Skip to content

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

Updated on by Georank team

Guinea-Bissau has a GDP of $2.22B compared to $802B for Taiwan, ranking 176/197 and 22/197 by economy size, respectively.

Guinea-Bissau has $1.82B in government debt (82.2% of GDP), compared to $211B (26.3% of GDP) in Taiwan.

Guinea-Bissau vs Taiwan GDP by year

Guinea-Bissau
Taiwan
1x
Year GDP, current $
Guinea-Bissau Taiwan
2024 $2,218,393,805 $801,529,000,000
2023 $2,127,688,181 $757,328,000,000
2022 $1,859,601,384 $765,529,000,000
2021 $1,908,094,558 $777,062,000,000
2020 $1,705,057,581 $676,935,000,000
2019 $1,596,227,316 $613,453,000,000
2018 $1,554,133,594 $610,744,000,000
2017 $1,469,978,606 $591,734,000,000
2016 $1,245,074,264 $543,002,000,000
2015 $1,152,384,167 $534,474,000,000
2014 $1,135,250,721 $535,332,000,000
2013 $1,109,682,824 $512,957,000,000
2012 $1,049,412,177 $495,536,000,000
2011 $1,157,074,319 $483,957,000,000
2010 $940,112,539 $444,245,000,000
2009 $890,167,833 $390,788,000,000
2008 $952,667,544 $415,824,000,000
2007 $753,162,998 $406,940,000,000
2006 $634,781,901 $386,492,000,000
2005 $639,776,041 $374,042,000,000
2004 $582,169,841 $346,881,000,000
2003 $553,614,800 $317,374,000,000
2002 $466,773,711 $307,429,000,000
2001 $412,610,872 $299,303,000,000
2000 $391,345,597 $330,725,000,000
1999 $579,365,780 $303,827,000,000
1998 $591,034,143 $279,926,000,000
1997 $698,107,222 $303,315,000,000
1996 $702,965,148 $292,473,000,000
1995 $660,195,402 $279,013,000,000
1994 $612,502,085 $256,213,000,000
1993 $615,779,519 $234,943,000,000
1992 $588,309,271 $222,947,000,000
1991 $668,470,891 $187,100,000,000
1990 $634,187,269 $166,392,000,000
1989 $554,072,303 $152,687,000,000
1988 $427,514,322 $126,378,000,000
1987 $451,893,375 $104,956,000,000
1986 $338,524,233 $78,347,000,000
1985 $373,959,151 $63,599,000,000
1984 $359,980,491 $61,036,000,000
1983 $425,225,177 $54,155,000,000
1982 $430,284,022 $49,540,000,000
1981 $402,230,865 $49,047,000,000
1980 $287,648,258 $42,292,000,000
1979 $308,143,183 $33,875,000,000
1978 $318,876,550 $27,373,000,000
1977 $298,871,675 $22,252,000,000
1976 $292,152,321 $18,988,000,000
1975 $283,311,997 $15,836,000,000
1974 $256,769,730 $14,739,000,000
1973 $232,331,281 $10,940,000,000
1972 $227,986,203 $8,063,000,000
1971 $204,167,297 $6,727,000,000
1970 $204,670,551 $5,785,000,000
1969 - $5,017,000,000
1968 - $4,325,000,000
1967 - $3,709,000,000
1966 - $3,207,000,000
1965 - $2,869,000,000
1964 - $2,592,000,000
1963 - $2,218,000,000
1962 - $1,960,000,000
1961 - $1,778,000,000
1960 - $1,743,000,000
1959 - $1,444,000,000
1958 - $1,836,000,000
1957 - $1,636,000,000
1956 - $1,399,000,000
1955 - $1,940,000,000
1954 - $1,628,000,000
1953 - $1,481,000,000
1952 - $1,677,000,000
1951 - $1,197,000,000

Data sources: National Statistics, Taiwan (1951–2024, retrieved 2026-02-09); World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

