According to the latest statistical bulletin of Central Bank, Guyana’s economy registered mixed output performance in a few of its major sectors during the first quarter of 2020 since the country did not start experiencing the effects of COVID-19 until the first confirmed case on March 11, 2020.
Using preliminary statistics, the supervisor of Guyana’s economic health noted the agriculture sector experienced increased production of rice and other crops due to favourable weather conditions while the output of forestry and sugar most likely declined in the first quarter of 2020.
In the mining and quarrying sector, it was noted that the output of gold is estimated to have expanded for the first quarter, reflecting the resumption of operations by Troy Resources Guyana Ltd. (in late January 2020) as well as higher output by Guyana Goldfields Inc. However, bauxite and diamond production declined during the review period.
As for the services and construction sectors, the bank said that these are projected to have registered mixed output performance with the former being bolstered by the emerging oil and gas sector activities while the latter was supported by public investment.
The Guyana Standard understands that the manufacturing sector most likely recorded an expansion in output stemming from increased production of paints, rum, non-alcoholic beverages, liquid pharmaceuticals and stockfeed