Guinea

Description of Guinea

Guinea, situated on the West African coast, is a country with a rich history and diverse cultural heritage. Known for its abundant natural resources, including bauxite, gold, and diamonds, Guinea has the potential for significant economic development. However, the country faces challenges such as political instability, high levels of poverty, and inadequate infrastructure. As Guinea seeks to navigate these hurdles and harness its resources for sustainable growth, understanding the macroeconomic factors influencing its trajectory is crucial. This website aims to provide insightful analysis of macroeconomic statistics and their implications for Guinea's development, shedding light on the country's unique position in the global landscape.

Population And Age Structure

For the attribute "Population, total," Guinea has a value of 13,205,153, which is below the average of 40,097,746. Guinea ranks 74 out of 194 countries in this category.

When considering "Population ages 0-14 (% of total population)," Guinea's value of 42.11% is above the average of 27.34%. Guinea ranks 23 out of 194 countries for this statistic.

Regarding "Population ages 0-14, total," Guinea's value of 5,560,605 is below the average of 10,327,379. Guinea ranks 66 out of 194 countries in this metric.

For "Population ages 15-64 (% of total population)," Guinea's value of 54.50% is below the average of 63.44%. Guinea ranks 174 out of 194 countries in this regard.

In terms of "Population ages 15-64, total," Guinea's value of 7,197,314 falls below the average of 26,003,407. Guinea ranks 80 out of 194 countries for this attribute.

Looking at "Population ages 65 and above (% of total population)," Guinea's value of 3.39% is below the average of 9.22%. Guinea ranks 150 out of 194 countries in this category.

Lastly, for "Population ages 65 and above, total," Guinea has a value of 447,234, which is notably below the average of 3,766,959. Guinea ranks 105 out of 194 countries for this specific metric.

Summary

Guinea has a relatively low total population compared to the global average, ranking 74th out of 194 countries. The country has a higher percentage of young individuals (ages 0-14) in its population compared to the average, ranking 23rd. However, Guinea has a lower percentage of working-age individuals (ages 15-64) and elderly individuals (ages 65 and above) compared to the global average, ranking 174th and 150th respectively. These demographic indicators are crucial as they provide insights into the country's workforce distribution, potential dependency ratios, and future social welfare needs.

Population Miscellaneous

1. The Rural Population of Guinea is 8,335,753, significantly below the attribute average of 18,044,041. Guinea ranks 66 out of 190 countries in this category.

2. Guinea's Rural Population (% of total population) is 63.125%, which is above the attribute average of 41.158%. The country ranks 39 out of 190 countries for this metric.

3. In terms of Urban Population, Guinea has 4,869,400 people, well below the average of 22,425,747. The country ranks 94 out of 194 countries in urban population.

4. Guinea's Urban Population (% of total population) stands at 36.875%, lower than the average of 59.691%. The country ranks 156 out of 194 nations in this aspect.

5. The Age Dependency Ratio (% of working-age population) in Guinea is 83.473%, higher than the average of 59.219%. Guinea ranks 21 out of 194 countries for this ratio.

6. Guinea's Crude Birth Rate is 34.944 per 1,000 people, surpassing the average of 19.384. The country ranks 18 out of 192 nations in this metric.

7. In terms of Crude Death Rate, Guinea has a rate of 9.847 per 1,000 people, slightly above the average of 8.214. Guinea ranks 45 out of 192 countries in this category.

8. Guinea's Total Fertility Rate is 4.489 births per woman, higher than the average of 2.603. The country ranks 20 out of 190 nations for this rate.

Summary

Guinea exhibits a high rural population percentage compared to its urban population, with a significant age dependency ratio and fertility rate above global averages. The country also faces higher crude birth and death rates. These indicators highlight Guinea's demographic challenges, such as a large youthful population dependent on a smaller working-age group, impacting future economic growth and social welfare policies.

Military

When it comes to Military expenditure in current USD, Guinea's value of $206,992,890.79 is significantly below the average of $12,904,993,617.17. This places Guinea at rank 110 out of 149 countries.

Regarding Military expenditure as a percentage of GDP, Guinea's value of 1.44% is below the average of 1.90%. This ranks Guinea at 80 out of 148 countries.

In terms of Armed forces personnel, Guinea has 13,000 personnel, which is below the average of 165,908.54 personnel. Guinea is ranked 122 out of 164 countries in this regard.

Lastly, for Armed forces personnel as a percentage of the total labor force, Guinea's value of 0.32% is below the average of 1.28%. This places Guinea at rank 142 out of 164 countries.

