USD


Development of imports and exports in millions of USD 1977 - 2021

Exports
Imports



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