Guinea2020 Economic Complexity : -1.64, Rank 124 of 127
2020 Product Exports | Imports: $11.6B | $4.68B, 82 of 226 | 135 of 226
2020 Per Capita Product Exports | Imports: $883 | $357, 123 of 219 | 181 of 219
2019 Service Exports | Imports : $77.7M | $809M, 108 of 108 | 97 of 108
Overview In 2020, Guinea was the number 127 economy in the world in terms of GDP (current US$), the number 82 in total exports, the number 135 in total imports, the number 178 economy in terms of GDP per capita (current US$) and the number 124 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Guinea are Gold ($8.19B), Aluminium Ore ($3.01B), Aluminium Oxide ($88.9M), Crude Petroleum ($49.5M), and Non-fillet Frozen Fish ($44.4M), exporting mostly to United Arab Emirates ($6.81B), China ($2.12B), India ($985M), Switzerland ($277M), and Belgium ($254M).
In 2020, Guinea was the world's biggest exporter of Aluminium Ore ($3.01B)
Imports The top imports of Guinea are Rice ($239M), Packaged Medicaments ($136M), Cars ($121M), Rolled Tobacco ($113M), and Motorcycles and cycles ($110M), importing mostly from China ($1.91B), India ($454M), United Arab Emirates ($264M), Netherlands ($216M), and France ($164M).
Location Guinea borders Cote d'Ivoire, Guinea-Bissau, Liberia, Mali, Senegal, and Sierra Leone by land.
The following section uses the most recent trade data from partners of Guinea.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Gold, $8.19B
Top Destination (2020): United Arab Emirates, $1.91B
In 2020, Guinea exported a total of $11.6B, making it the number 82 exporter in the world. During the last five reported years the exports of Guinea have changed by $8.98B from $2.63B in 2015 to $11.6B in 2020.
The most recent exports are led by Gold ($8.19B), Aluminium Ore ($3.01B), Aluminium Oxide ($88.9M), Crude Petroleum ($49.5M), and Non-fillet Frozen Fish ($44.4M). The most common destination for the exports of Guinea are United Arab Emirates ($6.81B), China ($2.12B), India ($985M), Switzerland ($277M), and Belgium ($254M).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
Guinea Exports Services (2019): $77.7M
Guinea Imports Services (2019): $809M
In 2019, Guinea exported $77.7M worth of services. The top services exported by Guinea in 2019 were Computer and information services ($50.6M), Other business services ($11.4M), Business travel ($9.22M), Financial services ($3.66M), and Insurance services ($1.56M).
The top services imported by Guinea in 2019 were Transportation ($417M), Other business services ($160M), Construction services ($75.6M), Computer and information services ($53.7M), and Insurance services ($50.1M).
Guinea has a high level of specialization in Aluminium Ore (791), Gold (28), Aluminium Oxide (9.81), Cocoa Beans (6.71), and Coconuts, Brazil Nuts, and Cashews (5.96). Specialization is measured using RCA, an index that takes the ratio between Guinea observed and expected exports in each product.
The highest complexity exports of Guinea according to the product complexity index (PCI) are Aluminium Oxide (-0.99), Non-fillet Frozen Fish (-1.69), Bran (-1.89), Other Oily Seeds (-2.1), and Gold (-2.26). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Guinea according to the relatedness index, are Manganese Ore (0.025), Niobium, Tantalum, Vanadium and Zirconium Ore (0.022), Palm Oil (0.021), Tin Ores (0.02), and Tapioca (0.019). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Guinea is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years Guinea's economy has become relatively less complex, moving from the nullth to the 124th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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