Summary

Guinea's military expenditure in current USD, as a percentage of GDP, and in terms of armed forces personnel all fall below global averages, placing the country at lower ranks internationally. These indicators are vital as they reflect Guinea's relative military strength compared to other nations, its defense capabilities, and potential security risks. The low levels of military expenditure and personnel could impact Guinea's ability to defend its borders effectively and address security challenges within the region.

Natural Resources

- The Forest area in Guinea is 61,890 sq. km, which is below the average of 211,606. Guinea ranks 68th out of 191 countries in this attribute. - Guinea's Land area is 245,720 sq. km, below the average of 665,166. Guinea ranks 77th out of 194 countries. - In terms of Surface area, Guinea has 245,860 sq. km, also below the average of 689,779. Guinea ranks 77th out of 194 countries. - Guinea has 3,100,000 hectares of Arable land, significantly below the average of 7,329,543. Guinea ranks 65th out of 190 countries. - Land under cereal production in Guinea is 3,028,055 hectares, below the average of 4,206,012. Guinea ranks 44th out of 174 countries. - The Average precipitation in depth in Guinea is 1,651 mm per year, higher than the average of 1,157. Guinea ranks 47th out of 178 countries. - Guinea's Renewable internal freshwater resources total 226 billion cubic meters, below the average of 240.41. Guinea ranks 30th out of 178 countries.

Summary

Guinea's key macroeconomic indicators show that the country has a relatively smaller forest area, land area, and arable land compared to global averages, but receives higher average precipitation depth. Despite its lower rankings in these attributes, Guinea's renewable internal freshwater resources are substantial, indicating potential for sustainable water supply. These indicators are important as they reflect Guinea's environmental characteristics, agricultural potential, and water resources, which are critical factors for the country's economic development and sustainability.

Resource Rents

Guinea's total natural resources rents account for 4.83% of its GDP, which is slightly above the average of 4.63%. This places Guinea at rank 51 out of 175 countries included in the data.

Furthermore, Guinea's forest rents represent 4.83% of its GDP, significantly surpassing the average of 1.53%. This places Guinea at rank 15 out of 174 countries included in the data.

Summary

Guinea's total natural resources rents and forest rents are both above the global averages, indicating the country's significant reliance on these resources for economic output. This places Guinea in relatively high positions compared to other countries included in the data, suggesting that these sectors play a crucial role in Guinea's economy and development.

Commodities

- Cereal production in Guinea is 4,008,358 metric tons, which is significantly below the average of 17,249,945. Guinea ranks 67th out of 174 countries in this category.
- Aquaculture production in Guinea is 1,135 metric tons, well below the average of 679,642. Guinea ranks 121st out of 180 countries.
- Guinea's Capture fisheries production is 309,570 metric tons, lower than the average of 467,453 metric tons. Guinea holds the 45th position out of 190 countries.
- Total fisheries production in Guinea is 310,705 metric tons, which is notably lower than the average of 1,153,915 metric tons. Guinea ranks 46th out of 182 countries.
- Guinea's fertilizer consumption is 6.86 kilograms per hectare of arable land, well below the average of 159.04 kilograms. Guinea ranks 166th out of 187 countries.

Summary

Guinea's agricultural and fisheries production levels are notably below global averages across various categories, indicating potential challenges in the country's food security and economic development. Additionally, the low fertilizer consumption per hectare of arable land suggests a lack of investment in agricultural productivity and efficiency, which could hinder Guinea's ability to improve crop yields and sustainability in the long term.

Intellectual Property

Guinea's Scientific and technical journal articles publication rate is 40.7, significantly below the attribute average of 15103.76. Guinea is ranked 148th out of 192 countries for this indicator.

Summary

Guinea has a low publication rate of scientific and technical journal articles at 40.7, which is well below the global average of 15103.76. This places Guinea at the 148th position out of 192 countries in terms of this indicator. This low publication rate indicates a potential lack of research and innovation in scientific fields within Guinea, which could hinder the country's overall development and competitiveness on a global scale.

Broad Economy Attributes

Guinea's GDP (current US$) is significantly below the average of $442.87 billion, ranking 124th out of 189 countries. In terms of GDP, PPP (current international $), Guinea's value is also below the average of $734.14 billion, ranking 122nd out of 181 countries.

