Guyana remains one of the world’s fastest-growing economies, according to the latest Caribbean Economics Quarterly from the Inter-American Development Bank (IDB).

The Guyana economy grew by 19.3 per cent in 2025. This followed a much stronger growth rate of 43.8 per cent in 2024. Oil production continues to drive much of the country’s economic growth.

However, other areas of the Guyana economy are also expanding. Growth outside the oil sector reached 15 per cent in 2025. That was an increase from 13 per cent in 2024. The figures suggest that more industries are benefiting from the country’s oil wealth.

Guyana has also improved its debt position. The government has borrowed to fund roads, schools and other infrastructure. However, debt payments now take up a smaller share of government revenue.

Before oil production began, the government used about seven cents of every dollar it collected to pay debt. Today, that figure has fallen to about five cents.

The IDB described Guyana as a low-debt case. Strong resource revenues continue to support the country’s finances. The report also noted that The Bahamas, Suriname and Trinidad and Tobago entered 2025 with higher debt burdens than they had in 2019.

The Guyana labour market has also seen major improvements. Unemployment fell from 14.5 per cent in the third quarter of 2021 to 6.8 per cent during the same period in 2024.

That means fewer than one in 14 working-age Guyanese were unemployed in 2024. In 2021, about one in seven were unemployed.

Guyana’s population has also grown over the past decade. It increased from around 700,000 people to about 900,000 today.

The International Monetary Fund expects Guyana to maintain strong economic growth over the next few years. The economy could grow by 16.2 per cent in 2026, followed by 19.7 per cent in 2027 and 22.1 per cent in 2028.

Growth should slow after that as oil production stabilises. The IMF projects growth of 12.8 per cent in 2029, 11.5 per cent in 2030 and 1.1 per cent in 2031.

Guyana’s rapid expansion continues to reshape its economy, while falling unemployment and stronger growth outside the oil sector point to wider economic gains.