Flag Guinea

Econ Complexity (2018): -1.76, Rank 135 of 137

Product Exports (2018): $5.77B, Rank 107 of 222

Exports Per Capita (2018): $465, Rank 17 of 219

Product Imports (2018): $4.26B, Rank 138 of 221

Imports Per Capita (2018): $344, Rank 30 of 219

Service Exports (2013): $98.2M, Rank 171 of 183

Service Imports (2013): $694M, Rank 142 of 181

GDP (2018): $10.9B, CURRENT US$
Rank 140 of 196

GDP growth (2008 - 2018): 56.6%, CURRENT US$
Rank 72 of 196

GDP PC (2018): $879, CURRENT US$
Rank 175 of 196

GDP PC GROWTH (2008 - 2018): 22.9%, CURRENT US$
Rank 100 of 196

Overview: In 2018 Guinea was the number 140 economy in the world in terms of GDP (current US$), the number 107 in total exports, the number 138 in total imports, and the number 135 most complex economy according to the Economic Complexity Index (ECI). In 2018, Guinea exported $5.77B and imported $4.26B, resulting in a positive trade balance of $1.5B. In 2018, Guinea's exports per capita were $465 and its imports per capita were $344.

Trade: The top exports of Guinea are Gold ($2.79B), Aluminium Ore ($2.53B), Petroleum Gas ($99.4M), Aluminium Oxide ($70.8M), and Non-fillet Frozen Fish ($42.7M). The top imports of Guinea are Rice ($308M), Refined Petroleum ($302M), Packaged Medicaments ($133M), Rolled Tobacco ($119M), and Rubber Footwear ($90M).

Destinations: Guinea exports mostly to United Arab Emirates ($2.3B), China ($1.94B), India ($394M), Spain ($152M), and Ireland ($132M), and imports mostly from China ($1.31B), India ($406M), Netherlands ($331M), Belgium-Luxembourg ($294M), and United Arab Emirates ($231M).

Location: Guinea borders Cote d'Ivoire, Guinea-Bissau, Liberia, Mali, Senegal, and Sierra Leone by land.

Product Exports

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Value
Depth

Top Export (2018): Gold, $2.79B

Top Destination (2018): United Arab Emirates, $2.3B

In 2018 Guinea exported a total of $5.77B, making it the number 107 exporter in the world. During the last five reported years the exports of Guinea have changed by $3.3B from $2.47B in 2013 to $5.77B in 2018.

The most recent exports are led by Gold ($2.79B), Aluminium Ore ($2.53B), Petroleum Gas ($99.4M), Aluminium Oxide ($70.8M), and Non-fillet Frozen Fish ($42.7M). The most common destination for the exports of Guinea are United Arab Emirates ($2.3B), China ($1.94B), India ($394M), Spain ($152M), and Ireland ($132M).

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Product Imports

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Value
Depth

Top Import (2018): Rice, $308M

Top Origin (2018): China, $1.31B

In 2018 Guinea imported $4.26B, making it the number 138 trade destination in the world. During the last five reported years the imports of Guinea changed by $658M from $3.61B in 2013 to $4.26B in 2018.

The most recent imports of Guinea are led by Rice ($308M), Refined Petroleum ($302M), Packaged Medicaments ($133M), Rolled Tobacco ($119M), and Rubber Footwear ($90M). The most common import partners for Guinea are China ($1.31B), India ($406M), Netherlands ($331M), Belgium-Luxembourg ($294M), and United Arab Emirates ($231M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Guinea Exports Services (2013): $98.2M

Guinea Imports Services (2013): $694M

In 2013, Guinea exported $98.2M worth of services. The top services exported by Guinea in 2013 were Telecommunications services ($63.6M), Audiovisual and related services ($12.2M), Sea transport ($8.27M), Miscellaneous business, professional, and technical services ($8.09M), and Government services, n.i.e. ($3.2M).

The top services imported by Guinea in 2013 were Sea transport ($258M), Miscellaneous business, professional, and technical services ($185M), Government services, n.i.e. ($77.9M), Insurance services ($47.8M), and Personal travel ($39M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Guinea. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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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.

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*The tariffs applied to imports for Guinea are:
136: Most Favoured Nation duty rate treatement
323: Preferential tariff for UEMOA (French: Union Economique et Monétaire Ouest-Africaine)

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 13 years Guinea's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨113th to the 135th⁩ 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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Most Specialized Products by RCA Index

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Guinea has a high level of specialization in Aluminium Ore (1.59k), Gold (29.2), Coconuts, Brazil Nuts, and Cashews (13.6), Aluminium Oxide (11.6), and Rubber (5.61). Specialization is measured using RCA, an index that takes the ratio between Guinea observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Guinea according to the product complexity index (PCI) are Knotted netting of twine, etc, fishing and other nets (-0.44), Ferrous waste or scrap, ingots or iron or steel (-0.54), Aluminium waste or scrap (-0.97), Aluminium oxide, hydroxide and artificial corundum (-1.08), and Apples, pears and quinces, fresh (-1.1). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Guinea according to the relatedness index, are Crude Petroleum (0.051), Crustaceans (0.042), Tropical Fruits (0.04), Raw Cotton (0.04), and Manganese Ore (0.039). 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 it is currently specialized in.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.