Looking at GDP per capita (current US$), Guinea's value of $1073.66 is notably lower than the average of $15462.11, placing it at the 164th rank out of 190 countries. Similarly, Guinea's GDP per capita, PPP (current international $) of $2749.98 falls below the average of $21251.89, with a rank of 156 out of 181 countries.

Regarding GNI (current US$), Guinea's value of $12.72 billion is well below the average of $452.04 billion, ranking 125th out of 185 countries. In GNI, PPP (current international $), Guinea's value is also below the average of $730.70 billion, with a rank of 124 out of 181 countries.

Finally, in terms of GNI per capita, PPP (current international $), Guinea's value of $2470 is significantly lower than the average of $20615.75, placing it at the 160th rank out of 181 countries.

Summary

Guinea's macroeconomic indicators such as GDP, GDP per capita, GNI, and GNI per capita all fall below global averages, ranking the country relatively low compared to other nations. These statistics suggest that Guinea faces challenges in terms of economic development, income distribution, and overall standard of living for its citizens. It highlights the need for targeted economic reforms, investments, and strategies to improve Guinea's economic performance and raise the well-being of its population.

Broad Value Added

- The Gross value added at basic prices (GVA) in Guinea is $12,990,483,594.68, ranking 118th out of 176 countries. Guinea's GVA is significantly below the average of $360,070,943,595.12.
- Agriculture, forestry, and fishing value added (% of GDP) in Guinea is 26.14%, ranking 18th out of 182 countries. This value is notably higher than the average of 10.86%.
- Guinea's Agriculture, forestry, and fishing value added in current US dollars stands at $3,705,788,209.64, placing it 85th out of 182 countries. The country's value is well below the average of $19,924,732,828.07.
- Services value added (% of GDP) is 36.53% in Guinea, ranking 174th out of 183 countries and notably below the average of 56.72%.
- In terms of Services value added in current US dollars, Guinea contributes $5,178,546,285.78, ranking 136th among 183 countries. This figure is considerably lower than the average of $295,837,711,130.69.
- Guinea's Industry (including construction) value added in current US dollars is $4,017,007,000.66, placing it at the 115th position out of 183 countries. This value is substantially below the average of $118,421,095,413.50.

Summary

Guinea demonstrates a significant reliance on the agriculture, forestry, and fishing sectors, with these sectors contributing a substantial percentage to its GDP and value added in current US dollars. However, the country's services and industry sectors lag behind compared to the global average. These indicators are crucial as they highlight Guinea's economic structure, emphasizing the need for diversification and development in non-agricultural sectors to foster balanced and sustainable economic growth.

Manufacturing Value Added

For Manufacturing, value added (current US$), Guinea's value is 1,347,760,599.48. This is significantly below the attribute average of 76,207,179,589.66. Guinea ranks 119 out of 173 countries for this attribute.

Regarding Manufacturing, value added (% of GDP), Guinea's value stands at 9.51%, below the attribute average of 11.90%. The country ranks 107 out of 173 countries in this metric.

Summary

Guinea's Manufacturing value added in current US dollars is notably lower than the average among the 173 countries analyzed, positioning the country at 119th place. Additionally, Guinea's Manufacturing value added as a percentage of GDP is also below average, placing it at rank 107 globally. These indicators suggest that Guinea's manufacturing sector may be underdeveloped compared to its peers, potentially signaling challenges in economic diversification and industrial growth.

Money

Guinea's consumer price inflation stands at 10.60%, exceeding the average of 8.26%. The country ranks 15th out of 165 countries in this indicator.

Guinea's GDP deflator inflation is 4.69%, below the average of 6.90%. It ranks 51st out of 188 countries in this aspect.

With broad money growth at 22.80%, Guinea surpasses the average of 18.03%. The country holds the 19th rank out of 139 countries in this category.

Guinea's broad money as a percentage of GDP is 26.51%, significantly lower than the average of 71.75%. It ranks 127th out of 139 countries in this metric.

The broad money to total reserves ratio for Guinea is 2.51, notably lesser than the average of 5.17. The country holds the 73rd rank out of 126 countries in this aspect.

Summary

Guinea demonstrates a complex macroeconomic profile with a high consumer price inflation rate, moderate GDP deflator inflation, robust broad money growth, but low broad money as a percentage of GDP and a relatively low broad money to total reserves ratio. These statistics indicate potential challenges in maintaining price stability, managing money supply, and utilizing financial resources effectively to support economic growth and stability.

Consumption Expenditure

Final consumption expenditure (current US$): Guinea's value is significantly below the average of $381,630,252,515.38, ranking 109th out of 159 countries.

