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Economy of Guinea-Bissau vs Ivory Coast compared: GDP & Debt

Updated on by Georank team

Guinea-Bissau has a GDP of $2.22B compared to $87.1B for Ivory Coast, ranking 176/197 and 77/197 by economy size, respectively.

Guinea-Bissau has $1.82B in government debt (82.2% of GDP), compared to $51.6B (59.3% of GDP) in Ivory Coast.

Guinea-Bissau vs Ivory Coast GDP by year

Guinea-Bissau
Ivory Coast
1x
Year GDP, current $
Guinea-Bissau Ivory Coast
2024 $2,218,393,805 $87,113,179,149
2023 $2,127,688,181 $80,780,312,569
2022 $1,859,601,384 $70,922,824,814
2021 $1,908,094,558 $72,794,636,654
2020 $1,705,057,581 $63,027,852,805
2019 $1,596,227,316 $60,382,894,697
2018 $1,554,133,594 $58,522,477,787
2017 $1,469,978,606 $52,512,343,997
2016 $1,245,074,264 $48,407,761,037
2015 $1,152,384,167 $45,815,005,169
2014 $1,135,250,721 $48,843,005,614
2013 $1,109,682,824 $42,760,235,485
2012 $1,049,412,177 $36,302,302,877
2011 $1,157,074,319 $36,693,710,801
2010 $940,112,539 $34,936,307,980
2009 $890,167,833 $33,886,813,250
2008 $952,667,544 $34,078,240,293
2007 $753,162,998 $28,760,090,953
2006 $634,781,901 $25,281,413,263
2005 $639,776,041 $24,036,918,703
2004 $582,169,841 $23,510,575,681
2003 $553,614,800 $21,251,754,340
2002 $466,773,711 $18,054,383,321
2001 $412,610,872 $16,810,537,044
2000 $391,345,597 $16,577,533,892
1999 $579,365,780 $18,870,992,456
1998 $591,034,143 $19,619,654,756
1997 $698,107,222 $18,047,558,038
1996 $702,965,148 $18,071,152,831
1995 $660,195,402 $11,000,146,267
1994 $612,502,085 $8,313,557,510
1993 $615,779,519 $11,045,760,288
1992 $588,309,271 $11,152,971,274
1991 $668,470,891 $10,492,628,581
1990 $634,187,269 $10,795,850,583
1989 $554,072,303 $9,757,410,645
1988 $427,514,322 $10,255,169,806
1987 $451,893,375 $10,087,654,465
1986 $338,524,233 $9,158,302,100
1985 $373,959,151 $6,977,650,644
1984 $359,980,491 $6,841,639,247
1983 $425,225,177 $6,838,184,773
1982 $430,284,022 $7,567,110,849
1981 $402,230,865 $8,432,589,942
1980 $287,648,258 $10,175,617,609
1979 $308,143,183 $9,142,933,967
1978 $318,876,550 $7,900,526,298
1977 $298,871,675 $6,265,068,189
1976 $292,152,321 $4,662,053,825
1975 $283,311,997 $3,893,839,190
1974 $256,769,730 $3,070,152,309
1973 $232,331,281 $2,508,421,426
1972 $227,986,203 $1,849,400,402
1971 $204,167,297 $1,584,128,509
1970 $204,670,551 $1,455,482,795
1969 - $1,361,360,293
1968 - $1,281,281,277
1967 - $1,082,922,725
1966 - $1,024,102,880
1965 - $919,771,229
1964 - $921,063,327
1963 - $761,047,198
1962 - $645,284,474
1961 - $618,245,634
1960 - $546,203,559

