Guyana's Big Growth: More Than Just Oil
A Roll of Growth
Guyana's economy is on a roll, growing by 19.3% in 2025. This marks the sixth year in a row with double-digit growth. However, there's a twist: the oil sector, once the star of the show, is slowing down.
- 2025 Oil Growth: 21%
- 2024 Oil Growth: 57.7%
The Rest of the Economy Picks Up the Slack
While oil growth has decelerated, other sectors are thriving:
- Agriculture
- Mining
- Construction
- Services
These sectors collectively grew by 14.3%, ensuring the economy remains robust.
The Oil Story
Production and Exports
- 2025 Production: 261.1 million barrels
- 2024 Production: 225.4 million barrels
A significant boost came from ExxonMobil's new project, which started in August 2025. All of Guyana's oil is controlled by Exxon and its partners.
- Exports: 260 cargoes of crude oil
- Government's Share: 32 cargoes
- Each Cargo: Approximately one million barrels
Future Prospects
Oil will continue to be a major player in Guyana's economy in 2026. A new offshore project is set to begin this year. Exxon raised Guyana's oil production to more than 900,000 barrels per day in 2025. The new project aims to increase production to up to 1.15 million barrels per day.
Infrastructure and Beyond
The government plans to invest heavily in infrastructure:
- Housing: 40,000 homes over five years
- Road Networks: Expansion and improvement
Guyana's Rise in Latin America
Guyana is the newest oil producer in Latin America. In just a few years, it has become the fifth-largest crude exporter in the region. That's a big deal!
