Current account balance in Guinea
Guinea: Current account balance was -1.6% in 2024. ◆ Volatile
Current account balance in Guinea, 1986–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Guinea recorded -1.6% for current account balance in 2024.
The figure is down 118.5% on the previous year and up 86.0% over ten years.
Over the whole period, current account balance in Guinea peaked at 27.2% in 2021 and was at its lowest, -31.9%, in 2016.
Guinea ranks 102nd of 199 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance in Guinea, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1986 | -4.3% | — |
| 1987 | -1.3% | -69.8% |
| 1988 | -6.4% | +395.9% |
| 1989 | -5.1% | -20.5% |
| 1990 | -5.2% | +3.0% |
| 1991 | -6.6% | +25.9% |
| 1992 | -5.5% | -16.5% |
| 1993 | -1.2% | -78.3% |
| 1994 | -5.0% | +323.2% |
| 1995 | -4.0% | -20.0% |
| 1996 | -3.1% | -21.8% |
| 1997 | -1.7% | -47.5% |
| 1998 | -3.0% | +78.8% |
| 1999 | -4.0% | +34.9% |
| 2000 | -3.2% | -19.5% |
| 2001 | -1.4% | -55.0% |
| 2002 | -4.6% | +221.7% |
| 2003 | -3.7% | -20.6% |
| 2004 | -3.1% | -16.9% |
| 2005 | -3.7% | +22.2% |
| 2006 | -5.2% | +40.1% |
| 2007 | -7.2% | +38.0% |
| 2008 | -6.3% | -13.0% |
| 2009 | -6.0% | -4.6% |
| 2010 | -4.8% | -20.6% |
| 2011 | -17.1% | +258.9% |
| 2012 | -13.6% | -20.6% |
| 2013 | -14.2% | +4.5% |
| 2014 | -11.2% | -21.3% |
| 2015 | -11.6% | +3.7% |
| 2016 | -31.9% | +175.3% |
| 2017 | 5.0% | -115.8% |
| 2018 | -1.6% | -131.9% |
| 2019 | -2.3% | +45.7% |
| 2020 | 19.1% | -914.2% |
| 2021 | 27.2% | +42.6% |
| 2022 | 16.8% | -38.1% |
| 2023 | 8.5% | -49.6% |
| 2024 | -1.6% | -118.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | -4.2% | -6.4% | -1.3% | 4 |
| 1990s | -3.9% | -6.6% | -1.2% | 10 |
| 2000s | -4.5% | -7.2% | -1.4% | 10 |
| 2010s | -10.3% | -31.9% | 5.0% | 10 |
| 2020s | 14.0% | -1.6% | 27.2% | 5 |
Countries ranked near Guinea
More economy & growth data for Guinea
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 3.36 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 5.64 Percent per annum (2029)
- Industry (including construction), value added (constant 2015 US$) 10.77 % change on previous year (2025)
- Industry (including construction), value added (constant 2015 US$) 0.2054 constant 2015 US$ per US$ of GDP (2025)
- Industry (including construction), value added (constant 2015 US$) 385.57 constant 2015 US$ per person (2025)
- Industry (including construction), value added (constant LCU), annual 10.77 % change on previous year (2025)
- Industry (including construction), value added (constant LCU), per 1,171 constant LCU per US$ of GDP (2025)
- Industry (including construction), value added (constant LCU), per 2.20 million constant LCU per person (2025)
- Services, value added (current US$), annual growth rate 11.43 % change on previous year (2025)
- Services, value added (current US$), per unit of GDP 0.3573 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is current account balance in Guinea?
- Current account balance in Guinea was -1.6% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Guinea?
- The highest recorded value was 27.2% in 2021.
- What is the lowest current account balance recorded in Guinea?
- The lowest recorded value was -31.9% in 2016.
- How does Guinea rank for current account balance?
- Guinea ranks 102nd out of 199 countries with data for 2024.
- Is current account balance rising or falling in Guinea?
- Over the last ten years it is up 86.0%. The long-run trend across the full record is volatile.
- Where does this Guinea data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.