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

Updated on by Georank team

Guinea-Bissau has a GDP of $2.22B compared to $422B for Malaysia, ranking 176/197 and 38/197 by economy size, respectively.

Guinea-Bissau has $1.82B in government debt (82.2% of GDP), compared to $296B (70.1% of GDP) in Malaysia.

Guinea-Bissau vs Malaysia GDP by year

Guinea-Bissau
Malaysia
1x
Year GDP, current $
Guinea-Bissau Malaysia
2024 $2,218,393,805 $422,227,005,429
2023 $2,127,688,181 $399,949,418,753
2022 $1,859,601,384 $407,830,525,990
2021 $1,908,094,558 $373,784,553,030
2020 $1,705,057,581 $337,456,163,961
2019 $1,596,227,316 $365,177,721,022
2018 $1,554,133,594 $358,788,845,713
2017 $1,469,978,606 $319,109,094,160
2016 $1,245,074,264 $301,256,033,870
2015 $1,152,384,167 $301,355,266,965
2014 $1,135,250,721 $338,066,095,097
2013 $1,109,682,824 $323,276,235,524
2012 $1,049,412,177 $314,443,047,642
2011 $1,157,074,319 $297,951,668,675
2010 $940,112,539 $255,017,638,456
2009 $890,167,833 $202,257,453,037
2008 $952,667,544 $230,811,614,370
2007 $753,162,998 $193,549,569,478
2006 $634,781,901 $162,692,258,307
2005 $639,776,041 $143,534,405,819
2004 $582,169,841 $124,749,473,684
2003 $553,614,800 $110,202,368,421
2002 $466,773,711 $100,845,526,316
2001 $412,610,872 $92,783,947,368
2000 $391,345,597 $93,789,736,842
1999 $579,365,780 $79,148,421,053
1998 $591,034,143 $72,167,498,981
1997 $698,107,222 $100,005,323,302
1996 $702,965,148 $100,855,393,910
1995 $660,195,402 $88,705,342,903
1994 $612,502,085 $74,478,356,958
1993 $615,779,519 $66,894,966,969
1992 $588,309,271 $59,167,550,163
1991 $668,470,891 $49,143,148,094
1990 $634,187,269 $44,024,585,240
1989 $554,072,303 $38,847,965,293
1988 $427,514,322 $35,272,109,220
1987 $451,893,375 $32,181,210,158
1986 $338,524,233 $27,734,111,400
1985 $373,959,151 $31,199,633,353
1984 $359,980,491 $33,942,897,422
1983 $425,225,177 $30,347,442,111
1982 $430,284,022 $26,804,493,635
1981 $402,230,865 $25,004,285,792
1980 $287,648,258 $24,488,224,677
1979 $308,143,183 $21,213,264,962
1978 $318,876,550 $16,358,079,862
1977 $298,871,675 $13,139,488,633
1976 $292,152,321 $11,050,234,599
1975 $283,311,997 $9,298,800,799
1974 $256,769,730 $9,496,204,302
1973 $232,331,281 $7,662,902,678
1972 $227,986,203 $5,043,347,250
1971 $204,167,297 $4,244,395,956
1970 $204,670,551 $3,864,145,667
1969 - $3,664,552,041
1968 - $3,330,371,551
1967 - $3,188,924,677
1966 - $3,143,517,944
1965 - $2,956,337,669
1964 - $2,674,423,922
1963 - $2,510,110,348
1962 - $2,001,489,602
1961 - $1,901,856,123
1960 - $1,916,229,477

