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The Economic Activity of Guyana

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Guyana’s economy is dependent largely on its agricultural production, and in the export of sugar, bauxite, gold, rice, shrimp and timbre. These products comprise the 60% of the country’s GDP. The country experienced a boost in foreign direct investments in their major products such as sugar, rice, and mining industry products. They export sugar, bauxite, rice, alumina, gold, shrimp molasses and timber with their export partners: Canada, United States of America, United Kingdom, Netherlands, Portugal, Trinidad and Tobago, Jamaica and Ukraine. On the other hand, they import machinery, manufactures, petroleum and other food from the United States of America, Trinidad and Tobago, Finland, Cuba and China.

The country of Guyana is very rich in agriculture. Among its products are sugar cane, rice, edible oils, poultry, pork, beef, shrimp and fish. They use these products for business and for their daily consumption. On the other hand, they are also into the industries, with products such as sugar, timber, textiles, rice milling, bauxite and gold mining.

As of 2007, Guyana has a low unemployment rate of 11% which is remarkably good, though they also experience a couple of problems through the years. With some of their skilled labor work force immigrating to other countries, they experience lack in experts in certain fields and areas of work. Also, they suffer from deficient infrastructure. In the recession of the year 2009, Guyana has been affected as much, experiencing a slowdown in the growth of their economy. They suffered greatly from decrease in domestic economy and a huge drop in import costs.

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