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

Updated on by Georank team

Guinea-Bissau has a GDP of $2.22B compared to $160B for Kuwait, ranking 176/197 and 59/197 by economy size, respectively.

Guinea-Bissau has $1.82B in government debt (82.2% of GDP), compared to $4.68B (2.92% of GDP) in Kuwait.

Guinea-Bissau vs Kuwait GDP by year

Guinea-Bissau
Kuwait
1x
Year GDP, current $
Guinea-Bissau Kuwait
2024 $2,218,393,805 $160,227,273,053
2023 $2,127,688,181 $165,384,407,116
2022 $1,859,601,384 $183,502,046,694
2021 $1,908,094,558 $148,350,671,489
2020 $1,705,057,581 $111,045,470,606
2019 $1,596,227,316 $140,856,394,861
2018 $1,554,133,594 $138,646,316,351
2017 $1,469,978,606 $120,687,539,806
2016 $1,245,074,264 $109,406,674,125
2015 $1,152,384,167 $114,585,555,689
2014 $1,135,250,721 $162,650,450,685
2013 $1,109,682,824 $174,168,116,535
2012 $1,049,412,177 $174,047,662,680
2011 $1,157,074,319 $154,039,231,246
2010 $940,112,539 $115,416,245,242
2009 $890,167,833 $105,968,691,905
2008 $952,667,544 $147,379,737,230
2007 $753,162,998 $114,634,043,362
2006 $634,781,901 $101,557,330,723
2005 $639,776,041 $80,798,630,137
2004 $582,169,841 $59,439,090,601
2003 $553,614,800 $47,874,582,232
2002 $466,773,711 $38,135,788,414
2001 $412,610,872 $34,889,559,870
2000 $391,345,597 $37,718,743,480
1999 $579,365,780 $30,122,365,849
1998 $591,034,143 $25,943,705,784
1997 $698,107,222 $30,350,190,704
1996 $702,965,148 $31,492,373,309
1995 $660,195,402 $27,186,980,647
1994 $612,502,085 $24,848,483,838
1993 $615,779,519 $23,941,391,391
1992 $588,309,271 $19,858,555,215
1991 $668,470,891 $11,009,993,703
1990 $634,187,269 $18,427,777,778
1989 $554,072,303 $24,313,855,653
1988 $427,514,322 $20,690,322,153
1987 $451,893,375 $22,368,704,134
1986 $338,524,233 $17,903,989,745
1985 $373,959,151 $21,445,970,614
1984 $359,980,491 $21,700,082,753
1983 $425,225,177 $20,871,081,080
1982 $430,284,022 $21,577,153,356
1981 $402,230,865 $25,058,020,338
1980 $287,648,258 $28,638,868,356
1979 $308,143,183 $24,749,063,922
1978 $318,876,550 $15,503,557,496
1977 $298,871,675 $14,137,406,741
1976 $292,152,321 $13,132,252,802
1975 $283,311,997 $12,022,811,621
1974 $256,769,730 $13,006,948,296
1973 $232,331,281 $5,408,804,607
1972 $227,986,203 $4,450,537,925
1971 $204,167,297 $3,880,392,195
1970 $204,670,551 $2,873,638,851
1969 - $2,769,198,892
1968 - $2,662,798,935
1967 - $2,441,599,023
1966 - $2,391,199,044
1965 - $2,097,199,161
1964 - $2,071,668,533
1963 - $1,900,895,857
1962 - $1,828,107,503

