Analysis by Region - Emerging Markets - Guyana
We expect new oil discoveries will continue to drive Guyana's economic expansion and forecast GDP to grow by 48.7% in 2022 following a 19.9% rise in 2021. ExxonMobil, the largest operator in offshore Guyana, made three new oil discoveries this month and five since the start of 2022, bringing the total to 31 oil discoveries in Guyana since 2015. We expect oil production to increase in the coming years and forecast GDP to grow by 31.5% in 2023 and 7.7% in 2024.
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