Economy grew 19.3 per cent; non-oil economy expanded 14.3 per cent

Budget 2026 sets the foundation for continued strong economic growth and progress in the country’s transformation, despite a challenging and an uncertain global environment.
Finance Minister Ashni Singh said during the budget presentation, themed “Putting People First,” that Guyana’s economy recorded strong and sustained growth in 2025, with overall economic expansion estimated at 19.3 per cent.
He said the country’s performance was achieved amid global uncertainty, crediting the government’s policy framework for maintaining economic resilience. The non-oil economy expanded by an estimated 14.3 per cent in 2025, supported by sustained growth across agriculture, mining, construction and services.

“Our overall real economic growth continues to be supported by a strong expansion in oil and gas activity, as well as sustained growth across the non-oil sectors of the economy. Growth in the non-oil economy in 2025 was driven largely by agriculture, mining, construction, and services. Agriculture, forestry, and fishing,” Singh said.
He said the agriculture, forestry and fishing sector grew by an estimated 11.5 per cent, with expansion recorded across all subsectors.

Sugar production increased by 26.5 per cent to 59,600 tonnes, despite challenges including heavy rainfall, labour shortages and factory constraints.
The rice sector recorded a 15.7 per cent expansion, with production reaching a record 810,299 tonnes, supported by fertiliser assistance, paddy subsidies and improved seed varieties.
“It is well known that production in this sector was hampered by heavy rainfall that affected harvesting and field operations, and that this was compounded by labour shortages, low employee turnout, and challenges with factory machinery at some estates. Despite softer global rice prices, milling bottlenecks, and cash flow challenges, the rice subsector delivered another record-breaking year in 2025,” Singh said.

Other crops grew by 11.1 per cent, with increases recorded in root crops, vegetables, spices, fruits and cereals. Soybean and corn production rose by 72.1 per cent and 10.3 per cent respectively.
Livestock production expanded by 12.5 per cent, driven by growth in poultry, beef, pork and egg production.
The fishing sector grew by 6.5 per cent, supported by higher marine fish and aquaculture output, although marine shrimp production declined by 42 per cent. Forestry expanded by 2.7 per cent, with timber production reaching 495,226 cubic metres in 2025.
Singh said the figures reflect the strength and breadth of Guyana’s economic expansion and underscore the government’s focus on people-centred development.