Guyana - ECONOMY

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Gross Domestic Product (GDP): In 1990 US$275 million, or US$369 per capita, one of lowest in the Western Hemisphere.

Agriculture: Most important sector of economy, accounting for 30 percent of GDP in 1989. Sugar and rice most important crops.

Mining: One of largest bauxite reserves in the world. Nationalization of the industry and labor disputes have hampered mining operations and refining of bauxite into alumina in 1991 Guyana exported only small amounts of unprocessed bauxite ore. Unknown reserves of gold and diamonds.

Manufacturing: Small sector consisting of food processing, mineral processing, textiles, ceramics, and pharmaceuticals.

Exports: US$204 million in 1990. Major commodities: sugar, bauxite, shrimp, rice, and gold.

Imports: US$250 million in 1990. Primarily fuel, machinery, and consumer goods.

Debt: US$1.96 billion (Dec. 1990)

Currency: Guyanese dollar (G$) divided into 100 cents. G$ repeatedly devalued in 1980s official exchange rate dropped from US$1=G$4.252 in 1985 to US$1=G$10 in 1987. In April 1989, official exchange rate was US$1=G$33. As of December 1992, official rate was US$1=G$125, with adjustments made weekly.

Fiscal Year: Calendar year.

Data as of January 1992


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