Guyana records 33.3% GDP growth in first half of 2026

Guyana’s economy continued its robust expansion in the first half of 2026, with real Gross Domestic Product (GDP) increasing by an estimated 33.3 per cent, as strong performances across key sectors sustained the country’s rapid economic momentum.

President Dr Mohamed Irfaan Ali announced the latest figures on Monday during a press conference at the Office of the President, noting that the performance reflects growth against an already significantly expanded economic base.

The non-oil economy also recorded estimated growth of 10.1 per cent, marking the sixth consecutive year of expansion following the contraction recorded in 2020.

The president said, “Our overall GDP grew by an estimated 33.3 percent in the first half of 2026. The non oil economy grew by an estimated 10.1 percent.”

The strong first-half performance has prompted a revision of Guyana’s full-year real GDP growth forecast to 20.8 per cent, while non-oil GDP is projected to expand by 10.2 per cent.

Growth was broad-based, with the mining and quarrying sector expanding by an estimated 40.7 per cent.

The oil and gas subsector grew by 41.3 per cent, while other mining activities, including sand, stone, manganese and diamond, expanded by 40 per cent. Gold and mining recorded estimated growth of 11.3 per cent.

Construction remained another major engine of economic activity, expanding by 24.7 per cent, while services grew by 7.2 per cent and manufacturing by 3 per cent.

President Ali said the expansion is translating into increased economic activity, investment and opportunities, underscoring the link between industrial development and improved household prospects.

“Industries lead to jobs. Jobs lead to more income. More income leads to better economic prospects. And that’s how the economic cycle works,” the head of state said.

While agriculture, forestry and fishing collectively contracted marginally by 0.5 per cent amid higher transportation and input costs and challenging weather conditions, several subsectors registered growth.

Sugar expanded by 19.3 per cent, rice by 4.4 per cent, forestry by 15.4 per cent and fishing by 4.1 per cent.

Net domestic credit stood at $1.286 trillion at the end of June. This represents a 15.5 per cent increase over the December 2025 position.

Credit to the private sector grew by 11.5 per cent, while real estate mortgages expanded by 21.2 per cent.

The head of state said the cumulative indicators point to an economy demonstrating resilience, diversification and structural strength.

He said, “Isn’t this an economy that is healthy? Isn’t this an economy that is demonstrating strength, that is demonstrating diversification, that is demonstrating structural stability?”

Despite the significant pace of expansion, the government continues to focus on ensuring economic growth translates into tangible improvements in citizens’ lives, with the president reiterating his commitment to expanding opportunities for households.

“The people of Guyana, every household, will surely, most definitely, see not only enormous improvement in their personal life but enormous policies and programs that will enhance their ability of owning more things and, of course, advancing their own life,” the president said. [DPI]