Final consumption expenditure (% of GDP): Guinea's value of 89.74% is above the average of 82.37%, ranking 45th out of 159 countries.

General government final consumption expenditure (current US$): Guinea's value is well below the average of $93,676,578,238.03, ranking 109th out of 158 countries.

General government final consumption expenditure (% of GDP): Guinea's value is lower than the average of 18.71%, ranking 81st out of 158 countries.

Household and NPISHs Final consumption expenditure (current US$): Guinea's value is significantly below the average of $290,127,571,157.69, ranking 111th out of 158 countries.

Households and NPISHs final consumption expenditure (% of GDP): Guinea's value is above the average of 63.68%, ranking 46th out of 158 countries.

Summary

Guinea's final consumption expenditure in current US dollars is notably lower than the global average, placing the country at 109th out of 159 countries. However, when considering final consumption expenditure as a percentage of GDP, Guinea surpasses the average, ranking 45th. This indicates that Guinea might be allocating a higher proportion of its economic output towards consumption compared to other countries. The distribution of expenditure between general government, households, and NPISHs also showcases Guinea's lower spending compared to the global average. These findings are crucial as they highlight the country's consumption patterns and the allocation of resources, providing insights into its economic structure and potential growth prospects.

Investment

- Foreign direct investment, net (BoP, current US$): Guinea's net foreign direct investment is at -173,990,000 USD, significantly above the average of -1,615,235,980. Guinea ranks 75 out of 169 countries in this data set.

- Foreign direct investment, net inflows (BoP, current US$): Guinea has a net inflow of 176,350,000 USD, considerably below the average of 5,749,271,080.15 USD. Guinea ranks 115 out of 182 countries in this dataset.

- Foreign direct investment, net inflows (% of GDP): Guinea's net inflows as a percentage of GDP stand at 1.24%, lower than the average of 2.61%. Guinea is ranked 108 out of 178 countries in this category.

- Foreign direct investment, net outflows (BoP, current US$): Guinea's net outflows amount to 2,360,000 USD, significantly below the average of 5,707,991,116.07 USD. In this aspect, Guinea ranks 106 out of 156 countries.

- Foreign direct investment, net outflows (% of GDP): Guinea's net outflows as a percentage of GDP are at 0.0166%, notably lower than the average of 1.0044%. Guinea is ranked 112 out of 155 countries based on this metric.

- Portfolio Investment, net (BoP, current US$): Guinea's net portfolio investment is 12,020,000 USD, significantly below the average of 679,559,169.57 USD. Guinea ranks 70 out of 159 countries in this dataset.

- Portfolio equity, net inflows (BoP, current US$): Guinea shows a net outflow of -80,000 USD in portfolio equity, considerably below the average of 9,197,145,994.70 USD. Guinea ranks 67 out of 125 countries in this category.

Summary

Guinea's foreign direct investment metrics, both in terms of net inflows and outflows, are below global averages, indicating a need for increased investor confidence and capital flow. The country's portfolio investment also falls short of the average, suggesting a limited participation in global financial markets. These indicators are crucial as they reflect Guinea's attractiveness to foreign investors, its integration into the global economy, and its ability to leverage external capital for economic growth.

Debt

- Total debt service (% of GNI): Guinea's total debt service as a percentage of Gross National Income is 1.11%, significantly lower than the average of 5.98%. Guinea ranks 104 out of 120 countries in this attribute.
- Public and publicly guaranteed debt service (% of GNI): Guinea's public and publicly guaranteed debt service as a percentage of GNI is 0.62%, below the average of 2.84%. Guinea ranks 102 out of 120 countries.
- External debt stocks (% of GNI): Guinea's external debt stocks relative to GNI stand at 32.30%, well below the average of 65.42%. Guinea is ranked 96 out of 120 countries.
- Debt service on external debt, total (TDS, current US$): Guinea's total debt service on external debt amounts to $140,566,439, significantly lower than the average of $9,811,195,839. Guinea ranks 92 out of 123 countries.
- Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): Guinea's debt service on public and publicly guaranteed external debt is $78,443,140.5, below the average of $3,310,612,057.6. Guinea ranks 94 out of 123 countries.
- External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): Guinea's external debt stocks involving public and publicly guaranteed debt amount to $3,290,676,760.1, considerably below the average of $28,695,879,144.98. Guinea ranks 84 out of 123 countries.
- External debt stocks, total (DOD, current US$): Guinea's total external debt stocks stand at $4,108,722,185.7, significantly lower than the average of $73,845,530,111.82. Guinea ranks 90 out of 123 countries.

