This statistic shows the 20 countries with the highest growth of the gross domestic product (GDP) in 2024. In 2024, Guyana ranked 1st with an estimated GDP growth of approximately 43.57 percent compared to the previous year. GDP around the world Gross domestic product (GDP) is an indicator of the monetary value of all goods and services produced by a nation in a specific time period. GDP is a strong index of a country’s economic strength - the higher the GDP of a nation, the stronger that country’s economy. The countries in the world with the highest GDP or GDP per capita are mainly developed and emerging countries, with global gross domestic product amounting to nearly 75 trillion U.S. dollars. As of 2016, the United States is the nation in the world with the highest GDP with more than 18.56 trillion U.S. dollars, which makes up more than 15.7 percent of the global GDP. The countries with the lowest gross domestic product per capita in 2014 were mainly African nations. The country in the world with the lowest GDP per capita in 2016 was South Sudan, followed by Malawi, and Burundi. However, several economically struggling African and Asian countries such as Myanmar, Côte d'Ivoire, Bhutan, and India reported the highest growth of the gross domestic product in 2016. Also in the top 20 nations with the highest growth of the GDP is China. In 2016, the GDP in China was the second highest GDP in the world. It is estimated that by 2019 the GDP in China will grow by 6 percent. Based on this estimate, GDP in China will be at around 14.6 trillion U.S. dollars by 2019.

Monthly and long-term Guyana GDP data: historical series and analyst forecasts curated by FocusEconomics.

Guyana GY: GDP: Growth: Gross Value Added: Services data was reported at 0.545 % in 2016. This records a decrease from the previous number of 4.967 % for 2015. Guyana GY: GDP: Growth: Gross Value Added: Services data is updated yearly, averaging 2.997 % from Dec 1961 (Median) to 2016, with 56 observations. The data reached an all-time high of 19.150 % in 1975 and a record low of -9.938 % in 1963. Guyana GY: GDP: Growth: Gross Value Added: Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Guyana – Table GY.World Bank: Gross Domestic Product: Annual Growth Rate. Annual growth rate for value added in services based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

Guyana GY: GDP: Growth: Adjusted Net National Income data was reported at 3.654 % in 2017. This records an increase from the previous number of -1.161 % for 2016. Guyana GY: GDP: Growth: Adjusted Net National Income data is updated yearly, averaging 3.020 % from Dec 2011 (Median) to 2017, with 7 observations. The data reached an all-time high of 8.536 % in 2014 and a record low of -1.161 % in 2016. Guyana GY: GDP: Growth: Adjusted Net National Income data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Guyana – Table GY.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion.; ; World Bank staff estimates based on sources and methods described in 'The Changing Wealth of Nations 2018: Building a Sustainable Future' (Lange et al 2018).; Weighted Average;

Historical dataset showing Guyana gdp growth rate by year from 1961 to 2023.

Guyana: Economic growth: the rate of change of GDP: The latest value from is percent, unavailable from percent in . In comparison, the world average is 0.00 percent, based on data from countries. Historically, the average for Guyana from to is percent. The minimum value, percent, was reached in while the maximum of percent was recorded in .

Guyana had the highest real gross domestic product (GDP) in the Americas in 2023, reaching ** percent. Panama followed behind with *** percent. On the other hand, the GDP of Haiti decreased by *** percent in 2023.

Haiti is expected to experience the worst economic recession in Latin America and the Caribbean in 2024. Haiti's gross domestic product (GDP) in 2024 is forecast to be 3 percent lower than the value registered in 2023, based on constant prices. Aside from Argentina, Haiti, and Puerto Rico, most economies in the region were likely to experience economic growth in 2024, most notably, Guyana.

Historical dataset showing Guyana economic growth by year from 1960 to 2023.

