World Factbook

Guinea-Bissau

Republica da Guine-Bissau

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated

revenues

$269.794 million (2023 est.)

expenditures

$450.953 million (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2021

$334.904 million (2021 est.)

Exports 2022

$280.065 million (2022 est.)

Exports 2023

$284.5 million (2023 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2021

$518.162 million (2021 est.)

Imports 2022

$577.899 million (2022 est.)

Imports 2023

$592.095 million (2023 est.)

Industries

agricultural products processing, beer, soft drinks

Labor force

845,300 (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

Public debt 2016

57.9% of GDP (2016 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2021

11% of GDP (2021 est.)

Remittances 2022

10.3% of GDP (2022 est.)

Remittances 2023

9.8% of GDP (2023 est.)

Exchange rates

Currency

Communaute Financiere Africaine francs (XOF) per US dollar -

Exchange rates 2020

575.586 (2020 est.)

Exchange rates 2021

554.531 (2021 est.)

Exchange rates 2022

623.76 (2022 est.)

Exchange rates 2023

606.57 (2023 est.)

Exchange rates 2024

606.345 (2024 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$896.812 million (2023 est.)

Economic overview

extremely poor West African economy; ethnically diverse labor force; increasing government expenditures; slight inflation due to food supply disruptions; major cashew exporter; systemic banking instabilities and corruption; vulnerable to oil price shocks

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

2.7% (2022 est.)

Unemployment rate 2023

2.7% (2023 est.)

Unemployment rate 2024

2.7% (2024 est.)

Exports - partners

India 66%, Chile 9%, Cote d'Ivoire 5%, Ghana 4%, Netherlands 3% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

Senegal 28%, Portugal 24%, China 11%, Gambia, The 10%, Pakistan 4% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$2,600 (2022 est.)

Real GDP per capita 2023

$2,600 (2023 est.)

Real GDP per capita 2024

$2,700 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

5.6% (2022 est.)

Real GDP growth rate 2023

4.5% (2023 est.)

Real GDP growth rate 2024

4.8% (2024 est.)

Agricultural products

rice, groundnuts, cashews, root vegetables, oil palm fruit, plantains, cassava, coconuts, vegetables, sweet potatoes (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

coconuts/brazil nuts/cashews, fish, fish oil, processed crustaceans, malt extract (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, iron bars, rice, plastics, flavored water (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2021

-$14.128 million (2021 est.)

Current account balance 2022

-$146.64 million (2022 est.)

Current account balance 2023

-$160.169 million (2023 est.)

Taxes and other revenues

8.8% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$2.12 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

77% (2024 est.)

government consumption

17.8% (2024 est.)

investment in inventories

-1.9% (2024 est.)

investment in fixed capital

22.8% (2024 est.)

exports of goods and services

12.5% (2024 est.)

imports of goods and services

-28.2% (2024 est.)

Population below poverty line

50.5% (2021 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

9.4% (2022 est.)

Inflation rate (consumer prices) 2023

7.1% (2023 est.)

Inflation rate (consumer prices) 2024

3.8% (2024 est.)

Industrial production growth rate

8% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$5.399 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$5.64 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$5.912 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

3.4% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

2.8% (2024 est.)

female

2% (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

16.6% (2024 est.)

services

42.1% (2024 est.)

agriculture

36.8% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

3.4% (2021 est.)

highest 10%

26.1% (2021 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2021

33.4 (2021 est.)