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

GDP per capita in Guinea-Bissau vs Taiwan by year

Guinea-Bissau
GDP per capita

GDP per capita, PPP
Taiwan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea-Bissau Taiwan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,008 $3,119 $34,238 -
2023 $988 $2,990 $32,444 -
2022 $883 $2,789 $32,827 -
2021 $927 $2,523 $33,111 -
2020 $847 $2,340 $28,705 -
2019 $811 $2,247 $25,998 -
2018 $809 $2,058 $25,901 -
2017 $783 $2,082 $25,121 $50,500
2016 $680 $1,824 $23,091 -
2015 $645 $1,730 $22,780 $46,800
2014 $652 $1,456 $22,874 -
2013 $654 $1,416 $21,973 $39,600
2012 $635 $1,402 $21,295 $39,400
2011 $720 $1,472 $20,866 $38,200
2010 $600 $1,370 $19,197 $35,700
2009 $583 $1,315 $16,933 $32,000
2008 $640 $1,309 $18,081 $31,100
2007 $519 $1,260 $17,757 $30,100
2006 $449 $1,226 $16,934 $29,500
2005 $463 $1,187 $16,456 $27,500
2004 $431 $1,105 $15,317 $25,300
2003 $420 $1,089 $14,066 $23,400
2002 $362 $1,095 $13,686 $18,000
2001 $327 $1,064 $13,397 $17,200
2000 $317 $1,014 $14,908 $17,400
1999 $479 $1,001 $13,804 $16,100
1998 $498 $861 $12,820 -
1997 $599 $1,118 $14,020 -
1996 $615 $1,052 $13,641 -
1995 $589 $945 $13,119 -
1994 $561 $909 $12,150 -
1993 $582 $890 $11,242 -
1992 $574 $880 $10,768 -
1991 $672 $877 $9,125 -
1990 $651 $824 $8,205 -
1989 $578 - $7,613 -
1988 $454 - $6,370 -
1987 $488 - $5,350 -
1986 $371 - $4,036 -
1985 $417 - $3,314 -
1984 $407 - $3,224 -
1983 $489 - $2,903 -
1982 $503 - $2,699 -
1981 $477 - $2,720 -
1980 $347 - $2,389 -
1979 $376 - $1,950 -
1978 $403 - $1,606 -
1977 $403 - $1,330 -
1976 $421 - $1,158 -
1975 $435 - $985 -
1974 $419 - $934 -
1973 $392 - $706 -
1972 $389 - $530 -
1971 $348 - $451 -
1970 $350 - $397 -
1969 - - $357 -
1968 - - $319 -
1967 - - $280.8 -
1966 - - $249.1 -
1965 - - $229.3 -
1964 - - $213.6 -
1963 - - $188.6 -
1962 - - $172 -
1961 - - $161.2 -
1960 - - $163.4 -
1959 - - $140.4 -
1958 - - $185.1 -
1957 - - $170.5 -
1956 - - $150.6 -
1955 - - $216.3 -
1954 - - $188.3 -
1953 - - $177.7 -
1952 - - $208.4 -
1951 - - $154.3 -

Data sources: National Statistics, Taiwan (1951–2024, retrieved 2026-02-09); World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06); Central Intelligence Agency (CIA) (1999–2017, retrieved 2026-02-20).

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

Guinea-Bissau's GDP per capita is $1,008, ranking 177/197, compared to $34,238 in Taiwan, ranking 35/197. Adjusted for purchasing power (GDP per capita PPP), Guinea-Bissau ranks 179th at $3,119, while Taiwan ranks 44th at $50,500.

Economic indicators

Guinea-Bissau Taiwan
Gross domestic product
$2.22B
2024
$802B
2024
GDP rank
176/197
2024
22/197
2024
GDP growth
4.15%
2023-2024
2.3%
2023-2024
GDP per capita
$1,008
2024
$34,238
2024
GDP per capita rank
177/197
2024
35/197
2024
GDP per capita, PPP
$3,119
2024
$50,500
2017
GDP per capita PPP rank
179/197
2024
44/197
2017
Government debt
$1.82B
2024
$211B
2024
Debt-to-GDP ratio
82.2%
2024
26.3%
2024
Government debt per person
$828
2024
$9,020
2024
Government debt per person rank
146/185
2024
59/185
2024
Average annual personal income after taxes
$1,711
2026
$18,163
2026
Number of millionaires n/a
759,000
2025
Number of billionaires n/a
54
2025
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
15.8%
2024
Consumer prices inflation
3.7%
2023-2024
2.2%
2023-2024
Central bank interest rate n/a
2%
2024
Unemployment rate
2.67%
2022
3.35%
2025
Population
2311915
23229461

