Guyana

B

Forestry and Fishing

In 2005 the timber harvest from Guyana’s extensive forests was 1,276,009 cubic meters (45.1 million cubic feet). Almost all of the harvest was made up of hardwoods, used mainly in construction and furniture-making. Timber has become an important export, and the government sought foreign investors to expand its forestry industry.

Fishing in Guyana is concentrated along the Atlantic coast. The industry expanded during the 1990s and early 2000s, with shrimp becoming a valuable export. The catch in 2004 was 57,325 metric tons.

C

Mining

Guyana is a major producer of bauxite; 1.5 million metric tons were mined in 2004. Guyana also produces gold and diamonds.

D

Manufacturing and Energy

Manufacturing in Guyana largely involves the processing of minerals, especially bauxite, and of agricultural and forest products, including sugar, rice, rum, and timber for export. Factories also produce foodstuffs, beverages, construction materials, clothing, soap, and cigarettes for local use.

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In 2003 Guyana generated 779 million kilowatt-hours of electricity, 99 percent of which was produced in thermal facilities. The country has a great potential for producing hydroelectricity.

E

Tourism

With its vast, untouched rain forests, Guyana has great tourism potential. The government has begun to target the tourist sector for development, especially ecotourism, but tourism has so far not contributed greatly to Guyana’s economy. Reports of violence in Georgetown during the early 2000s deterred potential tourists from visiting the country.

F

Currency and Foreign Trade

The Guyana dollar consists of 100 cents (199.90 Guyana dollars equal U.S.$1; 2005 average). The Bank of Guyana, established in 1965, is the central bank.

The chief exports of Guyana are sugar, bauxite, rice, gold, shrimp, and timber. The principal imports are petroleum products, machinery, and consumer goods. In 2004 imports cost $636 million, and exports earned $543 million. The principal purchasers for the country’s exports were Canada, the United Kingdom, and Trinidad and Tobago. Guyana’s imports come mainly from the United States, Trinidad and Tobago, and the United Kingdom.

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