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2023
Economic Complexity
Trade -2.18Rank 131 of 132
2022
Economic Complexity
Research -0.68Rank 101 of 140
2023
Product
Exports | Imports $18B | $6.74B83 of 226 |  131 of 226
2023
Per Capita Product
Exports | Imports $1.25k | $468113 of 220 |  182 of 220

About

Overview In 2023, Guinea was the number 117 economy in the world in terms of GDP (current US$), the number 83 in total exports, the number 131 in total imports, the number 166 economy in terms of GDP per capita (current US$) and the number 131 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Guinea are Gold ($9.65B), Aluminium Ore ($7.62B), Cocoa Beans ($216M), Crude Petroleum ($79.8M), and Coconuts, Brazil Nuts, and Cashews ($73.8M), exporting mostly to United Arab Emirates ($9.05B), China ($6.41B), India ($1.45B), Switzerland ($241M), and Spain ($184M).

In 2023, Guinea was the world's biggest exporter of Aluminium Ore ($7.62B)

Imports The top imports of Guinea are Refined Petroleum ($772M), Rice ($336M), Cars ($144M), Large Construction Vehicles ($140M), and Broadcasting Equipment ($137M), importing mostly from China ($2.64B), India ($637M), Netherlands ($450M), Belgium ($416M), and United Arab Emirates ($282M).

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

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Gold$9.65B
Top Destination (2023)United Arab Emirates$9.05B

In 2023, Guinea exported a total of $18B, making it the number 83 exporter in the world. During the last five reported years the exports of Guinea have changed by $11.8B from $6.18B in 2018 to $18B in 2023.

The most recent exports are led by Gold ($9.65B), Aluminium Ore ($7.62B), Cocoa Beans ($216M), Crude Petroleum ($79.8M), and Coconuts, Brazil Nuts, and Cashews ($73.8M). The most common destination for the exports of Guinea are United Arab Emirates ($9.05B), China ($6.41B), India ($1.45B), Switzerland ($241M), and Spain ($184M).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
United Arab Emirates$6.43B (+ 246%)
China$1.88B (+ 41.6%)
Netherlands$70.4M (+ 187%)
Fastest Growing Import Markets (2022 - 2023)
China$360M (+ 15.8%)
Belgium$183M (+ 78.3%)
Indonesia$92.2M (+ 280%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2019)

Service Imports (2019)

Economic Complexity

Overview

Economic Complexity (Trade)-2.18Rank 131 of 132
Economic Complexity (Research)-0.68Rank 101 of 140

Most Specialized Products by RCA Index

Guinea has a high level of specialization in Aluminium Ore (932), Cocoa Beans (27.4), Gold (21.2), Coconuts, Brazil Nuts, and Cashews (10.6), and Animal Meal and Pellets (4.42). 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

The highest complexity exports of Guinea according to the product complexity index (PCI) are Wood in the rough, whether or not stripped of bark or sapwood,... (-1.3), Fish, dried, salted or in brine; smoked fish, whether or not cooked... (-1.51), Flours, meal and pellets, of meat or meat offal, of fish or... (-1.53), Fats and oils and their fractions of fish or marine mammals; whether... (-1.91), and Natural rubber, balata, gutta-percha, guayule, chicle and similar gums; in primary forms... (-2.25). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Guinea according to the relatedness index, were Cocoa Shells (0.033), Manganese Ore (0.022), Tin Ores (0.02), Crude Petroleum (0.018), and Cassava (0.018). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Guinea is not specialized in.

Product Space

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.

Relatedness Space

This network shows the products most related to the production structure of Guinea. These are products that tend to be co-exported with the products that Guinea exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Guinea's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨nullth to the 131st⁩ 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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ECI (Trade) Ranking by Country

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