Guinea-Bissau Economy 1997

Economy - overview Guinea-Bissau ranks among the poorest countries in the world. Farmingand fishing are the main economic activities. Cashew nuts, peanuts, palm kernels, and fish are the primary exports. Exploitation of known mineral depositsis unlikely at present because of a weak infrastructure and the high costof development. Although Guinea-Bissau won an IMF Enhanced Structural AdjustmentFacility in 1996, recent political instability and overspending have underminedthe progress of economic reform and delayed disbursements of donor aid.

GDP purchasing power parity - $1.1 billion (1996 est.)

GDP - real growth rate 4% (1996 est.)

GDP - per capita purchasing power parity - $950 (1996 est.)

GDP - composition by sector
agriculture : 44%
industry: 8%
services: 48% (1994 est.)

Inflation rate - consumer price index 45.4% (1995)

Labor force NA

Unemployment rate NA%

Budget
revenues : $NA
expenditures: $NA, including capital expenditures of $NA

Industries agricultural products processing, beer, soft drinks

Industrial production growth rate NA%

Electricity - capacity 22,000 kW (1991)

Electricity - production 30 million kWh (1991)

Electricity - consumption per capita 29 kWh (1991 est.)

Agriculture - products rice, corn, beans, cassava (tapioca), cashew nuts, peanuts, palm kernels,cotton; fishing and forest potential not fully exploited

Exports
total value: $33 million (f.o.b., 1994)
commodities: cashews 95%, fish, peanuts, palm kernels, sawn lumber (1994)
partners: Spain 35%, India 30%, Thailand 10%, Italy 10% (1995)

Imports
total value : $52.4 million (f.o.b., 1994)
commodities: foodstuffs, transport equipment, petroleum products, machinery and equipment(1994)
partners: Thailand 27%, Portugal 23%, Japan 6%, Cote d'Ivoire 7% (1995)

Debt - external $816 million (1994 est.)

Economic aid
recipient: ODA, $NA

Currency 1 Guinea-Bissauan peso (PG) = 100 centavos

Exchange rates Guinea-Bissauan pesos (PG) per US$1 - 33,910 (December 1996), 26,373(1996), 18,073 (1995), 12,892 (1994), 10,082 (1993), 6,934 (1992)

Fiscal year calendar year

NOTE: The information regarding Guinea-Bissau on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea-Bissau Economy 1997 information contained here. All suggestions for corrections of any errors about Guinea-Bissau Economy 1997 should be addressed to the CIA.