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. This information will continue to be provided for the next two 
columns. As indicated last week, the IMF classifies countries as being ‘mineral dependent’, if 25 per cent or more of the value of its merchandise exports (fob) arise from the sale of mineral products. Guyana easily exceeds this standard, achieving significantly more than 50 per cent in recent years. This outcome has been the product of both prices received and quantities exported.
The two leading mineral products exported during the past decade (2005-2014) have been gold and bauxite, with others (clay, loam, sand, stone, diamonds) considerably smaller. Over the past decade, gold exports have averaged about US$350 million, which is more than thrice the average earnings of bauxite (about US$110 million). This difference in earnings has varied over the
