Includes historical data for Guinea’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.
Resource-Rich Economy Hobbled By Political Instability
Guinea enjoys a wealth of natural resources and arable land, with abundant rainfall and geographic conditions favoring hydroelectric and renewable energy production. Guinea holds a third of the world’s bauxite reserves, accounting for more than half of its current exports. The country also possesses largely untapped reserves of gold, diamond, uranium and oil. Yet, it remains one of the poorest nations in West Africa.
Political instability, persistent corruption and fiscal mismanagement, a lack of skilled labor and infrastructure deficits hinder broad-based economic productivity, growth and innovation. Additionally, the country’s dependence on Chinese demand, which absorbs over 80% of Guinean bauxite exports, makes it vulnerable to external economic shifts. Ethnic tensions and the influx of refugees from Liberia and Sierra Leone exacerbate the country’s struggles.
Macroeconomy & Sovereign Data
| Type of Government | Presidential republic |
|---|---|
| Capital | Conakry |
| Sovereign Ratings |
S&P: Not rated Moody’s: Not rated Fitch: Not rated |
| Total Population | 15.4 million |
| Median Age | 18.2 |
| Adult Per Capita Income (PPP) | 5,587.09 |
| Total GDP (2023) | 25.4 billion |
Guinea GDP & Economic Overview
Most Recent Content
Guinea
Awards
BEST BANKS 2014: AFRICA
Capital Raising & Corporate Finance
ANNUAL SURVEY: WORLD’S BEST BANKS 2014
Economics, Policy & Regulation
Cover: Emerging Markets ElectionsBanking & Finance
Trade & Investment
| Total Exports | USD 7.1 billion (2023) |
|---|---|
| Leading Exports |
Gold Aluminum Ores And Oxide Iron Ores Cocoa Beans Cashews Frozen Fish |
| Total Imports | USD 11.5 billion (2022) |
| Leading Imports |
Rice Refined Petroleum Packaged Medicines Delivery Trucks Cars |
| Source: | World Integrated Trade Solution |
Guinea Leading Companies
| Compagnie Des Bauxites De Kindia | Materials, Metals & Mining |
|---|---|
| Alumina Company of Guinea | Materials, Metals & Mining |
| Société Minière De Boké | Materials, Metals & Mining |
| Guinea Oil Palm and Rubber Company | Materials, Food Products, Chemicals |
| Electricité De Guinée | Utilities |
| Office De La Poste Guinéenne | Transportation & Logistics |
Major Trade Partners — Import
| China | 17% |
|---|---|
| United Arab Emirates | 13% |
| Netherlands | 13% |
| India | 8% |
| France | 7% |
Source: World Integrated Trade Solution
Major Trade Partners — Export
| United Arab Emirates | 28% |
|---|---|
| Ghana | 15% |
| India | 9% |
| Switzerland | 8% |
| France | 6% |
Source: World Integrated Trade Solution
Global Finance Rankings & Awards
Data Sources:
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