The Sectors and Markets most widely serviced
Guyana is one of the most open economies in the Caribbean and enjoys steady export growth. Canada and the United States of America continue to be Guyana’s primary export markets; however, regional and bilateral trade agreements , including those involving CARICOM with countries such as Argentina, Brazil, China, Colombia, Costa Rica, Cuba, the Dominican Republic and Venezuela, present opportunities to diversify markets. Through these trade agreements and geographic proximity, Guyana enjoys easy access to three hundred and eleven (311) million consumers.
While Guyana’s traditional export products (e.g. sugar, rice, bauxite, gold and timber) continue to enjoy some growth, Guyana’s non-traditional exports (e.g. value-added wood products, non-traditional agricultural products, seafood and light manufacturing) are becoming an increasingly important source of export earnings. This reflects progress in the country’s increased emphasis towards diversifying the economy. With ongoing national initiatives to strengthen the value-added manufacturing and non-traditional agriculture sectors, it is likely that the trend towards export diversification will continue.
GO-Invest’s Export Promotion Division works closely with investors and lays the groundwork for businesses seeking to develop export opportunities in overseas markets. The division helps current and potential exporters promote their products in national and international exhibitions, trade fairs, and region-specific and country-specific trade missions. GO-Invest facilitated Guyanese delegations to trade shows in Canada, St Croix, Martinique and Barbados, Atlanta, Miami and New York. In identifying issues related to barriers or concerns that might hinder export business development, the division stays in frequent contact with export business groups and trade associations. This in turn, helps the division gain the business knowledge and literacy for its role in advising the government on principles for drafting effective national export policies. The Division also matches the needs and objectives of privately owned firms in the eight priority sectors with appropriate donors and investors.
- Garments and textiles
- Seafood and beef
- Tourism – in particular eco-tourism
- Horticultural products and agro-processing
- Wood, ceramic and woven handicrafts
- Information and communications technology
- Value added wood products (furniture, doors, flooring, shingles, molding, etc.)
- Processed Foods Guyana: PRINCIPAL EXPORTS 2014
Projects in each region ( 51% of the projects handled by Go-Invest in January to August 2015 are located in Region 4. Region 10 and 6 are the next 2 regions with significant number of projects. No projects were done in region 1 for this period.
Source of Investment (More than 50% of the project dealt with from January to August 2015 are local, with just 18% coming from foreign direct investment. Joint ventures are lesser of the categories of source of investment
No. of projects inn each sector (Agriculture and services are considered the most popular sectors with 30 and 28 projects respectively. ICT and Energy are seen as the sector with less projects but are considered growing sectors