Guyana GY: Claims on Other Sectors of The Domestic Economy: % of GDP data was reported at 44.863 % in 2017. This records a decrease from the previous number of 45.474 % for 2016. Guyana GY: Claims on Other Sectors of The Domestic Economy: % of GDP data is updated yearly, averaging 45.474 % from Dec 2001 (Median) to 2017, with 17 observations. The data reached an all-time high of 66.445 % in 2002 and a record low of 36.590 % in 2008. Guyana GY: Claims on Other Sectors of The Domestic Economy: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Guyana – Table GY.World Bank.WDI: Bank Loans. Claims on other sectors of the domestic economy (IFS line 52S or 32S) include gross credit from the financial system to households, nonprofit institutions serving households, nonfinancial corporations, state and local governments, and social security funds.; ; International Monetary Fund, International Financial Statistics and data files, and World Bank and OECD GDP estimates.; Weighted average;

Guyana: GDP per capita, constant dollars: The latest value from 2024 is 32932.21 U.S. dollars, an increase from 23101.35 U.S. dollars in 2023. In comparison, the world average is 15841.40 U.S. dollars, based on data from 178 countries. Historically, the average for Guyana from 1960 to 2024 is 4768.42 U.S. dollars. The minimum value, 2373.89 U.S. dollars, was reached in 1963 while the maximum of 32932.21 U.S. dollars was recorded in 2024.

The average for 2024 based on 177 countries was 3.2 percent. The highest value was in Guyana: 43.37 percent and the lowest value was in Palestine: -26.56 percent. The indicator is available from 1961 to 2024. Below is a chart for all countries where data are available.

Guyana GY: Net Bilateral Aid Flows from Development Assistance Committee Donors: New Zealand data was reported at 0.100 USD mn in 2016. This stayed constant from the previous number of 0.100 USD mn for 2015. Guyana GY: Net Bilateral Aid Flows from Development Assistance Committee Donors: New Zealand data is updated yearly, averaging 0.050 USD mn from Dec 1976 (Median) to 2016, with 19 observations. The data reached an all-time high of 0.200 USD mn in 1978 and a record low of 0.010 USD mn in 2002. Guyana GY: Net Bilateral Aid Flows from Development Assistance Committee Donors: New Zealand data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Guyana – Table GY.World Bank: Defense and Official Development Assistance. Net bilateral aid flows from DAC donors are the net disbursements of official development assistance (ODA) or official aid from the members of the Development Assistance Committee (DAC). Net disbursements are gross disbursements of grants and loans minus repayments of principal on earlier loans. ODA consists of loans made on concessional terms (with a grant element of at least 25 percent, calculated at a rate of discount of 10 percent) and grants made to promote economic development and welfare in countries and territories in the DAC list of ODA recipients. Official aid refers to aid flows from official donors to countries and territories in part II of the DAC list of recipients: more advanced countries of Central and Eastern Europe, the countries of the former Soviet Union, and certain advanced developing countries and territories. Official aid is provided under terms and conditions similar to those for ODA. Part II of the DAC List was abolished in 2005. The collection of data on official aid and other resource flows to Part II countries ended with 2004 data. DAC members are Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, Republic of Korea, Luxembourg, Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, United Kingdom, United States, and European Union Institutions. Regional aggregates include data for economies not specified elsewhere. World and income group totals include aid not allocated by country or region. Data are in current U.S. dollars.; ; Development Assistance Committee of the Organisation for Economic Co-operation and Development, Geographical Distribution of Financial Flows to Developing Countries, Development Co-operation Report, and International Development Statistics database. Data are available online at: www.oecd.org/dac/stats/idsonline.; Sum;

Time series data for the statistic Net lending/borrowing (also referred as overall balance) (% of GDP) and country Guyana. Indicator Definition:Net lending (+)/ borrowing (-) is calculated as revenue minus total expenditure. This is a core GFS balance that measures the extent to which general government is either putting financial resources at the disposal of other sectors in the economy and nonresidents (net lending), or utilizing the financial resources generated by other sectors and nonresidents (net borrowing). This balance may be viewed as an indicator of the financial impact of general government activity on the rest of the economy and nonresidents (GFSM 2001, paragraph 4.17). Note: Net lending (+)/borrowing (-) is also equal to net acquisition of financial assets minus net incurrence of liabilities.The indicator "Net lending/borrowing (also referred as overall balance) (% of GDP)" stands at -2.45 percent as of 12/31/2029, the highest value since 12/31/2016. Regarding the One-Year-Change of the series, the current value constitutes an increase of 0.3672 percentage points compared to the value the year prior.The 1 year change in percentage points is 0.3672.The 3 year change in percentage points is 1.97.The 5 year change in percentage points is 4.90.The 10 year change in percentage points is 0.0641.The Serie's long term average value is -3.67 percent. It's latest available value, on 12/31/2029, is 1.21 percentage points higher, compared to it's long term average value.The Serie's change from it's minimum value, on 12/31/2020, to it's latest available value, on 12/31/2029, is +5.33 .The Serie's change from it's maximum value, on 12/31/1999, to it's latest available value, on 12/31/2029, is -1.98 .

