Editing Economy of Guyana (section)

==Major economic sectors==
Agriculture and mining are Guyana's <nowiki>most</nowiki> important economic activities, with sugar, bauxite, rice, and gold accounting for 70–75 percent of export earnings. However, the rice sector experienced a decline in 2000, with export earnings down 27 percent through the third quarter of 2000. Ocean shrimp exports, which were heavily impacted by a one-month import ban to the United States in 1999, accounted for only 3.5 percent of total export earnings that year. Shrimp exports rebounded in 2000, representing 11 percent of export earnings through the third quarter of 2000. Other exports include timber, diamonds, garments, rum, and pharmaceuticals. The value of these other exports is increasing.

=== Agriculture ===
{{main|Agriculture in Guyana}}
Sugar is the most historically important product of Guyana, however, the industry has been in decline due to global competition and other factors. It still is a major export, along with its related products molasses and rum.<ref name=":0">{{Cite web|title=South America :: Guyana — The World Factbook - Central Intelligence Agency|url=https://www.cia.gov/the-world-factbook/countries/guyana/|access-date=2020-12-04|website=www.cia.gov}}</ref> [[Banks DIH]] and [[El Dorado Rum|Demerara Distilleries]] are the countries' only distillers, but Guyana is world's 14th largest exporter of rum.<ref>{{Cite web|title=Guyana's Rum Industry on an economic high|url=https://guyanachronicle.com/2013/11/16/guyanas-rum-industry-on-an-economic-high/|access-date=2021-01-20|website=Guyana Chronicle|date=16 November 2013 |language=en-US}}</ref>

In 2018, Guyana produced 1.2 million tons of [[sugar cane]], 964 thousand tons of [[rice]], 136 thousand tons of [[coconut]], in addition to smaller productions of other products agricultural products, such as [[eggplant]] (47 thousand tons), [[pineapple]] (34 thousand tons), [[Black pepper|pepper]] (37 thousand tons), [[banana]] (23 thousand tons), [[Orange (fruit)|orange]] (21 thousand tons), [[cassava]] (20 thousand tons), etc.<ref>[http://www.fao.org/faostat/en/#data/QC/ Guyana production in 2018, by FAO]</ref>

=== Mining ===
{{main|Mining in Guyana}}
Mining has surpassed the economic importance of sugar in recent years, making up a sizable portion of Guyana's GDP. The large-scale gold and bauxite mining operations are all foreign-owned, but the vast proportion of gold and diamond mining is done by small and [[medium-scale mining|medium-scale]] miners.

=== Petroleum ===
{{Main articles|Petroleum industry in Guyana}}
In the 2010's, significant off-shore oil finds by Exxon has renewed interest in foreign investment in the country. A 2018 estimate predicts Guyana's oilfields are holding over 3.2 billion barrels.<ref name=":0" /> Off-shore crude oil extraction began in 2019. 

By 2024, [[Extraction of petroleum|oil production]] in Guyana had soared to approximately 645,000 barrels per day (bpd), marking a significant increase from 98,000 bpd in its initial full year of production. Guyana increased crude oil production by an annual average of 98,000 b/d from 2020 to 2023, making it the third-fastest growing non-OPEC producing country during this period. The expansion of this sector has significantly contributed to the national economy, with the petroleum industry driving a 62.3 percent GDP growth in 2022, the highest globally according to the [[International Monetary Fund|IMF]]. Looking forward, Guyana plans to further boost its production capacity to about 1.3 million bpd by 2027 through the development of new projects like Yellowtail, Uaru, and Whiptail.<ref>{{Cite web |title=Guyana becomes key contributor to global crude oil supply growth |url=https://www.eia.gov/todayinenergy/detail.php?id=62103 |access-date=2024-08-22 |website=U.S. Energy Information Administration |language=en-US}}</ref>
In December 2024, Guyana became the third largest per capita petroleum producing country in the world.<ref>{{cite web | url=https://www.caribbeanlife.com/guyana-now-third-largest-per-capita-oil-producer-in-the-world/ | title=Guyana now third largest per-capita oil producer in the world – Caribbean Life | date=20 December 2024 }}</ref>

==== 2025 ====
In the first quarter of 2025, Guyana’s Natural Resource Fund (NRF) received USD 605.5 million in oil revenues, including seven profit oil payments and one royalty payment. These payments were for oil produced from January to March 2025, with two payments related to December 2024 lifts. Despite an increase in daily production, the country's earnings are expected to decline due to a projected 10.9% drop in oil prices, forecasted at USD 71.9 per barrel for 2025. In 2024, Guyana's oil production grew by 57.7%, yielding 225.4 million barrels and generating USD 2.6 billion in revenue. Under the 2016 Production Sharing Agreement, Guyana receives a 2% share of oil sold and a 12.5% profit share after [[ExxonMobil]]'s expenses. The country is also set to have 246 oil lifts in 2025.<ref>{{Cite web |title=Guyana received USD 605 million oil money in first quarter of 2025 |url=https://www.surinametimes.com/artikel/guyana-received-usd-605-million-oil-money-in-first-quarter-of-2025 |access-date=2025-04-08 |website=www.surinametimes.com |language=en}}</ref>

=== Forestry ===
Guyana contains the "largest unspoiled rainforests on the continent".<ref name=":0" /> Despite the vast forests covering the country, the timber industry has remained small due to infrastructural limitations such as undeveloped roads and lacking or unreliable electricity to milling operations.<ref>{{Cite web|title=Guyana - Forestry|url=http://countrystudies.us/guyana/65.htm|access-date=2020-12-04|website=countrystudies.us}}</ref>

The country also sees large financial contributions from international organizations looking to protect the forests.

=== Fishing ===
Most of what is fished is consumed locally, but there is a sizable export market for ocean shrimp. Overfishing of shrimp has led to [[Atlantic seabob]] becoming the most commercially important catch.  Commercial fishing is mostly marine, as inland fishing is mostly attributed to subsistence fishing done by Amerindians.<ref>{{Cite web|title=FAO Fisheries & Aquaculture - Country Profile|url=http://www.fao.org/fishery/facp/GUY/en|access-date=2020-12-04|website=www.fao.org}}</ref>