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Economy of Guyana vs Ukraine compared: GDP & Debt

Updated on by Georank team

Guyana has a GDP of $24.8B compared to $191B for Ukraine, ranking 119/197 and 57/197 by economy size, respectively.

Guyana has $6.03B in government debt (27.7% of GDP), compared to $171B (110% of GDP) in Ukraine.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Guyana
GDP, current $

GDP, constant 2015 $
Ukraine
GDP, current $

GDP, constant 2015 $
Year GDP
Guyana Ukraine
Current $ Constant $ Current $ Constant $
1960 $170,216,241 $1,555,849,244 - -
1961 $185,849,535 $1,628,811,172 - -
1962 $194,949,513 $1,646,808,327 - -
1963 $175,757,894 $1,444,602,377 - -
1964 $194,774,513 $1,608,713,286 - -
1965 $213,235,294 $1,778,288,056 - -
1966 $228,705,882 $1,871,350,740 - -
1967 $250,176,471 $1,952,073,734 - -
1968 $229,750,000 $1,972,079,124 - -
1969 $249,300,000 $2,110,013,963 - -
1970 $267,800,000 $2,199,804,697 - -
1971 $282,050,000 $2,268,281,337 - -
1972 $285,380,952 $2,193,027,226 - -
1973 $307,047,619 $2,220,324,260 - -
1974 $433,954,545 $2,391,352,284 - -
1975 $494,791,667 $2,594,211,213 - -
1976 $454,440,000 $2,634,081,990 - -
1977 $449,880,000 $2,564,577,004 - -
1978 $507,080,000 $2,518,255,902 - -
1979 $530,440,000 $2,472,028,373 - -
1980 $603,200,000 $2,514,890,619 - -
1981 $570,357,107 $2,552,517,555 - -
1982 $482,000,000 $2,215,837,057 - -
1983 $489,333,333 $2,065,328,835 - -
1984 $437,631,605 $1,961,468,862 - -
1985 $453,488,372 $2,008,537,592 - -
1986 $504,651,140 $1,990,448,658 - -
1987 $354,591,847 $2,008,350,685 $64,087,694,038 $161,845,930,096
1988 $413,799,990 $1,934,171,588 $74,703,517,903 $165,999,646,445
1989 $379,779,390 $1,839,074,818 $82,709,161,099 $172,428,984,083
1990 $396,582,263 $1,782,661,480 $81,393,558,423 $161,487,959,613
1991 $348,533,095 $1,890,652,727 $77,350,733,982 $147,438,507,127
1992 $373,573,141 $2,037,327,406 $73,945,908,384 $132,842,094,919
1993 $454,101,382 $2,203,881,071 $65,648,559,903 $113,978,517,441
1994 $540,874,934 $2,391,925,530 $52,549,580,265 $87,877,436,948
1995 $621,626,786 $2,512,273,985 $48,213,856,469 $77,156,389,640
1996 $705,406,001 $2,712,138,382 $44,558,831,005 $69,440,750,676
1997 $749,138,010 $2,879,766,586 $50,151,531,592 $67,357,528,157
1998 $717,530,683 $2,831,412,296 $41,882,523,345 $66,077,735,120
1999 $694,754,988 $2,915,226,398 $31,580,639,554 $65,945,579,650
2000 $712,667,897 $2,875,468,427 $32,375,083,935 $69,836,368,849
2001 $712,167,450 $2,941,015,353 $39,309,580,983 $75,981,969,311
2002 $726,131,435 $2,974,326,086 $43,956,163,612 $80,039,138,413
2003 $743,063,950 $2,955,521,641 $52,010,355,753 $87,656,150,954
2004 $787,814,379 $3,001,726,851 $67,220,154,164 $97,995,502,972
2005 $824,880,550 $2,943,164,433 $89,238,865,119 $101,005,170,643
2006 $2,379,817,991 $3,094,137,271 $111,884,752,475 $108,652,697,105
2007 $2,730,971,595 $3,316,643,991 $148,733,861,386 $117,579,433,691
2008 $3,025,187,433 $3,374,858,506 $188,110,390,660 $120,217,318,405
2009 $3,165,663,153 $3,496,741,807 $121,552,153,444 $102,020,662,582
2010 $3,432,912,517 $3,641,452,425 $141,209,170,427 $106,195,352,550
2011 $3,691,384,318 $3,830,671,453 $169,333,835,202 $111,977,987,704
2012 $4,063,088,536 $4,032,790,344 $182,591,753,828 $112,148,546,939
2013 $4,167,800,929 $4,180,123,674 $190,498,811,460 $112,199,506,223
2014 $4,127,660,152 $4,250,621,228 $133,503,871,862 $100,891,035,819
2015 $4,279,840,194 $4,279,840,194 $91,030,967,789 $91,030,967,789
2016 $4,482,697,337 $4,442,793,237 $93,355,869,404 $93,253,017,277
2017 $4,748,174,334 $4,608,708,975 $112,090,505,082 $95,453,762,636
2018 $4,787,636,998 $4,813,377,726 $130,891,088,294 $98,783,535,744
2019 $5,173,760,192 $5,071,030,136 $153,883,047,510 $101,944,118,787
2020 $5,471,256,595 $7,275,896,377 $156,617,722,013 $98,118,341,608
2021 $8,041,362,110 $8,735,441,013 $199,765,859,571 $101,499,127,458
2022 $14,718,388,489 $14,268,000,638 $161,989,520,721 $72,309,415,410
2023 $16,918,503,597 $19,089,873,040 $181,221,517,869 $76,311,548,882
2024 $24,835,899,826 $27,369,534,584 $190,741,263,732 $78,535,131,746

