Dr Clive Thomas

Introduction As indicated, the coming presentations on the forest sub-sector (a strategic segment of the non-mineral extractive sector) utilize the FAO’s definition of the forest.

Forest definition As pointed out last week, today’s column starts an assessment of Guyana’s non-mineral extractive sector.

Introduction Last week I had indicated today’s column would continue to discuss potential pitfalls arising from Guyana’s heavy dependence on extractive export industries, and the likely deepening of this dependence in the coming time of oil and gas production and export.

Shifting perceptions/reality This week’s column and the next will wrap up this somewhat extended discussion I have been having on Guyana’s dependence on the export of minerals.

Bauxite trends As promised, this week I resume discussion of the bauxite industry in the context of Guyana’s extractive mineral resources export dependence.

Introduction: one-off As I have done over the past several years, I had intended, some time much later in the year, to devote a few columns to an update on the state of Guyana’s sugar industry.

Introduction Last week’s column provided information for readers seeking a basic appreciation of the role the gold industry (Guyana’s leading mineral sub-sector), plays when assessing the pitfalls posed by its dependence on extractive industries.

Introduction Today’s column continues the discussion of Guyana’s mineral resources extractive dependence.

Introduction In order to contextualize the analysis of the opportunities and pitfalls of Guyana’s mineral resources extraction dependence, this week’s column introduces further economic information on the overall performance of the sector.

Introduction As indicated last week, today’s column continues the discussion of risks and pitfalls facing mineral resources extraction in Guyana.

Introduction Having completed discussion of the appropriateness of GDP as a measure of Guyana’s economic size, progress, and national/individual well-being/welfare, I turn now to a broader assessment of Guyana’s development at this particular conjuncture.

Introduction Following last week’s description of the World Economic Forum’s (WEF), annual Global Competitiveness Index (GCI), today’s column focuses on Guyana’s results.

Introduction Last week I offered the view that for the foreseeable future, the GDP will continue as the premier measure worldwide, and in Guyana, of economic size and progress, as well as national and individual welfare/well-being.

The two preceding columns have presented, firstly, the case made by analysts who believe that, despite its limitations, the GDP remains the most appropriate indicator of economic size, rate of progress and level of welfare or well-being enjoyed by Guyanese.

Introduction Last week’s column responded to the question: Is Guyana’s GDP an appropriate measure of its economic size, progress or well-being?

Introduction Thus far, my reflections on Guyana’s economic statistics have centred on its national accounts, and in particular the GDP.

Introduction Presently Guyana’s national accounts are compiled relative to the base year 2006.

Introduction Let me admit upfront, I agree entirely with Ramesh Gampat’s headline statement as reported in his SN letter of October 26, 2015: `While Guyana’s data is too weak to be subjected to rigorous analysis it allows for broad trends’.

Guyana’s most basic and fundamental economic statistics are its national accounts.

Introduction Last week’s column wrapped-up the series of nine successive contributions arguing for the adoption by Guyana and Caricom, of the United Nations (UN) Post-2015 Development Agenda and the Sustainable Development Goals (SDGs), as their long-term planning and policy frameworks.