| GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Guinea-Bissau Economy 2014

SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES











Guinea-Bissau Economy 2014
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 28, 2014

Economy - overview:
One of the poorest countries in the world, Guinea-Bissau's legal economy depends mainly on farming and fishing, but trafficking in 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. In December 2010 the World Bank and IMF announced support for $1.2 billion worth of debt relief. 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):
$1.911 billion (2012 est.)
country comparison to the world: 193

$1.938 billion (2011 est.)
$1.84 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$811.9 million (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-1.5% (2012 est.)
country comparison to the world: 201

5.3% (2011 est.)
3.5% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$1,200 (2012 est.)
country comparison to the world: 211

$1,300 (2011 est.)
$1,200 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 74.6%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 11.6%
investment in fixed capital: 11.6%
investment in inventories: 0%
exports of goods and services: 21.5%
imports of goods and services: -19.3%

(2012 est.)

GDP - composition, by sector of origin:
agriculture: 57.6%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 13.6%
services: 28.7% (2012 est.)

Agriculture - products:
rice, corn, beans, cassava (manioc), cashew nuts, peanuts, palm kernels, cotton; timber; fish

Industries:
agricultural products processing, beer, soft drinks

Industrial production growth rate:
-0.3% (2012 est.)
country comparison to the world: 138
[see also: Industrial production growth rate country ranks ]

Labor force:
632,700 (2007)
country comparison to the world: 154
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 82%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 18% (2000 est.)

Unemployment rate:
NA%
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.9%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 28% (2002)

Budget:
revenues: $129.1 million
[see also: Budget revenues country ranks ]
expenditures: $153.4 million (2012 est.)

Taxes and other revenues:
15.9% of GDP (2012 est.)
country comparison to the world: 189
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3% of GDP (2012 est.)
country comparison to the world: 121
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.1% (2012 est.)
country comparison to the world: 48

5% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2009)
country comparison to the world: 79

4.75% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
15% (31 December 2012 est.)
country comparison to the world: 42

15% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$264.9 million (31 December 2012 est.)
country comparison to the world: 171

$308.7 million (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$414.3 million (31 December 2012 est.)
country comparison to the world: 180

$364.5 million (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$171.8 million (31 December 2012 est.)
country comparison to the world: 174

$122.4 million (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$-47.4 million (2012 est.)
country comparison to the world: 66

$-23.31 million (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$127.9 million (2012 est.)
country comparison to the world: 187

$242 million (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
fish, shrimp; cashew nuts, peanuts, palm kernels, sawn lumber

Exports - partners:
India 56.5%, Nigeria 27.1%, Togo 5.9% (2012)

Imports:
$189.8 million (2012 est.)
country comparison to the world: 205

$253.7 million (2011 est.)
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, machinery and transport equipment, petroleum products

Imports - partners:
Portugal 28.8%, Senegal 17.5%, US 7.3%, China 5% (2012)

Debt - external:
$1.095 billion (31 December 2010 est.)
country comparison to the world: 159

$941.5 million (31 December 2000 est.)
[see also: Debt - external country ranks ]

Exchange rates:
Communaute Financiere Africaine francs (XOF) per US dollar -

510.53 (2012 est.)
471.87 (2011 est.)
495.28 (2010 est.)
472.19 (2009)
447.81 (2008)


NOTE: 1) The information regarding Guinea-Bissau on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea-Bissau Economy 2014 information contained here. All suggestions for corrections of any errors about Guinea-Bissau Economy 2014 should be addressed to the CIA.
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






This page was last modified 06-Nov-14
Copyright © 1995- , ITA (all rights reserved).


    . Feedback