Guyana

Description of Guyana

Located on the northeastern coast of South America, Guyana is a country that often flies under the radar despite its significant potential and strategic importance in the region. With a unique blend of cultures, diverse natural resources, and a burgeoning oil industry, Guyana stands at a pivotal crossroads in its development trajectory. As the country navigates the challenges of sustainable growth, geopolitical dynamics, and social progress, analyzing key macroeconomic statistics can provide valuable insight into Guyana's current standing and future prospects on the global stage.

Population And Age Structure

Population, total: Guyana has a population of 797,202, which is significantly below the average population of 40,097,746. Guyana ranks 159 out of 194 countries in terms of total population.

Population ages 0-14 (% of total population): In Guyana, 28.87% of the population falls within the age group of 0-14, slightly above the average of 27.34%. Guyana ranks 82 out of 194 countries in this demographic.

Population ages 0-14, total: With a total of 230,167 individuals aged 0-14, Guyana is well below the average of 10,327,379. Guyana ranks 157 out of 194 countries in this category.

Population ages 15-64 (% of total population): Guyana has 65.08% of its population aged between 15-64, slightly above the average of 63.44%. The country ranks 88 out of 194 nations in this group.

Population ages 15-64, total: The total population of individuals aged 15-64 in Guyana is 518,827, significantly lower than the average of 26,003,407. Guyana holds the 159th position out of 194 countries in this demographic.

Population ages 65 and above (% of total population): In Guyana, 6.05% of the population is aged 65 and above, which is below the global average of 9.22%. The country ranks 103 out of 194 nations in this age category.

Population ages 65 and above, total: With a total of 48,207 individuals aged 65 and above, Guyana falls well below the average of 3,766,959. Guyana is placed at the 159th position out of 194 countries regarding this demographic.

Summary

Overall, Guyana has a relatively small total population compared to the global average. The country has a higher percentage of young people (0-14 years) and a lower percentage of older individuals (65 and above) compared to the world average. This demographic profile is crucial for policymakers and investors to consider when assessing the country's future workforce, education, healthcare, and social security needs.

Population Miscellaneous

1. Rural population: Guyana's rural population of 583,663 is significantly below the attribute average of 18,044,041. Guyana ranks 146th out of 190 countries included in the data for this attribute.

2. Rural population (% of total population): With 73.214% of its population living in rural areas, Guyana exceeds the attribute average of 41.158%. Guyana holds the 23rd rank out of 190 countries in this category.

3. Urban population: Guyana's urban population of 213,539 is well below the attribute average of 22,425,747. Guyana ranks 168th out of 194 countries included in the data for urban population.

4. Urban population (% of total population): Guyana's urban population makes up 26.786% of its total population, much lower than the global average of 59.691%. Guyana ranks 172nd out of 194 countries for this metric.

5. Age dependency ratio (% of working-age population): Guyana's age dependency ratio of 53.654% is slightly below the attribute average of 59.219%. Guyana ranks 107th out of 194 countries in this category.

6. Birth rate, crude (per 1,000 people): Guyana's crude birth rate of 20.473 per 1,000 people is higher than the average of 19.384. Guyana ranks 77th out of 192 countries based on this metric.

7. Death rate, crude (per 1,000 people): Guyana's crude death rate of 8.026 per 1,000 people is slightly below the average of 8.214. Guyana ranks 89th out of 192 countries in this category.

Summary

Guyana has a predominantly rural population with 73.214% living in rural areas, ranking 23rd globally in this aspect. The country also exhibits a lower urban population compared to the global average, with an urban population comprising only 26.786% of the total population. Guyana's demographic indicators such as age dependency ratio, birth rate, and fertility rate position it relatively well compared to global averages, indicating a stable and balanced population structure.

These findings are crucial for policymakers and analysts as they provide insights into Guyana's demographic composition, urbanization trends, and population growth dynamics. Understanding these indicators can help in formulating targeted policies for rural development, urban infrastructure planning, healthcare services, and social welfare programs to ensure sustainable development and economic growth in Guyana.

Military

1. Guyana's military expenditure in current USD is significantly below the average of $12,904,993,617. Guyana ranks 131 out of 149 countries in this attribute data.

2. Guyana's military expenditure as a percentage of GDP is also below the average at 1.40%, compared to the average of 1.90%. Guyana ranks 83 out of 148 countries in this category.

3. The total number of armed forces personnel in Guyana is notably lower than the average of 165,908. Guyana ranks 151 out of 164 countries in this regard.

4. Guyana's proportion of armed forces personnel to the total labor force is below the average of 1.28%. Guyana ranks 61 out of 164 countries in this category.

Summary

Guyana's military expenditure, both in absolute terms and as a percentage of GDP, is below the global average. The country also has a smaller number of armed forces personnel compared to the average, and a lower proportion of military personnel in the total labor force. These indicators suggest that Guyana may prioritize other areas of development over military spending, potentially focusing more on economic or social programs. Such a stance could influence Guyana's allocation of resources and strategic priorities, impacting its defense capabilities and diplomatic relations with other nations.

