Surging Oil Exports Will Flip Guyana's Current Account Deficit To Surplus In Long Term

• Guyana’s current account deficit will sharply narrow in the coming years, turning to a surplus by 2023, largely because of surging crude oil exports.
• The country’s oil boom will support robust real GDP and import growth, in contrast with many markets in the Americas where imports have fallen in 2020 amid deep economic contractions.
• Fitch Solutions forecasts Guyana’s current account deficit will be 38.9% of GDP in 2020 and 25.1% in 2021, from an estimated 51.1% deficit in 2019.

(Source: Fitch Solutions)