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Guyana’s diversification perspectives to overcome vulnerability

FAO Agricultural Development Economics Policy Brief 20

Year of publication 2020

Place of publication Rome, Italy ;

Pages 2p.

Author FAO

Publisher FAO ;

Product type Book (series)

Series title FAO Agricultural Development Economics Policy Brief

Series number 20

Edition 1

Synopsis (short abstract) This policy brief analyses institutional challenges faced by Guyana’s agricultural sector to promote diversification and development. Agricultural development in Guyana is strongly correlated with agricultural diversification, hence diversification strategies can be used to promote growth in this sector. The identified challenges in the analysis that currently hamper diversification and trade of Guyana’s agricultural products include high tariff and non-tariff barriers, low level of direct investment, and a lack of physical infrastructure. Furthermore, missing quality and quantity capacities of farmers as well as the lack of a working sanitary and phytosanitary regime hinders intra-regional trade and import substitution. It is recommended to further analyse these areas and invest accordingly.

Language English

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    Diversification perspectives of Guyana’s agrifood sector 2022
    Also available in:
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    Guyana’s agrifood systems are facing an increasing level of risk: rising sea-levels are eroding its coastal area, where much of the agricultural activity is located; recent off-shore oil discoveries threaten to crowd-out non-oil sectors; and a dependency on a limited number of agricultural export commodities exposes the agricultural sector to price and market volatility. The diversification of agricultural production and exports has the potential to generate growth and increase the resilience of the agricultural sector. This study identifies Guyana’s diversification potential using comparative-advantage and export-sophistication metrics, which are combined for a proximity analysis based on Guyana’s production space. The objective is to identify a set of commodities with high export potential, which is in relative proximity to the current agrifood export basket. We find oil seeds, bovine meat, sunflower seed oil, fish flours (for animal feed), palm oil, fowl, cocoa beans, cocoa paste and sunflower seeds to be commodities with high export potential. These commodities share characteristics with the current agrifood export basket. This implies that expanding the exports of these goods will not be costly and is likely to promote economic development, agricultural sector growth and reduce risks associated with market concentration.
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