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

Updated on by Georank team

Guinea-Bissau has a GDP of $2.22B compared to $475B for Iran, ranking 176/197 and 34/197 by economy size, respectively.

Guinea-Bissau has $1.82B in government debt (82.2% of GDP), compared to $162B (34% of GDP) in Iran.

Guinea-Bissau vs Iran GDP by year

Guinea-Bissau
Iran
1x
Year GDP, current $
Guinea-Bissau Iran
2024 $2,218,393,805 $475,252,089,215
2023 $2,127,688,181 $457,510,482,317
2022 $1,859,601,384 $422,662,261,526
2021 $1,908,094,558 $407,350,685,583
2020 $1,705,057,581 $280,934,329,280
2019 $1,596,227,316 $347,988,400,958
2018 $1,554,133,594 $411,903,303,606
2017 $1,469,978,606 $510,239,893,418
2016 $1,245,074,264 $478,618,064,871
2015 $1,152,384,167 $409,191,686,497
2014 $1,135,250,721 $462,284,793,281
2013 $1,109,682,824 $500,399,839,840
2012 $1,049,412,177 $644,019,315,004
2011 $1,157,074,319 $629,082,257,472
2010 $940,112,539 $487,069,570,464
2009 $890,167,833 $414,059,094,949
2008 $952,667,544 $406,070,949,554
2007 $753,162,998 $349,736,591,832
2006 $634,781,901 $265,602,187,404
2005 $639,776,041 $224,970,371,325
2004 $582,169,841 $187,754,571,248
2003 $553,614,800 $151,911,222,119
2002 $466,773,711 $128,626,917,504
2001 $412,610,872 $126,878,750,296
2000 $391,345,597 $109,591,707,802
1999 $579,365,780 $113,848,450,088
1998 $591,034,143 $110,276,913,363
1997 $698,107,222 $113,919,163,421
1996 $702,965,148 $120,403,931,885
1995 $660,195,402 $96,419,225,744
1994 $612,502,085 $71,841,461,173
1993 $615,779,519 $63,743,623,232
1992 $588,309,271 $119,768,691,217
1991 $668,470,891 $131,637,664,958
1990 $634,187,269 $124,813,263,926
1989 $554,072,303 $120,496,362,916
1988 $427,514,322 $123,057,861,334
1987 $451,893,375 $134,009,995,923
1986 $338,524,233 $209,094,561,833
1985 $373,959,151 $180,183,629,600
1984 $359,980,491 $162,276,728,620
1983 $425,225,177 $156,365,156,618
1982 $430,284,022 $125,948,756,439
1981 $402,230,865 $100,499,312,750
1980 $287,648,258 $94,362,275,580
1979 $308,143,183 $90,391,877,326
1978 $318,876,550 $77,994,316,621
1977 $298,871,675 $80,600,122,702
1976 $292,152,321 $68,055,295,081
1975 $283,311,997 $51,776,222,350
1974 $256,769,730 $46,209,092,072
1973 $232,331,281 $27,081,698,250
1972 $227,986,203 $17,153,463,263
1971 $204,167,297 $13,731,802,833
1970 $204,670,551 $10,976,245,154
1969 - $9,743,089,607
1968 - $8,623,172,960
1967 - $7,555,383,690
1966 - $6,789,938,672
1965 - $6,197,319,929
1964 - $5,379,845,648
1963 - $4,928,628,018
1962 - $4,693,566,416
1961 - $4,426,949,095
1960 - $4,199,134,390

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Guinea-Bissau vs Iran by year

