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Guinea-Bissau Economy 1996
Guinea-Bissau ranks among the poorest countries in the world. Agriculture
and fishing are the main economic activities. Cashew nuts, peanuts, and palm
kernels are the primary exports. Exploitation of known mineral deposits is
unlikely at present because of a weak infrastructure and the high cost of
development. With IMF support the country is committed to an economic reform
program emphasizing monetary stability and private sector growth. This
process will continue at a slow pace because of a heavy foreign debt burden
and internal constraints.
GDP - purchasing power parity - $900 million (1993 est.)
-
National product real growth rate:
-
National product per capita:
-
Inflation rate (consumer prices):
$44.8 million, including capital expenditures of $570,000 (1991 est.)
$19 million (f.o.b., 1993)
cashews, fish, peanuts, palm kernels
Portugal, Spain, Senegal, India, Nigeria
$56 million (f.o.b., 1993)
foodstuffs, transport equipment, petroleum products, machinery and equipment
Portugal, Netherlands, China, Germany, Senegal
$462 million (December 1990 est.)
growth rate NA (1991 est.); accounts for 8% of GDP
agricultural processing, beer, soft drinks
accounts for over 45% of GDP, nearly 100% of exports, and 90% of employment;
rice is the staple food; other crops include corn, beans, cassava, cashew
nuts, peanuts, palm kernels, and cotton; not self-sufficient in food;
fishing and forestry potential not fully exploited
US commitments, including Ex-Im (FY70-89), $49 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $615 million; OPEC
bilateral aid (1979-89), $41 million; Communist countries (1970-89), $68
million
1 Guinea-Bissauan peso (PG) = 100 centavos
Guinea-Bissauan pesos (PG) per US$1 - 14,482 (December 1994), 12,892 (1994),
10,082 (1993), 6,934 (1992), 3,659 (1991), 2,185 (1990)
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