Guinea/

Guinea is a poor country that possesses major mineral, hydropower, and agricultural resources. The country has almost half of the world’s bauxite reserves. The mining sector accounts for more than 70% of exports. Long-run improvements in the management of the economy, literacy, and the legal framework are needed if the country is to move out of poverty. Investor confidence has been sapped by rampant corruption, a lack of electricity and other infrastructure, a lack of skilled workers, and the political uncertainty resulting from the death of President Lansana CONTE in December 2008. International donors, including the G-8, the IMF, and the World Bank, cut their development programming significantly in response to the coup, and international partners have said that a resumption of aid will be contingent on a successful democratic transition with a democratically elected president and a functioning National Assembly. Growth rose slightly in 2006-08, primarily due to increases in global demand and commodity prices on world markets, but bauxite and alumina exports were negatively affected by the global economic downturn and the economy in 2009 contracted. International investors expressed renewed interest in Guinea’s iron ore mines in 2010.

$10.6 billion (2010 est.)

$10.3 billion (2009 est.)

$10.67 billion (2008 est.)

$4.344 billion (2010 est.)

3% (2010 est.)

-3.5% (2009 est.)

4.7% (2008 est.)

$1,000 (2010 est.)

$1,000 (2009 est.)

$1,100 (2008 est.)

4.392 million (2007 est.)

NA% est.)

47% (2006 est.)

38.1 (2006)

40.3 (1994)

14.6% of GDP (2010 est.)

15% (2010 est.)

9% (2009 est.)

NA% (31 December 2009)

22.25% (31 December 2005)

NA% (31 December 2008)

$496.2 million (31 December 2010 est)

$459.7 million (31 December 2009 est)

$830 million (31 December 2010 est.)

$761.9 million (31 December 2009 est.)

$734.4 million (31 December 2010 est.)

$674.2 million (31 December 2009 est.)

$NA

rice, coffee, pineapples, palm kernels, cassava (tapioca), bananas, sweet potatoes; cattle, sheep, goats; timber

bauxite, gold, diamonds, iron; alumina refining; light manufacturing, and agricultural processing

3% (2010 est.)

850 million kWh

790.5 million kWh (2007 est.)

0 kWh (2008 est.)

0 kWh (2008 est.)

0 bbl/day (2009 est.)

9,000 bbl/day (2009 est.)

0 bbl/day (2007 est.)

8,674 bbl/day (2007 est.)

0 bbl (1 January 2010 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (1 January 2010 est.)

-$434 million (2010 est.)

-$538 million (2009 est.)

$1.468 billion (2010 est.)

$1.18 billion (2009 est.)

bauxite, alumina, gold, diamonds, coffee, fish, agricultural products

India 19.68%, Spain 13.18%, Russia 7.24%, Germany 6.86%, Ireland 5.87%, US 5.71%, Ukraine 5.6% (2009)

$1.551 billion (2010 est.)

$1.236 billion (2009 est.)

petroleum products, metals, machinery, transport equipment, textiles, grain and other foodstuffs

China 8.67%, Netherlands 6.67%, France 4.33%, UK 4.22% (2009)

$NA (31 December 2010 est.)

$51 million (31 December 2009 est.)

$3.072 billion (31 December 2009 est.)

$3.222 billion (31 December 2008 est.)

Guinean francs (GNF) per US dollar - 6,100 (2010), 5,500 (2009), 5,500 (2008), 4,122.8 (2007), 5,350 (2006)