Skip to content

Economy of Guinea-Bissau vs Hungary compared: GDP & Debt

Updated on by Georank team

Guinea-Bissau has a GDP of $2.22B compared to $223B for Hungary, ranking 176/197 and 55/197 by economy size, respectively.

Guinea-Bissau has $1.82B in government debt (82.2% of GDP), compared to $164B (73.5% of GDP) in Hungary.

Guinea-Bissau vs Hungary GDP by year

Guinea-Bissau
Hungary
1x
Year GDP, current $
Guinea-Bissau Hungary
2024 $2,218,393,805 $222,722,738,926
2023 $2,127,688,181 $213,240,316,635
2022 $1,859,601,384 $177,002,580,544
2021 $1,908,094,558 $183,282,685,440
2020 $1,705,057,581 $158,468,487,754
2019 $1,596,227,316 $164,936,682,034
2018 $1,554,133,594 $161,184,691,014
2017 $1,469,978,606 $143,335,098,992
2016 $1,245,074,264 $128,983,560,865
2015 $1,152,384,167 $125,244,126,623
2014 $1,135,250,721 $141,128,696,412
2013 $1,109,682,824 $135,646,053,779
2012 $1,049,412,177 $128,470,269,690
2011 $1,157,074,319 $141,712,804,954
2010 $940,112,539 $131,898,737,241
2009 $890,167,833 $130,807,441,076
2008 $952,667,544 $158,228,265,916
2007 $753,162,998 $140,123,326,896
2006 $634,781,901 $115,604,111,412
2005 $639,776,041 $113,098,237,571
2004 $582,169,841 $104,015,363,080
2003 $553,614,800 $85,190,469,121
2002 $466,773,711 $67,636,468,625
2001 $412,610,872 $53,800,068,066
2000 $391,345,597 $47,275,954,429
1999 $579,365,780 $49,160,204,397
1998 $591,034,143 $48,784,412,624
1997 $698,107,222 $47,398,564,799
1996 $702,965,148 $46,833,767,124
1995 $660,195,402 $46,577,614,589
1994 $612,502,085 $43,307,949,890
1993 $615,779,519 $40,256,233,360
1992 $588,309,271 $38,857,339,125
1991 $668,470,891 $34,867,307,353
1990 $634,187,269 $34,478,360,679
1989 $554,072,303 $30,422,508,938
1988 $427,514,322 $29,799,838,597
1987 $451,893,375 $27,232,016,527
1986 $338,524,233 $24,778,163,812
1985 $373,959,151 $21,510,643,750
1984 $359,980,491 $21,242,726,264
1983 $425,225,177 $21,910,365,258
1982 $430,284,022 $24,141,667,188
1981 $402,230,865 $23,705,883,892
1980 $287,648,258 $23,116,977,148
1979 $308,143,183 $19,959,731,325
1978 $318,876,550 $17,286,744,154
1977 $298,871,675 $14,783,674,055
1976 $292,152,321 $13,235,612,079
1975 $283,311,997 $11,420,392,515
1974 $256,769,730 $10,016,338,179
1973 $232,331,281 $9,138,292,402
1972 $227,986,203 $7,379,313,742
1971 $204,167,297 $6,291,568,221
1970 $204,670,551 $5,780,929,203
1969 - $5,429,812,387
1968 - $4,886,222,555

Data sources: World Bank | Economy & Growth (1968–2024, retrieved 2026-04-06).