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

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

GDP per capita in Guinea-Bissau vs Malaysia by year

Guinea-Bissau
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea-Bissau Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,008 $3,119 $11,874 $38,779
2023 $988 $2,990 $11,386 $36,467
2022 $883 $2,789 $11,755 $34,420
2021 $927 $2,523 $10,903 $29,823
2020 $847 $2,340 $9,958 $27,475
2019 $811 $2,247 $10,920 $28,934
2018 $809 $2,058 $10,902 $27,794
2017 $783 $2,082 $9,863 $26,416
2016 $680 $1,824 $9,477 $25,286
2015 $645 $1,730 $9,649 $24,526
2014 $652 $1,456 $11,013 $24,307
2013 $654 $1,416 $10,714 $23,161
2012 $635 $1,402 $10,601 $22,639
2011 $720 $1,472 $10,217 $21,324
2010 $600 $1,370 $8,899 $20,193
2009 $583 $1,315 $7,191 $18,923
2008 $640 $1,309 $8,372 $19,480
2007 $519 $1,260 $7,169 $18,617
2006 $449 $1,226 $6,158 $17,426
2005 $463 $1,187 $5,556 $16,371
2004 $431 $1,105 $4,939 $15,416
2003 $420 $1,089 $4,465 $14,387
2002 $362 $1,095 $4,184 $13,656
2001 $327 $1,064 $3,944 $13,072
2000 $317 $1,014 $4,084 $13,027
1999 $479 $1,001 $3,528 $11,980
1998 $498 $861 $3,294 $11,398
1997 $599 $1,118 $4,679 $12,469
1996 $615 $1,052 $4,837 $11,709
1995 $589 $945 $4,363 $10,720
1994 $561 $909 $3,758 $9,806
1993 $582 $890 $3,462 $9,018
1992 $574 $880 $3,141 $8,224
1991 $672 $877 $2,679 $7,583
1990 $651 $824 $2,469 $6,887
1989 $578 - $2,244 -
1988 $454 - $2,100 -
1987 $488 - $1,977 -
1986 $371 - $1,760 -
1985 $417 - $2,046 -
1984 $407 - $2,300 -
1983 $489 - $2,124 -
1982 $503 - $1,938 -
1981 $477 - $1,866 -
1980 $347 - $1,886 -
1979 $376 - $1,680 -
1978 $403 - $1,327 -
1977 $403 - $1,092 -
1976 $421 - $940 -
1975 $435 - $811 -
1974 $419 - $848 -
1973 $392 - $701 -
1972 $389 - $472 -
1971 $348 - $407 -
1970 $350 - $380 -
1969 - - $368 -
1968 - - $342 -
1967 - - $335 -
1966 - - $339 -
1965 - - $326 -
1964 - - $303 -
1963 - - $291.8 -
1962 - - $238.8 -
1961 - - $232.9 -
1960 - - $240.8 -

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

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

Guinea-Bissau's GDP per capita is $1,008, ranking 177/197, compared to $11,874 in Malaysia, ranking 79/197. Adjusted for purchasing power (GDP per capita PPP), Guinea-Bissau ranks 179th at $3,119, while Malaysia ranks 60th at $38,779.

Economic indicators

Guinea-Bissau Malaysia
Gross domestic product
$2.22B
2024
$422B
2024
GDP rank
176/197
2024
38/197
2024
GDP growth
4.15%
2023-2024
5.11%
2023-2024
GDP per capita
$1,008
2024
$11,874
2024
GDP per capita rank
177/197
2024
79/197
2024
GDP per capita, PPP
$3,119
2024
$38,779
2024
GDP per capita PPP rank
179/197
2024
60/197
2024
Government debt
$1.82B
2024
$296B
2024
Debt-to-GDP ratio
82.2%
2024
70.1%
2024
Government debt per person
$828
2024
$8,322
2024
Government debt per person rank
146/185
2024
62/185
2024
Average annual personal income after taxes
$1,711
2026
$11,005
2026
Market capitalization of domestic companies n/a
$449B
2024
Number of billionaires n/a
19
2025
Income share by richest 10%
26.1%
2021
30.9%
2021
Income share by poorest 10%
3.4%
2021
2.3%
2021
Government expenditure, % of GDP
20.4%
2024
23.9%
2024
Consumer prices inflation
3.7%
2023-2024
1.83%
2023-2024
Central bank interest rate n/a
2.75%
2025
Unemployment rate
2.67%
2022
3.93%
2022
Population
2311915
36512221

