Guyana leads Caribbean export boom

Jan 23, 2026 News

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…as oil fuels 18.3% trade surge in 2025

(Kaieteur News) – Guyana emerged as one of the region’s standout performers in 2025, recording an estimated 18.3 percent increase in exports, according to the Inter-American Development Bank’s (IDB) latest report, Trade Trends Estimates for Latin America and the Caribbean. The strong showing comes on the heels of the country’s extraordinary 137.6 percent export surge in 2024, driven largely by the continued expansion of oil production.

The report noted that the United States and the European Union were the primary markets fueling Guyana’s export growth, offsetting declines in shipments to other Latin American and Caribbean countries and parts of Asia outside China. The performance further underscores Guyana’s rising importance as a key energy exporter within the Caribbean and wider Western Hemisphere.

Regionally, the value of goods exported from Latin America and the Caribbean grew an estimated 6.4% in 2025, an improvement over the 4.7% increase recorded in 2024. The report states that the expansion in Latin America and Caribbean was driven by higher export volumes, while prices improved only marginally, the report found. Regional exports were boosted mainly by higher sales of metals — especially gold, copper, and silver — and solid performance in the agro-industrial sector, with gains in products such as coffee, cocoa, fruit, and meat. Several manufacturing sectors also stood out, including data-processing machinery, medical supplies, vehicles, and plastics.

“Despite the challenging global environment, Latin America and the Caribbean’s recent export performance has shown remarkable resilience,” said Paolo Giordano, Principal Economist in the IDB’s Productivity, Trade, and Innovation Sector, who coordinated the report.

The analysis identified signs that the region may be entering a phase of sustained trade growth, although the balance of risks remains moderately tilted to the downside, and the outlook continues to be shaped by a highly uncertain environment.  The report notes that countries in the region need to promote reforms and attract investments to improve productivity and make their economies more competitive in international markets. In particular, they need to reduce trade costs and support exports and investments to ensure that international trade remains a major driver of economic growth.

Increases were observed across all subregions, though dynamics varied. In South America and Mesoamerica, the expansion of exports accelerated, driven by faster growth in volumes. In Central America, shipments posted strong growth, but momentum weakened in the second half of the year. In the Caribbean, aggregate results masked pronounced volatility and significant disparities across countries. Total imports in Latin America and the Caribbean also gained momentum. External purchases increased by 6.1% in 2025, up from 3.2% in 2024, in line with the rebound in domestic demand and the evolution of world trade, the report estimated.

Export Prices

Prices for the region’s main export commodities followed different paths in 2025. In the agriculture sector, coffee prices rose 49.9% compared to the same period in 2024 (January-November), while soybean prices fell 6.7% year-on-year and sugar prices declined by 17.4%. Gold prices rose by 42.2% year-on-year in the same period, and copper prices averaged a 12.9% increase. Iron ore prices dropped by 7.8%, while oil prices dropped by 14.3% year-on-year between January and November.

Performance by Subregion

South America’s exports are estimated to have grown by 5.1% in 2025, up from 4.4% in 2024. The subregion’s performance improved more noticeably in the second half of the year, driven by higher volumes. The destinations that contributed most to the increase in exports were Asia, the European Union, and the subregion itself. Exports from Mesoamerica accelerated sharply, growing at an estimated 7.2% in 2025, nearly double the 3.8% growth recorded in 2024. Within the subregion, Central America’s exports posted strong average growth (11.5%) after remaining flat in 2024, although momentum weakened in the second half of the year. Mexico’s exports expanded by an estimated 6.6%, up from 4.2% in 2024, driven mostly by higher volumes. Exports continued to expand in the Caribbean, but at a more moderate pace: the 41.2% expansion of 2024 gave way to a 14.6% rise in 2025. This growth was highly volatile and concentrated in a few countries.

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• Caribbean, export, oil production, Trade Trends

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