1996)
embassy : Rue KA 038, Conakry
mailing address: B. P. 603, Conakry
telephone: [224] 41 15 20, 41 15 21, 41 15 23
FAX: [224] 41 15 22

Flag description: three equal vertical bands of red (hoist side),
yellow, and green; uses the popular pan-African colors of Ethiopia;
similar to the flag of Rwanda, which has a large black letter R
centered in the yellow band

Economy

Economy - overview: Although possessing major mineral, hydropower, and
agricultural resources, Guinea remains one of the poorest countries in
the world. The agricultural sector employs 80% of the work force.
Guinea possesses over 25% of the world's bauxite reserves and is the
second largest bauxite producer. The mining sector accounted for about
75% of exports in 1995. Long run improvements in government fiscal
arrangements, literacy, and the legal framework are needed if the
country is to move out of poverty. Except in the mining industry,
foreign investment remains minimal.

GDP: purchasing power parity - $7.1 billion (1996 est.)

GDP - real growth rate: 6% (1996 est.)

GDP - per capita: purchasing power parity - $950 (1996 est.)

GDP - composition by sector:
agriculture: 24%
industry: 31%
services: 45% (1995 est.)

Inflation rate - consumer price index: 5.1% (1995 est.)

Labor force:
total: 2.4 million (1983)
by occupation: agriculture 80.0%, industry and commerce 11.0%,
services 5.4%, civil service 3.6%

Unemployment rate: NA%

Budget:
revenues: $519 million
expenditures: $947 million, including capital expenditures of $NA
(1995 est.)

Industries: bauxite, gold, diamonds; alumina refining; light
manufacturing and agricultural processing industries

Industrial production growth rate: 3.2% (1994)

Electricity - capacity: 113,000 kW (1995)

Electricity - production: 300 million kWh (1995)

Electricity - consumption per capita: 40 kWh (1991 est.)

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

Exports:
total value: $725 million (1995 est.)
commodities: bauxite, alumina, diamonds, gold, coffee, fish,
agricultural products
partners : Belgium-Luxembourg 27%, US 15%, Ireland 10%, Spain 10%
(1994)

Imports:
total value: $775 million (1995 est.)
commodities: petroleum products, metals, machinery, transport
equipment, textiles, grain and other foodstuffs
partners: France 20%, Cote d'Ivoire 16%, US 7%, Belgium-Luxembourg 7%,
Hong Kon