Natural Resources

Guyana has a forest area of 184153.4 sq. km, which is below the average of 211606.11 sq. km. The country is ranked 34th out of 191 countries in this dataset.

The land area of Guyana is 196850 sq. km, significantly below the average of 665166.51 sq. km. Guyana is ranked 84th out of 194 countries for land area.

Guyana's surface area is 214970 sq. km, also notably lower than the average of 689779.56 sq. km. It ranks 83rd out of 194 countries in surface area.

The arable land in Guyana spans 420000 hectares, far below the average of 7329543.16 hectares. Guyana is ranked 130th out of 190 countries for arable land.

Guyana has 188443 hectares of land under cereal production, significantly lower than the average of 4206011.63 hectares. The country ranks 123rd out of 174 countries in this aspect.

The average precipitation in Guyana is 2387 mm per year, above the average of 1157.83 mm per year. Guyana holds the 15th rank out of 178 countries for average precipitation depth.

Guyana possesses 241 billion cubic meters of renewable internal freshwater resources, slightly exceeding the average of 240.41 billion cubic meters. The country ranks 28th out of 178 countries in this resource.

Summary

Guyana stands out for having a relatively small forest area, land area, surface area, arable land, and land under cereal production compared to global averages. However, the country receives above-average precipitation and possesses slightly more renewable internal freshwater resources than the global average. These indicators are crucial as they highlight Guyana's unique environmental landscape, which may impact its agricultural productivity, water security, and overall natural resource management strategies.

Resource Rents

1. Total natural resources rents (% of GDP): Guyana's value for this attribute is 13.90%, which is significantly higher than the average of 4.63%. This places Guyana at rank 17 out of 175 countries included in the data.

2. Forest rents (% of GDP): Guyana's value for this attribute is 3.87%, above the average of 1.53%. Guyana ranks 21 out of 174 countries in this dataset.

3. Oil rents (% of GDP): Guyana's value for this attribute is 7.38%, well above the average of 2.51%. This places Guyana at rank 16 out of 117 countries with available data.

4. Mineral rents (% of GDP): Guyana's value for this attribute is 2.66%, higher than the average of 1.23%. Guyana ranks 15 out of 86 countries in terms of mineral rents.

Summary

Guyana stands out as a country rich in natural resources, with above-average values in total natural resources rents, forest rents, oil rents, and mineral rents compared to global averages. These indicators highlight the significant contribution of natural resource extraction to Guyana's GDP, positioning the country competitively on the global stage in terms of resource wealth. This underscores Guyana's potential for economic development, investment opportunities, and strategic importance in the global geopolitical landscape.

Commodities

- Cereal production (metric tons): Guyana's cereal production stands at 1,061,600 metric tons, significantly below the average of 17,249,945.92 metric tons. Guyana ranks 106 out of 174 countries in this attribute.
- Aquaculture production (metric tons): Guyana's aquaculture production is 137.63 metric tons, well below the average of 679,642.92 metric tons. Guyana ranks 146 out of 180 countries.
- Capture fisheries production (metric tons): Guyana's capture fisheries production is 39,986.9 metric tons, lower than the average of 467,453.06 metric tons. Guyana ranks 104 out of 190 countries.
- Total fisheries production (metric tons): Guyana's total fisheries production is 40,124.53 metric tons, significantly below the average of 1,153,914.85 metric tons. Guyana ranks 109 out of 182 countries.
- Fertilizer consumption (kilograms per hectare of arable land): Guyana's fertilizer consumption is 52.74 kg per hectare, lower than the average of 159.04 kg per hectare. Guyana ranks 119 out of 187 countries in this attribute.

Summary

Guyana's agricultural sector, as reflected by its cereal production, aquaculture, capture fisheries, and total fisheries production, lags behind global averages. Similarly, its fertilizer consumption per hectare of arable land is significantly lower than the global average. These indicators suggest that Guyana may face challenges in achieving food security and maximizing agricultural productivity, which are crucial for economic development and sustainability.

Intellectual Property

For the attribute "Scientific and technical journal articles," Guyana's value of 19.58 is significantly below the average of 15103.76. Guyana ranks 164th out of 192 countries included in the data for this attribute.

Regarding "Charges for the use of intellectual property, payments (BoP, current US$)," Guyana's value of 2,426,130 is notably below the average of 3,218,349,4. Furthermore, Guyana ranks 121st out of 143 countries in this category.

Lastly, in terms of "Charges for the use of intellectual property, receipts (BoP, current US$)," Guyana's value of 92,440 is significantly lower than the average of 3,191,687,117.58. Guyana holds the 107th rank out of 122 countries for this particular metric.

Summary

Overall, Guyana shows underperformance in key macroeconomic indicators related to scientific and technical journal articles, charges for the use of intellectual property (both payments and receipts). With rankings below the global average and lower values in these categories, Guyana may face challenges in areas such as innovation, research and development, and intellectual property management. Addressing these gaps could be crucial for enhancing the country's competitiveness and economic growth in an increasingly globalized and knowledge-based economy.