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

GeoRank.org/economy/guinea-bissau/ivory-coast | CC BY

GDP per capita in Guinea-Bissau vs Ivory Coast by year

Guinea-Bissau
GDP per capita

GDP per capita, PPP
Ivory Coast
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea-Bissau Ivory Coast
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,008 $3,119 $2,728 $7,669
2023 $988 $2,990 $2,592 $7,237
2022 $883 $2,789 $2,333 $6,719
2021 $927 $2,523 $2,456 $6,045
2020 $847 $2,340 $2,180 $5,544
2019 $811 $2,247 $2,142 $5,516
2018 $809 $2,058 $2,131 $4,946
2017 $783 $2,082 $1,964 $4,690
2016 $680 $1,824 $1,863 $4,531
2015 $645 $1,730 $1,815 $4,404
2014 $652 $1,456 $1,991 $4,074
2013 $654 $1,416 $1,786 $3,619
2012 $635 $1,402 $1,547 $3,291
2011 $720 $1,472 $1,597 $3,176
2010 $600 $1,370 $1,554 $3,361
2009 $583 $1,315 $1,540 $3,177
2008 $640 $1,309 $1,584 $3,116
2007 $519 $1,260 $1,368 $2,985
2006 $449 $1,226 $1,230 $2,942
2005 $463 $1,187 $1,198 $2,842
2004 $431 $1,105 $1,200 $2,794
2003 $420 $1,089 $1,111 $2,702
2002 $362 $1,095 $968 $2,851
2001 $327 $1,064 $925 $2,962
2000 $317 $1,014 $937 $3,041
1999 $479 $1,001 $1,096 $3,065
1998 $498 $861 $1,177 $3,086
1997 $599 $1,118 $1,125 $3,040
1996 $615 $1,052 $1,170 $2,832
1995 $589 $945 $740 $2,683
1994 $561 $909 $582 $2,551
1993 $582 $890 $804 $2,577
1992 $574 $880 $845 $2,625
1991 $672 $877 $827 $2,677
1990 $651 $824 $886 $2,693
1989 $578 - $833 -
1988 $454 - $910 -
1987 $488 - $930 -
1986 $371 - $877 -
1985 $417 - $695 -
1984 $407 - $709 -
1983 $489 - $737 -
1982 $503 - $849 -
1981 $477 - $986 -
1980 $347 - $1,238 -
1979 $376 - $1,157 -
1978 $403 - $1,039 -
1977 $403 - $856 -
1976 $421 - $661 -
1975 $435 - $575 -
1974 $419 - $474 -
1973 $392 - $406 -
1972 $389 - $313 -
1971 $348 - $280.3 -
1970 $350 - $269 -
1969 - - $262.2 -
1968 - - $256.8 -
1967 - - $225.6 -
1966 - - $221.8 -
1965 - - $207 -
1964 - - $215.5 -
1963 - - $185.1 -
1962 - - $163.1 -
1961 - - $162.3 -
1960 - - $148.7 -

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

GeoRank.org/economy/guinea-bissau/ivory-coast | CC BY

Guinea-Bissau's GDP per capita is $1,008, ranking 177/197, compared to $2,728 in Ivory Coast, ranking 142/197. Adjusted for purchasing power (GDP per capita PPP), Guinea-Bissau ranks 179th at $3,119, while Ivory Coast ranks 145th at $7,669.

Economic indicators

Guinea-Bissau Ivory Coast
Gross domestic product
$2.22B
2024
$87.1B
2024
GDP rank
176/197
2024
77/197
2024
GDP growth
4.15%
2023-2024
6.02%
2023-2024
GDP per capita
$1,008
2024
$2,728
2024
GDP per capita rank
177/197
2024
142/197
2024
GDP per capita, PPP
$3,119
2024
$7,669
2024
GDP per capita PPP rank
179/197
2024
145/197
2024
Government debt
$1.82B
2024
$51.6B
2024
Debt-to-GDP ratio
82.2%
2024
59.3%
2024
Government debt per person
$828
2024
$1,616
2024
Government debt per person rank
146/185
2024
125/185
2024
Average annual personal income after taxes
$1,711
2026
$2,733
2026
Market capitalization of domestic companies n/a
$7.33B
2020
Income share by richest 10%
26.1%
2021
27.8%
2021
Income share by poorest 10%
3.4%
2021
3.1%
2021
Government expenditure, % of GDP
20.4%
2024
20.4%
2024
Consumer prices inflation
3.7%
2023-2024
3.45%
2023-2024
Unemployment rate
2.67%
2022
2.31%
2022
Population
2311915
33722528

