Guyana’s export sector has reached a significant milestone, with exports to Trinidad and Tobago surpassing US$1.9 billion last year, according to the President of the Trinidad and Tobago Manufacturers’ Association (TTMA), Dale Parson. The announcement was made during the launch of a trilateral trade mission involving the TTMA and the Suriname Guyana Chamber of Commerce, underscoring the growing economic ties between the two CARICOM nations.
The robust trade relationship has been described as a longstanding partnership, with Guyana’s exports to Trinidad and Tobago experiencing remarkable growth over the past five years. In 2018, Guyana’s exports to its Caribbean neighbor stood at just $34.2 million, but by 2023, that figure had soared to $1.9 billion—a 123% annualized increase. The main exports from Guyana include railway cargo containers, excavation machinery, and coal tar oil, highlighting the country’s expanding industrial and manufacturing capabilities.
In contrast, Trinidad and Tobago exported $625 million in goods to Guyana last year, with refined petroleum, excavation machinery, and rubber products leading the list. While Trinidad and Tobago remains a key supplier to Guyana, the trade balance has shifted significantly in Guyana’s favor, reflecting the country’s rapid economic transformation driven by its burgeoning oil and gas sector.
TTMA President Parson expressed optimism about the future of trade between the two countries, noting that the growing opportunities in Guyana present a “huge gap that needs to be filled†by Trinidadian manufacturers and exporters. The trade mission aims to further strengthen collaboration, identify new areas for investment, and address any existing trade barriers.
The surge in bilateral trade comes as CARICOM leaders continue to push for deeper regional integration and diversification of export markets. Guyana and Trinidad and Tobago have also signed a Memorandum of Understanding to resolve trade restrictions and promote cooperation in sectors such as agriculture, energy, and infrastructure.
With both nations committed to enhancing their economic partnership, the record-setting export figures signal a new era of opportunity for businesses and investors across the Caribbean.
