Economy of Guinea

In spite of its important potential resources, the Guinean economy remained very fragile and dependant on the Bauxite and agriculture. GDP progressed regularly between 1965 and 1980, with a growth rate of 3,5%, to go down to 0,9% between 1980 and 1986, and to start again with a rate of 4,1% per annum between 1987 and 1990.

Trade

Currency: the Guinean franc (GNF).
GNP (1998): 3,8 billion $.
PNB/habitant: 540 $.
Budget (1997): receipts, 629 billion GNF; expenditure, 755 billion GNF.
Foreign debt (1997): 3,52 billion $.
Importations (is. 1998): 560 million $ (of which capital equipment and of consumption; suppliers: France, 20%, the United States, 12%, Ivory Coast, Japan, the Benelux countries).
Exportations (is. 1998): 695 million (of which bauxite, 57%, alumina, 14%, diamonds, but; towards the United States, 27%, France, 10%, Spain, Ireland).

Resources

Exports represented, in 1988, 548 million US$ including 93% for the mining products, and the remainder for the agricultural produce, mainly the Café (17 million US$). The food product imports relate to mainly the Riz, the flour of corn, oil and sugar.

Agriculture and forest: 22% of the GDP in 1998.
Food crops (1998): rice, 700.000 tons; Manioc, 745.000 T; bananas plantains, 430.000 T; sweet potatoes, 135.000 tons; Fonio, 118.000 T; Corn, 81.000 T.
commercial Cultures: seeds of palm, 790.000 T; Citrus fruits S, 230.000 T; Banana S, 150.000 T; Groundnut S, 146.000 T; mango S, 85.000 T; Pineapple, 72.000 T.
Wood (1997): 170.000 m3.
Livestock: 2,3 million Bovine S, 820.000 Caprine S, 670.000 Ovine S.
Fishing (1996): 69.000 T.
Mines and industries: 35% of the GDP in 1998. Mining reserves (1997): bauxite (2/3 of world reserves, 1st rank), iron (15 billion T.), diamonds, but. Productions (1997): bauxite, 13,6 million tons (2nd world rank); diamonds, 380.000 carats; however, 9,9 tons; starts again projects of exploitation of the iron of Nimba. Agribusiness industries, textiles, industry of wood, manufacture of alumina (448 000 T. in 1997), cement factory.

Electricity (1996): 525 million kWh; startup of the new stopping and the power station of Garafiri in 1999.
Tourism: 99.000 tourists reported 6 million $ in 1998.

Communications

Air transport: National company Air Guinea; International airport of Conakry-Gbessia (288 000 passengers in 1998).
principal Port of Conakry, commercial port of Benty, port ore tanker of Kamsar (bauxite);
662 km of railroad;
19000 km of roads, including 10% bituminized.

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