Broad Economy Attributes

- Guyana's GDP (current US$) is $5,471,256,594.72, which is significantly below the average of $442,870,224,838.68. Guyana is ranked 149 out of 189 countries.

- Guyana's GDP, PPP (current international $) is $15,515,916,906.85, notably below the average of $734,141,122,350.78. It ranks 143 out of 181 countries.

- The GDP per capita (current US$) for Guyana is $6,863.07, much lower than the average of $15,462.11. Guyana is ranked 86 out of 190 countries.

- Guyana's GDP per capita, PPP (current international $) is $19,462.97, slightly below the average of $21,251.89. The country is ranked 67 out of 181 countries.

- Guyana's GNI (current US$) stands at $5,312,756,594.72, which is notably below the average of $452,040,815,370.70. Guyana is ranked 147 out of 185 countries.

- In terms of GNI, PPP (current international $), Guyana's value is $15,066,427,326.69, significantly lower than the average of $730,698,223,823.47. The country is ranked 143 out of 181 countries.

- Guyana's GNI per capita, PPP (current international $) is $18,900, which is below the average of $20,615.75. Guyana is ranked 66 out of 181 countries.

Summary

Guyana's key macroeconomic indicators place it below average globally in terms of GDP, GDP per capita, and GNI metrics, both in absolute values and rankings compared to other countries. This is significant as it indicates that Guyana may face challenges in economic development, income distribution, and overall standard of living when compared to the global average. Addressing these disparities will be crucial for Guyana's sustainable growth and prosperity.

Broad Value Added

1. Gross value added at basic prices (GVA) in Guyana is $5,084,139,088.73, which is significantly below the average of $360,070,943,595.12. Guyana ranks 142 out of 176 countries in this attribute.

2. Agriculture, forestry, and fishing value added (% of GDP) in Guyana is 16.85%, higher than the average of 10.86%. Guyana ranks 48 out of 182 countries in this attribute.

3. Agriculture, forestry, and fishing value added in Guyana is $921,961,630.70, much lower than the average of $19,924,732,828.07. Guyana ranks 133 out of 182 countries in this attribute.

4. Services value added (% of GDP) in Guyana is 38.92%, below the average of 56.72%. Guyana ranks 171 out of 183 countries in this attribute.

5. Services value added in Guyana is $2,129,414,868.11, well below the average of $295,837,711,130.69. Guyana ranks 155 out of 183 countries in this attribute.

6. Industry (including construction) value added in Guyana is $2,122,633,093.53, significantly lower than the average of $118,421,095,413.50. Guyana ranks 141 out of 183 countries in this attribute.

Summary

Guyana lags behind the global average in key macroeconomic indicators such as Gross Value Added, Agriculture, Forestry, and Fishing Value Added, Services Value Added, and Industry Value Added. These low rankings highlight Guyana's limited economic diversification and the need for significant growth in sectors beyond agriculture and services to enhance overall economic performance and competitiveness on the global stage.

Manufacturing Value Added

1. Manufacturing, value added (current US$): Guyana's value added in manufacturing is $232,201,438.85, significantly below the average of $76,207,179,589.66. Guyana ranks 147th out of 173 countries in this attribute.

2. Manufacturing, value added (% of GDP): Guyana's manufacturing value added accounts for 4.24% of its GDP, far lower than the average of 11.90%. Guyana is ranked 152nd out of 173 countries for this statistic.

Summary

Guyana's manufacturing sector lags behind globally, with value added at $232,201,438.85 and accounting for only 4.24% of its GDP. These figures place Guyana below average in both absolute value and relative contribution to the economy compared to other countries. This indicates a potential need for investment and development in the manufacturing sector to boost economic growth and competitiveness on a global scale.

Money

Inflation, consumer prices (annual %): Guyana's inflation rate is below the average of 8.26%. With a value of 0.99%, Guyana ranks 107 out of 165 countries.
Inflation, GDP deflator (annual %): Guyana's GDP deflator inflation rate is significantly below the average of 6.90%, standing at -26.30%. It ranks 188 out of 188 countries.
Broad money growth (annual %): Guyana's broad money growth rate is below the average of 18.03%, at 14.50%. Guyana ranks 63 out of 139 countries.
Broad money (% of GDP): Guyana's broad money as a percentage of GDP is below the average of 71.75%, at 56.42%. It ranks 80 out of 139 countries.
Broad money to total reserves ratio: Guyana's ratio of broad money to total reserves is below the average of 5.17%, at 4.54%. Guyana ranks 32 out of 126 countries.

