Economy - overview:
One of the poorest countries in the world, Guinea-Bissau's legal economy depends mainly on farming and fishing, but trafficking narcotics is probably the most lucrative trade. Cashew crops have increased remarkably in recent years. Guinea-Bissau exports fish and seafood along with small amounts of peanuts, palm kernels, and timber. Rice is the major crop and staple food. However, intermittent fighting between Senegalese-backed government troops and a military junta destroyed much of the country's infrastructure and caused widespread damage to the economy in 1998; the civil war led to a 28% drop in GDP that year, with partial recovery in 1999-2002. In December 2003, the World Bank, IMF, and UNDP were forced to step in to provide emergency budgetary support in the amount of $107 million for 2004, representing over 80% of the total national budget. The combination of limited economic prospects, a weak and faction-ridden government, and favorable geography have made this West African country a way station for drugs bound for Europe.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Debt - external: Exchange rates:
NOTE: The information regarding Guinea-Bissau on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea-Bissau Economy 2011 information contained here. All suggestions for corrections of any errors about Guinea-Bissau Economy 2011 should be addressed to the CIA.
$1.769 billion (2010 est.)
country comparison to the world: 189
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$825 million (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
1.8% (2010 est.)
country comparison to the world: 157
[see also: GDP - real growth rate country ranks ]
$1,100 (2010 est.)
country comparison to the world: 211
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 62%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
12%
[see also: GDP - composition by sector - industry country ranks ]
services:
26% (1999 est.)
[see also: GDP - composition by sector - services country ranks ]
632,700 (2007)
country comparison to the world: 152
[see also: Labor force country ranks ]
agriculture: 82%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services:
18% (2000 est.)
NA%
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: 2.9%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
28% (2002)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
revenues: $NA
[see also: Budget - revenues country ranks ]
expenditures:
$NA
[see also: Budget - expenditures country ranks ]
3.8% (2007 est.)
country comparison to the world: 109
[see also: Inflation rate (consumer prices) country ranks ]
4.25% (31 December 2009)
country comparison to the world: 98
[see also: Central bank discount rate country ranks ]
NA%
[see also: Commercial bank prime lending rate country ranks ]
$192.1 million (31 December 2009)
[see also: Stock of narrow money country ranks ]
$209.3 million (31 December 2009 est.)
[see also: Stock of broad money country ranks ]
$42.56 million (31 December 2009)
country comparison to the world: 182
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
rice, corn, beans, cassava (tapioca), cashew nuts, peanuts, palm kernels, cotton; timber; fish
agricultural products processing, beer, soft drinks
4.7% (2003 est.)
country comparison to the world: 71
[see also: Industrial production growth rate country ranks ]
65 million kWh (2007 est.)
country comparison to the world: 197
[see also: Electricity - production country ranks ]
60.45 million kWh (2007 est.)
country comparison to the world: 197
[see also: Electricity - consumption country ranks ]
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 190
[see also: Oil - production country ranks ]
3,000 bbl/day (2009 est.)
country comparison to the world: 181
[see also: Oil - consumption country ranks ]
0 bbl/day (2007 est.)
country comparison to the world: 151
[see also: Oil - exports country ranks ]
2,545 bbl/day (2007 est.)
country comparison to the world: 172
[see also: Oil - imports country ranks ]
0 bbl (1 January 2010 est.)
country comparison to the world: 174
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 103
[see also: Natural gas - production country ranks ]
0 cu m (2008 est.)
country comparison to the world: 148
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 69
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 168
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 172
[see also: Natural gas - proved reserves country ranks ]
-$6 million (2007 est.)
country comparison to the world: 61
[see also: Current account balance country ranks ]
$133 million (2006)
country comparison to the world: 186
[see also: Exports country ranks ]
fish, shrimp; cashew nuts, peanuts, palm kernels, sawn lumber
India 62.21%, Nigeria 31.28%, Portugal 1.48% (2009)
$200 million (2006)
country comparison to the world: 202
[see also: Imports country ranks ]
foodstuffs, machinery and transport equipment, petroleum products
Portugal 17.33%, Senegal 13.66%, Netherlands 9.27%, India 9.11%, Thailand 5.2%, Brazil 4.49% (2009)
$941.5 million (2000 est.)
country comparison to the world: 152
[see also: Debt - external country ranks ]
Communaute Financiere Africaine francs (XOF) per US dollar - 506.04 (2009), 447.81 (2008), 493.51 (2007), 522.59 (2006)
note:
since 1 January 1999, the West African CFA franc (XOF) has been pegged to the euro at a rate of 655.957 CFA francs per euro; West African CFA franc (XOF) coins and banknotes are not accepted in countries using Central African CFA francs (XAF), and vice versa, even though the two currencies trade at par
This page was last modified 09-Feb-11