Guyana – Brazil trade hits USD 1 billion
GUYANA / BRAZIL, (DPI) – Brazil’s ambassador to Guyana, Maria Cristina de Castro Martins, recently revealed that trade between the two countries has increased from approximately USD 58 million in 2020 to USD 1 billion in 2026; speaking on 104.1 Guyana Lite FM, ambassador Castro Martins described the expansion over the past four years as […] The post Guyana – Brazil trade hits USD 1 billion appeared first on Caribbean News Global.
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GUYANA / BRAZIL, (DPI) – Brazil’s ambassador to Guyana, Maria Cristina de Castro Martins, recently revealed that trade between the two countries has increased from approximately USD 58 million in 2020 to USD 1 billion in 2026; speaking on 104.1 Guyana Lite FM, ambassador Castro Martins described the expansion over the past four years as a result of growing demand in energy, mining, infrastructure and construction.
“The trade relations between both countries have been expanded significantly in recent years. The trade flow, which was around US$58 million in 2020, has now reached USD1 billion,” the ambassador stated.
Trade between Guyana and Brazil has expanded significantly, with both governments positioning the growing partnership as a key driver for South American integration and long-term economic development.
Guyana’s foreign secretary, Robert Persaud, said the growth reflects a strong political and economic relationship between the two neighbours.
“The increase in trade between Guyana and Brazil reflects the political will by both sides to maintain good neighbourly relations through enhanced cooperation in all areas, including trade,” Persaud told the Department of Public information.
Guyana’s foreign secretary, Persaud, said that by 2024, Brazil had become Guyana’s fifth-largest source of imports and its seventh-largest export market. He attributed the success to closer cooperation between the governments and private sectors of both nations through reciprocal trade missions. And that disruptions in global supply chains have also prompted Guyanese businesses to look for alternative markets to support the country’s massive housing, agriculture and infrastructure projects.
Balancing the trade deficit
The foreign secretary, however, acknowledged that the current trade balance remained heavily in Brazil’s favour.
“While there is an increase in trade, largely due to oil exports, it remains largely in favour of Brazil. Bilateral trade is conducted under the Partial Scope Agreement signed by both countries in 2001. The trade imbalance is understandably due to differences in competitiveness, size and productive capacity,” Persaud continued. “Some of Guyana’s products face technical barriers, including phytosanitary requirements, which is an area that the countries continue to collaborate on.”
Infrastructure and regional integration
Looking at the broader region, Persaud said Guyana views Brazil as a vital strategic partner and a gateway between South America and the Caribbean.
“The Guyana-Brazil relationship is fundamental to South American integration and the prosperity of the region,” he reiterated. The two countries are currently working to strengthen digital, energy and transport links to drive economic growth.
The foreign secretary is overseeing several major infrastructure projects acting as catalysts for this integration, including the Linden-Lethem Road, a planned deep-water port and the upgrade of the Lethem regional airport.
“Guyana’s commitment to fostering a favourable investment climate, noting that regional investments are contributing to job creation, technology transfer and increased economic activity,” Guyana’s foreign secretary, Persaud, reaffirmed.
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