Guyana: Value added by industry as percent of GDP: The latest value from 2024 is 74.3 percent, an increase from 69.3 percent in 2023. In comparison, the world average is 26.35 percent, based on data from 151 countries. Historically, the average for Guyana from 1960 to 2024 is 28.53 percent. The minimum value, 16.51 percent, was reached in 1992 while the maximum of 74.3 percent was recorded in 2024.

Time series data for the statistic GDP deflator (base year varies by country) and country Guyana. Indicator Definition:The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency. The base year varies by country.The indicator "GDP deflator (base year varies by country)" stands at 91.89 as of 12/31/2024. Regarding the One-Year-Change of the series, the current value constitutes an increase of 2.39 percent compared to the value the year prior.The 1 year change in percent is 2.39.The 3 year change in percent is -1.42.The 5 year change in percent is -11.06.The 10 year change in percent is -5.63.The Serie's long term average value is 32.03. It's latest available value, on 12/31/2024, is 186.88 percent higher, compared to it's long term average value.The Serie's change in percent from it's minimum value, on 12/31/1960, to it's latest available value, on 12/31/2024, is +100,779.00%.The Serie's change in percent from it's maximum value, on 12/31/2022, to it's latest available value, on 12/31/2024, is -12.03%.

Time series data for the statistic Gross_Domestic_Product_Current_USD and country Guyana. Indicator Definition:GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.The statistic "Gross Domestic Product Current USD" stands at 24,835,899,825.90 United States Dollars as of 12/31/2024, the highest value at least since 12/31/1961, the period currently displayed. Regarding the One-Year-Change of the series, the current value constitutes an increase of 46.80 percent compared to the value the year prior.The 1 year change in percent is 46.80.The 3 year change in percent is 208.85.The 5 year change in percent is 380.04.The 10 year change in percent is 501.69.The Serie's long term average value is 2,233,004,094.63 United States Dollars. It's latest available value, on 12/31/2024, is 1,012.22 percent higher, compared to it's long term average value.The Serie's change in percent from it's minimum value, on 12/31/1960, to it's latest available value, on 12/31/2024, is +14,490.79%.The Serie's change in percent from it's maximum value, on 12/31/2024, to it's latest available value, on 12/31/2024, is 0.0%.

Guyana: Household consumption as percent of GDP: The latest value from 2005 is 73.41 percent, an increase from 58.87 percent in 2004. In comparison, the world average is 62.81 percent, based on data from 161 countries. Historically, the average for Guyana from 1960 to 2005 is 61.19 percent. The minimum value, 35.29 percent, was reached in 1986 while the maximum of 73.41 percent was recorded in 2005.

Guyana: Energy per dollar of GDP: The latest value from is Thousand Btu per chained (2009) dollar, unavailable from Thousand Btu per chained (2009) dollar in . In comparison, the world average is 0.00 Thousand Btu per chained (2009) dollar, based on data from countries. Historically, the average for Guyana from to is Thousand Btu per chained (2009) dollar. The minimum value, Thousand Btu per chained (2009) dollar, was reached in while the maximum of Thousand Btu per chained (2009) dollar was recorded in .

Guyana GY: Trade Balance: Other Countries Not Elsewhere Classified: North Korea data was reported at -0.441 USD mn in 2017. This records an increase from the previous number of -5.508 USD mn for 2016. Guyana GY: Trade Balance: Other Countries Not Elsewhere Classified: North Korea data is updated yearly, averaging -0.900 USD mn from Dec 1977 (Median) to 2017, with 40 observations. The data reached an all-time high of 1.208 USD mn in 1984 and a record low of -14.346 USD mn in 2013. Guyana GY: Trade Balance: Other Countries Not Elsewhere Classified: North Korea data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Guyana – Table GY.IMF.DOT: Trade Balance: by Country: Annual.