Guyana

Explore how Guyana is adopting sustainable practices and innovations to address environmental challenges on Innovando.News: Guyana, located in the northeastern part of South America, is a country rich in culture and biodiversity. With a population of around 790.000, Georgetown, the capital, stands out for its colonial architecture and vibrant cultural life. The country is famous for its rainforests and rivers, while the Highlands offer breathtaking landscapes. In recent years, Guyana has seen extraordinary economic growth, thanks to the discovery of offshore oil fields, which has revitalized the economy. Agriculture and mining remain crucial, with exports of sugar, rice and gold. Guyanese culture, a fascinating mix of indigenous, African, Indian and European influences, is reflected in its traditions, celebrations and culinary delights. With its complex history and growing potential, Guyana is poised to write a new chapter in its fascinating journey.

Summary data on Guyana

• Total population: Approximately 790.000 inhabitants.
• Population growth rate: Approximately 0,5% per annum.
• Capital: Georgetown, with approximately 200.000 inhabitants.
• Main cities: In addition to Georgetown, other significant towns include Linden, New Amsterdam, and Anna Regina.
• Countries it bordersIt borders Venezuela to the west, Brazil to the south and Suriname to the east; to the north it overlooks the Atlantic Ocean.
• Nominal GDP: Approximately USD 10 billion.
• Pro-capite GDP: Approximately USD 12.600.
• GDP growth rate: Around 19% in 2022, supported by the rapidly expanding oil industry.
• Inflation: About 6%, influenced by global factors and food prices.
• Unemployment rate: Approximately 10%.
• Trade balance: Negative, with a trade deficit due to high imports of consumer goods.
• Major business partners: United States, Canada, United Kingdom, and Trinidad and Tobago.
• Public debt: Approximately 50% of GDP, managed at sustainable levels.
• Public spending on R&D (Research and Development): Around 0,5% of GDP, with investment in innovation growing.
• Main economic sectors: Petroleum, agriculture (rice, sugar), forestry and mining.
• Currency: Guyanese Dollar (GYD).
• Interest rate: Approximately 4-5%, set by the Central Bank of Guyana.
• Foreign exchange reserves: Approximately USD 1 billion.
• Main exports: Oil, rice, sugar and bauxite.
• Main imports: Food products, consumer goods, machinery and fuels.
• Human Development Index (HDI): Moderate, with a score of around 0,665.
• Literacy rate: Approximately 97%.
• Life expectancy: About 70 years old.
• Position in the Global Innovation Index: Low position, with significant improvements in technology and infrastructure needed.
• Corruption Perception Index: Moderate perception of corruption, with a score of around 35 out of 100.

Insights into Guyana

1. Country Name

• Official Country Name: Cooperative Republic of Guyana
• Short form and long form: Guyana (short form); Cooperative Republic of Guyana (long form)

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2. Geography

• Geographical position: Guyana is located in the northeastern part of South America. It borders the Atlantic Ocean to the north, Suriname to the east, Brazil to the south, and Venezuela to the west.
• Area Approximately 214.970 km².
• Description of the landscape: The Guyanese landscape is characterized by a combination of rainforests, savannahs and rivers. The northern regions of the island are flat and coastal, while the interior is mountainous, with the Guyana Highlands mountain range. The climate is tropical, with a rainy season from May to August and from November to January.

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3. Population

• Number of inhabitants: Approximately 790.000 inhabitants.
• Population growth rate: The population growth rate is around 0,5% per year.
• Major cities and population distribution: Major cities include Georgetown (the capital), Linden, and New Amsterdam. The population is concentrated mainly along the coast, where most of the urban areas are located.

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4. Capital and main cities

• Name of the capital: Georgetown.
• Information on the main cities: Georgetown is the political, cultural and economic center of the country, known for its colonial architecture and markets. Linden is a major mining center, while New Amsterdam is a historic port city.

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5. economy

Nominal GDP and GDP per capita

Guyana has a nominal GDP of approximately US$12 billion, with a GDP per capita of approximately US$15.000. The economy is growing, particularly due to the discovery of offshore oil fields.

Main economic sectors (agriculture, industry, services)

Guyana's economy is diversified, with agriculture accounting for about 25% of GDP. Major agricultural products include sugar, rice, and bananas. The mining sector, particularly gold and bauxite mining, is also crucial. The service sector accounts for about 60% of GDP and includes tourism, trade, and public administration.

GDP growth rate and inflation

In recent years, Guyana has seen very high GDP growth rates of over 25%, driven primarily by the expanding oil industry. Inflation has been moderate, but has shown signs of rising due to global factors.

Unemployment rate and trade balance

The unemployment rate is estimated at around 12%. The trade balance is generally negative, as the country imports more goods than it exports, but oil exports are changing this dynamic.

Public debt

Guyana’s public debt is prudently managed and stands at around 50% of GDP.

Main exports and imports

Major exports include gold, bauxite, sugar and rice. Imports consist of consumer goods, machinery and fuel, with major trading partners including the United States, Canada and the United Kingdom.

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6. Political system and government

• Type of government: Presidential republic.
• Political structure: Guyana has a presidential system in which the president is both the head of state and the head of government. The National Assembly is unicameral.
• Main political parties and electoral organization: The main parties include the Freedom and National Justice Party (APNU) and the People's Progress Party (PPP). The elections were generally considered free, but saw significant political tensions.

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7. History and culture

Brief historical overview of the country

Guyana has a complex history of colonization, first by the Portuguese, then the Dutch, and finally the British. It gained independence in 1966 and has experienced periods of political instability and ethnic conflict. In recent years, the country has seen increasing economic and political stability.

Cultural and linguistic traditions

Guyanese culture is a mix of indigenous, African, Indian and European influences. The official language is English, but many local and creole languages ​​are also spoken. Cultural traditions include music, dance and festivities such as Diwali and Mashramani Carnival.

Cultural heritage (monuments, UNESCO sites, cultural events)

Guyana is home to several historic sites, including Fort Zeelandia and St. George's Cathedral. Cultural events such as Mashramani celebrate independence with parades and dances.

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8. Innovation and development

• Position in the Global Innovation Index: Guyana ranks moderately in global innovation indices, with growth opportunities in technology sectors.
• R&D (Research and Development) Spending: Spending on R&D is limited, but there are efforts to improve education and the technology sector.
• Advanced technological sectors and main innovations of the country: There are initiatives to develop the information and communication technology sector, but progress is still in its early stages.

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9. Education and health

• Literacy rate: About 98%.
• Structure of the education system: Education is free and compulsory until the age of 12, with an educational system that includes public and private schools.
• Quality and accessibility of the health system: The healthcare system is mixed, with public and private services offering varying levels of care.
• Life expectancy: About 69 years old.

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10. International rankings

• Position in the Human Development Index (HDI): Medium, with an HDI around 0,663.
• Position in the Corruption Perceptions Index (CPI): Low ranking, with significant concerns about corruption and governance.
• Position in global economic indices: Average location for ease of doing business, with opportunities for improvement.

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11. Environmental policies

• The country's efforts in terms of sustainability: Guyana has initiated policies for environmental sustainability and protection of natural resources, addressing challenges such as deforestation and climate change.
• Environmental policies and international commitments: They participate in various international agreements on environmental protection and sustainability.

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12. Curiosities and peculiarities

• Interesting or unique facts about the country: Guyana is the only English-speaking country in South America and has extraordinary biodiversity, with vast rainforests and unique animal species.
• Important events, national holidays, gastronomic specialties: National Day on February 23 celebrates independence. Guyanese cuisine includes typical dishes such as pepperpot (a spicy stew) and rice and peas (rice with beans).