Guinea-Bissau
GDP per capita

GDP per capita, PPP
Iran
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea-Bissau Iran
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,008 $3,119 $5,190 $19,874
2023 $988 $2,990 $5,049 $18,917
2022 $883 $2,789 $4,721 $17,546
2021 $927 $2,523 $4,605 $15,884
2020 $847 $2,340 $3,203 $15,119
2019 $811 $2,247 $3,997 $13,928
2018 $809 $2,058 $4,783 $15,324
2017 $783 $2,082 $6,001 $15,719
2016 $680 $1,824 $5,711 $15,195
2015 $645 $1,730 $4,953 $14,274
2014 $652 $1,456 $5,672 $16,065
2013 $654 $1,416 $6,223 $16,215
2012 $635 $1,402 $8,114 $17,021
2011 $720 $1,472 $8,026 $19,275
2010 $600 $1,370 $6,291 $18,628
2009 $583 $1,315 $5,416 $17,615
2008 $640 $1,309 $5,377 $17,549
2007 $519 $1,260 $4,688 $17,384
2006 $449 $1,226 $3,619 $15,907
2005 $463 $1,187 $3,132 $15,016
2004 $431 $1,105 $2,672 $14,425
2003 $420 $1,089 $2,209 $13,755
2002 $362 $1,095 $1,891 $12,554
2001 $327 $1,064 $1,881 $11,533
2000 $317 $1,014 $1,650 $11,187
1999 $479 $1,001 $1,740 $10,489
1998 $498 $861 $1,709 $10,285
1997 $599 $1,118 $1,790 $10,101
1996 $615 $1,052 $1,915 $9,916
1995 $589 $945 $1,550 $9,255
1994 $561 $909 $1,168 $8,951
1993 $582 $890 $1,038 $8,933
1992 $574 $880 $1,957 $8,888
1991 $672 $877 $2,194 $8,580
1990 $651 $824 $2,138 $7,566
1989 $578 - $2,125 -
1988 $454 - $2,234 -
1987 $488 - $2,513 -
1986 $371 - $4,064 -
1985 $417 - $3,634 -
1984 $407 - $3,395 -
1983 $489 - $3,397 -
1982 $503 - $2,845 -
1981 $477 - $2,393 -
1980 $347 - $2,368 -
1979 $376 - $2,352 -
1978 $403 - $2,101 -
1977 $403 - $2,243 -
1976 $421 - $1,954 -
1975 $435 - $1,532 -
1974 $419 - $1,409 -
1973 $392 - $851 -
1972 $389 - $555 -
1971 $348 - $457 -
1970 $350 - $377 -
1969 - - $345 -
1968 - - $314 -
1967 - - $283.7 -
1966 - - $262.9 -
1965 - - $247.5 -
1964 - - $221.7 -
1963 - - $209.6 -
1962 - - $205.8 -
1961 - - $200.1 -
1960 - - $195.6 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Guinea-Bissau's GDP per capita is $1,008, ranking 177/197, compared to $5,190 in Iran, ranking 119/197. Adjusted for purchasing power (GDP per capita PPP), Guinea-Bissau ranks 179th at $3,119, while Iran ranks 97th at $19,874.

Economic indicators

Guinea-Bissau Iran
Gross domestic product
$2.22B
2024
$475B
2024
GDP rank
176/197
2024
34/197
2024
GDP growth
4.15%
2023-2024
3.66%
2023-2024
GDP per capita
$1,008
2024
$5,190
2024
GDP per capita rank
177/197
2024
119/197
2024
GDP per capita, PPP
$3,119
2024
$19,874
2024
GDP per capita PPP rank
179/197
2024
97/197
2024
Government debt
$1.82B
2024
$162B
2024
Debt-to-GDP ratio
82.2%
2024
34%
2024
Government debt per person
$828
2024
$1,764
2024
Government debt per person rank
146/185
2024
122/185
2024
Average annual personal income after taxes
$1,711
2026
$2,964
2026
Market capitalization of domestic companies n/a
$172B
2024
Income share by richest 10%
26.1%
2021
28.2%
2023
Income share by poorest 10%
3.4%
2021
2.8%
2023
Government expenditure, % of GDP
20.4%
2024
14.2%
2024
Consumer prices inflation
3.7%
2023-2024
32.5%
2023-2024
Central bank interest rate n/a
23%
2023
Unemployment rate
2.67%
2022
7.63%
2024
Population
2311915
93468444

