Guinea: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Low Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Almost half of the world's bauxite reserves are found here. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2015): India, Ghana, and China |
| Top Industries Source: CIA World Factbook | Bauxite; Gold; Diamonds; Iron |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $36,985,530,771 (2020) |
| GDP Growth Rate (annual %) | 6.989% (2020) |
| GDP Per Capita, PPP (current international) | $2,816 (2020) |
GDP Country Rank 124/197 (2020)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 10.602% (2020) |
| External debt stocks, total (DOD, current US$) | $4,175,376,874 (2020) |
| Total tax rate (% of commercial profits) | 69.3% (2019) |
| Real Interest Rate (5 year average %) | 10.931% (2001) |
| Manufacturing, value added (% of GDP) | 8.635% (2020) |
| Current Account Balance (BoP, current US$) | $2,684,750,000 (2020) |
Labor and Employment [1]
| Labor Force, Total | 4,456,144 (2020) |
| Employment in Agriculture (% of total employment) | 61.251% (2020) |
| Employment in Industry (% of total employment) | 6.211% (2020) |
| Employment in Services (% of total employment) | 32.538% (2020) |
| Unemployment Rate | 4.35% (2020) |
Trade [1]
| Imports of goods and services (current US$) | $5,815,658,236 (2020) |
| Exports of goods and services (current US$) | $8,333,023,733 (2020) |
| Total Merchandise Trade (% of GDP) | 57.196% (2020) |
| FDI, net inflows (BoP, current US$) | $44,400,000 (2019) |
| Commercial Service Exports (current US$) | $64,830,000 (2020) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Guinea’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.