Guyana’s economy is estimated to have grown by 7.5% during the first half of 2025, the Ministry of Finance has announced in its Mid-Year Report.

The growth in the country’s economy is linked to the booming Oil and Gas Sector, complemented by strong performances across the non-oil economy, which is estimated to have grown by 13.8%.

According to the Finance Ministry, the prospects for the remainder of 2025 remain strong.

“As we move into the second half of the year, prospects for 2025 remain strongly positive, with a focus on sustaining growth in the non-oil economy while the oil and gas sector continues to ramp up,” the report stated.

It said overall the country’s real Gross Domestic Product (GDP) is now projected to grow by 15.2% compared to 10.6% last year, while the non-oil economy is expected to grow by 13.9%, making 2025 the fifth successive year of expansion in both the overall and non-oil economy.

The agriculture, fishing, and forestry sector, according to the Ministry of Finance, is estimated to have grown by 9% in the first half of the year. The growth in the sector, according to the Finance Ministry, is driven by growth in other subsectors such as rice, livestock, forestry and sugar growing.

The Sugar Industry, the Finance Ministry said, is estimated to have expanded by 136.7% when compared with the first half of last year.

“The Guyana Sugar Corporation (GuySuCo) produced 15,954 tonnes of sugar in the first crop of this year, compared with 6,739 tonnes during the same period in 2024. Importantly, a further expansion in output in the first half of the year was hampered by poor weather – specifically heavy rainfall that affected harvesting and factory operations – labour shortages and cane quality,” the Finance Ministry reported.

Guyana is projected to produce 101,000 tonnes of sugar by the end of the year, and according to the Ministry of Finance, the projection remains noting the second crop is traditionally and substantially the larger of the two crops.

Meanwhile, the Rice Industry is estimated to have grown by 13.9 % in the first half of 2025.

“The Guyana Rice Development Board (GRDB) reported production of 410,194 tonnes of rice equivalent in the first six months of this year, compared with 362,030 tonnes in the first half of 2024,” the report stated.

Growth in the manufacturing sector for the first half of 2025 has been pegged at 26.8%.

Driven by growth across all subcategories – other manufacturing, rice and sugar. The sector is now projected to grow by 14.9 percent this year.

Additionally, the services sector is estimated to have expanded by 6.6 percent in the first half of the year, primarily supported by growth in wholesale and retail trade and repairs.

The Ministry of Finance, in a separate statement said the 2025 Mid-Year Report confirms that this Government, led by President Ali, is committed to sustaining high growth, while maintaining fiscal discipline and safeguarding Guyana’s long-term stability, with aggressive efforts to implement its ambitious policies and programmes.

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