Economy of Guinea
Population: 12.41 M (2018)
GDP per Capita: 879 USD (2018)
10,910 M.

GDP USD

(2018)

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4,100 M.

EXPORTS USD

(2018)

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5,780 M.

IMPORTS USD

(2018)

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40.41 %

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 6.16 % (2018)
GDP of 2010 USD USD 11.10 B. (2018)
GDP Current USD USD 10.91 B. (2018)
GDP per Capita Current USD USD 879 (2018)
GDP per capita, PPP USD 2,223 (2018)
GDP per Capita, 2010 USD USD 897 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 16.27 % (2018)
Government Spending USD 1.77 B. (2018)
Government Debt % GDP 40.41 % (2017)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 106.59 (2018)
Trade Openness 90.63 % (2018)
Exports of Goods and Services % GDP 37.60 % (2018)
Exports Goods & Services USD 4.10 B. (2018)
Exports Annual Growth 10.26 % (2018)
Imports as % GDP 53.02 % (2018)
Total Imports USD 5.78 B. (2018)
Foreign Direct Investment % GDP 3.23 % (2018)
Foreign Direct Investment USD 0.35 B. (2018)
Current Account Balance % GDP USD -1.75 % (2018)
Current Account Balance USD -0.19 B. (2018)
Trade Balance % GDP -15.42 % (2018)
Trade Balance USD -0.10 B. (2018)
Foreign Exchange Reserves incl Gold USD 1.22 B. (2018)
Remittances % GDP 0.26 % (2018)
Remittances USD 8 M. (2018)
Balance of Payments USD 4 M. (2018)

Labor Market

Indicator Value
Labor Force 4.67 M. (2019)
Unemployment Rate 3.57 % (2019)
Unemployment Rate Females 3.32 % (2019)
Unemployment Rate Males 5.46 % (2019)
Youth Unemployment (ages 15-24) 4.37 % (2019)
Labor Force Participation Rate 64.60 % (2019)
Labor Force (Percent Female) 54.30 % (2019)
Female Labor Force Participation Rate 64.13 % (2019)
Male Labor Force Participation Rate 65.07 % (2019)
Dependent People 87.89 % (2018)

Agriculture Sector

Indicator Value
Forest Area 25.80 % (2016)
Forest Area km² 63,280 km² (2016)
Agricultural Land 59.01 % (2016)
Agricultural Land km² 145,000 km² (2016)
Employment 66.10 % (2019)
Value added % GDP 24.26 % (2018)
Agriculture Value added USD 2.65 B. (2018)
Crop Production Index 133.90 (2016)
Precipitation 1,651 mm (2014)
Arable Land 13 % (2016)
Cereal Yield 1,167 kg/hectare (2017)
Food production index 136 (2016)
Rural Population 64 % (2018)
Fertilizer use of Arable Land 2 kg/hectare (2016)
Livestock Production Index 136 (2016)
Economy of Guinea

According to the World Bank and its latest published data, the economy of the Guinea presents a growth rate of 6.16 % (2018) to the previous year.

With a population that reaches 12.41 M (2018) and a gross domestic product of USD 10.91 B. (2018), it translates a Gross Domestic Product per Capita of USD 879 placing its inhabitants on the threshold of an Low-income country (according to the World Bank's updated classification).

Guinea also has a workforce of 4.67 M. (2019) with an unemployment rate of 3.57 % (2019), where women represent 3.32 % (2019) and men 5.46 % (2019), the unemployment rate for young people between 15-24 years old stood at 4.37 % (2019). The total number of dependent people stands at 87.89 % (2018).

The central government spent 16.27 % (2018) of its gross domestic product that year, which in absolute terms is USD 1.77 B. (2018). Its consolidated public debt reached 40.41 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Guinea exported USD 4.10 B. (2018), which represents 37.60 % (2018) of its gross domestic product, in that same sense its imports reached USD 5.78 B. (2018) with a direct foreign investment of USD 0.35 B. (2018).

Guinea has a forest area of 63,280 km² (2016), which represents 25.80 % (2016) of its total area, an average rainfall of 1,651 mm (2014) per year and a population of 64 % (2018) living in rural areas. With a total area of 145,000 km² (2016) available for agriculture and 66.10 % (2019) of its employments, the agricultural sector contributes to the economy of the Guinea about USD 2.65 B. (2018) (24.26 % (2018) of its GDP).