Summary

Guinea demonstrates responsible debt management with total debt service (% of GNI) and public debt service (% of GNI) well below the global averages. The country's external debt stocks (% of GNI) are also significantly lower, showcasing fiscal prudence. This signifies Guinea's ability to sustain its debt obligations without succumbing to excessive financial strain, thereby enhancing its economic stability and credibility in the international financial market.

Broad Trade Attributes

Summary

Guinea's trade sector plays a significant role in its economy, with trade constituting a high percentage of its GDP, notably surpassing global averages. However, the country's trade in services falls below the average, impacting its overall trade balance. The negative external balance on goods and services further highlights the challenges Guinea faces in achieving trade equilibrium and sustainable economic growth.

These findings are crucial as they indicate Guinea's dependence on the export-import sector for economic activity. The disparities in trade performance compared to global averages underscore the need for Guinea to diversify its trade portfolio and enhance the competitiveness of its services sector to improve its external balance and ensure long-term economic stability.

Net Trade

Guinea's current account balance in US$ is $2.68 billion, significantly above the average of $1.44 billion, ranking 34th out of 170 countries. The current account balance as a percentage of GDP for Guinea is 18.94%, well above the average of -2.36%, ranking 4th out of 170 countries.

The net trade in goods and services for Guinea stands at $2.68 billion, slightly below the average of $2.60 billion, ranking 40th out of 171 countries. Guinea's net primary income is -$144.79 million, higher than the average of -$903.81 million, ranking 67th out of 170 countries.

Guinea's net secondary income is $147.01 million, above the average of -$269.23 million, ranking 101st out of 170 countries. The net trade in goods for Guinea is $5.20 billion, well above the average of $1.30 billion, ranking 35th out of 171 countries.

Guinea's net capital account is $147.13 million, surpassing the average of $136.54 million, ranking 58th out of 159 countries. The net financial account for Guinea is $2.83 billion, significantly above the average of -$469.84 million, ranking 32nd out of 170 countries.

Summary

Guinea has a strong current account balance, net trade in goods, and net financial account, ranking relatively high among a large group of countries. This indicates a healthy balance of trade and financial inflows for the country, reflecting positively on its economy. These indicators suggest that Guinea is attracting investments, maintaining favorable trade balances, and managing its international financial transactions effectively, which are crucial for sustainable economic growth and stability.

Broad Export Attributes

Analysis of key statistics for Guinea in comparison to global averages:

1. Exports of goods, services and primary income (BoP, current US$): Guinea's value of $9,028,570,000 is significantly below the average of $146,238,908,936.30. Guinea ranks 93 out of 170 countries in this attribute category.

2. Exports of goods and services (BoP, current US$): Guinea's value of $8,996,040,000 is notably lower than the average of $122,938,540,059.78. Guinea ranks 91 out of 170 countries in this category.

3. Exports of goods and services (current US$): Guinea's value of $6,617,433,828.59 is noticeably under the average of $129,596,864,610.19. Guinea ranks 100 out of 163 countries in this attribute.

4. Exports of goods and services (% of GDP): Guinea's percentage of 46.67% is higher than the average of 38.19%. Guinea ranks 40 out of 163 countries in this aspect.

5. Goods exports (BoP, current US$): Guinea's value of $8,931,210,000 is significantly lower than the average of $93,310,581,697.39. Guinea ranks 86 out of 171 countries in this attribute category.

6. International tourism, receipts (% of total exports): Guinea's percentage of 0.014% is significantly below the average of 9.74%. Guinea ranks 120 out of 120 countries in this particular category.

Summary

Guinea's key macroeconomic indicators for exports of goods and services paint a picture of a country with lower export values compared to global averages across various categories. The country's export values are notably below average for both goods and services, resulting in a lower ranking compared to other nations. The higher percentage of goods and services exports as a proportion of GDP indicates a relatively larger reliance on exports for Guinea's economy, highlighting the significance of expanding and diversifying its export base to improve economic resilience and competitiveness in the global market.

Merchandise Exports

Summary

Guinea's merchandise exports amount to $8,931,000,000, which is significantly below the global average of $89,542,711,229.95, ranking the country 88th out of 187 countries. Additionally, Guinea's residual value for merchandise exports, at 5.98%, surpasses the global average of 3.20%, positioning Guinea in the 20th spot out of 166 countries. These statistics indicate that Guinea has potential for growth in diversifying and expanding its export base. By increasing its merchandise exports and reducing its dependency on a few key products, Guinea can enhance its economic resilience and competitiveness on the global market.

