For a second consecutive year, Guyana is ranked at 134 in the World Bank’s ease of doing business index.
Last year, Guyana dropped eight places in the World Bank’s rankings, moving to 134 out of 190 from a rank of 126 in 2017. The lower the numerical ranking, the better the business climate. In 2016, the country attained a rank of 124 but dropped two places the following year. 2016 had seen one of the country’s biggest gains in recent years on the ranking scale as it had moved up a whopping 16 places to 124 from 140 in 2015. In 2014, the country was ranked at 132. According to the latest report, Guyana made trading across borders more expensive by increasing the fees for mandatory inspection through scanners for exports, thereby increasing the cost of export border compliance.
Meantime, the World Bank’s business score captures the gap between an economy’s performance and its measure of best practice across the entire sample of 41 indicators for 10 ‘Doing Business’ topics (the labour market regulation indicators are excluded).