Spending and national debt comparison by year

Guinea-Bissau
Spending

Debt
Taiwan
Spending

Debt
1x
Year % of GDP
Guinea-Bissau Taiwan
Government spending Government debt Government spending Government debt
2024 20.4% 82.2% 15.8% 26.3%
2023 21.9% 79.4% 17.1% 29%
2022 21.3% 80.7% 16% 29.5%
2021 25% 78.8% 15.4% 30.1%
2020 25% 77.6% 16.2% 32%
2019 18.8% 65.1% 15.3% 32.6%
2018 19.5% 59.1% 15.4% 33.8%
2017 18.1% 51.8% 15.4% 34.5%
2016 20.5% 59.1% 15.6% 35.4%
2015 21.5% 56.3% 15.5% 35.9%
2014 23% 60.1% - 37.5%
2013 12.4% 49.6% - 38.9%
2012 13% 47.4% - 39.2%
2011 17.3% 45.6% 18.3% 38.3%
2010 18.5% 61.7% - 36.9%
2009 20.6% 148.3% - 36.7%
2008 21.8% 148.8% - 33.4%
2007 23.7% 164% - 32.2%
2006 19.8% 190.4% - 33.3%
2005 20.2% 203.7% - 34.1%
2004 23% 202% - 33.4%
2003 17% 183.4% - 32.1%
2002 14.1% 197.5% - 29.8%
2001 19.1% 204.4% 22.5% 30.1%
2000 23.5% 217.1% - 26.2%
1999 12.1% 109.9% - 23.7%
1998 8.72% 109.1% - 23.7%
1997 12.7% 94.3% - 25%
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% 25.4% -
1990 - - - -
1989 - - - -
1988 - - - -
1987 - - - -
1986 - - - -
1985 - - - -
1984 - - - -
1983 - - - -
1982 - - - -
1981 - - 23.6% -
1980 - - - -
1979 - - - -
1978 - - - -
1977 - - - -
1976 - - 21.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20); National Statistics, Taiwan (1976–2024, retrieved 2026-02-09); International Monetary Fund (IMF) | Public Finances in Modern History (1991–1996, retrieved 2026-02-20).

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

In 2024, Guinea-Bissau's government spending was $452M, accounting for 20.4% of its GDP, while Taiwan spent $127B, or 15.8% of GDP.

Debt-to-GDP ratio is 82.2% in Guinea-Bissau and 26.3% in Taiwan, ranking 41/185 and 160/185, respectively.

Government deficit by year

Deficit/surplus
Guinea-Bissau

Taiwan
1x
Year Deficit/surplus, % of GDP
Guinea-Bissau Taiwan
2024 -7.26% 0.43%
2023 -8.15% -0.61%
2022 -6.06% 0.17%
2021 -5.88% -0.18%
2020 -9.64% -1.03%
2019 -3.86% 0.11%
2018 -4.76% 0.02%
2017 -1.32% -0.14%
2016 -5.34% -0.31%
2015 -3.16% 0.1%
2014 -2.44% -
2013 -1.67% -
2012 -2.12% -
2011 -1.35% -2.15%
2010 -0.23% -
2009 2.68% -
2008 -0.73% -
2007 -8.77% -
2006 -4.57% -
2005 -4.96% -
2004 -5.92% -
2003 -5.63% -
2002 -3.7% -
2001 -1.83% -3.71%
2000 -2.8% -
1999 -4.06% -
1998 -5.95% -
1997 -2.56% -
1996 3.48% -
1995 2.45% -
1994 -5.54% -
1993 -0.34% -
1992 -0.25% -
1991 1.61% -4.5%
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -0.78%
1980 - -
1979 - -
1978 - -
1977 - -
1976 - 1.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20); National Statistics, Taiwan (1976–2024, retrieved 2026-02-09).

GeoRank.org/economy/guinea-bissau/taiwan | 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 Taiwan's surplus of $3.45B, or 0.43% of GDP.

Over the past 34 years, Guinea-Bissau recorded a fiscal deficit in 30 of those years, while Taiwan ran a deficit in 8 years. On average, Guinea-Bissau posted an annual deficit equal to 3.25% of GDP, compared to deficit of 0.91% of GDP for Taiwan.