Service Exports

Guinea's Service exports amount to $64,830,000, ranking 161 out of 171 countries. This value is significantly below the average service exports of $28,917,292,503.82.

The country's ICT service exports stand at $4,220,000, ranking 151 out of 166 countries. Guinea falls below the attribute average of $4,578,501,153.77 for ICT service exports.

Guinea's ICT service exports (% of total service exports) is 6.51%, placing it at rank 101 out of 166 countries. This percentage is below the average of 11.75%.

Communications, computer, etc. exports constitute 84.56% of Guinea's service exports, placing it at rank 9 out of 169 countries. This value is significantly above the average of 45.85%.

Transport services constitute only 0.14% of Guinea's service exports, ranking it 169 out of 169 countries. This value is significantly below the average of 21.80%.

Travel services account for 1.80% of Guinea's service exports, ranking 161 out of 167 countries. This percentage is below the average of 26.40%.

Insurance and financial services contribute 13.50% to Guinea's service exports, ranking the country at 21 out of 161 countries. Guinea's value is above the average of 6.46%.

Summary

Guinea's service exports show a significant deviation from global averages across various sectors. While the country excels in exports related to communications, computers, etc., it lags in areas such as ICT services and transport services. This disparity is crucial as it highlights Guinea's strengths and weaknesses in different service sectors, indicating potential areas for growth and development.

Commercial Service Exports

Guinea's Commercial service exports amount to $64,830,000. This is significantly below the attribute average of $28,508,218,402. Guinea ranks 161 out of 171 countries in this category.

Travel services account for 1.80% of Guinea's commercial service exports, far below the average of 27.89%. Guinea holds the 162nd rank out of 167 countries in this aspect.

Computer, communications, and other services make up 84.56% of Guinea's commercial service exports, which is notably above the average of 42.44%. Guinea ranks 7th out of 169 countries in this field.

Insurance and financial services represent 13.50% of Guinea's commercial service exports, surpassing the average of 6.97%. Guinea ranks 22nd out of 161 countries in this area.

Transport services contribute only 0.14% to Guinea's commercial service exports, significantly lower than the average of 23.37%. Guinea ranks 169th out of 169 countries in this aspect.

Summary

Guinea's commercial service exports are significantly below the global average, with a notable reliance on computer, communications, and other services. The country's low performance in travel and transport services highlights areas where potential growth and diversification opportunities exist. Addressing these deficiencies could enhance Guinea's economic resilience and competitiveness in the global market.

Broad Import Attributes

Guinea's Imports of goods and services (current US$) value of $9,692,379,045.71 is considerably below the average of $126,191,355,599.06, ranking 93 out of 163 countries.

Imports of goods and services (% of GDP) for Guinea is 68.36%, which is above the average of 44.15%, placing Guinea at rank 23 out of 163 countries.

Guinea's International tourism, expenditures (% of total imports) stands at 17.03%, significantly higher than the average of 3.98%, ranking 3 out of 131 countries.

The country's Goods imports (BoP, current US$) value of $3,727,440,000 is well below the average of $92,007,788,027.17, putting Guinea at rank 122 out of 171 countries.

With Guinea's Imports of goods and services (BoP, current US$) at $6,313,510,000, significantly lower than the average of $120,321,577,988.12, Guinea ranks 113 out of 170 countries.

Finally, Guinea's Imports of goods, services and primary income (BoP, current US$) of $6,490,830,000 is notably below the average of $144,514,428,722.28, placing Guinea at rank 118 out of 170 countries.

Summary

Guinea is a country with imports of goods and services that are consistently below global averages, ranking between 93 to 122 out of various countries. However, the country's imports as a percentage of GDP and its international tourism expenditures are relatively high, ranking 23 and 3 respectively. These statistics are important as they indicate Guinea's heavy reliance on imports for its economy, which may have implications for its trade balance, economic stability, and potential vulnerabilities to external shocks.

Merchandise Imports

In terms of Merchandise imports (current US$), Guinea's value is $3,727,000,000. This is significantly below the attribute average of $89,385,605,263. Guina ranks 129 out of 190 countries in this data set.

Guinea's Merchandise imports by the reporting economy, residual (% of total merchandise imports) stands at 0.47%, which is lower than the attribute average of 2.51%. Guinea ranks 84 out of 180 countries in this dataset.

