Guyana economy grows 33.3% in first half of 2026
Key Points(5)
- Guyana’s economy grew by an estimated 33.3% in the first half of 2026, driven largely by continued expansion in oil and gas, mining and construction, President Irfaan Ali announced Monday.
- The country’s non-oil economy also expanded by an estimated 10.1% during the period, marking a sixth consecutive year of growth following the contraction recorded in 2020.
- “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,” Ali said during a news conference at the Office of the President.
- The stronger-than-expected first-half performance has prompted the government to revise its full-year real gross domestic product growth forecast to 20.8%.
Guyana’s economy grew by an estimated 33.3% in the first half of 2026, driven largely by continued expansion in oil and gas, mining and construction, President Irfaan Ali announced Monday.
The country’s non-oil economy also expanded by an estimated 10.1% during the period, marking a sixth consecutive year of growth following the contraction recorded in 2020.
“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,” Ali said during a news conference at the Office of the President.
The stronger-than-expected first-half performance has prompted the government to revise its full-year real gross domestic product growth forecast to 20.8%. The non-oil economy is projected to grow by 10.2% for the year.
Mining and quarrying recorded one of the strongest performances during the first six months of 2026, expanding by an estimated 40.7%.
Within the sector, oil and gas grew by 41.3%, while other mining activities, including sand, stone, manganese and diamonds, expanded by 40%. Gold mining grew by an estimated 11.3%.
Construction, another major driver of Guyana’s economic expansion, grew by 24.7%. The services sector expanded by 7.2%, while manufacturing recorded growth of 3%.
Ali said the expansion of industries across the country was creating jobs, generating income and improving economic opportunities for Guyanese.
“Industries lead to jobs. Jobs lead to more income. More income leads to better economic prospects. And that’s how the economic cycle works,” he said.
Agriculture, forestry and fishing collectively contracted by 0.5%, however, amid challenging weather conditions and higher transportation and input costs.
Several subsectors still recorded growth, with sugar production expanding by 19.3%, forestry by 15.4%, rice by 4.4% and fishing by 4.1%.
The country also recorded continued growth in lending during the first half of the year.
Net domestic credit stood at $1.286 trillion at the end of June, an increase of 15.5% compared with December 2025. Private-sector credit increased by 11.5%, while real estate mortgages jumped 21.2%.
Ali said the figures demonstrate that Guyana’s economy is showing strength beyond its rapidly expanding petroleum industry.
“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?” he said.
Guyana has experienced extraordinary economic growth in recent years following the start of offshore oil production in 2019, transforming the country into one of the fastest-growing economies in the world.
The government has increasingly emphasized expansion of the non-oil economy as it seeks to use the country's petroleum wealth to develop infrastructure and other industries.
Ali said his administration remains focused on ensuring the rapid economic expansion translates into improvements 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,” he said.