Summary

Investment

- Foreign direct investment, net (BoP, current US$): Guyana's net foreign direct investment is -1280922187.63, above the average of -1615235980.51. It is ranked 119 out of 169 countries in the data set.
- Foreign direct investment, net inflows (BoP, current US$): Guyana's net foreign direct investment inflows are 1294482521.17, below the average of 5749271080.15. It is ranked 66 out of 182 countries.
- Foreign direct investment, net inflows (% of GDP): Guyana's net foreign direct investment inflows as a percentage of GDP is 23.66%, significantly above the average of 2.61%. It is ranked 4 out of 178 countries.
- Foreign direct investment, net outflows (BoP, current US$): Guyana's net foreign direct investment outflows are 13560333.54, below the average of 5707991116.07. It is ranked 95 out of 156 countries.
- Foreign direct investment, net outflows (% of GDP): Guyana's net foreign direct investment outflows as a percentage of GDP is 0.25%, below the average of 1.00%. It is ranked 74 out of 155 countries.
- Portfolio Investment, net (BoP, current US$): Guyana's net portfolio investment is -126144124.17, below the average of 679559169.57. It is ranked 105 out of 159 countries in the dataset.

Summary

Guyana's foreign direct investment metrics show a mixed picture - while the country ranks well in net inflows as a percentage of GDP, it lags in terms of net outflows. This indicates a potential reliance on foreign investment to drive economic growth, but also a risk of capital leaving the country. The low ranking in net portfolio investment suggests a need to attract more diverse sources of investment to support sustainable development and economic stability.

Debt

- Total debt service (% of GNI): Guyana's value is 2.51%, below the average of 5.98%. This ranks Guyana 82nd out of 120 countries.

- Public and publicly guaranteed debt service (% of GNI): Guyana's value is 1.44%, below the average of 2.84%. This ranks Guyana 78th out of 120 countries.

- External debt stocks (% of GNI): Guyana's value is 28.36%, significantly below the average of 65.42%. This ranks Guyana 99th out of 120 countries.

- Debt service on external debt, total (TDS, current US$): Guyana's value is $133,357,994.9, much lower than the average of $9,811,195,839.23. This ranks Guyana 94th out of 123 countries.

- Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): Guyana's value is $76,453,687.6, below the average of $3,310,612,057.60. This ranks Guyana 95th out of 123 countries.

- External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): Guyana's value is $1,271,288,178.3, significantly below the average of $28,695,879,144.98. This ranks Guyana 103rd out of 123 countries.

- External debt stocks, private nonguaranteed (PNG) (DOD, current US$): Guyana's value is $55,636,000, much lower than the average of $33,734,699,285.22. This ranks Guyana 83rd out of 91 countries.

- External debt stocks, total (DOD, current US$): Guyana's value is $1,506,687,262.60, significantly below the average of $73,845,530,111.82. This ranks Guyana 106th out of 123 countries.

Summary

Guyana demonstrates strong fiscal responsibility with lower values in key debt indicators compared to global averages. This includes lower total debt service, public and publicly guaranteed debt service, and external debt stocks as a percentage of GNI, indicating a lower debt burden relative to its economic output. These figures are crucial as they suggest Guyana's ability to manage its debt obligations efficiently and sustainably, which can enhance investor confidence, financial stability, and overall economic development.

Broad Trade Attributes

Merchandise trade accounts for 88.46% of Guyana's GDP, which is significantly higher than the average of 60.01%. Guyana ranks 28th out of 186 countries in this aspect.

Trade in services contributes 36.74% to Guyana's GDP, surpassing the average of 24.63%. Guyana holds the 27th position out of 171 countries in this category.

Summary

Guyana stands out in terms of its high dependence on merchandise trade, accounting for 88.46% of its GDP, well above the global average. Additionally, the country excels in trade in services, with a contribution of 36.74% to its GDP, surpassing the international average. These statistics highlight Guyana's strong integration into the global economy and emphasize its position as a key player in international trade. Such high levels of trade activity can boost economic growth, create employment opportunities, and attract foreign investment, ultimately driving the country's development and improving the standard of living for its citizens.

Net Trade

1. Current account balance (BoP, current US$): Guyana has a current account balance of approximately -396,533,065.46 USD, which is significantly below the average of 1,443,864,831.49 USD. This places Guyana at rank 99 out of 170 countries included in the data.

2. Current account balance (% of GDP): Guyana's current account balance as a percentage of GDP is -7.25%, much lower than the average of -2.36%. This ranks Guyana at 132 out of 170 countries.

3. Net trade in goods and services (BoP, current US$): Guyana's net trade in goods and services stands at -957,089,887.51 USD, notably below the average of 2,604,730,003.57 USD. Guyana is ranked 106 out of 171 countries.

4. Net primary income (BoP, current US$): Guyana's net primary income is -105,950,940.66 USD, higher than the average of -903,807,529.74 USD. This places Guyana at rank 63 out of 170 countries.

5. Net secondary income (BoP, current US$): Guyana's net secondary income is 666,507,762.71 USD, significantly above the average of -269,227,340.40 USD. Guyana is ranked 69 out of 170 countries.

6. Net trade in goods (BoP, current US$): Guyana's net trade in goods is 635,489,440.76 USD, below the average of 1,302,831,005.68 USD. Guyana is ranked 60 out of 171 countries.

