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flag Guyana Guyana: Trade Profile

Foreign Trade in Figures

The trade balance is in deficit, despite the high prices of export products, since there is a simultaneous increase in the cost of raw materials and consumption goods. It is the increase in rice and oil exports which has stimulated the growth in 2011.

With an economy heavily dependent on international trade, the government of Guyana is pro-active in what concerns multilateral trade negotiations and tries to increase the competitiveness of its products. The country is a member of  WTO since 1995; its customs duties are low and its non-tariff barriers are moderate. In addition, the goods coming from CARICOM are duty free. However, high duties (up to 100%) are imposed on certain products such as agricultural products, alcohol and tobacco.

The main trading partners of the Republic of Guyana are the NAFTA  (North American Free Trade Agreement), the CARICOM and the European Union.

 
Foreign Trade Indicators 20072008200920102011
Imports of Goods (million USD) 1,0591,3121,1611,4001,820
Exports of Goods (million USD) 6797957638771,130
Imports of Services (million USD) 273323270344408
Exports of Services (million USD) 173212171248240
Trade Balance (million USD) -288-394---
Current Account (million USD) -112-192---

Source: WTO - World Trade Organization ; World Bank - Last Available Data.

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Main Partner Countries

Main Customers
(% of Exports)
2010
United States 21.8%
Canada 18.5%
United Kingdom 9.5%
Germany 6.5%
Ukraine 5.7%
See More Countries 38.1%
Main Suppliers
(% of Imports)
2010
United States 28.1%
Trinidad and Tobago 17.1%
Neth. Antilles 8.9%
Suriname 8.7%
China 5.8%
See More Countries 31.4%

Source: Comtrade, Last Available Data

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Main Products

Main Exports
(% of Exports)
2010
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 26.6%
RiceRice 18.5%
Aluminium ores and concentratesAluminium ores and concentrates 18.1%
Cane or beet sugar and chemically pure sucrose, in...Cane or beet sugar and chemically pure sucrose, in solid form 12.5%
Undenatured ethyl alcohol of an alcoholic strength...Undenatured ethyl alcohol of an alcoholic strength by volume of < 80%; spirits, liqueurs and other spirituous beverages (excl. compound alcoholic preparations of a kind used for the manufacture of beverages) 3.1%
See More Products 21.2%
Main Imports
(% of Imports)
2010
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 28.0%
Self-propelled bulldozers, angledozers, graders,...Self-propelled bulldozers, angledozers, graders, levellers, scrapers, mechanical shovels, excavators, shovel loaders, tamping machines and road rollers 3.7%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.8%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 2.5%
Motor vehicles for the transport of goods, incl....Motor vehicles for the transport of goods, incl. chassis with engine and cab 2.0%
See More Products 60.9%

Source: Comtrade, Last Available Data

 

To go further, check out our service Import export flows

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Commercial Policy

Main International Economic Cooperation
Member of World Trade Organisation
Memeber of Caribbean Community (CARICOM)

Member of Free Trade Area of Americas (FTAA)

Member of Association of Caribbean States (ACS)

Member of Organization of American States (OAS)

Assessment of Commercial Policy
Country’s commercial policy
Average Customs Duty (Excluding Agricultural Products)
11.62%
 

List of tariffs and local taxes that apply to your product on our service Customs duties and local taxes

 
Useful Resources
Guyana Revenue Authority



 

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Learn more about How to Export to Guyana on Globaltrade.net, the Directory for International Trade Service Providers.
 

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Last Updates: May 2012

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