Economic indicators

Guyana Ukraine
Gross domestic product
$24.8B
2024
$191B
2024
GDP rank
119/197
2024
57/197
2024
GDP growth
46.8%
2023-2024
5.25%
2023-2024
GDP per capita
$29,884
2024
$5,038
2024
GDP per capita rank
42/197
2024
118/197
2024
GDP per capita, PPP
$79,906
2024
$18,550
2024
Government debt
$6.03B
2024
$171B
2024
Debt-to-GDP ratio
27.7%
2025
110%
2025
Government debt per person
$7,252
2024
$4,526
2024
Government debt per person rank
67/185
2024
85/185
2024
Average annual personal income after taxes
$13,265
2025
$5,178
2025
Market capitalization of domestic companies n/a
$4.42B
2018
Number of billionaires n/a
7
2025
Income share by richest 10%
34.4%
1998
21.7%
2020
Income share by poorest 10%
1.1%
1998
4.3%
2020
Government expenditure, % of GDP
24.3%
2025
58%
2025
Consumer prices inflation
3.6%
2024-2025
12.6%
2024-2025
Central bank interest rate n/a
15.5%
2025
Unemployment rate
13.2%
2019
9.83%
2021
Population
839919
39426577

GDP per capita in Guyana vs Ukraine

Guyana's GDP per capita is $29,884, ranking 42/197, compared to $5,038 in Ukraine, ranking 118/197. Adjusted for purchasing power (GDP per capita PPP), Guyana ranks 13th at $79,906, while Ukraine ranks 99th at $18,550.

Guyana
GDP per capita

GDP per capita, PPP
Ukraine
GDP per capita

GDP per capita, PPP
Year Current $
Guyana Ukraine
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $299.1 - - -
1961 $319 - - -
1962 $327 - - -
1963 $288.8 - - -
1964 $313 - - -
1965 $336 - - -
1966 $353 - - -
1967 $378 - - -
1968 $340 - - -
1969 $361 - - -
1970 $381 - - -
1971 $396 - - -
1972 $395 - - -
1973 $421 - - -
1974 $588 - - -
1975 $664 - - -
1976 $604 - - -
1977 $593 - - -
1978 $663 - - -
1979 $689 - - -
1980 $779 - - -
1981 $735 - - -
1982 $621 - - -
1983 $631 - - -
1984 $565 - - -
1985 $588 - - -
1986 $657 - - -
1987 $464 - $1,244 -
1988 $545 - $1,444 -
1989 $503 - $1,593 -
1990 $529 $3,022 $1,564 $7,591
1991 $466 $3,322 $1,483 $7,148
1992 $498 $3,651 $1,413 $6,568
1993 $603 $4,027 $1,254 $5,766
1994 $716 $4,447 $1,009 $4,565
1995 $820 $4,753 $933 $4,124
1996 $928 $5,210 $870 $3,812
1997 $983 $5,615 $987 $3,794
1998 $940 $5,573 $831 $3,794
1999 $909 $5,812 $632 $3,871
2000 $932 $5,860 $653 $4,228
2001 $932 $6,131 $800 $4,747
2002 $951 $6,304 $903 $5,123
2003 $974 $6,392 $1,076 $5,764
2004 $1,033 $6,673 $1,401 $6,663
2005 $1,084 $6,761 $1,875 $7,142
2006 $3,136 $7,346 $2,366 $7,971
2007 $3,608 $8,110 $3,160 $8,900
2008 $4,009 $8,437 $4,018 $9,324
2009 $4,209 $8,824 $2,607 $7,995
2010 $4,582 $9,337 $3,040 $8,453
2011 $4,947 $10,066 $3,657 $9,127
2012 $5,444 $10,627 $3,951 $9,552
2013 $5,557 $11,200 $4,130 $10,904
2014 $5,473 $11,145 $2,904 $10,494
2015 $5,640 $11,408 $1,988 $9,922
2016 $5,871 $11,516 $2,047 $10,865
2017 $6,179 $12,243 $2,467 $11,536
2018 $6,048 $12,443 $2,895 $12,555
2019 $6,406 $13,241 $3,423 $14,217
2020 $6,776 $16,819 $3,505 $15,541
2021 $9,861 $22,866 $4,510 $17,846
2022 $17,913 $39,711 $3,946 $14,770
2023 $20,474 $54,729 $4,803 $17,665
2024 $29,884 $79,906 $5,038 $18,550

