Guyana’s oil-driven economy has seen the world’s fastest growth in GDP per capita in recent years

Guyana, a small country in South America, has seen the fastest growth in gross domestic product (GDP) per capita in the world over the past decade.

This is illustrated in the chart, which shows GDP per capita for Guyana and several other countries, based on estimates from the World Bank.

The data is adjusted for inflation, so Guyana’s sharp growth is not due to price changes over time.

A large and sudden expansion in oil production has driven most of this growth. Between 2020 and 2025, the country’s oil production grew 860%, making it a key contributor to global crude oil supply growth.

Before oil extraction started, Guyana’s GDP per capita was well below the global average. It is now more than three times higher.