Natural resources yield varying results on export marketFor the first half of 2008, the extraction of natural resources returned varying results, with some sectors performing better than expected,Wholesale Jerseys Free Shipping, while income from others plummeted.This was highlighted in the mid-year financial report for 2008, which was presented to the National Assembly this week by Minister of Finance, Dr Ashni Singh.According to the report, the forestry sector was targeted to record a modest three per cent growth, recovering from the 11.1 percent contraction in output for the previous year.Instead, the first half of 2008 saw maintenance of the downward spiral.There was a 23 percent reduction in output relative to the comparative period last year.According to the Finance Minister’s report, this arises from increased enforcement activities by the Guyana Forestry Commission that resulted in a number of operators being found delinquent in their required submissions to the Commission, and an associated decline in output for the period.It was noted that the majority of operators have since complied with the regulatory requirements by the end of the half year, but several were yet to return to active operations.It was also noted that, even with some expected recovery in production during the peak period from August to November, it is not anticipated that it would compensate for the production shortfall thus far,China Jerseys, and the sector is accordingly projected to decline by 14 percent relative to the anticipated three per cent growth.Following a strong growth performance of 22.7 percent in 2007,Wholesale Nike NFL Jerseys, the mining and quarrying sector was projected to grow a further 5.8 percent in 2008. In the first half of the year,Cheap Jerseys China, the sector grew by 15.2 percent on the strength of robust performances in both the bauxite and gold subsectors.The sector is now anticipated to grow overall by 13.4 percent by year end.Bauxite output expanded by 22.8 percent, with production of 1.2 tonnes as against the 948,608 tonnes recorded in the corresponding period last year, underlying which were increased production of calcined, chemical grade and metallurgical grade bauxite at both the Linden and Berbice river operations.The report suggests that the continued strong performance of the subsector is reflective of the industry’s increased productive capacity as a result of the significant private investments in the sector, along with favourable market conditions.Bauxite output is therefore now projected to grow by 22.4,NFL Jerseys China, revised upwards from the budgeted growth of 17.1 percent.In the gold sector, a 12 per cent growth was recorded, with raw gold declarations totalling 120,510 ounces as against the 107,641 ounces declared in the first half of last year.This, the minister said, reflects continued favourable developments in the world market. As a result, gold output is projected to increase by 7.2 percent by the end of the year, instead of the projected tapering to negative 2.7 percent.On the other hand, diamond declaration maintained its steady decline, partly as a result of migration of capacity and effort into the gold subsector.Total declarations amounted to 82,468 metric carats compared with 170,226 metric carats declared last year — a decline of 51.6 per cent.There are limited expectations of a turnaround.Output of the fisheries sector in the first half of this year approximated last year’s production levels,Cheap China Jerseys, but was blamed mainly on the contraction in the active fishing fleet as a result of increased fuel prices, reduced fishing stock associated with declining productivity in certain fishing grounds, and the continued threat of piracy.As a result, projected growth in this sector for the current year is revised downwards from the budgeted three percent to negative two percent.