Spending and national debt comparison by year

Guinea-Bissau
Spending

Debt
Iran
Spending

Debt
1x
Year % of GDP
Guinea-Bissau Iran
Government spending Government debt Government spending Government debt
2024 20.4% 82.2% 14.2% 34%
2023 21.9% 79.4% 12.8% 29.6%
2022 21.3% 80.7% 12.8% 34.5%
2021 25% 78.8% 13.4% 39.9%
2020 25% 77.6% 12.1% 47.1%
2019 18.8% 65.1% 13.6% 44.6%
2018 19.5% 59.1% 14.8% 41.6%
2017 18.1% 51.8% 16.4% 43.2%
2016 20.5% 59.1% 16.3% 45.9%
2015 21.5% 56.3% 14.1% 32.1%
2014 23% 60.1% 12.3% 10.9%
2013 12.4% 49.6% 11.5% 10.2%
2012 13% 47.4% 11.4% 11.7%
2011 17.3% 45.6% 14.6% 10.6%
2010 18.5% 61.7% 14.1% 12.8%
2009 20.6% 148.3% 15.7% 11.5%
2008 21.8% 148.8% 16.8% 10.6%
2007 23.7% 164% 14.2% 13.5%
2006 19.8% 190.4% 18.7% 15.2%
2005 20.2% 203.7% 17.9% 18.3%
2004 23% 202% 15.1% 21.1%
2003 17% 183.4% 15.7% 21.9%
2002 14.1% 197.5% 15.6% 23.4%
2001 19.1% 204.4% 13.6% 21%
2000 23.5% 217.1% 13.3% 18.2%
1999 12.1% 109.9% 15.7% 22.2%
1998 8.72% 109.1% 16.9% 29.6%
1997 12.7% 94.3% 17.4% 30.9%
1996 8.93% 117.3% 17.3% 29.3%
1995 8.14% 103.3% 21% 31.2%
1994 18.4% 105.5% 23% 41.7%
1993 13.1% 112.4% 27.2% 25.6%
1992 10.1% 85.3% 14.4% 25.2%
1991 9.19% 88.9% 14% 29.3%
1990 - - 16.4% 37%
1989 - - 20% 48.8%
1988 - - 23.6% 53.2%
1987 - - 18.6% 48.6%
1986 - - 19% 47.4%
1985 - - 21.6% 8.73%
1984 - - 23.7% 10%
1983 - - 27.5% 35.7%
1982 - - 29.7% 47.7%
1981 - - 33.7% 47.6%
1980 - - 35.8% 35.5%
1979 - - - -
1978 - - - -
1977 - - - 9.23%
1976 - - - 6.92%
1975 - - - 8.81%
1974 - - - 6.68%
1973 - - - 12.8%
1972 - - - 12.7%
1971 - - - 14.2%
1970 - - - 14.1%
1969 - - - -
1968 - - 23.6% -
1967 - - 22.3% -
1966 - - 20.5% -
1965 - - 16.3% 14.9%
1964 - - 15.4% 15.2%
1963 - - 14.8% 12.4%
1962 - - 15.6% 13.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1996, retrieved 2026-02-20).

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

In 2024, Guinea-Bissau's government spending was $452M, accounting for 20.4% of its GDP, while Iran spent $67.5B, or 14.2% of GDP.

Debt-to-GDP ratio is 82.2% in Guinea-Bissau and 34% in Iran, ranking 41/185 and 147/185, respectively.

Government deficit by year

Deficit/surplus
Guinea-Bissau

Iran
1x
Year Deficit/surplus, % of GDP
Guinea-Bissau Iran
2024 -7.26% -3.83%
2023 -8.15% -2.54%
2022 -6.06% -2.64%
2021 -5.88% -3.01%
2020 -9.64% -4.87%
2019 -3.86% -4.3%
2018 -4.76% -1.59%
2017 -1.32% -1.55%
2016 -5.34% -1.7%
2015 -3.16% -1.3%
2014 -2.44% -0.91%
2013 -1.67% -0.72%
2012 -2.12% -0.5%
2011 -1.35% -0.66%
2010 -0.23% -0.84%
2009 2.68% -3.3%
2008 -0.73% -4.39%
2007 -8.77% -2.41%
2006 -4.57% -4.91%
2005 -4.96% -2.44%
2004 -5.92% -2.45%
2003 -5.63% -2.76%
2002 -3.7% -2.88%
2001 -1.83% 0.02%
2000 -2.8% 5.42%
1999 -4.06% -0.51%
1998 -5.95% -5.03%
1997 -2.56% -1.81%
1996 3.48% -0.75%
1995 2.45% -2.63%
1994 -5.54% -3.36%
1993 -0.34% -5.15%
1992 -0.25% -0.86%
1991 1.61% -1.64%
1990 - -1.73%
1989 - -4.45%
1988 - -10.3%
1987 - -6.84%
1986 - -7.84%
1985 - -3.74%
1984 - -4.02%
1983 - -6.15%
1982 - -5.55%
1981 - -10.7%
1980 - -14.2%
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -4.57%
1967 - -4%
1966 - -2.63%
1965 - -1.23%
1964 - -0.04%
1963 - 0.26%
1962 - -1.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

GeoRank.org/economy/guinea-bissau/iran | 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 Iran's deficit of $18.2B, or 3.83% of GDP.

Over the past 34 years, Guinea-Bissau recorded a fiscal deficit in 30 of those years, while Iran ran a deficit in 32 years. On average, Guinea-Bissau posted an annual deficit equal to 3.25% of GDP, compared to deficit of 2.14% of GDP for Iran.

