Guyana Exports US$9.7B to EU in 2024, Seeks Diversification Beyond Crude

Guyana exported US$9.7 billion worth of products to the European Union in 2024, with crude oil accounting for 66% of the volume. President Irfaan Ali has signaled efforts to broaden the export base, focusing on agriculture, coconut products, and agro-processing. This push comes as Guyana looks to leverage its growing trade surplus with Europe and align with its wider food security and economic diversification agenda.

Climate Smart Agriculture Gets Boost from ExxonMobil Foundation

Nineteen participants from Guyana and St Lucia graduated from a Climate Smart Agriculture training supported by the ExxonMobil Foundation. The initiative aims to modernize farming techniques, including shade house technologies, as part of Guyana’s climate adaptation strategy. This move is part of Guyana’s bid to become a regional leader in climate-resilient agriculture, bolstering food security and promoting agro-processing exports.

Business Opportunities Based On Today’s Developments

Small Enterprise Opportunities

1. Certified Medical Lab Support & Consultancy Services

   • Opportunity: As seen with Oxford Medical Centre Laboratory's certification, there is a growing demand for certified diagnostic services, particularly from corporate clients and insurance firms. Small enterprises can provide consultancy and support services for new labs seeking GNBS or ISO certification, including document management, training, and lab setup advisory.

   • Note: Targeting niche players or private doctors expanding diagnostic services in regions underserved by major labs.

2. Cooking Gas Cylinder Safety Training & Retail Compliance Checks

   • Opportunity: Following the GEA’s new safety guidelines for LPG use, small businesses can offer household safety audits, training workshops, and sell certified accessories (hoses, clamps, regulators) as a packaged service for residential and commercial users.

   • Note: This ties into rising middle-class home safety awareness and corporate responsibility in hospitality and food service sectors.

3. Climate-Smart Microfarming Services (Shadehouse Leasing & Setup)

   • Opportunity: Post the CSA training by EMC and NAREI, small businesses can lease shadehouse spaces or set up micro shadehouse kits for backyard farmers and schools, providing ongoing crop consultancy and organic produce sales.

   • Note: Focus on premium crops like herbs, peppers, and niche vegetables for the growing agro-processing and hospitality market.

Medium Enterprise Opportunities

1. Private Cardiology & Hypertension Care Clinics with Telemedicine Integration

   • Opportunity: With the national push to standardize hypertension care, private clinics focusing on cardiovascular care, supported by digital health platforms, can fill a critical service gap in both urban and hinterland areas.

   • Note: Integrate with insurance providers and workplace wellness programs for corporate partnerships.

2. Fuel Logistics & Compliance Services for Oil & Gas Operators

   • Opportunity: The SOL Guyana tax ruling highlights a regulatory gap. Medium enterprises can offer third-party logistics services, compliant storage solutions, and tax reconciliation consulting for fuel importers and service providers in the oil and gas sector.

   • Note: Critical as Guyana's oil services sector tightens post-PSA and tax reforms.

3. Mobile Disaster & Emergency Response Services (River Ambulance, Gas Leak Response, Fire Prevention)

   • Opportunity: Recent ambulance and fire incidents underscore a gap in rapid response. Businesses can establish private emergency services specializing in river transport, remote firefighting, and LPG incident response.

   • Note: Can collaborate with local government and mining or forestry sectors in remote regions.

Large Enterprise Opportunities

1. Oil & Gas Exploration and Gas Monetization Projects (Public-Private Partnerships)

   • Opportunity: With Jagdeo reaffirming no halt to exploration, large companies can partner on deepwater gas field development, LNG infrastructure, and downstream petrochemicals in Guyana, positioning the country as a regional gas exporter.

   • Note: Explore partnerships on Haimara and Pluma fields, and with Fulcrum LNG for early-stage investment.

2. Agro-Processing & Export Hubs Focused on EU Markets

   • Opportunity: Guyana’s export surplus with Europe is heavily oil-weighted. Large enterprises can invest in agro-processing facilities targeting coconut, fruits, spices, and condiments for EU export, leveraging Guyana’s favorable trade status.

   • Note: Align with President Ali’s drive to diversify exports and create high-value products with traceability for the European market.

3. Film, Media & Ethnic Awareness Content Creation Industry

   • Opportunity: The success of the ERC’s anti-racism film competition shows potential for scaling a national creative content industry that produces films, documentaries, and VR experiences promoting inclusion, tourism, and heritage.

   • Note: Could be part of a larger initiative to position Guyana as a Caribbean film and media production hub, supported by government and international agencies.

Side Hustle Ideas Based On Today’s Developments

1. Mobile LPG Safety & Compliance Check Services

• Concept: Offer on-demand home visits to inspect LPG installations for safety compliance, gas leak detection using simple soap tests, and provide basic education on safe handling, based on the GEA’s new guidelines.

• Why It Works: Rising awareness following the GEA campaign creates an immediate niche. Low setup cost (basic tools and a checklist), and can be marketed to homeowners, small food vendors, and apartment managers.

• Execution Tip: Offer package deals that include hose and regulator replacements (profit from selling certified accessories).

2. Boutique Climate-Smart Urban Farming Plots & Subscription Veggie Boxes

• Concept: Use small backyard or rooftop plots (or rent unused spaces) to build low-cost shadehouses and produce high-demand greens and herbs for subscription veggie boxes targeting young professionals, restaurants, and expats.

• Why It Works: Guyana is promoting CSA techniques, but there's still a gap in fresh, premium, pesticide-free produce in urban centers.

• Execution Tip: Partner with offices to offer “green office” subscriptions and use social media to showcase the farm-to-fork story.

3. Heritage & Social Issue Documentary Storytelling (Micro-Videos & Social Media)

• Concept: Create short-form, smartphone-shot documentaries or reels focused on Guyana’s cultural diversity, social cohesion stories, or environmental challenges. Monetize via YouTube, TikTok, and sponsored content from NGOs and government campaigns.

• Why It Works: ERC’s film competition success and rising social dialogue demand authentic local storytelling. Low-cost, scalable, and fits around a day job.

• Execution Tip: Offer content services to local businesses, NGOs, or schools looking to share their stories while building your own content channel.