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

Updated on by Georank

Guinea-Bissau has a GDP of $2.53B compared to $16.4B for Rwanda, ranking 176/197 and 142/197 by economy size, respectively.

Guinea-Bissau has $1.9B in government debt (75.3% of GDP), compared to $10.6B (64.6% of GDP) in Rwanda.

Guinea-Bissau vs Rwanda GDP by year

Guinea-Bissau
Rwanda
1x
Year GDP, current $
Guinea-Bissau Rwanda
2025 $2,527,930,273 $16,372,132,990
2024 $2,197,777,210 $15,111,064,182
2023 $2,076,748,678 $14,806,501,437
2022 $1,856,239,955 $13,747,404,814
2021 $1,907,611,288 $11,252,894,910
2020 $1,705,062,170 $10,487,146,253
2019 $1,596,214,680 $10,519,272,170
2018 $1,554,133,594 $9,650,161,136
2017 $1,469,978,606 $9,164,345,443
2016 $1,245,074,264 $8,596,812,241
2015 $1,152,384,167 $8,447,064,079
2014 $1,135,250,721 $8,129,984,484
2013 $1,109,682,824 $7,714,276,920
2012 $1,049,412,177 $7,556,673,276
2011 $1,157,074,319 $6,802,676,034
2010 $940,112,539 $6,052,276,078
2009 $890,167,833 $5,603,399,015
2008 $952,667,544 $5,120,655,375
2007 $753,162,998 $4,017,977,507
2006 $634,781,901 $3,274,207,945
2005 $639,776,041 $2,933,819,766
2004 $582,169,841 $2,376,496,067
2003 $553,614,800 $2,138,237,279
2002 $466,773,711 $1,966,003,468
2001 $412,610,872 $1,966,600,715
2000 $391,345,597 $2,068,836,754
1999 $579,365,780 $2,157,108,263
1998 $591,034,143 $1,989,343,546
1997 $698,107,222 $1,851,558,197
1996 $702,965,148 $1,382,334,879
1995 $660,195,402 $1,293,535,193
1994 $612,502,085 $753,636,370
1993 $615,779,519 $1,971,525,712
1992 $588,309,271 $2,029,026,962
1991 $668,470,891 $1,911,600,237
1990 $634,187,269 $2,550,185,679
1989 $554,072,303 $2,405,022,593
1988 $427,514,322 $2,395,492,687
1987 $451,893,375 $2,157,432,668
1986 $338,524,233 $1,944,710,684
1985 $373,959,151 $1,715,626,331
1984 $359,980,491 $1,587,413,084
1983 $425,225,177 $1,479,687,587
1982 $430,284,022 $1,407,243,139
1981 $402,230,865 $1,407,062,527
1980 $287,648,258 $1,254,765,642
1979 $308,143,183 $1,109,346,131
1978 $318,876,550 $905,709,076
1977 $298,871,675 $746,650,613
1976 $292,152,321 $637,753,853
1975 $283,311,997 $571,863,500
1974 $256,769,730 $308,458,423
1973 $232,331,281 $290,746,157
1972 $227,986,203 $246,457,838
1971 $204,167,297 $222,952,504
1970 $204,670,551 $219,900,006
1969 - $188,700,037
1968 - $172,200,018
1967 - $159,560,018
1966 - $124,525,703
1965 - $148,799,980
1964 - $129,999,994
1963 - $128,000,000
1962 - $125,000,008
1961 - $122,000,016
1960 - $119,000,024

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Guinea-Bissau vs Rwanda by year