Inflation comparison by year

Inflation
Guinea-Bissau

Iran
1x
Year Consumer prices inflation
Guinea-Bissau Iran
2024 3.7% 32.5%
2023 7.2% 44.6%
2022 7.9% 43.5%
2021 3.3% 43.4%
2020 1.5% 30.6%
2019 0.3% 39.9%
2018 0.4% 18%
2017 -0.2% 8.04%
2016 2.7% 7.25%
2015 1.5% 12.5%
2014 -1% 16.6%
2013 0.8% 36.6%
2012 2.1% 27.3%
2011 5.1% 26.3%
2010 1.1% 10.1%
2009 -1.6% 13.6%
2008 10.4% 25.4%
2007 4.6% 17.3%
2006 2% 10%
2005 3.4% 13.4%
2004 0.8% 14.8%
2003 -3.5% 16.5%
2002 3.3% 14.3%
2001 3.3% 11.3%
2000 8.6% 14.5%
1999 -2.1% 20.1%
1998 8.1% 17.9%
1997 49.1% 17.3%

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/iran | CC BY

Over the past 28 years, Guinea-Bissau has recorded an average annual inflation rate of 4.39%, compared with 21.6% in Iran. In 2024, inflation was 3.7% in Guinea-Bissau and 32.5% in Iran.

Balance of trade

Guinea-Bissau Iran
Current account balance
-$160M
2023
$12.5B
2000
Current account balance ranking
95/190
2023
22/190
2000
Current account balance, % of GDP
-7.53%
2023
+11.4%
2000
Goods imports
$403M
2023
$15.2B
2000
Goods exports
$240M
2023
$28.3B
2000
Service imports
$189M
2023
$2.3B
2000
Service exports
$44.8M
2023
$1.38B
2000
Imports of goods and services, % of GDP
27%
2024
28.5%
2024
Exports of goods and services, % of GDP
11.8%
2024
23.6%
2024

Economic freedom indices

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

Guinea-Bissau Iran
Economic freedom 43.2 41.8
Economic freedom ranking 181/197 185/197
Property rights 28.4 20.2
Government integrity 21 16.2
Judicial effectiveness 13.2 18.7
Tax burden 89 81.3
Government spending 86.5 94.7
Fiscal health 6.5 83.3
Business freedom 34.6 37.4
Labor freedom 55.9 41.8
Monetary freedom 75.9 42.2
Trade freedom 47 55.8
Investment freedom 30 5
Financial freedom 30 5

Economic freedom comparison by year

Guinea-Bissau
Iran
1x
Year Economic freedom index
Guinea-Bissau Iran
2026 43.2 41.8
2025 43.6 42.5
2024 42.7 41.2
2023 44.6 42.2
2022 46 42.4
2021 54.9 47.2
2020 53.3 49.2
2019 54 51.1
2018 56.9 50.9
2017 56.1 50.5
2016 51.8 43.5
2015 52 41.8
2014 51.3 40.3
2013 51.1 43.2
2012 50.1 42.3
2011 46.5 42.1
2010 43.6 43.4
2009 45.4 44.6
2008 44.4 45
2007 46.1 45
2006 46.5 45
2005 46 50.5
2004 42.6 42.8
2003 43.1 43.2
2002 42.3 36.4
2001 42.5 35.9
2000 34.7 36.1
1999 33.5 36.8
1998 - 36
1997 - 34.5
1996 - 36.1

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Guinea-Bissau is 43.2, ranking 181/197, compared to 41.8 for Iran, ranking 185/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea-Bissau Iran
Services, % of GDP
37.9%
2024
49.8%
2024
Industry, % of GDP
15.6%
2024
36.1%
2024
Agriculture, forestry, and fishing, % of GDP
42.2%
2024
10.8%
2024
GNI, Atlas method
$2.18B
2024
$469B
2024
GNI per capita, PPP
$3,140
2024
$19,820
2024
Total reserves including gold n/a
$7.69B
1982
Total reserves ranking n/a
85/177
1982
Net foreign direct investment
-$24.8M
2023
-$39M
2000
Net inflows of foreign direct investment
$26.7M
2024
$1.45B
2024
Net outflows of foreign direct investment
$389K
2024
$89.4M
2024
Servicing debt to the IMF, % of GNI
1.75%
2024
0.08%
2024
Poverty at national poverty lines
50.5%
2021
18.7%
2020
Gross capital formation, % of GDP
24.9%
2024
44.3%
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/iran | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1996, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.