Macroeconomic Forecast Guyana

June 2008 | Macroeconomic Forecasts

With gold a major export, Guyana has benefited from elevated global prices for the metal in 2007. Mining firms declared 247,000 ounces of gold, which translated into export earnings totalling US$160m. Diamonds, another major export commodity, earned the country US$35mn in export earnings from 270,000 carats. With figures from the Guyana Geology & Mines Commission (GGMC) indicating that the mining sector employs more than 10,000 people directly, ongoing elevation of gold prices will help support GDP growth of around 3.5% in 2008.

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