Economy of Guinea Bissau

Economy of Guinea Bissau

Gross Domestic Product 2012

GDP (purchasing power parity): $1.902 billion

GDP real growth rate: -2.8% (2012 est.)

GDP per capita (PPP): $1,100

GDP Composition by Sector 2012

Agriculture: 56.3%

Industry: 13.1%

Services: 30.7%

Currency: CFA Franc

Inflation: 1%

Business Languages

The commercial languages include the following;

  • Portuguese
  • Criolo

Transport

The key means of transport in Guinea Bissau include; Roads which cover 4,400 kilometres, Waterways with several rivers which are accessible to coastal shipping and air transport with modern international airport

Energy

The main energy resources in the country comprise of fuel wood, petroleum products, electricity and liquefied petroleum gas. The use of biomass is also on the increase though confined to agricultural waste such as saw dust, groundnut shells and straw.

Challenges in Guinea Bissau

  • Poor health and poverty in the country
  • Weak government which undermine human development
  • Insecurity in the country

About The Author

John Muhaise-Bikalemesa (JMB), is the founder of Muhaise.com blog and bigdrumassociates.com company. Learn more about him here and connect with him on his social medias below

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