Exporting to Guyana

Guyana (officially the Co-operative Republic of Guyana), is a country in the north of South America. Total UK exports in the year up until April 2019 amounted to £465m which makes it the UK’s 84th largest export market (ONS, 2019).

Strengthening economy

The import market has seen steady growth over the last five years and is expected to increase further in 2020 (IMF, 2019). UK exports increased in the year up until March 2019 by 159.8% (ONS, 2019). GDP is also increasing rapidly, and GDP per capita is projected to increase by 400% by 2025 (IMF, 2019).

English speaking

Guyana has under 800,000 citizens (ONS, 2019). It is the only English-speaking nation in South America. UK businesses interested in operating there will benefit from English-speaking potential partners and workforce.

Geolocation

Its strategic location makes it a gateway to South America (the country borders both Brazil and Venezuela), and also (via sea routes) to its top export destinations: the United States, Canada and China (OEC, 2019). If you are a UK business looking to reach a wide market audience, Guyana may be a great option for you.

Ease of doing business

134th

out of 190 countries (World Bank, 2020)

Currency

Guyanese dollar

Business language

English

GDP per capita

$4,984

UK is $41,030 (IMF, 2019)

Economic growth

4.1%

(IMF, 2019)

Time zone

GMT -4

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.