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

Updated on by Georank team

Guinea-Bissau has a GDP of $2.22B compared to $383B for Romania, ranking 176/197 and 42/197 by economy size, respectively.

Guinea-Bissau has $1.82B in government debt (82.2% of GDP), compared to $220B (57.4% of GDP) in Romania.

Guinea-Bissau vs Romania GDP by year

Guinea-Bissau
Romania
1x
Year GDP, current $
Guinea-Bissau Romania
2024 $2,218,393,805 $382,564,217,989
2023 $2,127,688,181 $347,757,995,759
2022 $1,859,601,384 $295,319,437,557
2021 $1,908,094,558 $285,071,280,114
2020 $1,705,057,581 $250,625,048,304
2019 $1,596,227,316 $250,080,428,512
2018 $1,554,133,594 $241,791,427,224
2017 $1,469,978,606 $210,147,385,855
2016 $1,245,074,264 $185,290,759,249
2015 $1,152,384,167 $177,885,131,240
2014 $1,135,250,721 $199,722,319,676
2013 $1,109,682,824 $189,798,603,751
2012 $1,049,412,177 $179,117,323,107
2011 $1,157,074,319 $192,623,977,894
2010 $940,112,539 $170,064,350,672
2009 $890,167,833 $174,110,532,659
2008 $952,667,544 $214,315,932,061
2007 $753,162,998 $174,588,782,939
2006 $634,781,901 $122,023,735,993
2005 $639,776,041 $98,454,380,120
2004 $582,169,841 $74,973,656,852
2003 $553,614,800 $57,806,384,143
2002 $466,773,711 $46,065,502,703
2001 $412,610,872 $40,395,116,581
2000 $391,345,597 $37,253,739,511
1999 $579,365,780 $35,953,156,754
1998 $591,034,143 $41,696,091,974
1997 $698,107,222 $35,575,214,078
1996 $702,965,148 $36,937,074,278
1995 $660,195,402 $37,430,162,103
1994 $612,502,085 $30,072,805,104
1993 $615,779,519 $26,361,160,450
1992 $588,309,271 $25,121,666,667
1991 $668,470,891 $28,850,634,900
1990 $634,187,269 $38,247,882,300
1989 $554,072,303 $41,450,777,202
1988 $427,514,322 $40,424,528,302
1987 $451,893,375 $38,067,567,568
1986 $338,524,233 -
1985 $373,959,151 -
1984 $359,980,491 -
1983 $425,225,177 -
1982 $430,284,022 -
1981 $402,230,865 -
1980 $287,648,258 -
1979 $308,143,183 -
1978 $318,876,550 -
1977 $298,871,675 -
1976 $292,152,321 -
1975 $283,311,997 -
1974 $256,769,730 -
1973 $232,331,281 -
1972 $227,986,203 -
1971 $204,167,297 -
1970 $204,670,551 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

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

GDP per capita in Guinea-Bissau vs Romania by year

Guinea-Bissau
GDP per capita

GDP per capita, PPP
Romania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea-Bissau Romania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,008 $3,119 $20,080 $49,077
2023 $988 $2,990 $18,244 $45,982
2022 $883 $2,789 $15,504 $41,979
2021 $927 $2,523 $14,908 $37,534
2020 $847 $2,340 $13,009 $34,194
2019 $811 $2,247 $12,910 $33,425
2018 $809 $2,058 $12,416 $29,383
2017 $783 $2,082 $10,728 $26,943
2016 $680 $1,824 $9,405 $23,905
2015 $645 $1,730 $8,977 $21,625
2014 $652 $1,456 $10,032 $20,633
2013 $654 $1,416 $9,498 $19,678
2012 $635 $1,402 $8,930 $19,808
2011 $720 $1,472 $9,561 $18,804
2010 $600 $1,370 $8,400 $17,355
2009 $583 $1,315 $8,548 $16,641
2008 $640 $1,309 $10,435 $16,782
2007 $519 $1,260 $8,360 $13,703
2006 $449 $1,226 $5,758 $11,554
2005 $463 $1,187 $4,618 $9,602
2004 $431 $1,105 $3,495 $8,989
2003 $420 $1,089 $2,679 $7,559
2002 $362 $1,095 $2,120 $7,162
2001 $327 $1,064 $1,825 $6,520
2000 $317 $1,014 $1,660 $5,850
1999 $479 $1,001 $1,600 $5,596
1998 $498 $861 $1,853 $5,545
1997 $599 $1,118 $1,577 $5,564
1996 $615 $1,052 $1,633 $5,746
1995 $589 $945 $1,650 $5,429
1994 $561 $909 $1,323 $4,995
1993 $582 $890 $1,158 $4,699
1992 $574 $880 $1,102 $4,515
1991 $672 $877 $1,254 $4,795
1990 $651 $824 $1,648 $5,280
1989 $578 - $1,790 -
1988 $454 - $1,753 -
1987 $488 - $1,659 -
1986 $371 - - -
1985 $417 - - -
1984 $407 - - -
1983 $489 - - -
1982 $503 - - -
1981 $477 - - -
1980 $347 - - -
1979 $376 - - -
1978 $403 - - -
1977 $403 - - -
1976 $421 - - -
1975 $435 - - -
1974 $419 - - -
1973 $392 - - -
1972 $389 - - -
1971 $348 - - -
1970 $350 - - -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

