BEST BANKS 2014: AFRICA
The financial system in Africa varies from the highly developed banking institutions of South Africa and Nigeria to the barely organized banking sector of South Sudan, the world’s newest country.
Guinea GDP and Economic Data
Includes Guinea real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Guinea economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Guinea best banks and safest banks are also available.
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International Reserves
USD 1.2 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 6.5% | 4.1% | -1.5% | 4.2% | 5.6% | 5.9% | 3.9% |
| 2014 | 2015 | 2016 | 2017* | 2018* | ||
| 3.7% | 3.8% | 10.5% | 9.9% | 5.8% |
*Estimate
Source
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.02% | 0.02% | 0.02% | 0.01% | 0.02% |
*Estimate
Source
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GDP - composition by sector
- agriculture: 17.8%
- industry: 29.8%
- services: 41.7%
(2018 estimate)
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 8.2% | 8.2% | 8.9% | 9.8% | 8.9% |
*Estimate
Source
Unemployment rate
| 2015 | 2016 | 2017 | 2018 | 2019 |
| N/A | N/A | N/A | N/A | N/A |
*Estimate
Source
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 41.9% | 42.5% | 40.6% | 38.2% | 45.4% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -6.9% | -0.1% | -2.1% | -1.1% | -2.6% |
*Estimate
Source
Government bond ratings
Standard & Poor's: N/A
Moody's: N/A
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| N/A | N/A | N/A |
Source
Current account balance by percentage of GDP
-18.4 % (2018 estimate)
Source
Exports as percent of GDP (Exports of goods and services)
37.1% (2018)
Shares in world total merchandising export
0.02% (2018)
Shares in world total commercial services export
0.002% (2018)
Export commodities
Bauxite, gold, diamonds, coffee, fish, agricultural products
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Import commodities
Petroleum products, metals, machinery, transport equipment, textiles, grain and other foodstuffs
Exports - major partners
China 35.8%, Ghana 20.1%, UAE 11.6%, India 4.3% (2017)
Imports - major partners
Netherlands 17.2%, China 13.2%, India 11.8%, Belgium 10%, France 6.9%, UAE 4.5% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 1,618 million | USD 577 million | USD 483 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD -4.4 million | USD 0.9 million | USD 0.0 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| N/A | N/A | N/A | N/A |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
156 out of 190 countries
Subcategories:
Starting a Business: 122 out of 190 countries
Dealing with Construction Permits: 116 out of 190 countries
Getting Electricity: 150 out of 190 countries
Registering Property: 122 out of 190 countries
Getting Credit: 152 out of 190 countries
Protecting Minority Investors: 162 out of 190 countries
Paying Taxes: 183 out of 190 countries
Trading across Borders: 167 out of 190 countries
Enforcing Contracts: 118 out of 190 countries
Resolving Insolvency: 118 out of 190 countries
Source
Global competitiveness ranking
122 out of 141 countries
Index of Economic Freedom
Ranking: 120 / Score: 55.7 (Mostly unfree)
(100=totally free 0=totally repressed)
Source
Source
Languages
French (official), Pular, Maninka, Susu, other native languages
Religions
Muslim 89.1%, Christian 6.8%, animist 1.6%, other .1%, none 2.4% (2014 est.)
Total population
| 1990 | 2000 | 2010 | 2015* | 2020* |
| 6.02 million | 8.75 million | 10.88 million | 12.35 million | 13.97 million |
*Estimate
Source
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 10.5% | 23.6% | 30.9% | 36.1% |
Literacy
Total population: 30.4%
Male: 38.1%
Female: 22.8%
Definition: age 15 and over can read and write (2015 est.)
% of population living on less than $3.10 a day
70.3% (last available estimate, 2012)
Inequality of wealth distribution (Gini index)
33.7 (last available estimate, 2012)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Partly Free
Political Rights: 5
Civil Liberties: 4 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 0% Mobile: 96.1% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)