GeoRank.org/economy/guinea-bissau/hungary | CC BY

GDP per capita in Guinea-Bissau vs Hungary by year

Guinea-Bissau
GDP per capita

GDP per capita, PPP
Hungary
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea-Bissau Hungary
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,008 $3,119 $23,292 $48,552
2023 $988 $2,990 $22,231 $46,592
2022 $883 $2,789 $18,428 $44,366
2021 $927 $2,523 $19,031 $38,887
2020 $847 $2,340 $16,387 $35,584
2019 $811 $2,247 $17,013 $35,627
2018 $809 $2,058 $16,605 $32,258
2017 $783 $2,082 $14,736 $29,728
2016 $680 $1,824 $13,216 $28,179
2015 $645 $1,730 $12,783 $26,938
2014 $652 $1,456 $14,353 $25,796
2013 $654 $1,416 $13,739 $24,592
2012 $635 $1,402 $12,950 $23,205
2011 $720 $1,472 $14,211 $22,992
2010 $600 $1,370 $13,190 $21,691
2009 $583 $1,315 $13,051 $20,691
2008 $640 $1,309 $15,763 $20,709
2007 $519 $1,260 $13,935 $19,089
2006 $449 $1,226 $11,478 $18,362
2005 $463 $1,187 $11,212 $17,091
2004 $431 $1,105 $10,291 $16,251
2003 $420 $1,089 $8,410 $15,460
2002 $362 $1,095 $6,658 $14,532
2001 $327 $1,064 $5,281 $13,223
2000 $317 $1,014 $4,630 $11,872
1999 $479 $1,001 $4,802 $10,892
1998 $498 $861 $4,752 $10,415
1997 $599 $1,118 $4,606 $9,846
1996 $615 $1,052 $4,542 $9,388
1995 $589 $945 $4,509 $9,222
1994 $561 $909 $4,187 $8,888
1993 $582 $890 $3,887 $8,441
1992 $574 $880 $3,747 $8,284
1991 $672 $877 $3,361 $8,352
1990 $651 $824 $3,324 $9,169
1989 $578 - $2,902 -
1988 $454 - $2,812 -
1987 $488 - $2,566 -
1986 $371 - $2,331 -
1985 $417 - $2,020 -
1984 $407 - $1,991 -
1983 $489 - $2,050 -
1982 $503 - $2,255 -
1981 $477 - $2,213 -
1980 $347 - $2,158 -
1979 $376 - $1,865 -
1978 $403 - $1,618 -
1977 $403 - $1,388 -
1976 $421 - $1,249 -
1975 $435 - $1,083 -
1974 $419 - $956 -
1973 $392 - $876 -
1972 $389 - $710 -
1971 $348 - $607 -
1970 $350 - $559 -
1969 - - $527 -
1968 - - $476 -

Data sources: World Bank | Economy & Growth (1968–2024, retrieved 2026-04-06).

GeoRank.org/economy/guinea-bissau/hungary | CC BY

Guinea-Bissau's GDP per capita is $1,008, ranking 177/197, compared to $23,292 in Hungary, ranking 55/197. Adjusted for purchasing power (GDP per capita PPP), Guinea-Bissau ranks 179th at $3,119, while Hungary ranks 48th at $48,552.

Economic indicators

Guinea-Bissau Hungary
Gross domestic product
$2.22B
2024
$223B
2024
GDP rank
176/197
2024
55/197
2024
GDP growth
4.15%
2023-2024
0.56%
2023-2024
GDP per capita
$1,008
2024
$23,292
2024
GDP per capita rank
177/197
2024
55/197
2024
GDP per capita, PPP
$3,119
2024
$48,552
2024
GDP per capita PPP rank
179/197
2024
48/197
2024
Government debt
$1.82B
2024
$164B
2024
Debt-to-GDP ratio
82.2%
2024
73.5%
2024
Government debt per person
$828
2024
$17,109
2024
Government debt per person rank
146/185
2024
37/185
2024
Average annual personal income after taxes
$1,711
2026
$16,996
2026
Market capitalization of domestic companies n/a
$41.5B
2024
Number of millionaires n/a
24,692
2025
Number of billionaires n/a
4
2025
Income share by richest 10%
26.1%
2021
24.4%
2022
Income share by poorest 10%
3.4%
2021
2.8%
2022
Government expenditure, % of GDP
20.4%
2024
46.9%
2024
Consumer prices inflation
3.7%
2023-2024
3.7%
2023-2024
Central bank interest rate n/a
6.5%
2024
Unemployment rate
2.67%
2022
4.47%
2024
Population
2311915
9475525