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

GDP per capita in Guinea-Bissau vs Kuwait by year

Guinea-Bissau
GDP per capita

GDP per capita, PPP
Kuwait
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea-Bissau Kuwait
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,008 $3,119 $32,718 $52,444
2023 $988 $2,990 $34,076 $53,025
2022 $883 $2,789 $39,982 $55,043
2021 $927 $2,523 $34,019 $50,652
2020 $847 $2,340 $25,236 $41,462
2019 $811 $2,247 $31,708 $50,703
2018 $809 $2,058 $32,068 $51,371
2017 $783 $2,082 $29,048 $46,566
2016 $680 $1,824 $27,324 $41,862
2015 $645 $1,730 $29,882 $45,267
2014 $652 $1,456 $44,369 $68,337
2013 $654 $1,416 $49,651 $76,813
2012 $635 $1,402 $52,155 $82,090
2011 $720 $1,472 $49,170 $79,037
2010 $600 $1,370 $39,212 $75,184
2009 $583 $1,315 $37,907 $80,110
2008 $640 $1,309 $55,585 $90,337
2007 $519 $1,260 $45,709 $91,435
2006 $449 $1,226 $42,947 $89,075
2005 $463 $1,187 $36,123 $84,968
2004 $431 $1,105 $27,552 $77,227
2003 $420 $1,089 $22,691 $69,752
2002 $362 $1,095 $18,513 $59,713
2001 $327 $1,064 $17,374 $58,553
2000 $317 $1,014 $19,296 $58,703
1999 $479 $1,001 $15,854 $56,406
1998 $498 $861 $14,067 $58,344
1997 $599 $1,118 $16,977 $57,420
1996 $615 $1,052 $18,201 $56,913
1995 $589 $945 $16,168 $57,163
1994 $561 $909 $14,930 $53,946
1993 $582 $890 $14,318 $48,482
1992 $574 $880 $12,146 $36,149
1991 $672 $877 $8,147 $23,390
1990 $651 $824 $10,938 $30,763
1989 $578 - $10,965 -
1988 $454 - $9,692 -
1987 $488 - $10,896 -
1986 $371 - $9,077 -
1985 $417 - $11,322 -
1984 $407 - $11,919 -
1983 $489 - $11,965 -
1982 $503 - $12,979 -
1981 $477 - $15,825 -
1980 $347 - $19,032 -
1979 $376 - $17,386 -
1978 $403 - $11,567 -
1977 $403 - $11,238 -
1976 $421 - $11,141 -
1975 $435 - $10,882 -
1974 $419 - $12,527 -
1973 $392 - $5,532 -
1972 $389 - $4,836 -
1971 $348 - $4,486 -
1970 $350 - $3,552 -
1969 - - $3,695 -
1968 - - $3,872 -
1967 - - $3,887 -
1966 - - $4,176 -
1965 - - $4,024 -
1964 - - $4,379 -
1963 - - $4,445 -
1962 - - $4,748 -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

Guinea-Bissau's GDP per capita is $1,008, ranking 177/197, compared to $32,718 in Kuwait, ranking 37/197. Adjusted for purchasing power (GDP per capita PPP), Guinea-Bissau ranks 179th at $3,119, while Kuwait ranks 40th at $52,444.

Economic indicators

Guinea-Bissau Kuwait
Gross domestic product
$2.22B
2024
$160B
2024
GDP rank
176/197
2024
59/197
2024
GDP growth
4.15%
2023-2024
-2.56%
2023-2024
GDP per capita
$1,008
2024
$32,718
2024
GDP per capita rank
177/197
2024
37/197
2024
GDP per capita, PPP
$3,119
2024
$52,444
2024
GDP per capita PPP rank
179/197
2024
40/197
2024
Government debt
$1.82B
2024
$4.68B
2024
Debt-to-GDP ratio
82.2%
2024
2.92%
2024
Government debt per person
$828
2024
$956
2024
Government debt per person rank
146/185
2024
143/185
2024
Average annual personal income after taxes
$1,711
2026
$23,828
2026
Market capitalization of domestic companies n/a
$141B
2024
Income share by richest 10%
26.1%
2021
n/a
Income share by poorest 10%
3.4%
2021
n/a
Government expenditure, % of GDP
20.4%
2024
50.4%
2024
Consumer prices inflation
3.7%
2023-2024
2.9%
2023-2024
Central bank interest rate n/a
3.5%
2025
Unemployment rate
2.67%
2022
2.16%
2016
Population
2311915
5100145

