Economy of Guinea-Bissau
Population: 1.87 M (2018)
GDP per Capita: 778 USD (2018)
1,460 M.

GDP USD

(2018)

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370 M.

EXPORTS USD

(2018)

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470 M.

IMPORTS USD

(2018)

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53.91 %

PUBLIC DEBT

(2017)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 3.80 % (2018)
GDP of 2010 USD USD 1.20 B. (2018)
GDP Current USD USD 1.46 B. (2018)
GDP per Capita Current USD USD 778 (2018)
GDP per capita, PPP USD 1,596 (2018)
GDP per Capita, 2010 USD USD 622 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 9.69 % (2018)
Government Spending USD 0.14 B. (2018)
Government Debt % GDP 53.91 % (2017)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 101.54 (2018)
Trade Openness 57.79 % (2018)
Exports of Goods and Services % GDP 25.34 % (2018)
Exports Goods & Services USD 0.37 B. (2018)
Exports Annual Growth 12.90 % (2018)
Imports as % GDP 32.46 % (2018)
Total Imports USD 0.47 B. (2018)
Foreign Direct Investment % GDP 1.41 % (2018)
Foreign Direct Investment USD 0.02 B. (2018)
Current Account Balance % GDP USD -3.71 % (2018)
Current Account Balance USD -0.05 B. (2018)
Trade Balance % GDP -7.12 % (2018)
Trade Balance USD -0.08 B. (2018)
Foreign Exchange Reserves incl Gold -0.08
Remittances % GDP 1.82 % (2018)
Remittances USD 95 M. (2018)
Balance of Payments USD 12 M. (2014)

Labor Market

Indicator Value
Labor Force 0.81 M. (2019)
Unemployment Rate 4.07 % (2019)
Unemployment Rate Females 2.21 % (2019)
Unemployment Rate Males 2.70 % (2019)
Youth Unemployment (ages 15-24) 7.43 % (2019)
Labor Force Participation Rate 73.03 % (2019)
Labor Force (Percent Female) 47.76 % (2019)
Female Labor Force Participation Rate 67.46 % (2019)
Male Labor Force Participation Rate 78.91 % (2019)
Dependent People 82.36 % (2018)

Agriculture Sector

Indicator Value
Forest Area 69.80 % (2016)
Forest Area km² 19,620 km² (2016)
Agricultural Land 57.97 % (2016)
Agricultural Land km² 16,300 km² (2016)
Employment 67.85 % (2019)
Value added % GDP 47.46 % (2018)
Agriculture Value added USD 0.69 B. (2018)
Crop Production Index 148.40 (2016)
Precipitation 1,577 mm (2014)
Arable Land 11 % (2016)
Cereal Yield 1,564 kg/hectare (2017)
Food production index 143 (2016)
Rural Population 57 % (2018)
Fertilizer use of Arable Land 143 (2016)
Livestock Production Index 130 (2016)
Economy of Guinea-Bissau

According to the World Bank and its latest published data, the economy of the Guinea-Bissau presents a growth rate of 3.80 % (2018) to the previous year.

With a population that reaches 1.87 M (2018) and a gross domestic product of USD 1.46 B. (2018), it translates a Gross Domestic Product per Capita of USD 778 placing its inhabitants on the threshold of an Low-income country (according to the World Bank's updated classification).

Guinea-Bissau also has a workforce of 0.81 M. (2019) with an unemployment rate of 4.07 % (2019), where women represent 2.21 % (2019) and men 2.70 % (2019), the unemployment rate for young people between 15-24 years old stood at 7.43 % (2019). The total number of dependent people stands at 82.36 % (2018).

The central government spent 9.69 % (2018) of its gross domestic product that year, which in absolute terms is USD 0.14 B. (2018). Its consolidated public debt reached 53.91 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Guinea-Bissau exported USD 0.37 B. (2018), which represents 25.34 % (2018) of its gross domestic product, in that same sense its imports reached USD 0.47 B. (2018) with a direct foreign investment of USD 0.02 B. (2018).

Guinea-Bissau has a forest area of 19,620 km² (2016), which represents 69.80 % (2016) of its total area, an average rainfall of 1,577 mm (2014) per year and a population of 57 % (2018) living in rural areas. With a total area of 16,300 km² (2016) available for agriculture and 67.85 % (2019) of its employments, the agricultural sector contributes to the economy of the Guinea-Bissau about USD 0.69 B. (2018) (47.46 % (2018) of its GDP).