Guyana's economy grew by 33.3% in first half of 2026

Guyana's President Dr. Irfaan Ali announced on Monday that the country's economy grew by an estimated 33.3% in the first half of 2026.

The President made the announcement at a press conference held at his Georgetown office, after which the mid-year report was released by the Ministry of Finance.

Key highlights from that report include:

1. Overall GDP growth of 33.3%

Guyana's Gross Domestic Product (GDP) grew by an estimated 33.3% in the first half of 2026. GDP reflects the value of all goods and services produced by an economy.

The mid-year report noted that the economic expansion comes as the country recorded the first full six-month period in which four Floating Production, Storage, and Offloading (FPSO) vessels operated simultaneously in the Stabroek Block, following first oil from the One Guyana FPSO in August 2025.

2. Non-oil growth of 10.1%

Non-oil growth has been pegged at 10.1%, driven principally by construction, services and mining.

3. Full-year projections

For the full year 2026, real GDP growth is projected at 20.8%, while non-oil growth is projected at 10.2%. Continued growth is expected as crude oil production expands further, driven by the continued ramp-up of the One Guyana FPSO and the anticipated start-up of the fifth FPSO — Errea Wittu — in the final quarter of the year.

In the non-oil economy, however, anticipated El Niño conditions pose downside risks to agricultural output, particularly non-traditional crops, while mining is positioned to improve as pit operations recover following severe rainy weather that disrupted extraction in the first half of the year.

Sectoral highlights:

1. The agriculture, forestry and fishing sector contracted by 0.5%, despite a 19.3% growth in the sugar subsector, a 17.5% increase in the livestock subsector, and a 4.4% increase in the rice subsector.
2. The mining and quarrying sector expanded by 40.7%. Within that, the oil and gas sector expanded by 41.3%, the bauxite sector grew by 7.3%, and the gold mining sector expanded by 11.3%.
3. The manufacturing sector expanded by an estimated 3%.
4. The services sector grew by an estimated 7.2%.
5. The construction sector grew by an estimated 24.7%.

Inflation

While Guyana's economic outlook remains positive, the mid-year report also addresses inflation. Consumer prices increased by 4.4% at the end of June 2026 compared with the end of 2025, largely driven by food prices rising 6.7%.

"Amongst the main factors driving food and energy prices are global imported inflation, increased demand for food supplies, retail markups, and unfavourable weather conditions.

"Across our ten administrative regions, Government has sought to ensure that increased investments in agricultural production contribute to expanded food production. Additionally, Government has ensured cash support to farmers, parents of school-age children, and every Guyanese over 18 years old to cushion the effect of increased costs, and to increase disposable income. These, along with policy actions to maintain stable electricity and water tariffs, combined with proactive steps to limit the passthrough effect of global fuel price increases, have collectively helped to contain price pressures," the report noted.

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