Guinea2019 Economic Complexity : -1.67, Rank 142 of 146
2019 Product Exports | Imports: $6.08B | $4.41B, 108 of 225 | 139 of 225
2019 Per Capita Product Exports | Imports: $476 | $345, N/A of N/A | N/A of N/A
2019 Service Exports | Imports : $77.7M | $809M, 68 of 69 | 61 of 69
Overview In 2019 Guinea was the number 136 economy in the world in terms of GDP (current US$), the number 108 in total exports, the number 139 in total imports, the number N/A economy in terms of GDP per capita (current US$) and the number 142 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Guinea are Gold ($2.83B), Aluminium Ore ($2.82B), Aluminium Oxide ($91.2M), Non-fillet Frozen Fish ($47.1M), and Coconuts, Brazil Nuts, and Cashews ($45.3M), exporting mostly to United Arab Emirates ($2.36B), China ($2.16B), India ($379M), Belgium ($255M), and Spain ($197M).
In 2019, Guinea was the world's biggest exporter of Aluminium Ore ($2.82B)
Imports The top imports of Guinea are Rice ($189M), Refined Petroleum ($149M), Packaged Medicaments ($136M), Delivery Trucks ($110M), and Cars ($110M), importing mostly from China ($1.72B), India ($351M), Netherlands ($250M), Belgium ($229M), and United Arab Emirates ($224M).
Location Guinea borders Cote d'Ivoire, Guinea-Bissau, Liberia, Mali, Senegal, and Sierra Leone by land.
Top Export (2019): Gold, $2.83B
Top Destination (2019): United Arab Emirates, $2.36B
In 2019, Guinea exported a total of $6.08B, making it the number 108 exporter in the world. During the last five reported years the exports of Guinea have changed by $2.77B from $3.31B in 2014 to $6.08B in 2019.
The most recent exports are led by Gold ($2.83B), Aluminium Ore ($2.82B), Aluminium Oxide ($91.2M), Non-fillet Frozen Fish ($47.1M), and Coconuts, Brazil Nuts, and Cashews ($45.3M). The most common destination for the exports of Guinea are United Arab Emirates ($2.36B), China ($2.16B), India ($379M), Belgium ($255M), and Spain ($197M).
In 2019 Guinea imported $4.41B, making it the number 139 trade destination in the world. During the last five reported years the imports of Guinea changed by $362M from $4.04B in 2014 to $4.41B in 2019.
The most recent imports of Guinea are led by Rice ($189M), Refined Petroleum ($149M), Packaged Medicaments ($136M), Delivery Trucks ($110M), and Cars ($110M). The most common import partners for Guinea are China ($1.72B), India ($351M), Netherlands ($250M), Belgium ($229M), and United Arab Emirates ($224M).
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).
The top product import tariffs by their MFN Ad Valorem value for Guinea are Birds' eggs, in shell: fresh, not for incubation, of fowls of the species Gallus domesticus (domestic hens) (35%) and Birds' eggs, in shell: fresh, not for incubation, other than fowls of the species Gallus domesticus (domestic hens) (35%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Guinea are:
Guinea has a high level of specialization in Aluminium Ore (1.48k), Gold (24.8), Aluminium Oxide (15.7), Coconuts, Brazil Nuts, and Cashews (15), and Cocoa Beans (8.65). 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 Railway maintenance-of-way service vehicles (-0.65), Ferrous waste or scrap, ingots or iron or steel (-0.8), Apples, pears and quinces, fresh (-0.92), Aluminium waste or scrap (-0.95), and Aluminium oxide, hydroxide and artificial corundum (-1.03). 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 Crude Petroleum (0.031), Manganese Ore (0.03), Niobium, Tantalum, Vanadium and Zirconium Ore (0.027), Tropical Fruits (0.026), and Crustaceans (0.025). 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 17 years Guinea's economy has become relatively less complex, moving from the 101st to the 142nd 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.