Spending and national debt comparison

In 2024, Guyana's government spending was $5.77B, accounting for 24.3% of its GDP, while Ukraine's spent $136B, or 58% of GDP.

Debt-to-GDP ratio is 27.7% in Guyana and 110% in Ukraine, ranking 163/185 and 15/185, respectively.

Guyana
Government spending

Government debt
Ukraine
Government spending

Government debt
Year % of GDP
Guyana Ukraine
Government spending Government debt Government spending Government debt
1995 - - 41.3% 30.2%
1996 - - 36.9% 24.4%
1997 20.9% 101.3% 40.8% 28.9%
1998 19.7% 108% 37.1% 46.5%
1999 17.6% 97.1% 25.8% 59%
2000 22.9% 97.2% 35.5% 43.8%
2001 24% 104.6% 36.7% 36.7%
2002 23.1% 105.1% 37.9% 33.6%
2003 23.5% 95.6% 38.9% 29.4%
2004 23.7% 91.8% 41.6% 24.8%
2005 28.4% 90.7% 44.2% 17.7%
2006 29% 74.5% 44.6% 14.8%
2007 25.5% 47% 43.7% 12.3%
2008 24.1% 47.6% 47.1% 20.4%
2009 25.4% 51.7% 48.6% 35.4%
2010 23.9% 52.5% 49.2% 40.6%
2011 23.5% 51.2% 45.7% 36.9%
2012 21.8% 44.3% 49% 37.5%
2013 21.4% 41.1% 48.1% 40.5%
2014 23.1% 38.3% 44.8% 70.3%
2015 21.7% 41.8% 43% 79.3%
2016 25.2% 43.8% 40.8% 79.5%
2017 26.3% 42.9% 41.7% 71.6%
2018 27.6% 47% 41.9% 60.4%
2019 28.1% 43.6% 41.5% 50.5%
2020 30.5% 51.1% 45.6% 60.5%
2021 24.8% 41.2% 40.5% 48.9%
2022 20.3% 24.8% 65.4% 77.7%
2023 23.7% 26.7% 74.4% 82.3%
2024 23.2% 24.3% 71.4% 89.8%
2025 24.3% 27.7% 58% 110%

Government deficit by year

In 2024, Guyana's government deficit, the difference between spending and revenue, was -$1.83B, equivalent to -7.35% of GDP. This compares to Ukraine's deficit of -$32.9B, or -17.2% of GDP.

Over the past 28 years, Guyana recorded a fiscal deficit in 28 of those years, while Ukraine ran a deficit in 27 years. On average, Guyana posted an annual deficit equal to -3.59% of GDP, compared to deficit of -4.5% of GDP for Ukraine.

Deficit/surplus
Guyana

Ukraine
Year Deficit/surplus, % of GDP
Guyana Ukraine
1995 - -4.72%
1996 - -3.09%
1997 -1.7% -5.37%
1998 -2.67% -2.69%
1999 -0.47% 4.95%
2000 -2.27% -3.19%
2001 -3.71% -3.03%
2002 -2.42% -1.84%
2003 -4.81% -0.89%
2004 -2.88% -4.41%
2005 -6.54% -2.28%
2006 -6.16% -1.36%
2007 -3.35% -1.97%
2008 -2.78% -3.14%
2009 -2.5% -6.27%
2010 -1.88% -5.77%
2011 -2.13% -2.76%
2012 -3.11% -4.31%
2013 -2.16% -4.78%
2014 -3.88% -4.46%
2015 -0.75% -1.16%
2016 -3.21% -2.46%
2017 -3.14% -2.36%
2018 -2.52% -2.12%
2019 -2.52% -2.08%
2020 -7.78% -5.92%
2021 -6.94% -3.97%
2022 -5.11% -15.6%
2023 -5.78% -19.6%
2024 -7.35% -17.2%
2025 -4.95% -18.8%

Inflation comparison by year

Over the past 30 years, Guyana has recorded an average annual inflation rate of 4.17%, compared with 15% in Ukraine. In 2025, inflation was 3.6% in Guyana and 12.6% in Ukraine.

