Guinea-Bissau/Economy

Economy of Guinea-Bissau

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

Coming Soon
GDP (USD)
$2.0B(2023)
GDP PPP (USD)
$6.2B(2023)
GDP per Capita (USD)
$951(2023)
GDP Growth (inflation-adjusted)
5.2%(2023)
Inflation (CPI Annual %)
3.8%(2024)

Trade & Finance

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Exports (as share of GDP)
13.9%(2023)
Imports (as share of GDP)
28.2%(2023)
FDI Inflows (as share of GDP)
1.2%(2023)
Remittance Inflow (USD)
$206.1M(2023)
Tax Revenue (as share of GDP)
8.6%(2019)

Labor & Income

Coming Soon
Unemployment Rate
2.6%(2024)
Employment in Services
39.7%(2023)
Poverty Rate
50.5%(2021)
GINI Index
33.4(2021)
GNI per Capita (USD)
$940(2023)

Energy & Environment

Coming Soon
Energy Use per Capita
65 kg oil eq.(2007)
Renewable Energy Consumption (%)
87.4%(2022)

Economic Snapshot Overview

A summary of key economic indicators for Guinea-Bissau

  • The economic architecture of Guinea-Bissau is substantial, anchored by a Gross Domestic Product (GDP) of approximately $2.05B
    2023
    . This places it as the 173rd largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $951.24
    2023
    , while its GDP in Purchasing Power Parity (PPP) terms is estimated at $6.16B, reflecting the population's domestic purchasing power. The economy is experiencing robust expansion, with a high growth rate of 5.2%
    2023
    , while managing moderate inflation, with a CPI of 3.8%
    2024
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The nation runs a trade deficit, with exports at 13.9% of GDP and imports at 28.2%
    2023
    . Foreign Direct Investment (FDI) inflows are significant, constituting 1.16% of the economy
    2023
    . This performance positions the country 122nd globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $206.11M annually
    2023
    , highlighting the economic importance of its diaspora. The government faces fiscal constraints, with tax revenue representing only 8.6% of GDP
    2019
    .
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $940
    2023
    . Globally, this ranks the nation 171st out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The labor market is robust, with a low unemployment rate of 2.6%
    2024
    . The services sector is a primary driver of the labor market, accounting for 39.7% of total employment
    2023
    . Poverty remains a key issue, with 50.5% of the population living below the national poverty line
    2021
    . The country has a relatively equitable distribution of income, with a Gini index of 33.4
    2021
    .
  • On the environment and energy front, energy consumption per capita is 65.473 kg of oil equivalent
    2007
    . The country is a leader in clean energy, with renewable sources making up 87.4% of total final energy consumption
    2022
    . Its commitment to clean energy places it 183rd among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

The economy is in a "Goldilocks" state of strong growth, low inflation, and low unemployment, indicating robust macroeconomic health.

Trade & Investment Profile

The economy is primarily driven by domestic demand, with limited exposure to global trade fluctuations but also fewer opportunities for export-led growth.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

A strong commitment to renewable energy positions the country as a leader in the green transition, potentially creating new economic advantages.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.