Country Information - Guinea

ECONOMIC BACKGROUND Note: Guinea was suspended from AGOA at the end of 2009. Guinea possesses major mineral, hydropower, and agricultural resources, yet remains an underdeveloped nation. The country possesses over 30% of the world's bauxite reserves and is the second largest bauxite producer. The mining sector accounted for about 75% of exports in 1999. Long-run improvements in government fiscal arrangements, literacy, and the legal framework are needed if the country is to move out of poverty. The government made encouraging progress in budget management in 1997-99, and reform progress was praised in the World Bank/IMF October 2000 assessment. However, escalating fighting along the Sierra Leonean and Liberian borders has caused major economic disruptions. In addition to direct defense costs, the violence has led to a sharp decline in investor confidence. Foreign mining companies have reduced expatriate staff, while panic buying has created food shortages and inflation in local markets. Multilateral aid - including Heavily Indebted Poor Countries (HIPC) debt relief - and single digit inflation should permit 5% growth in 2002. Click here for Country Map [23kB]

BI-LATERAL TRADE OVERVIEW Note: Guinea was suspended from AGOA at the end of 2009. The value of Guinea's bi-lateral trade with the United States has declined slightly in recent years. While exports to the U.S., in $ terms, have decreased, imports have remained fairly constant. In 2002, Guinea recorded a slight trade surplus with the U.S. amounting to $ 8,7 million (2001: 14,5 million). A large proportion of Guinea's exports to the U.S. fall into the 'minerals and metals' category, while a small part consisted of 'agricultural products'. There are indications that total trade flows between the two countries will decline further for the full year 2002. To date, no (non-GSP) exports of products added under AGOA have taken place. Detailed bilateral trade data for this country, disaggregated by industry sector, can be accessed by following the link below. Aggregate data featuring all AGOA-eligible countries is updated on this website as soon as new data is published, including ranked AGOA / non-AGOA trade, aggregate trade by industry sector as well as the latest apparel trade data. Click here for Detailed Trade Profile