unbekannter Gast

Guinea-Bissau: Economy#

Guinea-Bissau's legal economy is based on farming and fishing, but trafficking in narcotics is probably the most lucrative economic activity. 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. Cashew nuts are the main source of income for rural communities and the country's main export crop. Cashew sector performance helps to determine the overall macroeconomic situation of the country and food security status of rural areas. In 2013 cashew production and exports were disrupted as a result of the March 2012 coup. Guinea-Bissau is heavily reliant on foreign aid, which has not recovered to pre-coup levels.

Economic Facts#

GDP (purchasing power parity)$2.005 billion (2013 est.)
$1.937 billion (2012 est.)
$1.965 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate3.5% (2013 est.)
-1.5% (2012 est.)
5.3% (2011 est.)
GDP - per capita (PPP)$1,200 (2013 est.)
$1,200 (2012 est.)
$1,300 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 58%
industry: 13.5%
services: 28.5% (2013 est.)
Population below poverty lineNA%
Household income or consumption by percentage sharelowest 10%: 2.9%
highest 10%: 28% (2002)
Labor force - by occupationagriculture: 82%
industry and services: 18% (2000 est.)
Exports - commoditiesfish, shrimp; cashew nuts, peanuts, palm kernels, sawn lumber
Exports - partnersIndia 56.5%, Nigeria 27.1%, Togo 5.9% (2012)
Agriculture - productsrice, corn, beans, cassava (manioc, tapioca), cashew nuts, peanuts, palm kernels, cotton; timber; fish
Budgetrevenues: $142 million
expenditures: $157.7 million (2013 est.)
Imports - commoditiesfoodstuffs, machinery and transport equipment, petroleum products
Imports - partnersPortugal 28.8%, Senegal 17.5%, US 7.3%, China 5% (2012)
Exchange ratesCommunaute Financiere Africaine francs (XOF) per US dollar -
500.7 (2013 est.)
510.53 (2012 est.)
495.28 (2010 est.)
472.19 (2009)
447.81 (2008)
Exports$147.6 million (2013 est.)
$127.9 million (2012 est.)
Debt - external$1.095 billion (31 December 2010 est.)
$941.5 million (31 December 2000 est.)
Fiscal yearcalendar year
Imports$206.4 million (2013 est.)
$189.8 million (2012 est.)
Industrial production growth rate1.2% (2013 est.)
Industriesagricultural products processing, beer, soft drinks
Inflation rate (consumer prices)1.9% (2013 est.)
2.1% (2012 est.)
Labor force632,700 (2007)
Unemployment rateNA%
Current account balance-$47.3 million (2013 est.)
-$47.4 million (2012 est.)
GDP (official exchange rate)$880 million (2013 est.)
Market value of publicly traded shares$NA
Central bank discount rate4.25% (31 December 2009)
4.75% (31 December 2008)
Commercial bank prime lending rate15% (31 December 2013 est.)
15% (31 December 2012 est.)
Stock of domestic credit$173.3 million (31 December 2013 est.)
$171.8 million (31 December 2012 est.)
Stock of narrow money$242.8 million (31 December 2013 est.)
$264.9 million (31 December 2012 est.)
Stock of broad money$338.1 million (31 December 2013 est.)
$327.5 million (31 December 2012 est.)
Taxes and other revenues16.1% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-1.8% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 81.3%
government consumption: 13%
investment in fixed capital: 12.9%
investment in inventories: 0%
exports of goods and services: 25.5%
imports of goods and services: -32.7%
(2013 est.)