logo

ECON FACTBOOK

Home    About

Economy of Guinea

Population: 11.7 million in 20131

GDP: $6.2 billion in 20132

GDP per capita: $523 nominal3 ($1,255 PPP4) in 2013

GDP growth rate: 2.3% in 20135

Industries

GDP by Industry 20126

Industry sectorValue added ($ millions) 2012Percent of total
Agriculture, hunting, forestry, fishing1,25024.6%
Mining and utilities1,02520.2%
Other activities96619.0%
Wholesale, retail trade, restaurants and hotels79315.6%
Transport, storage and communication3877.6%
Construction3466.8%
Manufacturing3196.3%
Total value added5,086100%

Employment

Unemployment rate: 1.8% in 20137

Employment by Industry 20068

Employment sectorPercent of total
Agriculture76%
Industry and services24%
Total100%

Corporations

Top 10 Corporations by Revenue 20139

N/A

Households

Household Wealth: $5 billion (81% of GDP) in 201410

Household Wealth per Adult: $894 in 201410

Gini Coefficient: .394 in 201311

Government

Central Government

Central Government Revenue: $1.5 billion (24% of GDP) in 201312

Central Government Expenditure: $1.8 billion (29% of GDP) in 201312

Central Government Budget Balance: -$0.3 billion (-5% of GDP) in 201312

Central Government Public Debt: N/A

Central Government 10 Year Bond Interest Rate: N/A

Government Funds

N/A

Tax Structure

Individual Income Tax Rates and Thresholds in 2013* 13

Corporate Tax Rate: 35% in 201314

* Individual thresholds calculated using the exchange rate 7,080 GNF = 1 USD

Monetary Policy

Money Supply (M0): $950 million (15% of GDP) in Oct 2013* 15

Benchmark Interest Rate: 16

Total Reserves: $182 million (3% of GDP) in 201317

Exchange Rate: 7,080 Guinean Francs = 1 U.S. Dollar on Feb 18, 201318

Inflation: 11.9% in 201319

* Money supply calculated using the exchange rate 7,080 GNF = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 201320

N/A (data not available at Relbanks.com)

International Accounts

Exports: $1.3 billion (21% of GDP) in 201321

Imports: $2.4 billion (39% of GDP) in 201321

Trade Balance: -$1.1 billion (-18% of GDP) in 201321

Foreign Direct Investment Inflow: $135 million (2% of GDP) in 201322

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: $340 million (5% of GDP) in 201223

Foreign Aid Outflow: N/A

References

1. Source: World Bank Indicators (Population) Go back
2. Source: World Bank Indicators (GDP) Go back
3. Source: World Bank Indicators (GDP per capita) Go back
4. Source: World Bank Indicators (GDP per capita PPP) Go back
5. Source: World Bank Indicators (GDP growth rate) Go back
6. Source: United Nations Statistics Division (GDP by industry) Go back
7. Source: World Bank Indicators (Unemployment rate) Go back
8. Source: CIA World Factbook (Employment by economic activity) Go back
9. Source: Annual reports (Corporate data) Go back
10. Source: Credit Suisse Global Wealth Databook (Household wealth) Go back
11. Source: UN Human Development Report (Gini coefficient) Go back
12. Source: CIA World Factbook (Government budget) Go back
13. Source: Ernst & Young, Worldwide Personal Tax Guide (Individual tax rates) Go back
14. Source: Ernst & Young, Worldwide Corporate Tax Guide (Corporate tax rate) Go back
15. Source: Banque Centrale de la Republique de Guinee, Statistics, Monetary Series (Money supply) Go back
16. Source: Banque Centrale de la Republique de Guinee (Benchmark interest rate) Go back
17. Source: World Bank Indicators (Total reserves) Go back
18. Source: xe.com (Exchange rate) Go back
19. Source: World Bank Indicators (Inflation rate) Go back
20. Source: Relbanks.com (Financial institutions by assets) Go back
21. Source: CIA World Factbook (Trade data) Go back
22. Source: World Bank Indicators (FDI data) Go back
23. Source: World Bank Indicators (Aid data) Go back