Guinea Economic Statistics and Indicators

20, Sep 2020, EDT. Welcome to the Guinea economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Guinea › Change country
National or Regional Currency: Ekwele, GQE
Year of data: 2015 › Change year
Number of Indicators Listed: 35
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 11,474,383 (July 2014 est.)
Area: total: 245,857 sq km ; land: 245,717 sq km ; water: 140 sq km
Natural Resources: bauxite, iron ore, diamonds, gold, uranium, hydropower, fish, salt
Capital: name: Conakry ; geographic coordinates: 9 30 N, 13 42 W ; time difference: UTC 0 (5 hours ahead of Washington, DC, during Standard Time)

Guinea is a poor country that possesses major mineral, hydropower, solar power, and agricultural resources. Guinea has historically been an exporter of agricultural commodities, but in recent years has shifted to importing the majority of food crops. Bauxite is Guinea’s main mineral resource as well as its main source of foreign currency. Guinea is the second largest producer of bauxite in the world and has the largest reserves of bauxite, estimated at 29 billion tons. The country also has significant iron ore, gold, and diamond reserves. However, Guinea has been unable to profit from this potential, as rampant corruption, dilapidated infrastructure, and political uncertainty have drained investor confidence. In the time since a 2008 coup following the death of long-term President Lansana CONTE, international donors, including the G-8, the IMF, and the World Bank, significantly curtailed their development programs but, following the December 2010 presidential elections, the IMF approved a new 3-year ECF arrangement in 2012. Guinea in September 2012 reached HIPC completion point status. Further international assistance and investment are contingent on the ability of the government to be transparent, combat corruption, reform its banking system, improve its business environment, and build infrastructure. International investors have expressed keen interest in Guinea's vast iron ore reserves, which could propel the country's growth. The government in April 2013 amended the September 2011 mining code to reduce taxes and royalties. Longer range plans to deploy broadband Internet throughout the country could spur economic growth as well. The biggest threats to Guinea’s economy are political instability and low international commodity prices.
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GDP (Constant Prices, National Currency) for Guinea in year 2015 is GQE 8,959.27 Billion.

GDP Growth (Constant Prices, National Currency) for Guinea in year 2015 is 0.145 %.

GDP (Current Prices, National Currency) for Guinea in year 2015 is GQE 50,146.65 Billion.

GDP (Current Prices, US Dollars) for Guinea in year 2015 is US$ 6.696 Billion.

GDP Deflator for Guinea in year 2015 is 559.718 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Guinea in year 2015 is GQE 725,735.24 .

GDP Per Capita (Current Prices, National Currency) for Guinea in year 2015 is GQE 4,062,068.77 .

GDP Per Capita (Current Prices, US Dollars) for Guinea in year 2015 is US$ 542.417 .

GDP (PPP), US Dollars for Guinea in year 2015 is US$ 14.982 Billion.

GDP Per Capita (PPP), US Dollars for Guinea in year 2015 is US$ 1,213.63 .

GDP Share of World Total (PPP) for Guinea in year 2015 is 0.013 %.

Implied PPP Conversion Rate for Guinea in year 2015 is 3,347.05 .

Investment (% of GDP) for Guinea in year 2015 is 10.15 %.

Gross National Savings (% of GDP) for Guinea in year 2015 is -12.296 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Guinea in year 2015 is 1,311.76 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Guinea in year 2015 is 8.151 %.

Inflation, End of Year (Indexed to Year 2000) for Guinea in year 2015 is 1,349.53 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Guinea in year 2015 is 7.324 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Guinea in year 2015 is 7.605 %.

Import Volumes of Goods Only (Percent Change) for Guinea in year 2015 is 16.506 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Guinea in year 2015 is -1.521 %.

Export Volumes of Goods Only (Percent Change) for Guinea in year 2015 is -1.776 %.

Population for Guinea in year 2015 is 12.345 Million .

General government revenue (National Currency) for Guinea in year 2015 is GQE 9,749.32 Billions.

General government revenue (% of GDP) for Guinea in year 2015 is 19.442 %.

General government total expenditure (National Currency) for Guinea in year 2015 is GQE 14,286.08 Billions.

General government total expenditure (% of GDP) for Guinea in year 2015 is 28.489 %.

Total Government Net Lending/ Borrowing (National Currency) for Guinea in year 2015 is GQE -4,536.76 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Guinea in year 2015 is -9.047 %.

Fiscal Year Gross Domestic Product, Current Prices for Guinea in year 2015 is GQE 50,146.65 Billions.

Current Account Balance (US Dollars) for Guinea in year 2015 is US$ -1.503 Billion.

Current Account Balance (% GDP) for Guinea in year 2015 is -22.446 %.