Inflation comparison by year

Inflation
Guinea-Bissau

Taiwan
1x
Year Consumer prices inflation
Guinea-Bissau Taiwan
2024 3.7% 2.2%
2023 7.2% 2.5%
2022 7.9% 2.9%
2021 3.3% 2%
2020 1.5% -0.2%
2019 0.3% 0.6%
2018 0.4% 1.4%
2017 -0.2% 0.6%
2016 2.7% 1.4%
2015 1.5% -0.3%
2014 -1% 1.2%
2013 0.8% 0.8%
2012 2.1% 1.9%
2011 5.1% 1.4%
2010 1.1% 1%
2009 -1.6% -0.9%
2008 10.4% 3.5%
2007 4.6% 1.8%
2006 2% 0.6%
2005 3.4% 2.3%
2004 0.8% 1.6%
2003 -3.5% -0.3%
2002 3.3% -0.2%
2001 3.3% 0%
2000 8.6% 1.2%
1999 -2.1% 0.2%
1998 8.1% 1.7%
1997 49.1% 0.9%

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

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

Over the past 28 years, Guinea-Bissau has recorded an average annual inflation rate of 4.39%, compared with 1.14% in Taiwan. In 2024, inflation was 3.7% in Guinea-Bissau and 2.2% in Taiwan.

Balance of trade

Guinea-Bissau Taiwan
Current account balance
-$160M
2023
$113B
2024
Current account balance ranking
95/190
2023
4/190
2024
Current account balance, % of GDP
-7.53%
2023
+14.1%
2024
Goods imports
$403M
2023
n/a
Goods exports
$240M
2023
n/a
Service imports
$189M
2023
n/a
Service exports
$44.8M
2023
n/a
Imports of goods and services, % of GDP
27%
2024
50.2%
2024
Exports of goods and services, % of GDP
11.8%
2024
63.3%
2024

Economic freedom indices

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

Guinea-Bissau Taiwan
Economic freedom 43.2 79.8
Economic freedom ranking 181/197 6/197
Property rights 28.4 83.4
Government integrity 21 74.3
Judicial effectiveness 13.2 94.3
Tax burden 89 78.9
Government spending 86.5 90
Fiscal health 6.5 92.9
Business freedom 34.6 78.6
Labor freedom 55.9 69
Monetary freedom 75.9 80.3
Trade freedom 47 86
Investment freedom 30 70
Financial freedom 30 60

Economic freedom comparison by year

Guinea-Bissau
Taiwan
1x
Year Economic freedom index
Guinea-Bissau Taiwan
2026 43.2 79.8
2025 43.6 79.7
2024 42.7 80
2023 44.6 80.7
2022 46 80.1
2021 54.9 78.6
2020 53.3 77.1
2019 54 77.3
2018 56.9 76.6
2017 56.1 76.5
2016 51.8 74.7
2015 52 75.1
2014 51.3 73.9
2013 51.1 72.7
2012 50.1 71.9
2011 46.5 70.8
2010 43.6 70.4
2009 45.4 69.5
2008 44.4 70.3
2007 46.1 69.4
2006 46.5 69.7
2005 46 71.3
2004 42.6 69.6
2003 43.1 71.7
2002 42.3 71.3
2001 42.5 72.8
2000 34.7 72.5
1999 33.5 71.5
1998 - 70.4
1997 - 70
1996 - 74.1
1995 - 74.2

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

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

The Economic Freedom Index for Guinea-Bissau is 43.2, ranking 181/197, compared to 79.8 for Taiwan, ranking 6/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea-Bissau Taiwan
Services, % of GDP
37.9%
2024
58.8%
2024
Industry, % of GDP
15.6%
2024
39.8%
2024
Agriculture, forestry, and fishing, % of GDP
42.2%
2024
1.47%
2024
GNI, Atlas method
$2.18B
2024
$832B
2024
GNI per capita, PPP
$3,140
2024
n/a
Net foreign direct investment
-$24.8M
2023
n/a
Net inflows of foreign direct investment
$26.7M
2024
n/a
Net outflows of foreign direct investment
$389K
2024
n/a
Servicing debt to the IMF, % of GNI
1.75%
2024
n/a
Poverty at national poverty lines
50.5%
2021
1.5%
2020
Gross capital formation, % of GDP
24.9%
2024
26.7%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); National Statistics, Taiwan (1985–2024, retrieved 2026-02-09); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06)
  2. National Statistics, Taiwan (1951–2025, retrieved 2026-02-09)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, 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. Central Intelligence Agency (CIA) (1999–2020, retrieved 2026-02-20)
  7. International Monetary Fund (IMF) | Public Finances in Modern History (1991–1996, retrieved 2026-02-20)
  8. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  9. 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.