Spending and national debt comparison by year

Guinea-Bissau
Spending

Debt
Hungary
Spending

Debt
1x
Year % of GDP
Guinea-Bissau Hungary
Government spending Government debt Government spending Government debt
2024 20.4% 82.2% 46.9% 73.5%
2023 21.9% 79.4% 49.2% 73%
2022 21.3% 80.7% 48.7% 73.9%
2021 25% 78.8% 48.1% 76.2%
2020 25% 77.6% 51% 78.7%
2019 18.8% 65.1% 45.8% 65%
2018 19.5% 59.1% 45.9% 68.8%
2017 18.1% 51.8% 46.6% 72%
2016 20.5% 59.1% 46.7% 74.6%
2015 21.5% 56.3% 50.4% 75.7%
2014 23% 60.1% 50% 76.5%
2013 12.4% 49.6% 50.1% 77.2%
2012 13% 47.4% 49.2% 78.4%
2011 17.3% 45.6% 49.1% 80.5%
2010 18.5% 61.7% 48.9% 80.2%
2009 20.6% 148.3% 50.7% 78.2%
2008 21.8% 148.8% 48.8% 71.8%
2007 23.7% 164% 49.9% 65.6%
2006 19.8% 190.4% 51.4% 64.5%
2005 20.2% 203.7% 49.4% 60.6%
2004 23% 202% 48.8% 58.9%
2003 17% 183.4% 49.2% 58.2%
2002 14.1% 197.5% 51% 55.6%
2001 19.1% 204.4% 47.2% 52.2%
2000 23.5% 217.1% 47.3% 55.6%
1999 12.1% 109.9% 48.9% 60.3%
1998 8.72% 109.1% 50.7% 60.4%
1997 12.7% 94.3% 49.5% 62.2%
1996 8.93% 117.3% 50.9% 71.2%
1995 8.14% 103.3% 55% 83.9%
1994 18.4% 105.5% - 86.2%
1993 13.1% 112.4% - 87.2%
1992 10.1% 85.3% - 76.5%
1991 9.19% 88.9% - 74.2%
1990 - - - 63.7%
1989 - - - 70.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989–1996, retrieved 2026-02-20).

GeoRank.org/economy/guinea-bissau/hungary | CC BY

In 2024, Guinea-Bissau's government spending was $452M, accounting for 20.4% of its GDP, while Hungary spent $104B, or 46.9% of GDP.

Debt-to-GDP ratio is 82.2% in Guinea-Bissau and 73.5% in Hungary, ranking 41/185 and 49/185, respectively.

Government deficit by year

Deficit/surplus
Guinea-Bissau

Hungary
1x
Year Deficit/surplus, % of GDP
Guinea-Bissau Hungary
2024 -7.26% -4.92%
2023 -8.15% -6.75%
2022 -6.06% -6.17%
2021 -5.88% -7.11%
2020 -9.64% -7.49%
2019 -3.86% -2.02%
2018 -4.76% -2.05%
2017 -1.32% -2.45%
2016 -5.34% -1.79%
2015 -3.16% -2%
2014 -2.44% -2.77%
2013 -1.67% -2.6%
2012 -2.12% -2.33%
2011 -1.35% -5.22%
2010 -0.23% -4.44%
2009 2.68% -4.76%
2008 -0.73% -3.78%
2007 -8.77% -5.09%
2006 -4.57% -9.27%
2005 -4.96% -7.79%
2004 -5.92% -6.6%
2003 -5.63% -7.19%
2002 -3.7% -8.79%
2001 -1.83% -4%
2000 -2.8% -3.04%
1999 -4.06% -5.27%
1998 -5.95% -7.41%
1997 -2.56% -5.54%
1996 3.48% -4.36%
1995 2.45% -8.57%
1994 -5.54% -
1993 -0.34% -
1992 -0.25% -
1991 1.61% -
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -0.17%
1942 - 0.31%
1941 - 0.2%
1940 - -0.07%
1939 - 0.19%
1938 - -0.11%
1937 - -0.01%
1936 - 0.08%
1935 - 0.03%
1934 - 0.04%
1933 - -0.03%
1932 - -0.22%
1931 - -0.32%
1930 - -0.26%
1929 - 0.02%
1928 - 0.12%
1927 - 0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1943, retrieved 2026-02-20).

GeoRank.org/economy/guinea-bissau/hungary | CC BY

In 2024, Guinea-Bissau's government deficit, the difference between spending and revenue, was $161M, equivalent to 7.26% of GDP. This compares to Hungary's deficit of $10.9B, or 4.92% of GDP.

Over the past 30 years, Guinea-Bissau recorded a fiscal deficit in 27 of those years, while Hungary ran a deficit in 30 years. On average, Guinea-Bissau posted an annual deficit equal to 3.54% of GDP, compared to deficit of 5.05% of GDP for Hungary.