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

Guinea-Bissau's GDP per capita is $1,008, ranking 177/197, compared to $20,080 in Romania, ranking 58/197. Adjusted for purchasing power (GDP per capita PPP), Guinea-Bissau ranks 179th at $3,119, while Romania ranks 47th at $49,077.

Economic indicators

Guinea-Bissau Romania
Gross domestic product
$2.22B
2024
$383B
2024
GDP rank
176/197
2024
42/197
2024
GDP growth
4.15%
2023-2024
0.92%
2023-2024
GDP per capita
$1,008
2024
$20,080
2024
GDP per capita rank
177/197
2024
58/197
2024
GDP per capita, PPP
$3,119
2024
$49,077
2024
GDP per capita PPP rank
179/197
2024
47/197
2024
Government debt
$1.82B
2024
$220B
2024
Debt-to-GDP ratio
82.2%
2024
57.4%
2024
Government debt per person
$828
2024
$11,533
2024
Government debt per person rank
146/185
2024
48/185
2024
Average annual personal income after taxes
$1,711
2026
$13,912
2026
Market capitalization of domestic companies n/a
$47.4B
2024
Number of billionaires n/a
6
2025
Income share by richest 10%
26.1%
2021
21.8%
2023
Income share by poorest 10%
3.4%
2021
2.4%
2023
Government expenditure, % of GDP
20.4%
2024
39.9%
2024
Consumer prices inflation
3.7%
2023-2024
5.6%
2023-2024
Central bank interest rate n/a
6.5%
2024
Unemployment rate
2.67%
2022
5.43%
2024
Population
2311915
18839108

Spending and national debt comparison by year

Guinea-Bissau
Spending

Debt
Romania
Spending

Debt
1x
Year % of GDP
Guinea-Bissau Romania
Government spending Government debt Government spending Government debt
2024 20.4% 82.2% 39.9% 57.4%
2023 21.9% 79.4% 36.6% 52.1%
2022 21.3% 80.7% 37.4% 51.7%
2021 25% 78.8% 37% 51.5%
2020 25% 77.6% 38.1% 49.3%
2019 18.8% 65.1% 33.2% 36.5%
2018 19.5% 59.1% 31.7% 36.2%
2017 18.1% 51.8% 31% 37.1%
2016 20.5% 59.1% 31.8% 39.5%
2015 21.5% 56.3% 34.2% 39.4%
2014 23% 60.1% 33.8% 40.5%
2013 12.4% 49.6% 34.2% 39.3%
2012 13% 47.4% 33.5% 36.2%
2011 17.3% 45.6% 35% 32.6%
2010 18.5% 61.7% 37.4% 30.2%
2009 20.6% 148.3% 36.3% 22.5%
2008 21.8% 148.8% 35.3% 13%
2007 23.7% 164% 34.6% 12.4%
2006 19.8% 190.4% 33.9% 12.7%
2005 20.2% 203.7% 32.3% 17.8%
2004 23% 202% 33.7% 21.3%
2003 17% 183.4% 31.8% 24.9%
2002 14.1% 197.5% 32.1% 27.4%
2001 19.1% 204.4% 33.2% 27.4%
2000 23.5% 217.1% 35% 29.6%
1999 12.1% 109.9% 35.1% 21.7%
1998 8.72% 109.1% 34.7% 16.5%
1997 12.7% 94.3% 33.5% 15%
1996 8.93% 117.3% 33.5% 11%
1995 8.14% 103.3% 34.4% 6.91%
1994 18.4% 105.5% 33.1% -
1993 13.1% 112.4% 33.5% -
1992 10.1% 85.3% 41.5% -
1991 9.19% 88.9% 38.3% -
1990 - - 38.4% -
1989 - - 40.1% -
1988 - - 36.6% -
1987 - - 40.7% -
1986 - - 42.5% -
1985 - - 41.6% -
1984 - - 28.6% -
1983 - - 25.8% -
1982 - - 28.5% -
1981 - - 30.4% -
1980 - - 33.6% -
1979 - - 42% -
1978 - - 42.1% -
1977 - - 39.9% -
1976 - - 37.5% -
1975 - - 40.6% -
1974 - - 37.6% -
1973 - - 32.6% -
1972 - - 29.9% -
1971 - - 27.2% -
1970 - - 28.1% -
1969 - - 32.1% -
1968 - - 31.8% -
1967 - - 30.6% -
1966 - - 27.3% -
1965 - - 25.6% -
1964 - - 25.1% -
1963 - - 23.1% -
1962 - - 43.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-02-20).