7. Net capital account (BoP, current US$): Guyana's net capital account is 48,683,632.23 USD, below the average of 136,543,824.05 USD. Guyana is ranked 83 out of 159 countries.

8. Net financial account (BoP, current US$): Guyana's net financial account is -1,016,744,088.98 USD, lower than the average of -469,840,994.63 USD. Guyana is ranked 116 out of 170 countries.

Summary

Guyana's macroeconomic indicators reveal a significant current account deficit, with negative balances in various categories such as net trade in goods and services, primary income, and financial account. Despite a surplus in net secondary income, Guyana ranks lower than the global average in most indicators, indicating a need for policy adjustments to improve economic stability and sustainable development.

Broad Export Attributes

1. Exports of goods, services and primary income (BoP, current US$): Guyana's export value of 2865155887.73 is significantly below the attribute average of 146238908936.30. Guyana ranks 128th out of 170 countries in this dataset.

2. Exports of goods and services (BoP, current US$): With an export value of 2798631587.96, Guyana falls far short of the attribute average of 122938540059.78. The country is ranked 125th out of 170 countries.

3. Goods exports (BoP, current US$): Guyana's goods export value of 2589971095.97 is notably lower than the attribute average of 93310581697.39. The country ranks 122nd out of 171 countries in this dataset.

4. ICT goods exports (% of total goods exports): Guyana's percentage of ICT goods exports at 0.0293 is significantly below the attribute average of 3.8062. The country holds the 132nd rank out of 142 countries for this metric.

Summary

Guyana's export performance across various categories, such as goods, services, primary income, and ICT goods, consistently falls below global averages and ranks relatively low compared to other countries. These statistics highlight Guyana's challenges in diversifying its exports, expanding its export base, and capturing a larger share of the global market. Addressing these issues is crucial for Guyana's economic growth and competitiveness in the international trade landscape.

Merchandise Exports

Merchandise exports (current US$): Guyana's merchandise exports amount to $2,590,000,000, ranking 129 out of 187 countries. This value is significantly below the average merchandise exports of $89,542,711,229.95.

Agricultural raw materials exports (% of merchandise exports): Guyana's agricultural raw materials exports account for 0.62% of its total merchandise exports, ranking 103 out of 151 countries. This value is notably lower than the average of 2.97%.

Food exports (% of merchandise exports): Guyana's food exports represent 15.31% of its total merchandise exports, ranking 79 out of 152 countries. This percentage is below the average of 24.06%.

Fuel exports (% of merchandise exports): Guyana's fuel exports make up 41.45% of its total merchandise exports, ranking 18 out of 147 countries. This value is significantly higher than the average of 13.70%.

Ores and metals exports (% of merchandise exports): Guyana's ores and metals exports constitute 3.08% of its total merchandise exports, ranking 80 out of 152 countries. This percentage is below the average of 9.10%.

Merchandise exports by the reporting economy, residual (% of total merchandise exports): Guyana's residual merchandise exports account for 9.15% of its total merchandise exports, ranking 13 out of 166 countries. This value is notably above the average of 3.20%.

Summary

Guyana's key macroeconomic indicators show a heavy reliance on fuel exports, comprising 41.45% of total merchandise exports, which is significantly higher than the global average. However, the country's low diversification in agricultural raw materials, ores, and metals exports indicates potential vulnerability to market fluctuations in fuel prices. This highlights the importance for Guyana to focus on diversifying its export base to ensure sustainable economic growth and reduce dependency on a single commodity.

Technology Exports

Manufactures exports (% of merchandise exports): Guyana's value for this attribute is 1.07%, significantly below the average of 42.62%. This places Guyana at rank 150 out of 152 countries in the dataset.

High-technology exports (current US$): Guyana's high-technology exports amount to $1,438,979, a substantial difference from the average of $16,655,934,078.80. Guyana ranks 133 out of 151 countries in this aspect.

High-technology exports (% of manufactured exports): Guyana's percentage of high-technology exports stands at 2.61%, lower than the average of 10.15%. This places Guyana at rank 108 out of 150 countries included in the dataset.

Summary

Guyana performs poorly in key macroeconomic indicators related to exports, specifically in the manufacturing and high-technology sectors. The country's low values for manufactures exports, high-technology exports, and high-technology exports as a percentage of manufactured exports indicate a lack of diversification and competitiveness in its export industry. This is crucial as strong export performance in these sectors is often associated with economic development, innovation, and global competitiveness.

