Caribbean eyes 30% manufacturing boost

– Guyana ramps up supply for infrastructure, housing demand

The Caribbean is moving to transform its manufacturing sector, with regional associations setting medium- to long-term strategies aimed at increasing the sector’s contribution to national economic growth by up to 30 per cent.
The initiative is being spearheaded by the Caribbean Manufacturers’ Association (CMA), which brings together manufacturers from Guyana, Barbados, Jamaica, Trinidad and Tobago, St Lucia, and Dominica. The association projects that an expansion in exports to regional and international markets will also generate thousands of new jobs across member states.
“A realistic medium-term goal is to grow this contribution to five to 10 per cent of Gross Domestic Product (GDP), and in the longer term, through sustained policy support and diversification efforts, to achieve 10 to 20 per cent of GDP,” said Ramsay Ali, Immediate Past President of the Guyana Manufacturing and Services Association (GMSA) and current President of the CMA.
The latest Manufacturing Sector Report, featured in the 2025 edition of Caribbean Business & Travel, profiles the Presidents of the six manufacturers’ associations and identifies new investment opportunities in the sector. Editor Sandra Ann Baptiste, Chief Executive Consultant of Caribbean Signature, noted that the publication highlights the region’s potential amid “a challenging and rapidly changing global trading environment” and places renewed focus on CARICOM’s trade agreements.
In Guyana, manufacturers are positioning themselves to play a critical role in the country’s ongoing development drive. Ali, who is also the CEO of Sterling Products, said local firms are scaling up to meet surging demand for materials in the infrastructure, housing, and logistics sectors. “This creates new opportunities for both local and foreign investors to partner in building out the industrial supply chain that supports national development,” he emphasised.
Meanwhile, in Trinidad and Tobago, the sector is aiming for a major leap in non-energy exports. TTMA President Dale Parson, CEO of Kaleidoscope Paints, said the association has mapped out a multipronged strategy to grow exports from TT$6.2 billion to TT$10.6 billion by 2030. “The TTMA believes that ideally, the manufacturing sector would aim for 25-30 per cent GDP contribution in the medium term, especially with continued government incentives and regional trade expansion,” Parson said.
Barbados is also eyeing higher contributions from its manufacturers, particularly in agro-processing, cosmetics, and food and beverage production. Barbados Manufacturers Association (BMA) President Rakeesh Bernard, Managing Director of Roberts Manufacturing, said the sector aims to grow its GDP share from close to six per cent to between seven and 15 per cent. “We must diversify exports by engaging new markets, advancing digital trade, and adopting modern technological platforms,” Bernard said.
Jamaica is pursuing opportunities in import substitution, especially in basic food products, packaging, cleaning agents, and household items. Sydney Thwaites, Immediate Past President of the Jamaica Manufacturers and Exporters Association (JMEA), pointed to strong results from three recent Jamaican trade missions to Guyana. “They were far from symbolic,” Thwaites said. “Several Jamaican firms have already secured contracts, particularly in construction and technology, where Guyana’s infrastructure boom is creating heavy demand for materials and services.”
Saint Lucia is seeking to increase its manufacturing contribution to GDP from six per cent to 10 per cent. SLMA President Marguerite Desir, Chief Operating Officer of Harris Paints International, said growth will be supported by scaling up production and boosting exports.
Further, Dominica is looking to leverage regional expertise to expand production of bottled water, condiments, furniture, and craft items. John Robin, President of the Dominica Manufacturers Association and managing director of Benjo’s Seamoss and Agro Processing, said his association is drawing on the experience of Trinidadian manufacturers to accelerate its progress.
As it relates to policy directive, the Guyana Government has created a lucrative environment for the expansion of the local manufacturing sector.
In fact, the 2025 National Budget promised to bring substantial benefits to employees and businesses alike. These initiatives reflect the government’s commitment to addressing key concerns within the manufacturing and services sectors. The manufacturing sector saw an expansion of 13.5 per cent in 2024, driven primarily by “other manufacturing”. This growth signifies a strategic shift from reliance on traditional manufacturing sectors such as rice and sugar towards a broader manufacturing base such as non-metallic and fabricated metal products, beverages and processed food.
The services sector, which remains a critical pillar of Guyana’s GDP, also experienced notable growth, expanding by 7.4 per cent in 2024.
Several key initiatives announced in Budget 2025 to benefit the private sector included the increase in the income tax threshold to $130,000 per month and the reduction in personal income tax rates from 28 per cent to 25 per cent and 40 per cent to 35 per cent, which are expected to provide much-needed financial relief to the working population, making more disposable income available. Additionally, it includes the removal of VAT on agricultural machinery, automated poultry pens and veterinary supplies, among others.