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    Guinea-Bissau Economy - 1990

      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 cashew nuts, peanuts, and palm kernels the primary exports. 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: $152 million, per capita $160 (1988); real growth rate 5.6% (1987)

      Inflation rate (consumer prices): NA%

      Unemployment rate: NA%

      Budget: revenues $20 million; expenditures $25 million, including capital expenditures of $NA (1987)

      Exports: $15 million (f.o.b., 1987); commodities--cashews, fish, peanuts, palm kernels; partners--Portugal, Spain, Switzerland, Cape Verde, China

      Imports: $49 million (f.o.b., 1987); commodities--capital equipment, consumer goods, semiprocessed goods, foods, petroleum; partners--Portugal, USSR, EC countries, other Europe, Senegal, US

      External debt: $465 million (December 1989 est.)

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

      Electricity: 22,000 kW capacity; 28 million kWh produced, 30 kWh per capita (1989)

      Industries: agricultural processing, beer, soft drinks

      Agriculture: accounts for over 50% of GDP, nearly 100% of exports, and 80% 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

      Aid: US commitments, including Ex-Im (FY70-88), $46 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $519 million; OPEC bilateral aid (1979-89), $41 million; Communist countries (1970-88), $68 million

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

      Exchange rates: Guinea-Bissauan pesos (PG) per US$1--650 pesos (December 1989), NA (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 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea-Bissau Economy 1990 information contained here. All suggestions for corrections of any errors about Guinea-Bissau Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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