Spending and national debt comparison by year

Guinea-Bissau
Spending

Debt
Malaysia
Spending

Debt
1x
Year % of GDP
Guinea-Bissau Malaysia
Government spending Government debt Government spending Government debt
2024 20.4% 82.2% 23.9% 70.1%
2023 21.9% 79.4% 24.9% 69.7%
2022 21.3% 80.7% 24.6% 65.5%
2021 25% 78.8% 24.5% 69.2%
2020 25% 77.6% 25% 67.7%
2019 18.8% 65.1% 23.6% 57.1%
2018 19.5% 59.1% 22.8% 55.6%
2017 18.1% 51.8% 22% 54.4%
2016 20.5% 59.1% 22.9% 55.8%
2015 21.5% 56.3% 24.7% 57%
2014 23% 60.1% 26% 55.4%
2013 12.4% 49.6% 27.8% 55.7%
2012 13% 47.4% 28.5% 53.8%
2011 17.3% 45.6% 27.1% 51.9%
2010 18.5% 61.7% 26.6% 51.2%
2009 20.6% 148.3% 30.9% 50.4%
2008 21.8% 148.8% 26.9% 39.4%
2007 23.7% 164% 25.9% 39.3%
2006 19.8% 190.4% 25.6% 39.7%
2005 20.2% 203.7% 24.5% 40.8%
2004 23% 202% 25.9% 42%
2003 17% 183.4% 28.1% 41.4%
2002 14.1% 197.5% 27.1% 39.5%
2001 19.1% 204.4% 28.2% 38.1%
2000 23.5% 217.1% 25.6% 32.5%
1999 12.1% 109.9% 24.6% 34.4%
1998 8.72% 109.1% 23.1% 33.6%
1997 12.7% 94.3% 21.2% 29.6%
1996 8.93% 117.3% 22.4% 32.8%
1995 8.14% 103.3% 22.6% 38.2%
1994 18.4% 105.5% 23.3% 43.7%
1993 13.1% 112.4% 24.6% 51.1%
1992 10.1% 85.3% 28.2% 59.1%
1991 9.19% 88.9% 27.4% 67.3%
1990 - - 30.5% 74.1%

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/malaysia | CC BY

In 2024, Guinea-Bissau's government spending was $452M, accounting for 20.4% of its GDP, while Malaysia spent $101B, or 23.9% of GDP.

Debt-to-GDP ratio is 82.2% in Guinea-Bissau and 70.1% in Malaysia, ranking 41/185 and 58/185, respectively.

Government deficit by year

Deficit/surplus
Guinea-Bissau

Malaysia
1x
Year Deficit/surplus, % of GDP
Guinea-Bissau Malaysia
2024 -7.26% -3.95%
2023 -8.15% -3.97%
2022 -6.06% -4.56%
2021 -5.88% -6.03%
2020 -9.64% -4.9%
2019 -3.86% -2.01%
2018 -4.76% -2.64%
2017 -1.32% -2.41%
2016 -5.34% -2.6%
2015 -3.16% -2.55%
2014 -2.44% -2.63%
2013 -1.67% -3.48%
2012 -2.12% -3.1%
2011 -1.35% -3.57%
2010 -0.23% -4.32%
2009 2.68% -5.88%
2008 -0.73% -3.4%
2007 -8.77% -2.57%
2006 -4.57% -2.6%
2005 -4.96% -2.83%
2004 -5.92% -3.35%
2003 -5.63% -4.6%
2002 -3.7% -3.96%
2001 -1.83% -4.36%
2000 -2.8% -6.05%
1999 -4.06% -3%
1998 -5.95% -0.63%
1997 -2.56% 4.84%
1996 3.48% 3.27%
1995 2.45% 3.1%
1994 -5.54% 5.45%
1993 -0.34% 3.44%
1992 -0.25% 1.81%
1991 1.61% 1.6%
1990 - 0.15%

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

GeoRank.org/economy/guinea-bissau/malaysia | 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 Malaysia's deficit of $16.7B, or 3.95% of GDP.

Over the past 34 years, Guinea-Bissau recorded a fiscal deficit in 30 of those years, while Malaysia ran a deficit in 27 years. On average, Guinea-Bissau posted an annual deficit equal to 3.25% of GDP, compared to deficit of 2.13% of GDP for Malaysia.

Inflation comparison by year

Inflation
Guinea-Bissau

Malaysia
1x
Year Consumer prices inflation
Guinea-Bissau Malaysia
2024 3.7% 1.83%
2023 7.2% 2.49%
2022 7.9% 3.38%
2021 3.3% 2.48%
2020 1.5% -1.14%
2019 0.3% 0.66%
2018 0.4% 0.88%
2017 -0.2% 3.87%
2016 2.7% 2.09%
2015 1.5% 2.1%
2014 -1% 3.14%
2013 0.8% 2.11%
2012 2.1% 1.66%
2011 5.1% 3.17%
2010 1.1% 1.62%
2009 -1.6% 0.58%
2008 10.4% 5.44%
2007 4.6% 2.03%
2006 2% 3.61%
2005 3.4% 2.98%
2004 0.8% 1.42%
2003 -3.5% 1.09%
2002 3.3% 1.81%
2001 3.3% 1.42%
2000 8.6% 1.53%
1999 -2.1% 2.74%
1998 8.1% 5.27%
1997 49.1% 2.66%

