China/ Guyana trade in goods skyrockets to US$1.8B

Trade between Guyana and China has been steadily increasing over the past few years and at the end of 2022, bilateral trade in goods skyrocketed to US$1.88 billion (or GY $397.5 billion).

This is according to Chinese Ambassador Guo Haiyan who spoke at the sod-turning ceremony for the new Bath, Region Five (Mahaica- Berbice) hospital, on Tuesday.

She provided statistics from Chinese Customs and according to those figures, the trade increased from US$265 million in 2018 to US$1.88 billion in 2022. This is a six-fold increase in trade, the Ambassador said.

“Guyana has become China’s largest trading partner among (Caribbean Community) countries.

“Investment by Chinese also increased, making contributions to turning Guyana’s economic potential into economic development,” Ambassador Guo said.

Chinese companies are involved in several large infrastructural projects in Guyana and in the coming years, China’s Sinopharm and CAMCE will be building six new regional hospitals.

And health cooperation, the Ambassador said, is one of the areas China is keen on strengthening ties with Guyana in.

“The Chinese Embassy will continue to encourage Chinese enterprises, institutions and individuals to deepen health cooperation with Guyana to support the development of Guyana’s healthcare services,” she said.