Inflation comparison by year

Inflation
Guinea-Bissau

Hungary
1x
Year Consumer prices inflation
Guinea-Bissau Hungary
2024 3.7% 3.7%
2023 7.2% 17.1%
2022 7.9% 14.6%
2021 3.3% 5.11%
2020 1.5% 3.33%
2019 0.3% 3.34%
2018 0.4% 2.85%
2017 -0.2% 2.35%
2016 2.7% 0.39%
2015 1.5% -0.06%
2014 -1% -0.23%
2013 0.8% 1.73%
2012 2.1% 5.65%
2011 5.1% 3.93%
2010 1.1% 4.86%
2009 -1.6% 4.21%
2008 10.4% 6.04%
2007 4.6% 7.96%
2006 2% 3.93%
2005 3.4% 3.56%
2004 0.8% 6.74%
2003 -3.5% 4.66%
2002 3.3% 5.27%
2001 3.3% 9.12%
2000 8.6% 9.8%
1999 -2.1% 10%
1998 8.1% 14.2%
1997 49.1% 18.3%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/guinea-bissau/hungary | CC BY

Over the past 28 years, Guinea-Bissau has recorded an average annual inflation rate of 4.39%, compared with 6.16% in Hungary. In 2024, inflation was 3.7% in Guinea-Bissau and 3.7% in Hungary.

Top exports between countries

Guinea-Bissau
Export category Export value
Hungary
Export category Export value
Textiles & consumer goods $251K
Machinery & equipment $24K

Balance of trade

Guinea-Bissau Hungary
Current account balance
-$160M
2023
$3.52B
2024
Current account balance ranking
95/190
2023
36/190
2024
Current account balance, % of GDP
-7.53%
2023
+1.58%
2024
Goods imports
$403M
2023
$130B
2024
Goods exports
$240M
2023
$129B
2024
Service imports
$189M
2023
$27.9B
2024
Service exports
$44.8M
2023
$38.9B
2024
Imports of goods and services, % of GDP
27%
2024
71.1%
2024
Exports of goods and services, % of GDP
11.8%
2024
75.4%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Guinea-Bissau Hungary
Economic freedom 43.2 62.5
Economic freedom ranking 181/197 86/197
Property rights 28.4 67.3
Government integrity 21 44
Judicial effectiveness 13.2 61.9
Tax burden 89 85.1
Government spending 86.5 30.2
Fiscal health 6.5 32.7
Business freedom 34.6 70.8
Labor freedom 55.9 56.5
Monetary freedom 75.9 72.1
Trade freedom 47 79.4
Investment freedom 30 80
Financial freedom 30 70

Economic freedom comparison by year

Guinea-Bissau
Hungary
1x
Year Economic freedom index
Guinea-Bissau Hungary
2026 43.2 62.5
2025 43.6 61.4
2024 42.7 61.2
2023 44.6 64.1
2022 46 66.9
2021 54.9 67.2
2020 53.3 66.4
2019 54 65
2018 56.9 66.7
2017 56.1 65.8
2016 51.8 66
2015 52 66.8
2014 51.3 67
2013 51.1 67.3
2012 50.1 67.1
2011 46.5 66.6
2010 43.6 66.1
2009 45.4 66.8
2008 44.4 67.6
2007 46.1 64.8
2006 46.5 65
2005 46 63.5
2004 42.6 62.7
2003 43.1 63
2002 42.3 64.5
2001 42.5 65.6
2000 34.7 64.4
1999 33.5 59.6
1998 - 56.9
1997 - 55.3
1996 - 56.8
1995 - 55.2

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/guinea-bissau/hungary | CC BY

The Economic Freedom Index for Guinea-Bissau is 43.2, ranking 181/197, compared to 62.5 for Hungary, ranking 86/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea-Bissau Hungary
Services, % of GDP
37.9%
2024
59.5%
2024
Industry, % of GDP
15.6%
2024
23.7%
2024
Agriculture, forestry, and fishing, % of GDP
42.2%
2024
2.71%
2024
GNI, Atlas method
$2.18B
2024
$199B
2024
GNI per capita, PPP
$3,140
2024
$47,290
2024
Total reserves including gold n/a
$46.4B
2024
Total reserves ranking n/a
42/177
2024
Net foreign direct investment
-$24.8M
2023
-$15.8B
2024
Net inflows of foreign direct investment
$26.7M
2024
-$62.2B
2024
Net outflows of foreign direct investment
$389K
2024
-$78B
2024
Servicing debt to the IMF, % of GNI
1.75%
2024
n/a
Poverty at national poverty lines
50.5%
2021
12.1%
2021
Gross capital formation, % of GDP
24.9%
2024
23.5%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/guinea-bissau/hungary | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1968–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1927–1996, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2022–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.