An encyclopaedia of Countries from poorest
Saturday, February 16, 2013
Industry in Guyana
Industries: bauxite, sugar, rice milling, timber, textiles, gold mining
Definition: This entry provides a rank ordering of industries starting with the largest by value of annual output.
The Mineral Industry in Guyana
In 2010 domestic mine production of gold increased to 308,438 ounces, 1 percent higher than the
previous year‟s record output. Total exports of gold mainly to the United States and Canada
decreased from 311,844 ounces in 2009 to 302,653.68 ounces in 2010, a 3 percent decrease. The
average annual price for gold was US$1,144.61, an increase of 26.7 per cent from 2009.
The diamond industry experienced a decrease in declarations compared to 2009. Diamond output
declined 65.3 percent to 49,920 metric carats in 2010. The situation in the diamond sub-sector
was not so much a fall in demand and prices in the world market but more a steady reallocation
of resources from diamond production to gold production due to the attractive gold price.
Average value per carat for Guyana‟s rough diamonds in 2010 was US$156.09, an increase of
4.7 percent. For the last quarter of 2010 the average export price per carat was US$188.46.
Overseas trade in diamonds in 2010 decreased significantly by 51.2 percent, from 94,831 metric
carats in 2009 to 46,253.21 metric carats in 2010. The value of diamonds exported was US$7
million, down from US$14.1 million in 2009.
Belgium took 59.2 percent of all rough diamond exports from Guyana during 2010, and exports
to other countries totaled only 16,168.79 metric carats. Total exports to Belgium in 2010
decreased by 49 percent to 30,084.42 metric carats from 58,991.26 metric carats in 2009. The
other significant destination for diamonds was the United Arab Emirates who took 21 percent of
exports in 2010, down from 31 percent in 2009.
Bauxite production in 2010 was 1,099,880 metric tonnes, declining by 348,431 metric tonnes or
24 percent. BCGI experienced a fall in output of 29 percent or 347,759 metric tonnes due to
challenging mining conditions throughout the year. BCGI produced 851,391 metric tonnes of
bauxite which consisted of 162,230 metric tonnes of Chemical grade bauxite and 689,161 metric
tonnes of Metallurgical grade bauxite.