Spending and national debt comparison by year

Guinea-Bissau
Spending

Debt
Ivory Coast
Spending

Debt
1x
Year % of GDP
Guinea-Bissau Ivory Coast
Government spending Government debt Government spending Government debt
2024 20.4% 82.2% 20.4% 59.3%
2023 21.9% 79.4% 21.3% 57.5%
2022 21.3% 80.7% 21.9% 56%
2021 25% 78.8% 20.5% 50.2%
2020 25% 77.6% 20.4% 46.3%
2019 18.8% 65.1% 17.2% 37.2%
2018 19.5% 59.1% 17.6% 35.3%
2017 18.1% 51.8% 18.1% 32.6%
2016 20.5% 59.1% 17.6% 31.1%
2015 21.5% 56.3% 16.5% 29.2%
2014 23% 60.1% 15.2% 26.7%
2013 12.4% 49.6% 15.9% 24.6%
2012 13% 47.4% 16.1% 24.7%
2011 17.3% 45.6% 13.2% 50%
2010 18.5% 61.7% 14.5% 45.6%
2009 20.6% 148.3% 14.4% 46.5%
2008 21.8% 148.8% 14.6% 51.2%
2007 23.7% 164% 14.8% 53.5%
2006 19.8% 190.4% 14.5% 57.5%
2005 20.2% 203.7% 13.6% 58.2%
2004 23% 202% 13.5% 56.7%
2003 17% 183.4% 12.7% 56.4%
2002 14.1% 197.5% 13.1% 63%
2001 19.1% 204.4% 11.4% 71.2%
2000 23.5% 217.1% 12.9% 74%
1999 12.1% 109.9% 13.7% 78%
1998 8.72% 109.1% 14.6% 75.2%
1997 12.7% 94.3% 15.2% 84.2%
1996 8.93% 117.3% - -
1995 8.14% 103.3% - -
1994 18.4% 105.5% - -
1993 13.1% 112.4% - -
1992 10.1% 85.3% - -
1991 9.19% 88.9% - -

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

GeoRank.org/economy/guinea-bissau/ivory-coast | CC BY

In 2024, Guinea-Bissau's government spending was $452M, accounting for 20.4% of its GDP, while Ivory Coast spent $17.7B, or 20.4% of GDP.

Debt-to-GDP ratio is 82.2% in Guinea-Bissau and 59.3% in Ivory Coast, ranking 41/185 and 82/185, respectively.

Government deficit by year

Deficit/surplus
Guinea-Bissau

Ivory Coast
1x
Year Deficit/surplus, % of GDP
Guinea-Bissau Ivory Coast
2024 -7.26% -3.97%
2023 -8.15% -5.19%
2022 -6.06% -6.74%
2021 -5.88% -4.86%
2020 -9.64% -5.42%
2019 -3.86% -2.22%
2018 -4.76% -2.9%
2017 -1.32% -3.27%
2016 -5.34% -2.98%
2015 -3.16% -2.04%
2014 -2.44% -1.57%
2013 -1.67% -1.62%
2012 -2.12% -2.28%
2011 -1.35% -2.89%
2010 -0.23% -1.34%
2009 2.68% -1%
2008 -0.73% -0.21%
2007 -8.77% -0.39%
2006 -4.57% -1.03%
2005 -4.96% -1.03%
2004 -5.92% -1.04%
2003 -5.63% -1.26%
2002 -3.7% -0.64%
2001 -1.83% 0.7%
2000 -2.8% -0.83%
1999 -4.06% -1.27%
1998 -5.95% -0.7%
1997 -2.56% -0.75%
1996 3.48% -
1995 2.45% -
1994 -5.54% -
1993 -0.34% -
1992 -0.25% -
1991 1.61% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20).

GeoRank.org/economy/guinea-bissau/ivory-coast | 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 Ivory Coast's deficit of $3.45B, or 3.97% of GDP.

Over the past 28 years, Guinea-Bissau recorded a fiscal deficit in 27 of those years, while Ivory Coast ran a deficit in 27 years. On average, Guinea-Bissau posted an annual deficit equal to 4% of GDP, compared to deficit of 2.1% of GDP for Ivory Coast.

Inflation comparison by year

Inflation
Guinea-Bissau

Ivory Coast
1x
Year Consumer prices inflation
Guinea-Bissau Ivory Coast
2024 3.7% 3.45%
2023 7.2% 4.37%
2022 7.9% 5.23%
2021 3.3% 4.16%
2020 1.5% 2.41%
2019 0.3% 0.79%
2018 0.4% 0.4%
2017 -0.2% 0.69%
2016 2.7% 0.72%
2015 1.5% 1.25%
2014 -1% 0.45%
2013 0.8% 2.58%
2012 2.1% 1.3%
2011 5.1% 4.91%
2010 1.1% 1.23%
2009 -1.6% 1.02%
2008 10.4% 6.31%
2007 4.6% 1.89%
2006 2% 2.47%
2005 3.4% 3.89%
2004 0.8% 1.46%
2003 -3.5% 3.3%
2002 3.3% 3.08%
2001 3.3% 4.36%
2000 8.6% 2.53%
1999 -2.1% 0.7%
1998 8.1% 4.61%
1997 49.1% 4.02%

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/ivory-coast | CC BY

Over the past 28 years, Guinea-Bissau has recorded an average annual inflation rate of 4.39%, compared with 2.63% in Ivory Coast. In 2024, inflation was 3.7% in Guinea-Bissau and 3.45% in Ivory Coast.

