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Guinea

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.

Basic Information

Government Type: Presidential republic

Capital City: Conakry

GDP & Economic Information

Macroeconomy & Sovereign Data

Central Bank
Central Bank of the Republic of Guinea
Currency Guinean francs (GNF)

International Reserves USD 1.2 billion (2018)

International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product – GDP USD 11.7 billion (2018, estimate)
GDP (Purchasing Power Parity) Intl$ 30.7 billion (2018, estimate)

GDP Data

Real GDP growth 2007: 6.5%
2008: 4.1%
2009: -1.5%
2010: 4.2%
2011: 5.6%
2012: 5.9%
2013: 3.9%
2014: 3.7%
2015: 3.8%
2016: 10.5%
2017*: 9.9%
2018*: 5.8%

*Estimate
GDP per capita – current prices USD 883.0 (2018, estimate)

GDP per capita – PPP Intl$ 2,309.6 (2018, estimate)
GDP (PPP) – share of world total 1980: 0.02%
1990: 0.02%
2000: 0.02%
2010: 0.01%
2019*: 0.02%
*Estimate
GDP – composition by sector agriculture: 17.8%
industry: 29.8%
services: 41.7%
(2018 estimate)
Gross domestic expenditure on R&D; (% of GDP) N/A
Inflation 2015: 8.2%
2016: 8.2%
2017: 8.9%
2018*: 9.8%
2019*: 8.9%
*Estimate

Inflation & Debt

Inflation 2015: 8.2%
2016: 8.2%
2017: 8.9%
2018*: 9.8%
2019*: 8.9%
*Estimate
Government Bond Ratings Standard & Poor’s: N/A

Moody’s: N/A

Standard & Poor’s / Moody’s
Unemployment rate N/A
Household saving rates N/A
Public debt (General government gross debt as a % of GDP) 2015: 41.9%
2016: 42.5%
2017: 40.6%
2018*: 38.2%
2019*: 45.4%
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP) 2015: -6.9%
2016: -0.1%
2017: -2.1%
2018*: -1.1%
2019*: -2.6%
*Estimate
Market value of publicly traded shares N/A
Largest Companies N/A

Import/Export

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)
Total exports USD 4.7 billion (2018 estimate)
Export commodities Bauxite, gold, diamonds, coffee, fish, agricultural products
Total imports USD 5.4 billion (2018 estimate)
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)

Competitiveness & Trade

Current account balance USD -2.2 billion (2018 estimate)
Current account balance by percentage of GDP -18.4 % (2018 estimate)
FDI inflows 2016: USD -4.4 million
2017: USD 0.9 million
2018: USD 0.0 million
FDI Outflows N/A
Value of cross-border M&A, by country of purchaser N/A


United Nations Conference on Trade and Development (UNCTAD) – World Investment Report
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
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)

Population & Geographic Data

Time Zone UTC 0

Total Area 245,857 sq km

Total Population 1990: 6.02 million
2000: 8.75 million
2010: 10.88 million
2015*: 12.35 million
2020*: 13.97 million
*Estimate
Urban population as % of total population 1960: 10.5%
1980: 23.6%
2000: 30.9%
2018: 36.1%
Population median age 19 years
Population growth rate 2.75% (2018 estimate)
Life expectancy 62.1 years (2018 estimate)
% 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)
Freedom House rating Partly Free
Political Rights: 5
Civil Liberties: 4 (2019)

(1 represents the most free, 7 the least free rating)
Total telephone subscribers as % of population
Fixed: 0% Mobile: 96.1% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)
Internet users as % of total population
18% (2017)

Language & Religon

Languages French (official), Pular, Maninka, Susu, other native languages

Literacy
Total population: 30.4%
Male: 38.1%
Female: 22.8%
Definition: age 15 and over can read and write (2015 est.)
Religions Muslim 89.1%, Christian 6.8%, animist 1.6%, other .1%, none 2.4% (2014 est.)

World Rankings

Population 13.97 M
Mercer Cost of living index Conakry: 88th (2019)

C02 Emissions per capita 0.22 metric tons per capita (2014)

Global Finance Rankings & Awards: Guinea

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.


Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000

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