Guyana Economy

ECONOMY: AGRICULTURE, FORESTRY AND FISHING

According to smber, agriculture, to which 15.8% of the active population is dedicated and which covers 31.1% of GDP (2007), can count on a very small area (only 2.5% of the territory, partly still unexplored), limited almost exclusively to the coastal strip, especially to the E of the Essequibo river. For commercial purposes, the main crop is that of sugar cane, practiced both in large and well-organized plantations, and in small family-run plots. Thanks to the substantial investments made in the field of agricultural development (creation of irrigation infrastructures, experimentation with new crops, etc.), Guyana has practically achieved self-sufficiency for almost all food products; rice stands out clearly, favored by the abundance of water and the suitable climate and unique crop, together with sugar cane, to be adequately mechanized; its production takes place in private companies and the state then intervenes in the irrigation process and industrial processing. Coconut palm crops, citrus fruits (including lime or lime), cassava, coffee, bananas etc. Forest resources are very rich, which due to the lack of communication routes and an adequate transport network, are not yet sufficiently exploited; in 1986, the creation of a Ministry of Forests, however, was a prelude to a better exploitation of the sector, also implemented through an agreement with private companies. In addition to the timber, transported and removed by flushing comprising very precious essences (Mora excelsa, Carapa guianensis, Eperua falcata and Ocotea rodiaei), it obtains the balata, a rubbery substance similar to rubber. Poorly developed and destined for local consumption is the breeding, which, if the numerous poultry are excluded, does not have suitable spaces (the savannah areas are small) nor a favorable climate; the fishing, practiced on the shallow waters of the coast, allows a certain export, mainly of crustaceans (especially towards the USA).

ECONOMY: MINERAL RESOURCES AND INDUSTRY

The second main wealth of the country is mining, given that Guyana is one of the world’s largest producers of bauxite, extracted in Ituni, Demba and Kwakwani; other important mineral products are gold (sieved at the alluvial deposits of Potaro, Mazaruni, Cuyuni and Rapununi), diamonds (in the Mazaruni valley), manganese and asbestos. Illegal economy strongly affects this sector. Energy production is very lacking, the backwardness of which constitutes an obstacle to industrialization; Electricity is mostly of thermal origin, produced with imported fuels, although there are excellent prospects in the hydroelectric field, given the country’s frequent and abundant water jumps. The development of industry is almost exclusively linked to the first processing of mineral products, especially bauxite (with main plants in Linden, Everton and Kwakwani, although most of the mineral continues to be exported raw) and the transformation of agricultural products: therefore sugar refineries, rum and alcohol distilleries, breweries, oil mills, tobacco factories. The secondary sector accounts for about one fifth of GDP, while the tertiary sector accounts for almost half; overall, the two sectors employ 84.2% of the workforce. rum and alcohol distilleries, breweries, oil mills, tobacco factories. The secondary sector accounts for about one fifth of GDP, while the tertiary sector accounts for almost half; overall, the two sectors employ 84.2% of the workforce. rum and alcohol distilleries, breweries, oil mills, tobacco factories. The secondary sector accounts for about one fifth of GDP, while the tertiary sector accounts for almost half; overall, the two sectors employ 84.2% of the workforce.

Guyana Economy