Economy of Guinea

Economy of Guinea
Currency	Franc (GNF)
Fiscal year	Calendar year
Trade organisations	AU, WTO
Statistics
GDP	$23.33 billion (nominal, 2023); $30.864 billion (PPP, 2018);
GDP growth	10.0% (2017) 5.8% (2018); 5.9% (2019e) 6.0% (2020f);
GDP per capita	$1910 (nominal, 2018 est.); $2,322 (PPP, 2018 est.);
Inflation (CPI)	9.826% (2018)
Human Development Index	0.465 low (2021) (182nd); 0.299 low IHDI (2021);
	All values, unless otherwise stated, are in US dollars.

The economy of Guinea is dependent largely on agriculture and other rural activities.^[5] Guinea is richly endowed with good minerals, possessing an estimated quarter of the world's proven reserves of bauxite,^[6] more than 1.8 billion tonnes (2.0 billion short tons) of high-grade iron ore, significant diamond and gold deposits, and undetermined quantities of uranium. In 2021, Guinea was the world's biggest exporter of Aluminium Ore ($3.2B/ Gold $5.5B) 2021 trade surplus was $4.3B.

Guinea also has considerable potential for growth in the agricultural and fishing sectors. Land, water, and climatic conditions provide opportunities for large-scale irrigated farming and agroindustry. Remittances from Guineans living and working abroad and coffee exports account for the rest of Guinea's foreign exchanges industry.

^ ^a ^b ^c ^d ^e "World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved 22 January 2020.
^ "Global Economic Prospects, January 2020 : Slow Growth, Policy Challenges" (PDF). openknowledge.worldbank.org. World Bank. p. 147. Retrieved 22 January 2020.
^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 22 November 2022.
^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 22 November 2022.
^ "Guinea". Retrieved 27 October 2019.
^ "Bauxite and alumina" (PDF), Mineral Resources Program, U.S. Geological Survey, January 2009, archived (PDF) from the original on 9 May 2009

[IMFWEOGQ-1] "World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved 22 January 2020.

[World_Bank-2] "Global Economic Prospects, January 2020 : Slow Growth, Policy Challenges" (PDF). openknowledge.worldbank.org. World Bank. p. 147. Retrieved 22 January 2020.

[3] "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 22 November 2022.

[4] "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 22 November 2022.

[Britannica-5] "Guinea". Retrieved 27 October 2019.

[6] "Bauxite and alumina" (PDF), Mineral Resources Program, U.S. Geological Survey, January 2009, archived (PDF) from the original on 9 May 2009

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