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What is the fastest growing economy in the Caribbean?

Guyana recorded GDP growth of 62.3% in 2022, the highest in the world, according to the IMF. Besides oil production ramping up with a third oil field coming on stream, growth in Guyana's nonoil sector has also been boosted by investment in transportation, housing and raising human capital.



As of 2026, Guyana continues to be the fastest-growing economy in the Caribbean region and, indeed, one of the fastest-growing in the entire world. While geographically located on the mainland of South America, Guyana is culturally and politically integrated into the Caribbean community (CARICOM). This explosive growth is driven almost entirely by the massive offshore oil discoveries that began production in late 2019. Since then, the country’s GDP has seen triple-digit or high double-digit growth rates annually as production from the Stabroek Block continues to ramp up. This influx of oil wealth has triggered a massive infrastructure boom, with new roads, bridges, and hotels springing up across the capital, Georgetown. However, this rapid expansion brings challenges, including the risk of "Dutch Disease" and the need for robust institutional management to ensure the wealth benefits the general population. Other Caribbean nations like the Dominican Republic also show strong, diversified growth in tourism and manufacturing, but they cannot match the sheer mathematical velocity of Guyana's resource-led economic transformation, which has fundamentally changed the geopolitical and economic landscape of the Caribbean basin.

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