– non-oil sector surges by 13.8% as Mid-Year Report highlights sustained growth and transformation

GUYANA’S economy continued its robust trajectory in the first half of 2025, recording overall real GDP growth of 7.5 percent and a non-oil growth rate of 13.8 percent, according to the recently released 2025 Mid-Year Report.
The report underscores the country’s continued transformation, underpinned by strong performances in both the oil-and-gas and non-oil sectors — particularly agriculture, manufacturing, and construction. This marks the fifth consecutive year of non-oil expansion at the half-year point, following the global downturn in 2020.
Reflecting on the positive performance, Senior Minister in the Office of the President with Responsibility for Finance, Dr Ashni Singh, said the updated projections reaffirm the government’s commitment to sustaining high growth, maintaining fiscal discipline and ensuring that Guyana’s economic expansion translates into real benefits for its people.
“Budget 2025 provides a clear path to ensure that the strong economic growth achieved by the domestic economy in recent years is sustained and made more resilient,” Dr Singh stated. “This unprecedented expansion continues to be harnessed to deliver tangible and lasting benefits for all Guyanese — today and for generations to come.”
Based on mid-year developments, Guyana’s full-year real GDP growth forecast for 2025 has been revised upward to 15.2 percent, from the earlier estimate of 10.6 percent.
The non-oil GDP forecast was similarly adjusted to 13.9 percent, underscoring strong domestic economic activity outside the petroleum sector.
The non-oil expansion has been driven by accelerated investment, expanded public and private sector activity and the government’s aggressive implementation of policies in key areas such as infrastructure, education, and healthcare.
At the end of June 2025, Guyana’s balance of payments registered a US$10.3 million surplus, with a current-account surplus of US$197.9 million.
The merchandise trade balance showed a US$3.18 billion surplus, reflecting strong export performance. While crude-oil exports rose modestly by 2.6 percent amid lower prices, non-oil exports — particularly gold and bauxite — increased by 12.5 percent.
Imports climbed 81.1 percent, largely due to capital goods related to the arrival of the One Guyana FPSO, valued at US$2.53 billion.
The Mid-Year Report shows that net domestic credit rose by 17.7 percent, reaching $1.02 trillion, while private-sector credit grew by 7.7 percent to $485.4 billion.
Inflation remained moderate, rising 2.9 percent at mid-year compared to end-2024, with the 12-month inflation rate standing at 4.2 percent. Declines in fuel prices — including reductions of 20.9 percent for gasoline, 32.8 percent for diesel, and 34 percent for kerosene — helped cushion consumers and businesses.
GOVERNMENT MEASURES TO SUPPORT CITIZENS
The Ali-led administration has maintained its focus on inclusive growth and people-centred development, introducing measures to improve living standards and protect vulnerable populations.
Among the key initiatives: No new taxes from Budget 2020 to 2025; Doubling of the income-tax threshold to $130,000 monthly; $100,000 cash grant to every adult citizen; Doubling of old age pension from $20,500 in 2020 to $41,000 in 2025; Public Assistance grants increased from $9,000 to $22,000 monthly; zero percent excise tax on petroleum products and freight-charge reductions and the part-time job programme extended.
These measures, Dr Singh noted, have boosted disposable incomes, contained the cost of living, and strengthened economic resilience.
Dr Singh emphasised that Guyana’s economic strategy remains focused on prudent resource management and inclusive national development.
“Government remains committed to prudent management of our natural resources, while continuing to invest in people and communities so that the benefits of our national transformation are shared by all Guyanese,” he said.
“While challenges and risks remain, our government will continue to ensure that these are met with resolve, charting a steady course toward resilient prosperity.”
With the economy expanding across nearly every major sector, and strategic investments continuing in human capital, infrastructure, and diversification, the 2025 Mid-Year Report confirms Guyana’s position as one of the fastest-growing economies in the world — and one poised to translate growth into lasting national progress.