Guyana and Suriname were the main contributors to export growth in the Caribbean during the first half of 2026, reflecting the increasing influence of energy and mineral commodities on the region's trade performance, according to a new report by the Inter-American Development Bank (IDB).
The IDB's 2026 Trade and Integration Monitor, released on November 3, found that exports across Latin America and the Caribbean increased by 19.5% year-on-year during the first six months of 2026, compared with global trade growth of 14.5%.
Within the Caribbean, exports increased by 19.1%, with the performance concentrated in Guyana and Suriname.
The bank attributed much of the Caribbean's growth to higher prices for mining and energy products, particularly crude oil.
The findings highlight Guyana's growing influence on regional trade as offshore petroleum production continues to expand and crude oil accounts for a significant portion of the country's export earnings.
Guyana's own 2026 Mid-Year Report recorded total export earnings of approximately US$16.2 billion during the first half of the year, representing a 76.4% increase compared with the corresponding period in 2025.
Crude oil accounted for approximately US$15.05 billion of that amount, illustrating the extent to which petroleum exports are driving the country's external trade performance.
While the figures point to strong export growth, they also raise questions about the extent to which Guyana's expanding trade earnings are being driven by oil production and commodity prices, compared with growth in other productive sectors.
Mining, agriculture, manufacturing and other non-oil industries remain important to the country's efforts to broaden its economic base and develop additional sources of foreign exchange.
The IDB report also highlights the importance of stronger regulatory frameworks and investment in public infrastructure to attract foreign direct investment across Latin America and the Caribbean.
Sources: Inter-American Development Bank, Trade and Integration Monitor 2026, November 3, 2026; Guyana's 2026 Mid-Year Report.
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