Summary

Guinea's Merchandise imports are valued at $3,727,000,000, significantly below the global average of $89,385,605,263, positioning Guinea at 129th out of 190 countries. Additionally, the country's Merchandise imports by the reporting economy, residual (% of total merchandise imports) is 0.47%, below the average of 2.51%, placing Guinea at the 84th position among 180 countries. These indicators are crucial as they highlight Guinea's relatively lower level of international trade compared to other nations, signaling potential challenges or constraints in its economic development and integration into the global market.

Service Imports

1. Service imports (BoP, current US$): Guinea's service imports amount to $2,586,070,000, ranking 91st out of 171 countries. This value is significantly below the attribute average of $27,615,356,170.47.

2. Communications, computer, etc. (% of service imports, BoP): Guinea's percentage of service imports allocated to communications, computer, etc. is 54.19%, ranking 54th out of 169 countries. This value is higher than the attribute average of 44.40%.

3. Transport services (% of service imports, BoP): Guinea allocates 41.41% of its service imports to transport services, ranking 46th out of 169 countries. This value is above the attribute average of 32.90%.

4. Travel services (% of service imports, BoP): Guinea's allocation to travel services is only 0.16%, placing it at 168th out of 169 countries. This value is significantly below the attribute average of 14.14%.

5. Insurance and financial services (% of service imports, BoP): Guinea designates 4.23% of its service imports to insurance and financial services, ranking 116th out of 169 countries. This value is below the attribute average of 8.53%.

Summary

Guinea's service imports are relatively low compared to the global average, with a notable emphasis on communications, computer, and transport services. However, the allocation towards travel services is exceptionally low, while the percentage allocated to insurance and financial services is also below average. These indicators are crucial as they reflect Guinea's prioritization of certain service sectors over others, revealing potential areas for growth and development in its service economy.

Commercial Service Imports

Analysis of key attributes for Guinea:

1. Commercial service imports (current US$): Guinea's value of $2,585,760,000 is significantly below the average of $27,102,746,128.60. Guinea ranks 90th out of 171 countries in this attribute.

2. Computer, communications and other services (% of commercial service imports): Guinea's value of 54.19% is above the average of 41.71%. Guinea ranks 51st out of 169 countries in this attribute.

3. Insurance and financial services (% of commercial service imports): Guinea's value of 4.24% is below the average of 8.85%. Guinea ranks 120th out of 169 countries in this attribute.

4. Transport services (% of commercial service imports): Guinea's value of 41.41% is above the average of 34.71%. Guinea ranks 53rd out of 169 countries in this attribute.

5. Travel services (% of commercial service imports): Guinea's value of 0.16% is significantly below the average of 14.73%. Guinea ranks 168th out of 169 countries in this attribute.

Summary

In summary, Guinea has a low total commercial service imports compared to the global average, ranking 90th out of 171 countries. However, the country's high percentage of computer, communications, and other services in its imports positions it above average at 51st place. Conversely, Guinea's low presence in insurance and financial services as well as travel services relative to other countries could indicate areas for potential growth and development in its economy.

Infrastructure

Container port traffic in Guinea is at 250,000 TEU (20 foot equivalent units). This value is significantly below the attribute average of 6,907,110.27 TEU. Guinea is ranked 93 out of 110 countries in this statistic.

Summary

Guinea's container port traffic at 250,000 TEU is notably lower than the global average of 6,907,110.27 TEU, placing the country at the 93rd position out of 110 countries. This low volume of container port traffic indicates potential inefficiencies or limitations in Guinea's trade and logistics sector, which could hinder the country's ability to effectively participate in global trade and economic activities. Improving port infrastructure and enhancing trade facilitation measures could be vital for Guinea to boost its international trade competitiveness and attract more investments.

Information Technology Infrastructure

Guinea has 89 secure internet servers, which is significantly below the average of 458,294. With a rank of 163 out of 193 countries, Guinea lags behind in this aspect.

Guinea has 6.74 secure internet servers per 1 million people, much lower than the average of 14,067. Ranked 178 out of 193 countries, Guinea's connectivity infrastructure is well below par compared to other nations.

With 28.82% of its population using the internet, Guinea falls short of the average of 64.77%. Ranked 153 out of 180 countries, internet penetration in Guinea is below the global average.

Guinea has 1000 fixed broadband subscriptions, significantly lower than the average of 6,591,956. Ranking 180 out of 185 countries, Guinea demonstrates limited adoption of fixed broadband services.

