Agriculture
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. Possibilities for investment and commercial activities exist in all these areas, but Guinea's poorly developed infrastructure continues to present obstacles to investment projects.
GDP: purchasing power parity - $19.5 billion (2004 est.)
GDP - real growth rate: 1% (2004 est.)
GDP - per capita: purchasing power parity - $2,100 (2004 est.)
GDP - composition by sector:
agriculture: 25%
industry: 38.2%
services: 36.8% (2004 est.)
Population below poverty line: 40% (2002 est.)
Household income or consumption by percentage share:
lowest 10%: 2.6% (1994)
highest 10%: 32% (1994)
Inflation rate (consumer prices): 18% (2004 est.)
Labor force: 3 million (1999)
Labor force - by occupation: agriculture 80%, industry and services 20% (2000 est.)
Unemployment rate: NA%
Ease of Doing Business Rank 179th
Budget:
revenues: $382.7 million
expenditures: $711.4 million, including capital expenditures of NA (2004 est.)
Industries: bauxite, gold, diamonds; alumina refining; light manufacturing and agricultural processing industries
Industrial production growth rate: 3.2% (1994)
Electricity - production: 855 GWh (2002)
Electricity - production by source:
fossil fuel: 63.55%
hydro: 36.45%
nuclear: 0%
other: 0% (1998)
Electricity - consumption: 795.2 GWh (1998)
Electricity - exports: 0 kWh (1998)
Electricity - imports: 0 kWh (1998)
Agriculture - products: rice, coffee, pineapples, palm kernels, cassava (tapioca), bananas, sweet potatoes; cattle, sheep, goats; timber
Exports: $709.2 million f.o.b. (2004 est.)
Exports - commodities: bauxite, alumina, gold, diamonds, coffee, fish, agricultural products
Exports - partners: South Korea 15.6%, Russia 13.1%, Spain 12.3%, Ireland 9.1%, United States 7.5%, Ukraine 5.6%, Belgium 5.2% (2004)
Imports: $641.5 million f.o.b. (2004 est.)
Imports - commodities: petroleum products, metals, machinery, transport equipment, textiles, grain and other foodstuffs (1997)
Imports - partners: Côte d'Ivoire 15.5%, France 9%, Belgium 6.1%, the People's Republic of China 6%, South Africa (2004)
Debt - external: $3.25 billion (2001 est.)
Economic aid - recipient: $359.2 million (1998)
Currency: 1 Guinean franc (GNF) = 100 centimes
Read more about this topic: Economy Of Guinea
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