Economy — Guinea-Bissau
GDP, employment, industries, public finance, and currency.
Profile updated 2026-06-02
⚡ Economy at a glance
GDP, employment, industries, public finance, and currency. Key figure for Guinea-Bissau: 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 co…
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Economic overview
- Economic 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.
- Industries
Agricultural products processing, beer, soft drinks
- GDP - per capita (PPP)
$1,500.00 (USD)
- GDP - real growth rate
4.7%
GDP & growth
- GDP - Gross Domestic Product (PPP)
$3,640,000,000 (USD)
- GDP Per Capita
$1,500.00 (USD)
- GDP - real growth rate
4.7%
- GDP - official exchange rate
$1,035,000,000 (USD)
- GDP - composition, by end use
- Household consumption: 93.2%
- Government consumption: 12.5%
- Investment in fixed capital: 5.5%
- Investment in inventories: 0.1%
- Exports of goods and services: 18.3%
- Imports of goods and services: -29.6%
- GDP by Sector- agriculture
44.7%
- GDP by Sector- Industry
13.4%
- GDP by Sector- services
41.9%
- Industrial Growth Rate
4.7%
Prices & money
- Inflation Rate
3.8%
- Currency Name and Code
Guinea-Bissau Peso (GWP) and CFA Franc BCEAO (XOF)
- Fiscal Year
Calendar year
- Commercial Bank Prime Lending Rate
15%
Employment & labor
- Labor Force
632,700
- Major Industries
Agricultural products processing, beer, soft drinks
- Agriculture Products
- Rice, corn, beans, cassava (tapioca), cashew nuts, peanuts, palm kernels, cotton
- timber
- fish
- Child Labor - # of children ages 5-14
226,316
- Child Labor - % of children ages 5-14
57%
Public finance
- Annual Budget
$0 (USD)
- Budget Surplus or Deficit - percent of GDP
-1.8%
- Taxes and other revenues - percent of GDP
16.1%