With 13,795,000 mobile cellular subscriptions, Guinea falls below the average of 42,526,464. Ranked 71 out of 193 countries, Guinea shows relatively higher mobile connectivity compared to other telecommunications metrics.

Summary

Guinea lags behind in key connectivity indicators such as secure internet servers, secure internet servers per 1 million people, internet penetration, and fixed broadband subscriptions. However, the country shows relatively higher mobile connectivity compared to other telecommunications metrics. These findings are crucial as they highlight Guinea's limited infrastructure development in the digital realm, which could hinder its ability to fully participate in the global digital economy and innovation landscape.

Energy Consumption

Guinea's renewable energy consumption accounts for 65.77% of its total final energy consumption, significantly surpassing the average of 32.18%. This places Guinea at a rank of 32 out of 191 countries included in the data.

On the other hand, Guinea's CO2 emissions stand at 4537.9 kt, notably below the average of 171895.94 kt. Despite this, Guinea is ranked 131 out of 188 countries in terms of CO2 emissions.

Summary

Guinea demonstrates a commendable commitment to renewable energy with 65.77% of its total final energy consumption, surpassing the global average. However, its CO2 emissions are relatively low at 4537.9 kt compared to the average, yet the country ranks lower in international CO2 emission rankings. These statistics indicate Guinea's potential for sustainable development and the need for further progress to align its environmental performance with its global standing.

Government Balance Sheet

Guinea's total reserves account for 36.49% of its total external debt, ranking 51 out of 102 countries. This value is below the average of 66.13%. In terms of reserves and related items, Guinea's value of -40,429,441.34 USD is notably lower than the average of 1,924,407,186.58 USD, placing it at rank 105 out of 171 countries.

When considering Guinea's total reserves minus gold, its value of 1,245,320,957.02 USD is significantly below the average of 74,221,588,171.61 USD, ranking at 119 out of 161 countries. Furthermore, Guinea's total reserves, including gold, amount to 1,499,116,032.52 USD, also notably lower than the average of 85,708,019,773.47 USD, placing Guinea at rank 115 out of 161 countries.

Lastly, Guinea's total reserves in months of imports stand at 2.77, below the average of 7.10 months. This places Guinea at rank 118 out of 151 countries in this aspect.

Summary

Guinea's total reserves, reserves minus gold, reserves including gold, and reserves in months of imports all fall below global averages, ranking the country relatively lower among its peers. This indicates potential vulnerabilities in Guinea's ability to cover external debt, maintain stability in reserves, and ensure import sustainability. Addressing these gaps in reserves management is crucial for Guinea to strengthen its economic resilience and mitigate risks in the face of economic instability or shocks.

Taxes

1. Tariff rate, applied, weighted mean, all products (%): Guinea has a tariff rate of 12.23%, which is above the attribute average of 5.21%. Guinea ranks 11th out of 153 countries in this statistic.

Summary

Guinea's applied weighted mean tariff rate of 12.23% is significantly higher than the global average of 5.21%, positioning the country as the 11th highest out of 153 countries. This high tariff rate suggests that Guinea may be protecting its domestic industries, potentially impacting international trade relations and the cost of imported goods for consumers.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Birth rate, crude (per 1,000 people)	18/192
Forest rents (% of GDP)	15/174
Agriculture, forestry, and fishing, value added (% of GDP)	18/182
Inflation, consumer prices (annual %)	15/165
Current account balance (% of GDP)	4/170
Communications, computer, etc. (% of service exports, BoP)	9/169
Computer, communications and other services (% of commercial service exports)	7/169
International tourism, expenditures (% of total imports)	3/131
Tariff rate, applied, weighted mean, all products (%)	11/153

Ranks in Bottom Decile For:

Attribute	Rank/Total
Services, value added (% of GDP)	174/183
Broad money (% of GDP)	127/139
International tourism, receipts (% of total exports)	120/120
Service exports (BoP, current US$)	161/171
ICT service exports (BoP, current US$)	151/166
Transport services (% of service exports, BoP)	169/169
Travel services (% of service exports, BoP)	161/167
Commercial service exports (current US$)	161/171
Travel services (% of commercial service exports)	162/167
Transport services (% of commercial service exports)	169/169
Travel services (% of service imports, BoP)	168/169
Travel services (% of commercial service imports)	168/169
Secure Internet servers (per 1 million people)	178/193
Fixed broadband subscriptions	180/185