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/malaysia | CC BY

Over the past 28 years, Guinea-Bissau has recorded an average annual inflation rate of 4.39%, compared with 2.25% in Malaysia. In 2024, inflation was 3.7% in Guinea-Bissau and 1.83% in Malaysia.

Top exports between countries

Guinea-Bissau
Export category Export value
Malaysia
Export category Export value
Processed food, beverages & tobacco $824K
Chemicals & pharma $86K
Animal & marine products $60K
Machinery & equipment $29K
Textiles & consumer goods $17K
Raw materials & minerals $8K
Miscellaneous $3K
Precious metals & jewellery $1K
Raw agricultural goods $1K
Wood & paper products $1K

Balance of trade

Guinea-Bissau Malaysia
Current account balance
-$160M
2023
$7.15B
2024
Current account balance ranking
95/190
2023
26/190
2024
Current account balance, % of GDP
-7.53%
2023
+1.69%
2024
Goods imports
$403M
2023
$223B
2024
Goods exports
$240M
2023
$248B
2024
Service imports
$189M
2023
$56.4B
2024
Service exports
$44.8M
2023
$53.4B
2024
Imports of goods and services, % of GDP
27%
2024
66%
2024
Exports of goods and services, % of GDP
11.8%
2024
71.3%
2024

Economic freedom indices

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

Guinea-Bissau Malaysia
Economic freedom 43.2 68
Economic freedom ranking 181/197 51/197
Property rights 28.4 62.7
Government integrity 21 52.9
Judicial effectiveness 13.2 63.4
Tax burden 89 83.5
Government spending 86.5 82
Fiscal health 6.5 62.5
Business freedom 34.6 79.6
Labor freedom 55.9 55.4
Monetary freedom 75.9 80.8
Trade freedom 47 83
Investment freedom 30 60
Financial freedom 30 50

Economic freedom comparison by year

Guinea-Bissau
Malaysia
1x
Year Economic freedom index
Guinea-Bissau Malaysia
2026 43.2 68
2025 43.6 67.1
2024 42.7 65.7
2023 44.6 67.3
2022 46 68.1
2021 54.9 74.4
2020 53.3 74.7
2019 54 74
2018 56.9 74.5
2017 56.1 73.8
2016 51.8 71.5
2015 52 70.8
2014 51.3 69.6
2013 51.1 66.1
2012 50.1 66.4
2011 46.5 66.3
2010 43.6 64.8
2009 45.4 64.6
2008 44.4 63.9
2007 46.1 63.8
2006 46.5 61.6
2005 46 61.9
2004 42.6 59.9
2003 43.1 61.1
2002 42.3 60.1
2001 42.5 60.2
2000 34.7 66
1999 33.5 68.9
1998 - 68.2
1997 - 66.8
1996 - 69.9
1995 - 71.9

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

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

The Economic Freedom Index for Guinea-Bissau is 43.2, ranking 181/197, compared to 68 for Malaysia, ranking 51/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea-Bissau Malaysia
Services, % of GDP
37.9%
2024
53.7%
2024
Industry, % of GDP
15.6%
2024
37%
2024
Agriculture, forestry, and fishing, % of GDP
42.2%
2024
8.13%
2024
GNI, Atlas method
$2.18B
2024
$414B
2024
GNI per capita, PPP
$3,140
2024
$37,450
2024
Total reserves including gold n/a
$116B
2024
Total reserves ranking n/a
24/177
2024
Net foreign direct investment
-$24.8M
2023
-$2.55B
2024
Net inflows of foreign direct investment
$26.7M
2024
$15.6B
2024
Net outflows of foreign direct investment
$389K
2024
$13B
2024
Servicing debt to the IMF, % of GNI
1.75%
2024
n/a
Poverty at national poverty lines
50.5%
2021
5.8%
2023
Gross capital formation, % of GDP
24.9%
2024
22%
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/malaysia | 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. 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.