Spending and national debt comparison by year

Guinea-Bissau
Spending

Debt
Kuwait
Spending

Debt
1x
Year % of GDP
Guinea-Bissau Kuwait
Government spending Government debt Government spending Government debt
2024 20.4% 82.2% 50.4% 2.92%
2023 21.9% 79.4% 48.3% 3.13%
2022 21.3% 80.7% 39.6% 2.95%
2021 25% 78.8% 48.3% 7.2%
2020 25% 77.6% 62.9% 10.2%
2019 18.8% 65.1% 50.3% 10.5%
2018 19.5% 59.1% 51.1% 14.3%
2017 18.1% 51.8% 51.9% 19.6%
2016 20.5% 59.1% 54.1% 9.88%
2015 21.5% 56.3% 55.4% 4.6%
2014 23% 60.1% 45% 3.43%
2013 12.4% 49.6% 38.4% 3.09%
2012 13% 47.4% 38.2% 3.6%
2011 17.3% 45.6% 39.7% 4.64%
2010 18.5% 61.7% 45.5% 6.16%
2009 20.6% 148.3% 42.9% 6.65%
2008 21.8% 148.8% 40.9% 5.38%
2007 23.7% 164% 30.4% 7.05%
2006 19.8% 190.4% 32.3% 7.79%
2005 20.2% 203.7% 28.8% 10.2%
2004 23% 202% 35.3% 13.9%
2003 17% 183.4% 38.2% 17.2%
2002 14.1% 197.5% 42.8% 21.3%
2001 19.1% 204.4% 41.4% 23%
2000 23.5% 217.1% 29.9% 21.4%
1999 12.1% 109.9% 44.5% 25.5%
1998 8.72% 109.1% 51.7% 25.6%
1997 12.7% 94.3% 43.8% 24.3%
1996 8.93% 117.3% 42.8% 26.5%
1995 8.14% 103.3% 52% 34.9%
1994 18.4% 105.5% 57.8% 37.7%
1993 13.1% 112.4% 58.2% 28.8%
1992 10.1% 85.3% 77.6% 27.9%
1991 9.19% 88.9% 208.9% 45.3%
1990 - - 122.9% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1991–1996, retrieved 2026-02-20).

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

In 2024, Guinea-Bissau's government spending was $452M, accounting for 20.4% of its GDP, while Kuwait spent $80.8B, or 50.4% of GDP.

Debt-to-GDP ratio is 82.2% in Guinea-Bissau and 2.92% in Kuwait, ranking 41/185 and 184/185, respectively.

Government deficit by year

Deficit/surplus
Guinea-Bissau

Kuwait
1x
Year Deficit/surplus, % of GDP
Guinea-Bissau Kuwait
2024 -7.26% 23.8%
2023 -8.15% 28.2%
2022 -6.06% 30%
2021 -5.88% 9.98%
2020 -9.64% 0.14%
2019 -3.86% 13%
2018 -4.76% 17.5%
2017 -1.32% 15.3%
2016 -5.34% 13.1%
2015 -3.16% 16.6%
2014 -2.44% 30%
2013 -1.67% 40.6%
2012 -2.12% 40.7%
2011 -1.35% 38.8%
2010 -0.23% 31.9%
2009 2.68% 31.3%
2008 -0.73% 21.3%
2007 -8.77% 37.1%
2006 -4.57% 28%
2005 -4.96% 38.9%
2004 -5.92% 32.5%
2003 -5.63% 27.2%
2002 -3.7% 31%
2001 -1.83% 45.2%
2000 -2.8% 52.5%
1999 -4.06% 28.2%
1998 -5.95% 19.5%
1997 -2.56% 29.5%
1996 3.48% 24.3%
1995 2.45% 11.7%
1994 -5.54% 1.76%
1993 -0.34% -3.12%
1992 -0.25% -28.1%
1991 1.61% -145%
1990 - -50%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/guinea-bissau/kuwait | 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 Kuwait's surplus of $38.1B, or 23.8% of GDP.

Over the past 34 years, Guinea-Bissau recorded a fiscal deficit in 30 of those years, while Kuwait ran a deficit in 3 years. On average, Guinea-Bissau posted an annual deficit equal to 3.25% of GDP, compared to surplus of 18.6% of GDP for Kuwait.