Guinea-Bissau
GDP per capita

GDP per capita, PPP
Rwanda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea-Bissau Rwanda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $1,124 - $1,124 -
2024 $998 $3,119 $1,060 $3,711
2023 $964 $2,990 $1,061 $3,399
2022 $882 $2,789 $1,007 $3,099
2021 $927 $2,523 $843 $2,733
2020 $847 $2,340 $803 $2,285
2019 $811 $2,247 $823 $2,336
2018 $809 $2,058 $773 $2,125
2017 $783 $2,082 $751 $1,968
2016 $680 $1,824 $721 $1,866
2015 $645 $1,730 $726 $1,781
2014 $652 $1,456 $715 $1,678
2013 $654 $1,416 $695 $1,512
2012 $635 $1,402 $698 $1,455
2011 $720 $1,472 $643 $1,413
2010 $600 $1,370 $587 $1,314
2009 $583 $1,315 $557 $1,241
2008 $640 $1,309 $522 $1,191
2007 $519 $1,260 $421 $1,079
2006 $449 $1,226 $352 $1,002
2005 $463 $1,187 $324 $914
2004 $431 $1,105 $269.5 $832
2003 $420 $1,089 $249 $775
2002 $362 $1,095 $234 $760
2001 $327 $1,064 $237.3 $670
2000 $317 $1,014 $251.9 $609
1999 $479 $1,001 $264.7 $554
1998 $498 $861 $246.2 $528
1997 $599 $1,118 $238.7 $500
1996 $615 $1,052 $206 $499
1995 $589 $945 $228 $514
1994 $561 $909 $111 $311
1993 $582 $890 $247 $521
1992 $574 $880 $264.1 $575
1991 $672 $877 $254 $542
1990 $651 $824 $346 $549
1989 $578 - $335 -
1988 $454 - $344 -
1987 $488 - $320 -
1986 $371 - $297.7 -
1985 $417 - $271.6 -
1984 $407 - $259.9 -
1983 $489 - $250.6 -
1982 $503 - $246.4 -
1981 $477 - $254.6 -
1980 $347 - $234.4 -
1979 $376 - $213.8 -
1978 $403 - $179.9 -
1977 $403 - $152.7 -
1976 $421 - $134.4 -
1975 $435 - $124.1 -
1974 $419 - $68.9 -
1973 $392 - $66.9 -
1972 $389 - $58.4 -
1971 $348 - $54.4 -
1970 $350 - $55.2 -
1969 - - $48.9 -
1968 - - $46 -
1967 - - $44 -
1966 - - $35.4 -
1965 - - $43.5 -
1964 - - $39 -
1963 - - $39.3 -
1962 - - $39.2 -
1961 - - $39.3 -
1960 - - $39.4 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Guinea-Bissau's GDP per capita is $1,124, ranking 177/197, compared to $1,124 in Rwanda, ranking 178/197. Adjusted for purchasing power (GDP per capita PPP), Guinea-Bissau ranks 179th at $3,119, while Rwanda ranks 168th at $3,711.

Economic indicators

Guinea-Bissau Rwanda
Gross domestic product
$2.53B
2025
$16.4B
2025
GDP rank
176/197
2025
142/197
2025
GDP growth
5.82%
2024-2025
9.38%
2024-2025
GDP per capita
$1,124
2025
$1,124
2025
GDP per capita rank
177/197
2025
178/197
2025
GDP per capita, PPP
$3,119
2024
$3,711
2024
GDP per capita PPP rank
179/197
2024
168/197
2024
Government debt
$1.9B
2025
$10.6B
2025
Debt-to-GDP ratio
75.3%
2025
64.6%
2025
Government debt per person
$846
2025
$726
2025
Government debt per person rank
149/185
2025
155/185
2025
Average annual personal income after taxes
$1,483
2026
$1,614
2026
Market capitalization of domestic companies n/a
$3.2B
2025
Income share by richest 10%
26.1%
2021
33.4%
2023
Income share by poorest 10%
3.4%
2021
3.1%
2023
Government expenditure, % of GDP
19.9%
2025
24.1%
2025
Consumer prices inflation
0.9%
2024-2025
5.91%
2024-2025
Central bank interest rate n/a
6.75%
2025
Unemployment rate
2.67%
2022
5.36%
2025
Population
2323460
15062056