Top exports between countries

Guinea-Bissau
Export category Export value
Ivory Coast
Export category Export value
Miscellaneous $1.68M
Wood & paper products $1.18M
Machinery & equipment $720K
Processed food, beverages & tobacco $523K
Chemicals & pharma $464K
Textiles & consumer goods $103K
Metals $37K
Raw materials & minerals $36K
Precious metals & jewellery $1K

Balance of trade

Guinea-Bissau Ivory Coast
Current account balance
-$160M
2023
-$9.21B
2023
Current account balance ranking
95/190
2023
175/190
2023
Current account balance, % of GDP
-7.53%
2023
-11.4%
2023
Goods imports
$403M
2023
$15.4B
2023
Goods exports
$240M
2023
$17.1B
2023
Service imports
$189M
2023
$8.78B
2023
Service exports
$44.8M
2023
$1.5B
2023
Imports of goods and services, % of GDP
27%
2024
25.2%
2024
Exports of goods and services, % of GDP
11.8%
2024
26%
2024

Economic freedom indices

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

Guinea-Bissau Ivory Coast
Economic freedom 43.2 58.1
Economic freedom ranking 181/197 111/197
Property rights 28.4 43.9
Government integrity 21 39.3
Judicial effectiveness 13.2 30.2
Tax burden 89 81.6
Government spending 86.5 86.6
Fiscal health 6.5 48
Business freedom 34.6 68.3
Labor freedom 55.9 57.1
Monetary freedom 75.9 67.6
Trade freedom 47 74.4
Investment freedom 30 50
Financial freedom 30 50

Economic freedom comparison by year

Guinea-Bissau
Ivory Coast
1x
Year Economic freedom index
Guinea-Bissau Ivory Coast
2026 43.2 58.1
2025 43.6 57.8
2024 42.7 58.4
2023 44.6 60.4
2022 46 61.6
2021 54.9 61.7
2020 53.3 59.7
2019 54 62.4
2018 56.9 62
2017 56.1 63
2016 51.8 60
2015 52 58.5
2014 51.3 57.7
2013 51.1 54.1
2012 50.1 54.3
2011 46.5 55.4
2010 43.6 54.1
2009 45.4 55
2008 44.4 53.9
2007 46.1 54.9
2006 46.5 56.2
2005 46 56.6
2004 42.6 57.8
2003 43.1 56.7
2002 42.3 57.3
2001 42.5 54.8
2000 34.7 50.2
1999 33.5 51.7
1998 - 51.3
1997 - 50.5
1996 - 49.9
1995 - 53.4

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

GeoRank.org/economy/guinea-bissau/ivory-coast | CC BY

The Economic Freedom Index for Guinea-Bissau is 43.2, ranking 181/197, compared to 58.1 for Ivory Coast, ranking 111/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea-Bissau Ivory Coast
Services, % of GDP
37.9%
2024
51.9%
2024
Industry, % of GDP
15.6%
2024
24%
2024
Agriculture, forestry, and fishing, % of GDP
42.2%
2024
15.9%
2024
GNI, Atlas method
$2.18B
2024
$80.9B
2024
GNI per capita, PPP
$3,140
2024
$7,360
2024
Net foreign direct investment
-$24.8M
2023
-$2B
2023
Net inflows of foreign direct investment
$26.7M
2024
$3.12B
2024
Net outflows of foreign direct investment
$389K
2024
$228M
2024
Servicing debt to the IMF, % of GNI
1.75%
2024
6.44%
2024
Poverty at national poverty lines
50.5%
2021
37.5%
2021
Gross capital formation, % of GDP
24.9%
2024
20.9%
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/ivory-coast | 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 (1991–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2021–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1991–1996, retrieved 2026-02-20)
  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.