Economy of Guinea

Economy of Guinea
Currency	Franc (GNF)
Fiscal year	Calendar year
Trade organisations	AU, WTO
Statistics
GDP	$23.33 billion (nominal, 2023); $66.6 billion (PPP, 2024);
GDP growth	10.0% (2017) 5.8% (2018); 5.9% (2019e) 6.0% (2020f);
GDP per capita	$1910 (nominal, 2018 est.); $2,322 (PPP, 2018 est.);
Inflation (CPI)	9.826% (2018)
Human Development Index	0.465 low (2021) (182nd); 0.299 low IHDI (2021);
	All values, unless otherwise stated, are in US dollars.

The economy of Guinea is dependent largely on agriculture and other rural activities. Guinea is richly endowed with minerals, possessing an estimated quarter of the world's proven reserves of bauxite, more than 1.8 billion tonnes (2.0 billion short tons) of high-grade iron ore, significant diamond and gold deposits, and undetermined quantities of uranium. In 2021, Guinea was the world's biggest exporter of Aluminium Ore ($3.2B/ Gold $5.5B) 2021 trade surplus was $4.3B.

Guinea also has considerable potential for growth in the agricultural and fishing sectors. Land, water, and climatic conditions provide opportunities for large-scale irrigated farming and agroindustry. Remittances from Guineans living and working abroad and coffee exports account for the rest of Guinea's foreign exchanges industry.