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2022
Economic Complexity
Trade -2.2Rank 132 of 133
2022
Economic Complexity
Research -0.33Rank 70 of 135
2022
Product
Exports | Imports $10.4B | $6.11B101 of 226 |  136 of 226
2022
Per Capita Product
Exports | Imports $747 | $441127 of 220 |  188 of 220

About

Overview In 2022, Guinea was the number 112 economy in the world in terms of GDP (current US$), the number 101 in total exports, the number 136 in total imports, the number 157 economy in terms of GDP per capita (current US$) and the number 132 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Guinea are Gold ($5.23B), Aluminium Ore ($4.65B), Coconuts, Brazil Nuts, and Cashews ($99.6M), Cocoa Beans ($71.6M), and Non-fillet Frozen Fish ($42.3M), exporting mostly to China ($3.81B), India ($2.77B), United Arab Emirates ($2.59B), Switzerland ($347M), and Spain ($211M).

In 2022, Guinea was the world's biggest exporter of Aluminium Ore ($4.65B)

Imports The top imports of Guinea are Refined Petroleum ($797M), Rice ($301M), Wheat ($123M), Rolled Tobacco ($119M), and Motorcycles and cycles ($118M), importing mostly from China ($2.28B), India ($594M), Netherlands ($472M), United Arab Emirates ($254M), and Belgium ($233M).

Location Guinea borders Cote d'Ivoire, Guinea-Bissau, Liberia, Mali, Senegal, and Sierra Leone by land.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Guinea.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Gold$5.23B
Top Destination (2022)China$3.81B

In 2022, Guinea exported a total of $10.4B, making it the number 101 exporter in the world. During the last five reported years the exports of Guinea have changed by $4.53B from $5.82B in 2017 to $10.4B in 2022.

The most recent exports are led by Gold ($5.23B), Aluminium Ore ($4.65B), Coconuts, Brazil Nuts, and Cashews ($99.6M), Cocoa Beans ($71.6M), and Non-fillet Frozen Fish ($42.3M). The most common destination for the exports of Guinea are China ($3.81B), India ($2.77B), United Arab Emirates ($2.59B), Switzerland ($347M), and Spain ($211M).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
China$1.43B (+ 60.1%)
Switzerland$106M (+ 44.2%)
Germany$50M (+ 51.6%)
Fastest Growing Import Markets (2021 - 2022)
Netherlands$347M (+ 279%)
China$162M (+ 7.62%)
Greece$158M (+ 12.8k%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Guinea Exports Services (2019)$77.7M
Guinea Imports Services (2019)$809M

In 2019, Guinea exported $77.7M worth of services. The top services exported by Guinea in 2019 were Computer and information services ($50.6M), Other business services ($11.4M), Business travel ($9.22M), Financial services ($3.66M), and Insurance services ($1.56M).

The top services imported by Guinea in 2019 were Transportation ($417M), Other business services ($160M), Construction services ($75.6M), Computer and information services ($53.7M), and Insurance services ($50.1M).

Service Exports (2019)

Service Imports (2019)

Economic Complexity

Overview

Economic Complexity (Trade)-2.2Rank 132 of 133
Economic Complexity (Research)-0.33Rank 70 of 135

Most Specialized Products by RCA Index

Guinea has a high level of specialization in Aluminium Ore (1.47k), Gold (25), Coconuts, Brazil Nuts, and Cashews (21.9), Cocoa Beans (19.8), and Rubber (3.64). Specialization is measured using RCA, an index that takes the ratio between Guinea observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Guinea according to the product complexity index (PCI) are Aluminium; waste and scrap (-0.72), Copper; waste and scrap (-0.98), Waste and scrap of primary cells, primary batteries and electric accumulators; spent... (-1.09), Fish, dried, salted or in brine; smoked fish, whether or not cooked... (-1.46), and Fats and oils and their fractions of fish or marine mammals; whether... (-1.46). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Guinea according to the relatedness index, were Cocoa Shells (0.043), Crustaceans (0.033), Crude Petroleum (0.032), Manganese Ore (0.031), and Coconut Oil (0.031). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Guinea is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Guinea. These are products that tend to be co-exported with the products that Guinea exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

Filter
Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Guinea's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨nullth to the 132nd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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