Guyana’s Bauxite export moving towards its golden years as 2017-20 shows a positive trend
Guyana, a country with a population of 780,000, neighbouring Brazil and Venezuela in the region’s northeast corner, is expecting to bloom its economy to 86% in 2020 after expanding 4.4% in 2019, as per International Monetary Fund.
Bauxite was the country's leading industry in 2002, and gold and bauxite/alumina were the country's second-and third-ranking export commodities; bauxite and gold accounted for one-fifth of the country's GDP. Guyana was the fifth-largest bauxite producer in Latin America.
The total bauxite export of Guyana stood at 5.56 million tonnes. In 2017 the bauxite export was recorded at 1.64 million tonnes.
The Bauxite export of Guyana in 2018 was reflected at 1.95 million tonnes, a rise of 18.90%.
In 2019 the bauxite import rose by 1.02%, as the total export was recorded at 1.97 million tonnes and the total foreign revenue earned stood at $ 203 million.
The projected bauxite import for 2020 to get a rise by 11.16%, as the total import was recorded at 2.19 million tonnes and the revenue to be earned would be $232 million. The revenue generation has been also projected with a rise of 14.28% from its preceding year.
The bauxite import of Guyana has been done to several countries like the USA, Australia, France, Austria, Canada, Ecuador, China, Germany, India, Italy, Ireland, Mexico, Netherlands, etc.
source: ALCIRCLE.COM
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