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.
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.
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.
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).
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.
*The tariffs applied to imports for Guinea are:136: Most Favoured Nation duty rate treatement323: Preferential tariff for UEMOA (French: Union Economique et Monétaire Ouest-Africaine)
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.
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.
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.
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.
Guinea