Spending and national debt comparison by year

Guinea-Bissau
Spending

Debt
Rwanda
Spending

Debt
1x
Year % of GDP
Guinea-Bissau Rwanda
Government spending Government debt Government spending Government debt
2025 19.9% 75.3% 24.1% 64.6%
2024 20.4% 82.4% 27.1% 63.4%
2023 21.9% 79.4% 26.2% 61.4%
2022 21.3% 80.7% 28.7% 59%
2021 25% 78.8% 31% 66.2%
2020 25% 77.6% 32.5% 66.7%
2019 18.8% 65.1% 27.7% 52.8%
2018 19.5% 59.1% 26.3% 49.2%
2017 18.1% 51.8% 25.3% 46.1%
2016 20.5% 59.1% 25.4% 41.5%
2015 21.5% 56.3% 26.9% 33.5%
2014 23% 60.1% 27.8% 29.5%
2013 12.4% 49.6% 26.5% 27%
2012 13% 47.4% 24.9% 19.3%
2011 17.3% 45.6% 25% 18.9%
2010 18.5% 61.7% 24.1% 19%
2009 20.6% 148.3% 22.6% 18.7%
2008 21.8% 148.8% 22.7% 18.5%
2007 23.7% 164% 22.7% 22.4%
2006 19.8% 190.4% 20.9% 22.8%
2005 20.2% 203.7% 20.2% 59.8%
2004 23% 202% 18.1% 82.1%
2003 17% 183.4% 18.8% 80.7%
2002 14.1% 197.5% 20.7% 93.4%
2001 19.1% 204.4% 19.3% 85.2%
2000 23.5% 217.1% 18.5% 87.2%
1999 12.1% 109.9% 22.7% 79.5%
1998 8.72% 109.1% 16.6% 71.1%
1997 12.7% 94.3% 17.2% 73.3%
1996 8.93% 117.3% 19.8% 84.6%
1995 8.14% 103.3% 18.3% 102.2%
1994 18.4% 105.5% 13.5% -
1993 13.1% 112.4% 20.6% -
1992 10.1% 85.3% 21.8% -
1991 9.19% 88.9% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1991–1996, retrieved 2026-07-08).

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

In 2025, Guinea-Bissau's government spending was $502M, accounting for 19.9% of its GDP, while Rwanda spent $3.95B, or 24.1% of GDP.

Debt-to-GDP ratio is 75.3% in Guinea-Bissau and 64.6% in Rwanda, ranking 49/185 and 68/185, respectively.

Government deficit by year

Deficit/surplus
Guinea-Bissau

Rwanda
1x
Year Deficit/surplus, % of GDP
Guinea-Bissau Rwanda
2025 -6.69% -4.49%
2024 -7.26% -6.19%
2023 -8.15% -4.88%
2022 -6.06% -5.56%
2021 -5.88% -6.89%
2020 -9.64% -9.26%
2019 -3.86% -5%
2018 -4.76% -2.57%
2017 -1.32% -2.54%
2016 -5.34% -2.3%
2015 -3.16% -2.71%
2014 -2.44% -3.97%
2013 -1.67% -1.29%
2012 -2.12% -2.41%
2011 -1.35% -0.87%
2010 -0.23% -0.65%
2009 2.68% 0.26%
2008 -0.73% 0.84%
2007 -8.77% -1.58%
2006 -4.57% -0.03%
2005 -4.96% 1.14%
2004 -5.92% 2.31%
2003 -5.63% -1.25%
2002 -3.7% -2.06%
2001 -1.83% -1.83%
2000 -2.8% -0.22%
1999 -4.06% -4.48%
1998 -5.95% -2.63%
1997 -2.56% -2.25%
1996 3.48% -5.08%
1995 2.45% -2.07%
1994 -5.54% -9.68%
1993 -0.34% -6.7%
1992 -0.25% -7.31%
1991 1.61% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, retrieved 2026-07-08).

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

In 2025, Guinea-Bissau's government deficit, the difference between spending and revenue, was $169M, equivalent to 6.69% of GDP. This compares to Rwanda's deficit of $736M, or 4.49% of GDP.

Over the past 34 years, Guinea-Bissau recorded a fiscal deficit in 31 of those years, while Rwanda ran a deficit in 30 years. On average, Guinea-Bissau posted an annual deficit equal to 3.5% of GDP, compared to deficit of 3.06% of GDP for Rwanda.

Inflation comparison by year

Inflation
Guinea-Bissau

Rwanda
1x
Year Consumer prices inflation
Guinea-Bissau Rwanda
2025 0.9% 5.91%
2024 3.7% 1.77%
2023 7.2% 19.8%
2022 7.9% 17.7%
2021 3.3% -0.39%
2020 1.5% 9.85%
2019 0.3% 3.35%
2018 0.4% -0.31%
2017 -0.2% 8.28%
2016 2.7% 7.17%
2015 1.5% 2.53%
2014 -1% 2.35%
2013 0.8% 5.92%
2012 2.1% 10.3%
2011 5.1% 3.08%
2010 1.1% -0.25%
2009 -1.6% 12.9%
2008 10.4% 15.4%
2007 4.6% 9.08%
2006 2% 8.88%
2005 3.4% 9.01%
2004 0.8% 12.3%
2003 -3.5% 7.45%
2002 3.3% 1.99%
2001 3.3% 3.34%
2000 8.6% 3.9%
1999 -2.1% -2.41%
1998 8.1% 6.21%
1997 49.1% 12%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Guinea-Bissau has recorded an average annual inflation rate of 4.27%, compared with 6.8% in Rwanda. In 2025, inflation was 0.9% in Guinea-Bissau and 5.91% in Rwanda.

Top exports between countries

Guinea-Bissau
Export category Export value
Rwanda
Export category Export value
Miscellaneous $1K

Balance of trade

Guinea-Bissau Rwanda
Current account balance
-$162M
2024
-$1.81B
2024
Current account balance ranking
87/190
2024
136/190
2024
Current account balance, % of GDP
-7.36%
2024
-12%
2024
Goods imports
$414M
2024
$5.55B
2024
Goods exports
$229M
2024
$3.2B
2024
Service imports
$198M
2024
$991M
2024
Service exports
$51M
2024
$1.08B
2024
Imports of goods and services, % of GDP
27%
2025
35.1%
2025
Exports of goods and services, % of GDP
13.9%
2025
21.6%
2025

Economic freedom indices

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

Guinea-Bissau Rwanda
Economic freedom 43.2 56.5
Economic freedom ranking 181/197 121/197
Property rights 28.4 60.3
Government integrity 21 53.9
Judicial effectiveness 13.2 27.5
Tax burden 89 80.6
Government spending 86.5 75.7
Fiscal health 6.5 37.5
Business freedom 34.6 60.1
Labor freedom 55.9 49.1
Monetary freedom 75.9 72.3
Trade freedom 47 61.8
Investment freedom 30 60
Financial freedom 30 40

Economic freedom comparison by year

Guinea-Bissau
Rwanda
1x
Year Economic freedom index
Guinea-Bissau Rwanda
2026 43.2 56.5
2025 43.6 54.8
2024 42.7 51.6
2023 44.6 52.2
2022 46 57.1
2021 54.9 68.3
2020 53.3 70.9
2019 54 71.1
2018 56.9 69.1
2017 56.1 67.6
2016 51.8 63.1
2015 52 64.8
2014 51.3 64.7
2013 51.1 64.1
2012 50.1 64.9
2011 46.5 62.7
2010 43.6 59.1
2009 45.4 54.2
2008 44.4 54.2
2007 46.1 52.4
2006 46.5 52.8
2005 46 51.7
2004 42.6 53.3
2003 43.1 47.8
2002 42.3 50.4
2001 42.5 45.4
2000 34.7 42.3
1999 33.5 39.8
1998 - 39.1
1997 - 38.3

Data sources: The Heritage Foundation | Economic Freedom Index (1997–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Guinea-Bissau is 43.2, ranking 181/197, compared to 56.5 for Rwanda, ranking 121/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea-Bissau Rwanda
Services, % of GDP
39.1%
2025
52.3%
2025
Industry, % of GDP
15.7%
2025
22%
2025
Agriculture, forestry, and fishing, % of GDP
40.6%
2025
20.3%
2025
GNI, Atlas method
$2.45B
2025
$16.7B
2025
GNI per capita, PPP
$3,320
2025
$4,070
2025
Total reserves including gold n/a
$1.96B
2025
Total reserves ranking n/a
128/177
2025
Net foreign direct investment
-$26.3M
2024
-$560M
2024
Net inflows of foreign direct investment
$26.7M
2024
$573M
2024
Net outflows of foreign direct investment
$389K
2024
$13.2M
2024
Servicing debt to the IMF, % of GNI
1.77%
2024
2.91%
2024
Poverty at national poverty lines
50.5%
2021
27.4%
2023
Gross capital formation, % of GDP
25.8%
2025
34.1%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1997–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1991–1996, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. TradeMap (2025, retrieved 2026-07-08)

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.