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: $154 million, per capita $160; real growth rate 5.0% (1989)

Inflation rate (consumer prices): 25% (1990 est.)

Unemployment rate: NA%

Budget: revenues $22.7 million; expenditures $30.8 million, including capital expenditures of $18.0 million (1989 est.)

Exports: $14.2 million (f.o.b., 1989 est.); commodities--cashews, fish, peanuts, palm kernels; partners--Portugal, Senegal, France, The Gambia, Netherlands, Spain

Imports: $68.9 million (f.o.b., 1989 est.); commodities--capital equipment, consumer goods, semiprocessed goods, foods, petroleum; partners--Portugal, Netherlands, Senegal, USSR, Germany

External debt: $462 million (December 1990 est.)

Industrial production: growth rate - 1.0% (1989 est.); accounts for 10% of GDP (1989 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 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

Economic aid: US commitments, including Ex-Im (FY70-89), $49 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $561 million; OPEC bilateral aid (1979-89), $41 million; Communist countries (1970-89), $68 million

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

Exchange rates: Guinea-Bissauan pesos (PG) per US$1--1987.2 (1989), 1363.6 (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 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea-Bissau Economy 1991 information contained here. All suggestions for corrections of any errors about Guinea-Bissau Economy 1991 should be addressed to the CIA.