Service Exports

- Service exports (BoP, current US$): Guyana's service exports amount to $208,660,491.99, significantly below the average of $28,917,292,503.82. Guyana ranks 143 out of 171 countries in this attribute.
- ICT service exports (BoP, current US$): Guyana's ICT service exports stand at $341,910, well below the average of $4,578,501,153.77. It ranks 162 out of 166 countries.
- ICT service exports (% of service exports, BoP): Guyana's ICT service exports as a percentage of total service exports is 0.16%, much lower than the average of 11.75%. Guyana ranks 165 out of 166 countries.
- Communications, computer, etc. (% of service exports, BoP): Guyana's export of communications, computer services etc. accounts for 74.12% of its service exports, above the average of 45.85%. It ranks 21 out of 169 countries.
- Transport services (% of service exports, BoP): Guyana's transport services as a percentage of total service exports is 0.89%, significantly below the average of 21.80%. Guyana is ranked 163 out of 169 countries.
- Travel services (% of service exports, BoP): Guyana's travel services contribute 11.48% to its service exports, lower than the average of 26.40%. The country ranks 118 out of 167 countries.
- Insurance and financial services (% of service exports, BoP): Guyana's insurance and financial services make up 13.50% of its service exports, higher than the average of 6.46%. Guyana ranks 20 out of 161 countries.

Summary

The analysis of key macroeconomic indicators for Guyana reveals that the country faces challenges in terms of its service exports, particularly in ICT services where it ranks poorly compared to global averages. However, Guyana demonstrates a strength in the export of communications, computer services, etc. as a percentage of total service exports, positioning it above the global average. These findings are important as they indicate areas where Guyana can focus on improving its service exports to enhance its overall economic performance and competitiveness in the global market.

Commercial Service Exports

- Guyana's Commercial service exports amount to $201.39 million, significantly below the average of $28.51 billion, ranking 142nd out of 171 countries.
- Travel services represent 11.90% of Guyana's commercial service exports, lower than the average of 27.89%, placing Guyana in 116th position out of 167 countries.
- Guyana excels in Computer, communications, and other services, constituting 73.19% of its commercial service exports, surpassing the average of 42.44% and ranking 17th out of 169 countries.
- Insurance and financial services contribute 13.99% to Guyana's commercial service exports, higher than the average of 6.97%, positioning Guyana at 20th place out of 161 countries.
- Transport services form a minimal 0.92% of Guyana's commercial service exports, well below the average of 23.37%, leading to a ranking of 164 out of 169 countries.

Summary

Guyana's commercial service exports of $201.39 million are significantly lower than the global average of $28.51 billion, leading to a ranking of 142nd out of 171 countries. However, the country excels in Computer, communications, and other services, surpassing the global average and securing the 17th position. These findings are crucial as they highlight Guyana's strengths and weaknesses in various service sectors, guiding policymakers in promoting competitive industries and addressing areas that require improvement to enhance the country's economic performance on the global stage.

Broad Import Attributes

1. ICT goods imports (% total goods imports): Guyana's ICT goods imports account for 1.86% of its total goods imports, which is below the average of 6.85%. Guyana ranks 136 out of 143 countries in this attribute.

2. Goods imports (BoP, current US$): Guyana's goods imports amount to $1.95 billion, significantly below the average of $92.01 billion. Guyana ranks 138 out of 171 countries in this attribute.

3. Imports of goods and services (BoP, current US$): Guyana's imports of goods and services stand at $3.76 billion, much lower than the average of $120.32 billion. Guyana ranks 129 out of 170 countries in this attribute.

4. Imports of goods, services and primary income (BoP, current US$): Guyana's imports in this category total $3.93 billion, well below the average of $144.51 billion. Guyana ranks 130 out of 170 countries in this attribute.

Summary

Guyana's macroeconomic indicators reveal a consistent trend of below-average imports across various categories, placing the country in lower rankings globally. This suggests that Guyana may have limited participation in global trade and economic exchange compared to other nations. Addressing this imbalance in imports could be crucial for diversifying Guyana's economy, fostering international relationships, and enhancing overall economic growth and resilience.

Merchandise Imports

1. Guyana's merchandise imports amount to $2.25 billion. This is significantly below the average of $89.39 billion, ranking Guyana 145th out of 190 countries included in the data.

2. Manufactures imports account for 65.17% of Guyana's merchandise imports, slightly below the average of 66.76%. Guyana ranks 92nd out of 152 countries in this category.

3. Agricultural raw materials imports make up only 0.16% of Guyana's merchandise imports, well below the average of 1.27%. Guyana ranks 150th out of 152 countries for this attribute.

4. Guyana's food imports constitute 15.23% of merchandise imports, slightly lower than the average of 15.89%. Guyana ranks 67th out of 152 countries in this aspect.

5. Fuel imports represent 22.03% of Guyana's merchandise imports, significantly higher than the average of 11.38%. Guyana ranks 9th out of 152 countries for fuel imports.

6. Ores and metals imports make up 1.05% of Guyana's merchandise imports, below the average of 2.57%, ranking Guyana 112th out of 152 countries for this category.

7. Guyana's residual merchandise imports account for 1.36% of total imports, below the average of 2.51%. Guyana ranks 55th out of 180 countries for this attribute.

