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    Guyana Economy - 2002
    http://www.greekorthodoxchurch.org/wfb2002/guyana/guyana_economy.html
    SOURCE: 2002 CIA WORLD FACTBOOK

      Economy - overview The Guyanese economy has exhibited moderate economic growth since 1999, based on an 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. 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 2002.

      GDP purchasing power parity - $2.5 billion (2000 est.)

      GDP - real growth rate 2.8% (2001 est.)

      GDP - per capita purchasing power parity - $3,600 (2000 est.)

      GDP - composition by sector
      agriculture: 36.1%
      industry: 31.8%
      services: 32.1% (2000)

      Population below poverty line NA%

      Household income or consumption by percentage share
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices) 6% (2001 est.)

      Labor force 418,000 (2001 est.)

      Labor force - by occupation agriculture NA%, industry NA%, services NA%

      Unemployment rate 9.1% (2000) (understated)

      Budget
      revenues: $227 million
      expenditures: $235.2 million, including capital expenditures of $93.4 million (2000)

      Industries bauxite, sugar, rice milling, timber, textiles, gold mining

      Industrial production growth rate 7.1% (1997 est.)

      Electricity - production 505 million kWh (2000)

      Electricity - production by source
      fossil fuel: 99.01%
      hydro: 0.99%
      other: 0% (2000)
      nuclear: 0%

      Electricity - consumption 469.65 million kWh (2000)

      Electricity - exports 0 kWh (2000)

      Electricity - imports 0 kWh (2000)

      Agriculture - products sugar, rice, wheat, vegetable oils; beef, pork, poultry, dairy products; fish (shrimp)

      Exports $505 million (f.o.b., 2000)

      Exports - commodities sugar, gold, bauxite/alumina, rice, shrimp, molasses, rum, timber

      Exports - partners Canada 22%, US 22%, UK 18%, Netherlands Antilles 11% (1999)

      Imports $585 million (c.i.f., 2000)

      Imports - commodities manufactures, machinery, petroleum, food

      Imports - partners US 29%, Trinidad and Tobago 18%, Netherlands Antilles 16%, UK 7% (1999)

      Debt - external $1.1 billion (2000)

      Economic aid - recipient $84 million (1995), Heavily Indebted Poor Country Initiative (HIPC) $253 million (1997)

      Currency Guyanese dollar (GYD)

      Currency code GYD

      Exchange rates Guyanese dollars per US dollar - 189.5 (December 2001), 187.3 (2001), 182.4 (2000), 178.0 (1999), 150.5 (1998), 142.4 (1997)

      Fiscal year calendar year

      NOTE: The information regarding Guyana on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guyana Economy 2002 information contained here. All suggestions for corrections of any errors about Guyana Economy 2002 should be addressed to the CIA.

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    Revised 30-Jan-03
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