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

In 2024, Guinea-Bissau's government spending was $452M, accounting for 20.4% of its GDP, while Romania spent $153B, or 39.9% of GDP.

Debt-to-GDP ratio is 82.2% in Guinea-Bissau and 57.4% in Romania, ranking 41/185 and 87/185, respectively.

Government deficit by year

Deficit/surplus
Guinea-Bissau

Romania
1x
Year Deficit/surplus, % of GDP
Guinea-Bissau Romania
2024 -7.26% -8.68%
2023 -8.15% -5.61%
2022 -6.06% -5.83%
2021 -5.88% -6.7%
2020 -9.64% -9.54%
2019 -3.86% -4.55%
2018 -4.76% -2.74%
2017 -1.32% -2.86%
2016 -5.34% -2.5%
2015 -3.16% -1.35%
2014 -2.44% -1.76%
2013 -1.67% -2.44%
2012 -2.12% -2.39%
2011 -1.35% -4.14%
2010 -0.23% -6.22%
2009 2.68% -6.86%
2008 -0.73% -4.6%
2007 -8.77% -3.05%
2006 -4.57% -1.36%
2005 -4.96% -0.69%
2004 -5.92% -3.39%
2003 -5.63% -2.29%
2002 -3.7% -2.59%
2001 -1.83% -3.2%
2000 -2.8% -3.99%
1999 -4.06% -3.58%
1998 -5.95% -5.33%
1997 -2.56% -5.19%
1996 3.48% -4.74%
1995 2.45% -3.32%
1994 -5.54% -2.2%
1993 -0.34% -0.35%
1992 -0.25% -4.55%
1991 1.61% 3.23%
1990 - 1.03%
1989 - -2.87%
1988 - 8.4%
1987 - 2.37%
1986 - 5.72%
1985 - 6.36%
1984 - 15.2%
1983 - 9.35%
1982 - 0.36%
1981 - 0.61%
1980 - -1.95%
1979 - 0%
1978 - 0%
1977 - 0.23%
1976 - 0.66%
1975 - 0.41%
1974 - 0.51%
1973 - 1.53%
1972 - 1.21%
1971 - 0.89%
1970 - 0.52%
1969 - 0.93%
1968 - 1.65%
1967 - 1.23%
1966 - 0.91%
1965 - -1.29%
1964 - -3.11%
1963 - -1.61%
1962 - -4.86%

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/romania | 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 Romania's deficit of $33.2B, or 8.68% of GDP.

Over the past 34 years, Guinea-Bissau recorded a fiscal deficit in 30 of those years, while Romania ran a deficit in 33 years. On average, Guinea-Bissau posted an annual deficit equal to 3.25% of GDP, compared to deficit of 3.69% of GDP for Romania.

