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Guinea
Introduction
Key Economic Facts
Guinea is a country in Western Africa bordering Cote
d'Ivoire, Guinea-Bissau, Liberia, Mali, Senegal, Sierra
Leone, and the Northern Atlantic Ocean. The government
system is a republic; the chief of state is
the general, and the head of government
is the prime minister. Guinea is a member
of the Economic Community of West
African States (ECOWAS).
Income Level (by per capita
GNI):
Level of Development:
GDP, PPP (current international
$):
GDP growth (annual %):
GDP per capita, PPP (current
international $):
External debt stocks, total
(DOD, current US$):
Manufacturing, value added (%
of GDP):
Current account balance (BoP,
current US$):
Inflation, consumer prices
(annual %):
Labor force, total:
Unemployment, total (% of
total labor force) (modeled ILO
estimate):
Imports of goods and services
(current US$):
Exports of goods and services
(current US$):
Location:
Capital City:
Chief of State:
Head of Govt.:
Currency:
Major Languages:
Primary Religions:
Western Africa
Conakry (GMT)
President Alpha Condé
Prime Minister Mamady Youla
Guinean franc (GNF)
French (official)
Muslim 86.7%, Christian 8.9%,
animist/other/none 4.4%
Calling Code: 224
Voltage: 220
Key Websites
Risk Assessment (Provided by Coface)
Low Income
Developing
$15.24 billion (2015)
0.10% (2015)
$1,208.99 (2015)
$1,389,380,000.00 (2015)
6.74% (2015)
-$1.16 billion (2013)
8.13% (2016)
6,138,235 (2016)
6.85% (2016)
$3.44 billion (2015)
$1.80 billion (2015)
GDP Composition %
Agriculture
Industry
Manufacturing
Services
Country rating: D - A high-risk political and economic
situation and an often very difficult business environment
can have a very significant impact on corporate payment
behavior. Corporate default probability is very high.
Business Climate rating: D - The business environment is
very difficult. Corporate financial information is rarely
available and when available usually unreliable. The legal
system makes debt collection very unpredictable. The
institutional framework has very serious weaknesses.
Intercompany transactions can thus be very difficult to
manage in the highly risky environments rated D.
Strengths
• One third of the world's bauxite reserves
• Still largely unexploited deposits of iron, gold,
diamonds, uranium, and oil
• Considerable hydroelectric potential
Weaknesses
• Dependence on mining outputs and energy prices
• Lack of infrastructures especially in the electricity
sector
• Difficult business climate
U.S. Embassy
20
43
37
7
*Although Manufacturing is included in the Industry figures, it is also separately
reported because it plays a critical role in economy.
Rankings
Index
Corruption Perceptions Index
Index of Economic Freedom
International Logistics Performance Index (LPI)
Inward FDI Potential Index
KOF Index of Globalization
Networked Readiness Index (NRI)
Rank
142 / 176
169 / 180
129 / 160
130 / 139
139 / 187
134 / 139
American Embassy Conakry
P.O. Box 603
Transversale No. 2
Centre Administratif de Koloma
Commune de Ratoma
Conakry, Republic of Guinea
Tel: +224-655-104-000
http://conakry.usembassy.gov/
Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV