According to allcitypopulation, Guyana is located on the northern coast of South America and is bordered by Venezuela, Suriname, and Brazil. It has a total land area of 214,970 sq km, with a coastline of 459 km. The terrain is mostly rolling hills with some mountain ranges in the interior. The climate is tropical and humid. According to Petwithsupplies, the capital city of Guyana is Georgetown with a population of 118,000 (2012 Census). Other major cities include Linden, New Amsterdam.
The economy of Guyana is largely dependent on its natural resources such as gold, diamonds, bauxite and timber. Agriculture is also an important sector in the nation’s economy with rice being the main crop produced. Other crops include sugarcane, fruits and vegetables. Fishing is also an important part of Guyana’s economy with shrimps being one of the main exports. Manufacturing industries are limited but include light manufacturing such as food processing and clothing production. The country also relies heavily on foreign aid from countries such as Canada, the United States and the United Kingdom to help boost its economy. Tourism has been growing steadily over recent years with eco-tourism becoming increasingly popular due to its diverse wildlife and stunning landscapes.
Foreign Trade of Guyana
Guyana’s foreign trade is largely dominated by its exports. The main exports are gold, diamonds, bauxite and timber. Other exports include rice, sugarcane, fruits and vegetables, shrimps and light manufactured goods such as food processing and clothing production. Its main export partners are the United States, Canada, China and Brazil. Guyana also imports a variety of goods from countries around the world including machinery and transport equipment, foodstuffs and manufactured goods. Its main import partners are the United States, Canada and China.
In recent years Guyana has seen an increase in trade with its Caribbean neighbors due to the establishment of a number of free trade agreements designed to facilitate easier access to markets for both imports and exports. These agreements have helped to further boost foreign trade in Guyana as well as strengthen economic ties with other countries in the region.
In addition to foreign trade through traditional means such as shipping or air freight services, Guyana has also seen a rise in online trading over recent years as more companies seek to take advantage of its relatively low cost of doing business compared with other countries in the region. This has further increased the amount of goods being shipped into or out of Guyana each year helping to create more jobs for its citizens while at the same time helping to boost its overall economy.
Major Trading Partners of Guyana
Guyana’s major trading partners are the United States, Canada, China and Brazil. The United States is Guyana’s largest trading partner with approximately 45% of its total exports going to this country. These exports consist mainly of gold, diamonds, bauxite and timber. The US is also the main import partner for Guyana with most imports consisting of machinery and transport equipment, foodstuffs and manufactured goods.
Canada is Guyana’s second largest trading partner with around 20% of its exports going to this country. Its main exports include rice, sugarcane, fruits and vegetables as well as shrimps and light manufactured goods such as food processing and clothing production. Canada is also a major importer for Guyana with most imports being machinery and transport equipment, foodstuffs and manufactured goods.
China is another key trading partner for Guyana accounting for around 10% of its total exports while also being a major importer of goods such as machinery and transport equipment as well as consumer products. Brazil is the fourth largest trading partner accounting for approximately 5% of all exports from Guyana which consist mostly of gold, diamonds, bauxite and timber products.
In addition to these traditional trade partners there has been an increase in online trading over recent years which has helped to further boost foreign trade in Guyana by providing easier access to markets both locally and abroad while at the same time creating more jobs for its citizens.
Major Imports and Exports of Guyana
Guyana’s major imports consist of machinery and transport equipment, foodstuffs, manufactured goods, and consumer products. Machinery and transport equipment make up the bulk of imports with around 40% of all imports coming from this category. This includes items such as industrial machines, automobiles, aircrafts, ships and parts for these items. Foodstuffs comprise around 25% of all imports with items such as wheat, sugar, vegetable oils and dairy products being the most common. Manufactured goods account for roughly 20% of all imports with clothing being the most popular type while consumer products such as electronics and household appliances make up the remaining 15%.
Exports from Guyana mainly consist of gold, diamonds, bauxite and timber products. Gold is by far the country’s largest export accounting for approximately 40% of all exports with diamonds making up another 25%. Bauxite accounts for around 20%, while timber makes up the remaining 15%. The United States is Guyana’s largest trading partner for exports accounting for around 45% of total exports followed by Canada which makes up 20%, China 10%, and Brazil 5%.
In addition to these traditional trade partners there has been an increase in online trading over recent years which has helped to further boost foreign trade in Guyana by providing easier access to markets both locally and abroad while at the same time creating more jobs for its citizens.