Inflation comparison by year

Inflation
Guinea-Bissau

Romania
1x
Year Consumer prices inflation
Guinea-Bissau Romania
2024 3.7% 5.6%
2023 7.2% 10.4%
2022 7.9% 13.8%
2021 3.3% 5%
2020 1.5% 2.6%
2019 0.3% 3.8%
2018 0.4% 4.6%
2017 -0.2% 1.3%
2016 2.7% -1.6%
2015 1.5% -0.6%
2014 -1% 1.1%
2013 0.8% 4%
2012 2.1% 3.3%
2011 5.1% 5.8%
2010 1.1% 6.1%
2009 -1.6% 5.6%
2008 10.4% 7.8%
2007 4.6% 4.8%
2006 2% 6.6%
2005 3.4% 9%
2004 0.8% 11.9%
2003 -3.5% 15.4%
2002 3.3% 22.5%
2001 3.3% 34.5%
2000 8.6% 45.7%
1999 -2.1% 45.8%
1998 8.1% 59.1%
1997 49.1% 154.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

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

Over the past 28 years, Guinea-Bissau has recorded an average annual inflation rate of 4.39%, compared with 17.5% in Romania. In 2024, inflation was 3.7% in Guinea-Bissau and 5.6% in Romania.

Top exports between countries

Guinea-Bissau
Export category Export value
Romania
Export category Export value
Wood & paper products $106K
Machinery & equipment $16K
Metals $14K
Textiles & consumer goods $8K
Chemicals & pharma $4K
Miscellaneous $3K
Precious metals & jewellery $1K
Raw agricultural goods $1K

Balance of trade

Guinea-Bissau Romania
Current account balance
-$160M
2023
-$31.2B
2024
Current account balance ranking
95/190
2023
185/190
2024
Current account balance, % of GDP
-7.53%
2023
-8.16%
2024
Goods imports
$403M
2023
$129B
2024
Goods exports
$240M
2023
$93.3B
2024
Service imports
$189M
2023
$30.2B
2024
Service exports
$44.8M
2023
$42.9B
2024
Imports of goods and services, % of GDP
27%
2024
41.6%
2024
Exports of goods and services, % of GDP
11.8%
2024
35.6%
2024

Economic freedom indices

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

Guinea-Bissau Romania
Economic freedom 43.2 65.4
Economic freedom ranking 181/197 64/197
Property rights 28.4 81
Government integrity 21 50
Judicial effectiveness 13.2 67
Tax burden 89 89.1
Government spending 86.5 56.7
Fiscal health 6.5 21.4
Business freedom 34.6 74.4
Labor freedom 55.9 63.6
Monetary freedom 75.9 72.7
Trade freedom 47 79.4
Investment freedom 30 70
Financial freedom 30 60

Economic freedom comparison by year

Guinea-Bissau
Romania
1x
Year Economic freedom index
Guinea-Bissau Romania
2026 43.2 65.4
2025 43.6 66.5
2024 42.7 64.4
2023 44.6 64.5
2022 46 67.1
2021 54.9 69.5
2020 53.3 69.7
2019 54 68.6
2018 56.9 69.4
2017 56.1 69.7
2016 51.8 65.6
2015 52 66.6
2014 51.3 65.5
2013 51.1 65.1
2012 50.1 64.4
2011 46.5 64.7
2010 43.6 64.2
2009 45.4 63.2
2008 44.4 61.7
2007 46.1 61.2
2006 46.5 58.2
2005 46 52.1
2004 42.6 50
2003 43.1 50.6
2002 42.3 48.7
2001 42.5 50
2000 34.7 52.1
1999 33.5 50.1
1998 - 54.4
1997 - 50.8
1996 - 46.2
1995 - 42.9

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

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

The Economic Freedom Index for Guinea-Bissau is 43.2, ranking 181/197, compared to 65.4 for Romania, ranking 64/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea-Bissau Romania
Services, % of GDP
37.9%
2024
62.6%
2024
Industry, % of GDP
15.6%
2024
25.3%
2024
Agriculture, forestry, and fishing, % of GDP
42.2%
2024
2.81%
2024
GNI, Atlas method
$2.18B
2024
$335B
2024
GNI per capita, PPP
$3,140
2024
$47,920
2024
Total reserves including gold n/a
$73.4B
2024
Total reserves ranking n/a
35/177
2024
Net foreign direct investment
-$24.8M
2023
-$5.17B
2024
Net inflows of foreign direct investment
$26.7M
2024
$7.16B
2024
Net outflows of foreign direct investment
$389K
2024
$1.99B
2024
Servicing debt to the IMF, % of GNI
1.75%
2024
n/a
Poverty at national poverty lines
50.5%
2021
19%
2023
Gross capital formation, % of GDP
24.9%
2024
25%
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/romania | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2024, 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 (1962–1999, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  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.