Summary

Guyana's merchandise import profile indicates a significant reliance on fuel imports, exceeding the global average by a large margin and ranking 9th globally in this category. Conversely, the country's imports of agricultural raw materials are notably low, ranking 150th out of 152 countries. These import trends are crucial as they highlight Guyana's vulnerability to fluctuations in fuel prices and its limited diversity in agricultural imports, which could impact its trade balance and economic stability.

Service Imports

Service imports in Guyana amount to approximately $1.80 billion. This is significantly below the average service imports of $27.62 billion, ranking Guyana 101st out of 171 countries.
Communications, computer, etc. form a high percentage (79.25%) of Guyana's service imports, well above the average of 44.40%. Guyana ranks 4th out of 169 countries in this aspect.
Guyana's transport services as a percentage of service imports is relatively low at 16.42%, compared to the average of 32.90%. This places Guyana at 151st out of 169 countries.
Travel services represent only 1.92% of Guyana's service imports, significantly below the average of 14.14%. Guyana ranks 159th out of 169 countries in this category.
Insurance and financial services account for 2.41% of Guyana's service imports, considerably lower than the average of 8.53%. This places Guyana at 151st out of 169 countries.

Summary

Guyana's low overall service imports of $1.80 billion, ranking 101st out of 171 countries, reflect a significant disparity from the global average of $27.62 billion. However, the high proportion of communications, computer, etc. in Guyana's service imports, at 79.25% compared to the average of 44.40%, positions the country 4th globally in this aspect. This suggests a strong reliance on technology-related services for Guyana's economic activities. It is important to note these findings as they highlight Guyana's specialization and potential vulnerabilities in certain service sectors, guiding policymakers in fostering diversification and resilience in the economy.

Commercial Service Imports

Analysis of Commercial Service Imports (current US$): Guyana's value of 1798526800.26786 is significantly below the average of 27102746128.60033. This places Guyana at rank 98 out of 171 countries in the dataset.

Analysis of Computer, Communications and Other Services (% of Commercial Service Imports): Guyana's value of 79.22% is well above the average of 41.71%. This places Guyana at an impressive rank of 4 out of 169 countries.

Analysis of Insurance and Financial Services (% of Commercial Service Imports): Guyana's value of 2.41% is below the average of 8.85%. This places Guyana at rank 153 out of 169 countries.

Analysis of Transport Services (% of Commercial Service Imports): Guyana's value of 16.44% is below the average of 34.71%. This places Guyana at rank 153 out of 169 countries.

Analysis of Travel Services (% of Commercial Service Imports): Guyana's value of 1.92% is below the average of 14.73%. This places Guyana at rank 161 out of 169 countries.

Summary

Overall, Guyana's commercial service imports are significantly below the average, indicating a smaller volume of international transactions in comparison to other countries in the dataset. However, Guyana stands out in terms of its high percentage of Computer, Communications, and Other Services relative to its imports, ranking impressively at 4th place. On the other hand, the country lags behind in Insurance and Financial Services, Transport Services, and Travel Services, reflecting potential areas for improvement in its service sector efficiency and diversity.

These findings are important as they highlight Guyana's strengths and weaknesses in the global market, providing insights for policymakers and businesses on areas that need attention and potential opportunities for growth and development. By addressing the shortcomings in certain service sectors, Guyana can enhance its competitiveness and integration in the international economy, fostering sustainable economic progress.

Infrastructure

For "Air transport, freight (million ton-km)", Guyana's value of 0.10855 is significantly below the average of 1384.37 million ton-km. Guyana is ranked 117th out of 126 countries in this dataset.

In terms of "Air transport, registered carrier departures worldwide", Guyana's value of 1502 departures is far below the average of 134365.61 departures. Guyana holds the 129th position out of 149 countries in this dataset.

Looking at "Air transport, passengers carried", Guyana's value of 17990 passengers is notably lower than the average of 11848242.70 passengers. Guyana ranks 139th out of 149 countries in this dataset.

Regarding "Container port traffic (TEU: 20 foot equivalent units)", Guyana's value of 58376.5 TEU is well below the average of 6907110.27 TEU. Guyana occupies the 105th spot out of 110 countries in this dataset.

Summary

Overall, Guyana demonstrates significantly lower performance in key macroeconomic indicators related to air transport and maritime trade compared to global averages and rankings. This may indicate challenges in connectivity, trade facilitation, and economic integration with the global market. Addressing these gaps in transportation infrastructure and logistics could be crucial for enhancing Guyana's trade competitiveness, fostering economic growth, and attracting foreign investments.

Information Technology Infrastructure

- Secure Internet servers: Guyana has 48 secure internet servers, well below the average of 458294. Guyana ranks 174 out of 193 countries in this attribute data.
- Secure Internet servers (per 1 million people): Guyana has 60.21 secure internet servers per 1 million people, significantly lower than the average of 14067.17. Guyana ranks 145 out of 193 countries in this attribute data.
- Individuals using the Internet (% of population): With 81.80% of its population using the internet, Guyana surpasses the average of 64.77%. Guyana ranks 58 out of 180 countries in this attribute data.
- Fixed broadband subscriptions: Guyana has 95000 fixed broadband subscriptions, falling far short of the average of 6591956. Guyana ranks 123 out of 185 countries in this attribute data.
- Mobile cellular subscriptions: Guyana has 856000 mobile cellular subscriptions, less than the average of 42526463.86. Guyana ranks 158 out of 193 countries in this attribute data.

