Highlights 

  • In spite of the fragile political situation in Guinea-Bissau, the country has witnessed an annual growth of more than 5% GDP since 2015, except in 2018, when a growth rate of 4.3% is forecast. 
  • The economy of Guinea-Bissau depends mainly on agriculture and fishing. The country is the sixth largest producer of cashew nuts, with a production of approximately 120,000 tons, which is the main source of foreign exchange and export of the country.
  • Member of WAEMU, since 1997, the country benefits from the fixed parity between the Euro and the CFA. Inflation remains at a low level, below 3%.
  • Owing to the suspension of aid from donors due to the political crisis, the budget deficit strongly deteriorated in 2015 and 2016. It should, however, fall back to 2.6% of GDP by 2017, below the Community threshold of 3% reflecting a timid recovery. Moreover, international aid is conditioned by progress made at the political level.
  • Guinea-Bissau, as a Member, complies with the regulatory regime of OHADA (Organization for the harmonization of business law in Africa).
  • The country has many other natural resources, such as bauxite, wood, oil, phosphate, etc. Its coastline, teeming with fish, attracts fishermen from the European Union with an average yearly catch of 500,000 tons of fish.

 

  2013 2014 2015 2016 2017 2018
GDP growth (%)    3.3 1.0 6.1 6.2 5.9 4.3
Investment rate* 6.8 8.4 4.1 4.9 6.2 5.2
Inflation rate (annual average) 0.7 -1.0 1.5 1.5 1.0 0.4
Underlying budget balance / Nominal GDP (%) -1.8 -3.2 -8.3 -5.4 -2.6 -1.5
Current balance, grants included* -5.1 0.6 2.0 1.4 -3.2 -6.4
Overall debt* 53.7 54.9 50.3 48.8 42.0 40.1

Sources : BCEAO except the debt data provided by the IMF (Regional Economic outlook report, April 2018)
* in % of GDP 

InstrumentDate of operationValue dateDeadlineAmount
(in millions of FCFA)
StatusMore