Guyana Projected to Earn US$28Mn From Timber Exports

• The sustainable use of Guyana’s forest resources has generated great returns over the years, especially in the area of timber production and exportation, which is projected to remain lucrative this year, with estimated returns of US$28Mn. 
• As outlined by the country’s 2022 Budget, timber output grew from 344,179 cubic meters in 2020 to 383,189 cubic meters in 2021, reflecting an expansion in construction activity. 
• Guyana has one of the highest percentages of forest cover in the world and presents immense opportunities to investors, who are interested in sustainably utilising and developing forest resources. Already, persons have capitalised on those opportunities, and this is evidenced by returns from the exportation of timber in 2021, which amounted to US$26.5Mn. 
• The growth that Guyana has experienced from its forestry sector will present an opportunity for increased export earnings, job creation and economic growth on a whole for the nation.

 (Source: The Tribune)