Inflation comparison by year

Inflation
Guinea-Bissau

Kuwait
1x
Year Consumer prices inflation
Guinea-Bissau Kuwait
2024 3.7% 2.9%
2023 7.2% 3.64%
2022 7.9% 3.98%
2021 3.3% 3.42%
2020 1.5% 2.1%
2019 0.3% 1.09%
2018 0.4% 0.54%
2017 -0.2% 2.17%
2016 2.7% 3.2%
2015 1.5% 3.27%
2014 -1% 2.91%
2013 0.8% 2.68%
2012 2.1% 3.26%
2011 5.1% 4.84%
2010 1.1% 4.5%
2009 -1.6% 4.61%
2008 10.4% 10.6%
2007 4.6% 5.48%
2006 2% 3.06%
2005 3.4% 4.14%
2004 0.8% 1.25%
2003 -3.5% 0.96%
2002 3.3% 0.89%
2001 3.3% 1.3%
2000 8.6% 1.81%
1999 -2.1% 2.99%
1998 8.1% 0.13%
1997 49.1% 0.68%

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/kuwait | CC BY

Over the past 28 years, Guinea-Bissau has recorded an average annual inflation rate of 4.39%, compared with 2.94% in Kuwait. In 2024, inflation was 3.7% in Guinea-Bissau and 2.9% in Kuwait.

Top exports between countries

Guinea-Bissau
Export category Export value
Kuwait
Export category Export value
Raw materials & minerals $63K
Miscellaneous $2K

Balance of trade

Guinea-Bissau Kuwait
Current account balance
-$160M
2023
$46.7B
2024
Current account balance ranking
95/190
2023
15/190
2024
Current account balance, % of GDP
-7.53%
2023
+29.1%
2024
Goods imports
$403M
2023
$33.4B
2024
Goods exports
$240M
2023
$77.5B
2024
Service imports
$189M
2023
$28.1B
2024
Service exports
$44.8M
2023
$12.2B
2024
Imports of goods and services, % of GDP
27%
2024
38.3%
2023
Exports of goods and services, % of GDP
11.8%
2024
57.7%
2023

Economic freedom indices

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

Guinea-Bissau Kuwait
Economic freedom 43.2 59.9
Economic freedom ranking 181/197 100/197
Property rights 28.4 42
Government integrity 21 47.9
Judicial effectiveness 13.2 43.4
Tax burden 89 97.7
Government spending 86.5 36.2
Fiscal health 6.5 99.9
Business freedom 34.6 57.4
Labor freedom 55.9 49.2
Monetary freedom 75.9 68.7
Trade freedom 47 75.8
Investment freedom 30 50
Financial freedom 30 50

Economic freedom comparison by year

Guinea-Bissau
Kuwait
1x
Year Economic freedom index
Guinea-Bissau Kuwait
2026 43.2 59.9
2025 43.6 59.9
2024 42.7 58.5
2023 44.6 56.7
2022 46 58.3
2021 54.9 64.1
2020 53.3 63.2
2019 54 60.8
2018 56.9 62.2
2017 56.1 65.1
2016 51.8 62.7
2015 52 62.5
2014 51.3 62.3
2013 51.1 63.1
2012 50.1 62.5
2011 46.5 64.9
2010 43.6 67.7
2009 45.4 65.6
2008 44.4 68.1
2007 46.1 66.4
2006 46.5 66.5
2005 46 64.6
2004 42.6 63.6
2003 43.1 66.7
2002 42.3 65.4
2001 42.5 68.2
2000 34.7 69.7
1999 33.5 69.5
1998 - 66.3
1997 - 64.8
1996 - 66.1

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

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

The Economic Freedom Index for Guinea-Bissau is 43.2, ranking 181/197, compared to 59.9 for Kuwait, ranking 100/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea-Bissau Kuwait
Services, % of GDP
37.9%
2024
55.9%
2024
Industry, % of GDP
15.6%
2024
57.1%
2024
Agriculture, forestry, and fishing, % of GDP
42.2%
2024
0.49%
2024
GNI, Atlas method
$2.18B
2024
$200B
2024
GNI per capita, PPP
$3,140
2024
$63,270
2024
Total reserves including gold n/a
$50.7B
2024
Total reserves ranking n/a
41/177
2024
Net foreign direct investment
-$24.8M
2023
$9.71B
2024
Net inflows of foreign direct investment
$26.7M
2024
$615M
2024
Net outflows of foreign direct investment
$389K
2024
$10.3B
2024
Servicing debt to the IMF, % of GNI
1.75%
2024
n/a
Poverty at national poverty lines
50.5%
2021
n/a
Gross capital formation, % of GDP
24.9%
2024
17.7%
2023

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/kuwait | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1991–1996, retrieved 2026-02-20)
  6. TradeMap (2020–2024, 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.