Inflation
Guyana

Ukraine
Year Inflation
Guyana Ukraine Guyana Ukraine
1996 7.1% 80.2%
1997 3.6% 15.9%
1998 4.6% 10.6%
1999 7.5% 22.7%
2000 6.1% 28.2%
2001 2.6% 12%
2002 5.4% 0.8%
2003 6% 5.2%
2004 4.7% 9%
2005 6.9% 13.5%
2006 6.7% 9.1%
2007 12.2% 12.8%
2008 8.1% 25.2%
2009 3% 15.9%
2010 4.3% 9.4%
2011 4.4% 8%
2012 2.4% 0.6%
2013 1.9% -0.3%
2014 0.7% 12.1%
2015 -0.9% 48.7%
2016 0.8% 13.9%
2017 1.9% 14.4%
2018 1.3% 10.9%
2019 2.1% 7.9%
2020 1.2% 2.7%
2021 3.3% 9.4%
2022 6.5% 20.2%
2023 4.5% 12.9%
2024 2.5% 6.5%
2025 3.6% 12.6%

Top exports between countries

Guyana
Export category Export value
Raw materials & minerals $1.62M
Machinery & equipment $778K
Animal & marine products $15K
Ukraine
Export category Export value
Processed food, beverages & tobacco $5.67M
Animal & marine products $525K
Metals $485K
Raw agricultural goods $124K
Machinery & equipment $31K
Textiles & consumer goods $12K
Chemicals & pharma $7K
Wood & paper products $1K

Balance of trade

Guyana Ukraine
Current account balance
$2.35B
2023
-$15.9B
2024
Current account balance ranking
41/189
2023
179/189
2024
Current account balance, % of GDP
+13.9%
2023
-8.35%
2024
Goods imports
$6B
2023
$72.7B
2024
Goods exports
$13.2B
2023
$38.9B
2024
Service imports
$4.95B
2023
$22.8B
2024
Service exports
$529M
2023
$17.2B
2024
Imports of goods and services, % of GDP
109.7%
2005
48.3%
2024
Exports of goods and services, % of GDP
84.6%
2005
29.4%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Guyana Ukraine
Economic freedom 58.2 54.1
Economic freedom ranking 109/197 138/197
Property rights 48.2 21.5
Government integrity 38.6 35.4
Judicial effectiveness 48.3 29.9
Tax burden 76.9 89.1
Government spending 83.6 44.5
Fiscal health 39.7 73.6
Business freedom 71.1 61.1
Labor freedom 76.7 60.7
Monetary freedom 76 71.2
Trade freedom 54 73.2
Investment freedom 55 35
Financial freedom 30 30

Economic freedom by year comparison

The Economic Freedom Index for Guyana is 58.2, ranking 109/197, compared to 54.1 for Ukraine, ranking 138/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Guyana
Ukraine
Year Economic freedom index
Guyana Ukraine
1995 45.7 39.9
1996 50.1 40.6
1997 53.2 43.5
1998 52.7 40.4
1999 53.3 43.7
2000 52.4 47.8
2001 53.3 48.5
2002 54.3 48.2
2003 50.3 51.1
2004 53 53.7
2005 56.5 55.8
2006 56.6 54.4
2007 53.7 51.5
2008 48.8 51
2009 48.4 48.8
2010 48.4 46.4
2011 49.4 45.8
2012 51.3 46.1
2013 53.8 46.3
2014 55.7 49.3
2015 55.5 46.9
2016 55.4 46.8
2017 58.5 48.1
2018 58.7 51.9
2019 56.8 52.3
2020 56.2 54.9
2021 57.4 56.2
2022 59.5 54.1
2023 56.9 -
2024 57.3 -
2025 58.2 -

More economic indicators

Guyana Ukraine
Services, % of GDP
15.3%
2024
60.6%
2024
Industry, % of GDP
74.3%
2024
19%
2024
Agriculture, forestry, and fishing, % of GDP
8.02%
2024
7.11%
2024
GNI, Atlas method
$16.8B
2024
$185B
2024
GNI per capita, PPP
$52,320
2024
$18,580
2024
Total reserves including gold
$1.01B
2024
$43.8B
2024
Total reserves ranking
141/177
2024
46/177
2024
Net foreign direct investment
$1.14B
2023
-$3.71B
2024
Net inflows of foreign direct investment
$8.63B
2024
$4.02B
2024
Net outflows of foreign direct investment
$5.7M
2024
$305M
2024
Servicing debt to the IMF, % of GNI
2.72%
2023
4.2%
2023
Poverty at national poverty lines
35%
2020
23.2%
2020
Gross capital formation, % of GDP
32.3%
2005
18.6%
2024

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.