Guinea-Bissau's GDP changed from approximately $289M in 1980 to $2B 151M in 2024, showing an overall 644.3% sharply increased during the period.
The lowest GDP was recorded in 1980 at $289M, and the highest in 2024 at $2B 151M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 4.7%.
For comparison, the average annual growth rate of Senegal was 4.9%, and that of Cape Verde was 6.7%.
Overview of Guinea-Bissau's GDP (1980–2024)
The Gross Domestic Product (GDP) of Guinea-Bissau recorded a 644.3% sharply increased from 1980 to 2024.
The average GDP during this period was $851M 288K, and the median was $704M.
GDP fluctuated within a range of $1B 862M, with a standard deviation of $479M 566K.
The average annual change was $31M 957K.
Guinea-Bissau GDP from 1980 to 2024
The total market value of goods and services produced annually in Guinea-Bissau.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
Highest and Lowest GDP Records
- Lowest GDP: 1980, $289M
- Highest GDP: 2024, $2B 151M
- Most Recent GDP: 2024, $2B 151M
Notable Annual GDP Changes
- 1995: Significant increase in GDP
- 1994: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Guinea-Bissau's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $1B 487M → $1B 523M
- Outcome: increased
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $753M → $889M
- Outcome: sharply increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $392M → $413M
- Outcome: increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $704M → $592M
- Outcome: sharply declined
Key Economic Indicators of Guinea-Bissau (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 289M | $ 370.19 | $ 561.78 | $ 439M | 0 % | -21.099 % | 0 % | 0 % | 782,000 people |
1981 | $ 370M | $ 463.69 | $ 599.29 | $ 478M | -0.498 % | -10.401 % | 0 % | 0 % | 798,000 people |
1982 | $ 421M | $ 516.55 | $ 649.41 | $ 529M | 4.2 % | -18.884 % | 0 % | 0 % | 815,000 people |
1983 | $ 475M | $ 570.68 | $ 638.49 | $ 531M | -3.4 % | -15.161 % | 0 % | 0 % | 832,000 people |
1984 | $ 330M | $ 388.70 | $ 683.56 | $ 581M | 5.5 % | -19.834 % | 0 % | 0 % | 850,000 people |
1985 | $ 485M | $ 559.37 | $ 720.37 | $ 625M | 4.3 % | -15.622 % | 0 % | 0 % | 867,000 people |
1986 | $ 474M | $ 534.91 | $ 712.56 | $ 631M | -1 % | -10.533 % | 0 % | 0 % | 886,000 people |
1987 | $ 401M | $ 444.50 | $ 756.36 | $ 683M | 5.6 % | -11.237 % | 0 % | 0 % | 903,000 people |
1988 | $ 374M | $ 406.03 | $ 782.75 | $ 721M | 1.958 % | -14.922 % | 0 % | 0 % | 921,000 people |
1989 | $ 449M | $ 478.38 | $ 820.67 | $ 771M | 2.925 % | -17.844 % | 0 % | 0 % | 940,000 people |
1990 | $ 548M | $ 571.82 | $ 872.71 | $ 837M | 4.58 % | -8.263 % | 0 % | 0 % | 959,000 people |
1991 | $ 772M | $ 787.21 | $ 946.64 | $ 928M | 7.305 % | -9.77 % | 0 % | 2.805 % | 980,000 people |
1992 | $ 846M | $ 843.60 | $ 976.03 | $ 979M | 3.095 % | -11.467 % | 0 % | 0.81 % | 1M 2K people |
1993 | $ 653M | $ 636.88 | $ 999.29 | $ 1B 24M | 2.276 % | -9.492 % | 0 % | 1.596 % | 1M 24K people |
1994 | $ 361M | $ 344.12 | $ 1,027.76 | $ 1B 77M | 2.963 % | -12.734 % | 0 % | -2.69 % | 1M 48K people |
1995 | $ 778M | $ 725.82 | $ 1,067.63 | $ 1B 144M | 4.016 % | -4.523 % | 0 % | 4.229 % | 1M 72K people |
1996 | $ 741M | $ 676.10 | $ 1,103.49 | $ 1B 209M | 3.747 % | -6.004 % | 0 % | 5.411 % | 1M 95K people |
1997 | $ 704M | $ 628.44 | $ 1,164.23 | $ 1B 303M | 5.994 % | -4.676 % | 49.25 % | -0.445 % | 1M 119K people |
1998 | $ 592M | $ 517.66 | $ 893.57 | $ 1B 22M | -22.446 % | -3.556 % | 27.05 % | -3.574 % | 1M 144K people |
1999 | $ 580M | $ 496.41 | $ 1,036.14 | $ 1B 211M | 16.815 % | -2.192 % | 19.75 % | -1.598 % | 1M 169K people |
