Economy - overview:
One of the poorest countries in the world, Guinea-Bissau's legal economy depends mainly on farming and fishing, but trafficking narcotics is probably the most lucrative trade. The combination of limited economic prospects, a weak and faction-ridden government, and favorable geography have made this West African country a way station for drugs bound for Europe. Cashew crops have increased remarkably in recent years; low rainfall hindered cereals and other crops in 2011. Guinea-Bissau exports fish and seafood along with small amounts of peanuts, palm kernels, and timber. Rice is the major crop and staple food. However, intermittent fighting between Senegalese-backed government troops and a military junta destroyed much of the country's infrastructure and caused widespread damage to the economy in 1998; the civil war led to a 28% drop in GDP that year, with partial recovery in 1999-2002. In December 2003, the World Bank, IMF, and UNDP were forced to step in to provide emergency budgetary support in the amount of $107 million for 2004, representing over 80% of the total national budget. The government is successfully implementing a three-year $33 million extended credit arrangement with the IMF that runs through 2012. Guinea-Bissau made progress with debt relief in 2011 when members of the Paris Club opted to write-off much of the country's obligations.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
NOTE: 1) The information regarding Guinea-Bissau on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea-Bissau Economy 2012 information contained here. All suggestions for corrections of any errors about Guinea-Bissau Economy 2012 should be addressed to the CIA.
$1.938 billion (2011 est.)
country comparison to the world: 189
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$1 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
4.8% (2011 est.)
country comparison to the world: 81
[see also: GDP - real growth rate country ranks ]
$1,100 (2011 est.)
country comparison to the world: 208
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 55.7%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 12.7%
[see also: GDP - composition by sector - industry country ranks ]
services: 31.6% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
632,700 (2007)
country comparison to the world: 153
[see also: Labor force country ranks ]
agriculture: 82%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 18% (2000 est.)
NA%
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: 2.9%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 28% (2002)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
12.9% of GDP (2011 est.)
country comparison to the world: 173
[see also: Investment (gross fixed) country ranks ]
revenues: $176.2 million $NA
[see also: Budget revenues country ranks ]
expenditures: $196.5 million $NA
[see also: Budget expenditures country ranks ]
17.6% of GDP (2011 est.)
country comparison to the world: 173
[see also: Taxes and other revenues country ranks ]
-2% of GDP (2011 est.)
country comparison to the world: 79
[see also: Budget surplus (+) or deficit (-) country ranks ]
5.2% (2011 est.)
country comparison to the world: 122
[see also: Inflation rate (consumer prices) country ranks ]
4.25% (31 December 2009)
country comparison to the world: 80
[see also: Central bank discount rate country ranks ]
15.3% (31 December 2011 est.)
country comparison to the world: 42
[see also: Commercial bank prime lending rate country ranks ]
$289 million (31 December 2011 est.)
country comparison to the world: 174
[see also: Stock of narrow money country ranks ]
$291.1 million (31 December 2011 est.)
country comparison to the world: 185
[see also: Stock of broad money country ranks ]
$115.9 million (31 December 2011 est.)
country comparison to the world: 186
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
rice, corn, beans, cassava (tapioca), cashew nuts, peanuts, palm kernels, cotton; timber; fish
agricultural products processing, beer, soft drinks
4.7% (2003 est.)
country comparison to the world: 76
[see also: Industrial production growth rate country ranks ]
70 million kWh (2008 est.)
country comparison to the world: 198
[see also: Electricity - production country ranks ]
65.1 million kWh (2008 est.)
country comparison to the world: 199
[see also: Electricity - consumption country ranks ]
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2010 est.)
country comparison to the world: 126
[see also: Oil - production country ranks ]
3,000 bbl/day (2010 est.)
country comparison to the world: 180
[see also: Oil - consumption country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 203
[see also: Oil - exports country ranks ]
2,565 bbl/day (2009 est.)
country comparison to the world: 174
[see also: Oil - imports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 115
[see also: Natural gas - production country ranks ]
0 cu m (2009 est.)
country comparison to the world: 121
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 164
[see also: Natural gas - exports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 116
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2011 est.)
country comparison to the world: 182
[see also: Natural gas - proved reserves country ranks ]
-$100 million (2011 est.)
country comparison to the world: 75
[see also: Current account balance country ranks ]
$142.3 million (2011 est.)
country comparison to the world: 187
[see also: Exports country ranks ]
fish, shrimp; cashew nuts, peanuts, palm kernels, sawn lumber
India 76.9%, Nigeria 16.6% (2010)
$239.5 million (2011 est.)
country comparison to the world: 199
[see also: Imports country ranks ]
foodstuffs, machinery and transport equipment, petroleum products
Senegal 21.8%, Portugal 20.5%, Brazil 5.6%, Cuba 4.1% (2010)
$NA (31 December 2010)
[see also: Reserves of foreign exchange and gold country ranks ]
$941.5 million (2000 est.)
country comparison to the world: 158
[see also: Debt - external country ranks ]
Communaute Financiere Africaine francs (XOF) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12