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    Guinea-Bissau Economy - 1989

      Overview: Guinea-Bissau ranks among the poorest countries in the world, with a per capita GDP below $200. Agriculture and fishing are the main economic activities, with peanuts the primary export. Exploitation of known mineral deposits is unlikely at present because of a weak infrastructure and the high cost of development. The government's four-year plan (1988-91) has targeted agricultural development as the top priority.

      GDP: $168 million (1986), per capita $170; real growth rate - 0.6% (1986 est.)

      Inflation rate (consumer prices): 17% (1988)

      Unemployment rate: NA%

      Budget: revenues $60 million; expenditures $93 million, including capital expenditures of $52 million (1986)

      Exports: $16.5 million (f.o.b., 1987); @m5commodities--cashews, fish, peanuts, palm kernels; @m5partners--Portugal, Spain, Switzerland, Cape Verde, China

      Imports: $48.8 million (f.o.b., 1987); @m5commodities--capital equipment, consumer goods, semiprocessed goods, foods, petroleum; @m5partners--Portugal, USSR, EC countries, other Europe, Senegal, US

      External debt: $340 million (December 1988)

      Industrial production: growth rate - 1.7% (1986 est.)

      Electricity: 22,000 kW capacity; 28 million kWh produced, 30 kWh per capita (1988)

      Industries: agricultural processing, beer, soft drinks

      Agriculture: rice, palm products, root crops, coconuts, peanuts, wood

      Aid: NA

      Currency: Guinea-Bissauan peso (plural--pesos); 1 Guinea-Bissauan peso (PG) = 100 centavos

      Exchange rates: Guinea-Bissauan pesos (PG) per US$1--649.2 pesos (September 1988), 851.65 (1987), 238.98 (1986), 173.61 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Guinea-Bissau 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-Bissau Economy 1989 information contained here. All suggestions for corrections of any errors about Guinea-Bissau Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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