Latest update June 3rd, 2026 12:40 AM
4th FPSO pushed Guyana’s import bill to almost US$6B by mid-2025
…less than US$920M earned from non-oil exports
(Kaieteur News) – Guyana’s total import bill for the first six months of 2025 was almost US$6 billion, largely due to the new Floating Production Storage and Offloading vessel (FPSO) that has arrived to develop the resources in the fourth oil project, Yellowtail.
The One Guyana FPSO arrived in April, 2025
This is according to the mid-year report, recently published by the Ministry of Finance. The document explained, “Import payments stood at US$5,894.6 million at the end of the first half of the year, growing by 81.1 percent, when compared with the corresponding 2024 position.”
The report states that the increased import bill was mainly a result of an expansion in the importation of capital goods, which rose by 185.5 percent to US$3,881.7 million and accounted for 95.8 percent of the overall increase.
“Notably, a significant portion of this increase can be attributed to the importation of the One Guyana FPSO, which valued US$2,534.1 million,” the document revealed.
Additionally, Guyana also recorded a 24.5% increase in the importation of goods for consumption during the period, which totalled US$616.6 million. “Within this, the imports of other durables, motor cars, food for final consumption, and other non-durable goods, increased by US$34.1 million, US$28.5 million, US$21.6 million, and US$20.6 million, respectively. In contrast, the importation of intermediate goods declined by 0.7 percent to US$1,385.3 million, mainly on account of fuel and lubricants falling by US$51.7 million,” the report states.
Exports
Meanwhile, Guyana’s non-oil exports reached some US$919.7 million during the first six months of the year, an increase of 12.5%. The report explained that the higher export earnings was mainly supported by gold and bauxite expanding by US$147.5 million and US$31.1 million, respectively. During the period, Guyana benefitted from soaring gold prices and higher volumes for bauxite.
“Gold reached an all-time high of US$3,500 per ounce in April 2025 and rose further in the second half, benefiting from global geopolitical uncertainty and strong demand for safe-haven assets, which supports export earnings,” the report said.
On the other hand, rice prices declined by 30.5%, averaging US$434.2 per metric tonne, amid production challenges like the paddy bug infestation, prompting government interventions including fertilizer subsidies and emergency relief to protect farmers.
According to the document, sugar prices averaged US$0.4 per kilogramme during the first half of 2025, a decline of 13.1% when compared with the average in the first half of 2024.
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