Guyana
Real GDP growth
2003 2004 2005 2006 2007 2008 2009 2010
-0.7% 1.6% -1.9% 5.1% 7.0% 2.0% 3.3% 4.4%
2011 2012 2013 2014* 2015*
5.4% 4.8% 5.2% 3.3% 3.8%
Barbados
Real GDP growth
2003 2004 2005 2006 2007 2008 2009 2010
2% 4.8% 4.0% 5.7% 1.7% 0.3% -4.1% 0.2%
2011 2012 2013 2014* 2015*
0.8% 0.0% -0.3% -0.6% 0.5%
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Poli Guyana has had higher GDP growth than the USA. In fact over the past few years HAITI has had impressive growth.
Does that make Guyana's economy stronger than that of the USA?
This year growth will be less impressive as gold prices and gold production tumble!
You need some serious help.
Barbados has a GDP per capita almost FOUR TIMES that of Guyana! GET OVER IT!
Yes that little island, a mere coral reef, STOMPS Guyana! 10,000 Guyanese are legally or illegally present on that island.
How many Bajans live in Guyana, who aren't married to Guyanese, working for CARICOM, or over 80 y/o?
Indications that Barbados is BETTER off than is Guyana. Stop eating Jagdeo economics!
Now that you have already tried to derail the discussion lets get back to the data and some of the things I see:
BIM- higher GDP per capita
- much higher standard of living vs Gy
GDP per sector - BIM 83% services
Gy ecomomy much more diversified and in a better situation to withstand another global recession
Real GDP growth
out perform by Gy (including 2015's projection) for 9 consecutive years!
Therefore, Gy's economy is on the rise whilst Bim is in trouble
Public debt as a percentage of GPD
Bim 103.9% of GDP
Gy 58.9% of GDP
I would say that Bim's economy is in much more trouble than Gy's.
Now that you have already tried to derail the discussion lets get back to the data and some of the things I see:
BIM- higher GDP per capita
- much higher standard of living vs Gy
GDP per sector - BIM 83% services
Gy ecomomy much more diversified and in a better situation to withstand another global recession
Real GDP growth
out perform by Gy (including 2015's projection) for 9 consecutive years!
Therefore, Gy's economy is on the rise whilst Bim is in trouble
Public debt as a percentage of GPD
Bim 103.9% of GDP
Gy 58.9% of GDP
I would say that Bim's economy is in much more trouble than Gy's.
The effects of the PNC poison ivy claws not yet fully taken hold. Stay tuned!
Now that you have already tried to derail the discussion lets get back to the data and some of the things I see:
BIM- higher GDP per capita
- much higher standard of living vs Gy
GDP per sector - BIM 83% services
Gy ecomomy much more diversified and in a better situation to withstand another global recession
Real GDP growth
out perform by Gy (including 2015's projection) for 9 consecutive years!
Therefore, Gy's economy is on the rise whilst Bim is in trouble
Public debt as a percentage of GPD
Bim 103.9% of GDP
Gy 58.9% of GDP
I would say that Bim's economy is in much more trouble than Gy's.
So let us look at GDP PPP per capita, which adjusts for different costs of living (that is what you meant, not "standard of living"
). Bdos US$ 16,200. GUY $6,900. So even with its higher costs of living Bdos still has a HIGHER GDP per capita.
Guyana's economy consists of the export of a few RAW commodities, subject to market forces beyond Guyana's control. Guyana cannot find new markets for rice, as its production costs are too high. Sugar, gold, and bauxite in trouble!
Barbados, also has a narrow economy, with strong dependence on tourism. However, the market promotion, product development, and pricing Barbados does have some ability to control its tourism. In fact Barbados tourism arrivals were up 14% this year Jan-Jun, with spending up 5%.
Barbados has more access to the capital markets than does Guyana, therefore a better able to renegotiate its credit, without losing access to these markets. Barbados has an S&P rating. Does Guyana?
BTW you do know that Guyana's GDP growth is .9% for Jan-Jun, and not likely to get any better.
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