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    Guinea Economy - 1989

      Overview: Although possessing many natural resources and considerable potential for agricultural development, Guinea is one of the poorest countries in the world. The agricultural sector contributes about 40% to GDP and employs more than 80% of the work force, while industry accounts for about 25% of GDP. Guinea possesses over one-fourth of the world's bauxite reserves; exports of bauxite and alumina accounted for more than 80% of total exports in 1986.

      GDP: $1.7 billion, per capita $270; real growth rate 5.9% (1987 est.)

      Inflation rate (consumer prices): 34% (1987)

      Unemployment rate: NA%

      Budget: revenues $358.2 million; expenditures $442.8 million, including capital expenditures of $198 million (1987)

      Exports: $571 million (f.o.b., 1987); @m5commodities--alumina, bauxite, diamonds, coffee, pineapples, bananas, palm kernels; @m5partners--US 33%, EC 33%, USSR and Eastern Europe 20%, Canada

      Imports: $560 million (c.i.f., 1987); @m5commodities--petroleum products, metals, machinery, transport equipment, foodstuffs, textiles and other grain; @m5partners--US 16%, France, Brazil

      External debt: $1.6 billion (December 1988)

      Industrial production: growth rate NA%

      Electricity: 108,000 kW capacity; 243 million kWh produced, 35 kWh per capita (1988)

      Industries: bauxite mining, alumina, diamond mining, light manufacturing and agricultural processing industries

      Agriculture: cash crops--coffee, bananas, palm products, peanuts, citrus fruits, pineapples; food crops--cassava, rice, millet, corn, sweet potatoes; livestock raised in some areas

      Aid: NA

      Currency: Guinean franc (plural--francs); 1 Guinean franc (FG) = 100 centimes

      Exchange rates: Guinean francs (FG) per US$1--505.00 (October 1988), 440.00 (January 1988), 440.00 (1987), 235.63 (1986), 22.47 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Guinea on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Economy 1989 information contained here. All suggestions for corrections of any errors about Guinea Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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