Summary

• Guyana exhibits below-average indicators in secure internet servers, secure internet servers per 1 million people, fixed broadband subscriptions, and mobile cellular subscriptions compared to global averages. However, the country outperforms the global average in terms of individuals using the internet. These statistics are crucial as they reflect Guyana's level of digital infrastructure development, connectivity, and technology adoption compared to other nations, highlighting areas for potential improvement and investment.

Energy Consumption

Analysis:

Renewable energy consumption in Guyana is relatively low at 12.04%, which is significantly below the global average of 32.18%. Guyana is ranked 132 out of 191 countries for this metric. This indicates a need for increased efforts to transition towards more sustainable energy sources in the country.

On the other hand, Guyana's CO2 emissions stand at 2768.5 kt, a figure much lower than the average of 171895.94 kt. Guyana ranks 139 out of 188 countries in CO2 emissions, showcasing its relatively low contribution to global carbon emissions compared to other nations. This suggests that Guyana has a relatively low carbon footprint compared to many other countries.

Summary

Guyana's renewable energy consumption is notably below the global average, highlighting the need for a transition towards more sustainable energy sources. However, the country's low CO2 emissions indicate a relatively low carbon footprint compared to other nations. These findings underscore the importance of balancing economic development with environmental sustainability to secure a more resilient and greener future for Guyana.

Government Balance Sheet

- Guyana's Total reserves (% of total external debt) stand at 45.17%, below the average of 66.13%. It ranks 41 out of 102 countries in the dataset.

- For Reserves and related items (BoP, current US$), Guyana's value is 104,707,959.56, significantly lower than the average of 1,924,407,186.58. The country ranks 73 out of 171 countries.

- Guyana's Total reserves minus gold (current US$) of 680,634,183.68 is far below the average of 74,221,588,171.61. This places Guyana at the 134th position out of 161 countries.

- Similarly, Guyana's Total reserves (includes gold, current US$) is 680,634,183.68, falling short of the average of 85,708,019,773.47. This positions Guyana at rank 136 out of 161 countries.

- Guyana's Total reserves in months of imports is 2.08, significantly below the average of 7.10. The country ranks 128 out of 151 countries in the dataset.

Summary

Overall, Guyana's total reserves indicators paint a picture of relatively lower reserve levels compared to the global averages. The country ranks below average in total reserves (% of total external debt), reserves and related items (BoP, current US$), total reserves minus gold (current US$), total reserves including gold (current US$), and total reserves in months of imports. These lower reserve levels indicate a potential vulnerability in terms of financial stability and ability to withstand economic shocks or external pressures.

Taxes

For the attribute of Tariff rate, applied, weighted mean, all products (%), Guyana has a value of 6.51%. This is 1.30% above the average of 5.21%. Guyana ranks 53rd out of 153 countries in this attribute data.

Summary

Guyana has a Tariff rate of 6.51%, which is higher than the global average of 5.21%. This places Guyana at the 53rd position out of 153 countries for this attribute. This higher tariff rate could indicate protectionist trade policies aimed at shielding domestic industries, potentially impacting international trade relations and economic competitiveness.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Average precipitation in depth (mm per year)	15/178
Total natural resources rents (% of GDP)	17/175
Foreign direct investment, net inflows (% of GDP)	4/178
Merchandise exports by the reporting economy, residual (% of total merchandise exports)	13/166
Fuel imports (% of merchandise imports)	9/152
Communications, computer, etc. (% of service imports, BoP)	4/169
Computer, communications and other services (% of commercial service imports)	4/169

Ranks in Bottom Decile For:

Attribute	Rank/Total
Armed forces personnel, total	151/164
Services, value added (% of GDP)	171/183
Inflation, GDP deflator (annual %)	188/188
External debt stocks, private nonguaranteed (PNG) (DOD, current US$)	83/91
ICT goods exports (% of total goods exports)	132/142
Manufactures exports (% of merchandise exports)	150/152
ICT service exports (BoP, current US$)	162/166
ICT service exports (% of service exports, BoP)	165/166
Transport services (% of service exports, BoP)	163/169
Transport services (% of commercial service exports)	164/169
ICT goods imports (% total goods imports)	136/143
Agricultural raw materials imports (% of merchandise imports)	150/152
Travel services (% of service imports, BoP)	159/169
Insurance and financial services (% of commercial service imports)	153/169
Transport services (% of commercial service imports)	153/169
Travel services (% of commercial service imports)	161/169
Air transport, freight (million ton-km)	117/126
Air transport, passengers carried	139/149
Container port traffic (TEU: 20 foot equivalent units)	105/110
Secure Internet servers	174/193