Economy - overview:
Guinea-Bissau is highly dependent on subsistence agriculture, cashew nut exports, and foreign assistance. Two out of three Bissau-Guineans remain below the absolute poverty line. The legal economy is based on cashews and fishing. Illegal logging and trafficking in narcotics also play significant roles. The combination of limited economic prospects, weak institutions, and favorable geography have made this West African country a way station for drugs bound for Europe.

Guinea-Bissau has substantial potential for development of mineral resources, including phosphates, bauxite, and mineral sands. Offshore oil and gas exploration has begun. The country’s climate and soil make it feasible to grow a wide range of cash crops, fruit, vegetables, and tubers; however, cashews generate more than 80% of export receipts and are the main source of income for many rural communities.

The government was deposed in August 2015, and since then, a political stalemate has resulted in weak governance and reduced donor support.

The country is participating in a three-year, IMF extended credit facility program that was suspended because of a planned bank bailout. The program was renewed in 2017, but the major donors of direct budget support (the EU, World Bank, and African Development Bank) have halted their programs indefinitely. Diversification of the economy remains a key policy goal, but Guinea-Bissau’s poor infrastructure and business climate will constrain this effort.

GDP (purchasing power parity):
$3.171 billion (2017 est.)
$2.994 billion (2016 est.)
$2.817 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 188
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.35 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.9% (2017 est.)
6.3% (2016 est.)
6.1% (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 36
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$1,900 (2017 est.)
$1,800 (2016 est.)
$1,700 (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 212
[see also: GDP - per capita country ranks ]

Gross national saving:
8.6% of GDP (2017 est.)
10.1% of GDP (2016 est.)
10.5% of GDP (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 168
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 83.9% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 12% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 4.1% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.2% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 26.4% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -26.5% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 50% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 13.1% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 36.9% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
rice, corn, beans, cassava (manioc, tapioca), cashew nuts, peanuts, palm kernels, cotton; timber; fish

Industries:
agricultural products processing, beer, soft drinks

Industrial production growth rate:
2.5% (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 117
[see also: Industrial production growth rate country ranks ]

Labor force:
731,300 (2013 est.)
country comparison to the world (CIA rank, may be based on non-current data): 151
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 82%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 18% (2000 est.)

Unemployment rate:
NA
[see also: Unemployment rate country ranks ]

Population below poverty line:
67% (2015 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
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 ]

Budget:
revenues: 246.2 million (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 263.5 million (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
18.2% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 162
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.3% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 86
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
53.9% of GDP (2017 est.)
57.9% of GDP (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 87
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.1% (2017 est.)
1.5% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 60
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2009)
4.75% (31 December 2008)
country comparison to the world (CIA rank, may be based on non-current data): 94
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
5.5% (31 December 2017 est.)
5.3% (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 134
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$583.6 million (31 December 2017 est.)
$489.2 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 166
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$583.6 million (31 December 2017 est.)
$489.2 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 170
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$250.3 million (31 December 2017 est.)
$232.4 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 182
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$27 million (2017 est.)
$16 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 75
[see also: Current account balance country ranks ]

Exports:
$328.1 million (2017 est.)
$278.6 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 184
[see also: Exports country ranks ]

Exports - partners:
India 67.1%, Vietnam 21.1% (2017)

Exports - commodities:
fish, shrimp; cashews, peanuts, palm kernels, raw and sawn lumber

Imports:
$283.5 million (2017 est.)
$136.5 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 206
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, machinery and transport equipment, petroleum products

Imports - partners:
Portugal 47.8%, Senegal 12.1%, China 10.4%, Netherlands 8.1%, Pakistan 5.4% (2017)

Reserves of foreign exchange and gold:
$356.4 million (31 December 2017 est.)
$349.4 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 163
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.095 billion (31 December 2010 est.)
$941.5 million (31 December 2000 est.)
country comparison to the world (CIA rank, may be based on non-current data): 164
[see also: Debt - external country ranks ]

Exchange rates:
Communaute Financiere Africaine francs (XOF) per US dollar -
605.3 (2017 est.)
593.01 (2016 est.)
593.01 (2015 est.)
591.45 (2014 est.)
494.42 (2013 est.)