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Guyana

Introduction to Guyana

Originally a Dutch colony in the 17th century, by 1815 Guyana had become a British possession. The abolition of slavery led to black settlement of urban areas and the importation of indentured servants from India to work the sugar plantations. This ethnocultural divide has persisted and has led to turbulent politics. Guyana achieved independence from the UK in 1966, but until the early 1990s it was ruled mostly by socialist-oriented governments. In 1992, Cheddi JAGAN was elected president, in what is considered the country's first free and fair election since independence. Upon his death five years later, he was succeeded by his wife Janet, who resigned in 1999 due to poor health. Her successor, Bharrat JAGDEO, was reelected in 2001.

Government

Capital:

Georgetown 

Independence:

26 May 1966 (from UK) 

National holiday:

Republic Day, 23 February (1970) 

Economy

Economy overview:

The Guyanese economy exhibited moderate economic growth in 2001-02, based on expansion in the agricultural and mining sectors, a more favorable atmosphere for business initiatives, a more realistic exchange rate, fairly low inflation, and the continued support of international organizations. Growth then slowed in 2003. Chronic problems include a shortage of skilled labor and a deficient infrastructure. The government is juggling a sizable external debt against the urgent need for expanded public investment. The bauxite mining sector should benefit in the near term by restructuring and partial privatization. 

GDP:

purchasing power parity - $2.797 billion (2004 est.) 

GDP - composition by sector:

agriculture: 37.2%
industry: 22.7%
services: 40.1% (2004 est.)

Agriculture products:

sugar, rice, wheat, vegetable oils; beef, pork, poultry, dairy products; fish (shrimp) 

Industries:

bauxite, sugar, rice milling, timber, textiles, gold mining 

Transportation

Waterways:

1,077 km
note: Berbice, Demerara, and Essequibo rivers are navigable by oceangoing vessels for 150 km, 100 km, and 80 km respectively (2004)

Ports and harbors:

Bartica, Georgetown, Linden, New Amsterdam, Parika

Merchant marine:

total: 5 ships (1,000 GRT or over) 7,475 GRT/8,758 DWT
foreign-owned: Barbados 1, Panama 1
registered in other countries: 8 (2003 est.)
by type: cargo 3, container 1, refrigerated cargo 1

Airports:

49 (2003 est.)

 

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