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Economy of Guinea vs Hungary compared: GDP & Debt

Updated on by Georank team

Guinea has a GDP of $25B compared to $223B for Hungary, ranking 118/197 and 55/197 by economy size, respectively.

Guinea has $12.2B in government debt (48.8% of GDP), compared to $164B (73.5% of GDP) in Hungary.

Guinea vs Hungary GDP by year

Guinea
Hungary
1x
Year GDP, current $
Guinea Hungary
2024 $25,008,678,293 $222,722,738,926
2023 $22,407,615,556 $213,240,316,635
2022 $19,910,452,542 $177,002,580,544
2021 $17,069,115,738 $183,282,685,440
2020 $14,088,693,743 $158,468,487,754
2019 $13,442,861,496 $164,936,682,034
2018 $11,857,030,367 $161,184,691,014
2017 $10,324,668,271 $143,335,098,992
2016 $8,595,955,222 $128,983,560,865
2015 $8,794,201,743 $125,244,126,623
2014 $8,778,473,373 $141,128,696,412
2013 $8,376,613,539 $135,646,053,779
2012 $7,638,044,557 $128,470,269,690
2011 $6,785,137,203 $141,712,804,954
2010 $6,853,467,146 $131,898,737,241
2009 $6,716,905,340 $130,807,441,076
2008 $6,964,179,983 $158,228,265,916
2007 $6,281,918,226 $140,123,326,896
2006 $4,220,019,845 $115,604,111,412
2005 $4,282,468,637 $113,098,237,571
2004 $5,300,767,961 $104,015,363,080
2003 $5,025,167,975 $85,190,469,121
2002 $4,301,608,753 $67,636,468,625
2001 $4,125,527,603 $53,800,068,066
2000 $4,367,458,867 $47,275,954,429
1999 $5,046,806,783 $49,160,204,397
1998 $5,232,118,046 $48,784,412,624
1997 $5,516,916,163 $47,398,564,799
1996 $5,641,243,100 $46,833,767,124
1995 $5,385,704,166 $46,577,614,589
1994 $4,932,800,407 $43,307,949,890
1993 $4,781,166,117 $40,256,233,360
1992 $4,789,220,417 $38,857,339,125
1991 $4,396,178,694 $34,867,307,353
1990 $3,888,320,666 $34,478,360,679
1989 $3,546,079,263 $30,422,508,938
1988 $3,476,480,303 $29,799,838,597
1987 $2,976,714,019 $27,232,016,527
1986 $2,909,130,355 $24,778,163,812
1985 $22,787,644,566 $21,510,643,750
1984 $18,421,497,251 $21,242,726,264
1983 $15,129,893,722 $21,910,365,258
1982 $11,926,032,493 $24,141,667,188
1981 $9,646,440,667 $23,705,883,892
1980 $9,746,524,915 $23,116,977,148
1979 $8,877,094,497 $19,959,731,325
1978 $8,087,305,999 $17,286,744,154
1977 $6,914,381,291 $14,783,674,055
1976 $6,762,781,871 $13,235,612,079
1975 $6,102,769,605 $11,420,392,515
1974 $5,691,417,541 $10,016,338,179
1973 $5,152,080,388 $9,138,292,402
1972 $4,203,069,035 $7,379,313,742
1971 $3,594,302,908 $6,291,568,221
1970 $3,220,224,608 $5,780,929,203
1969 - $5,429,812,387
1968 - $4,886,222,555

Data sources: World Bank | Economy & Growth (1968–2024, retrieved 2026-04-06).

GeoRank.org/economy/guinea/hungary | CC BY

GDP per capita in Guinea vs Hungary by year

Guinea
GDP per capita

GDP per capita, PPP
Hungary
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea Hungary
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,695 $4,565 $23,292 $48,552
2023 $1,555 $4,334 $22,231 $46,592
2022 $1,417 $4,062 $18,428 $44,366
2021 $1,245 $3,739 $19,031 $38,887
2020 $1,054 $3,332 $16,387 $35,584
2019 $1,031 $3,106 $17,013 $35,627
2018 $933 $2,844 $16,605 $32,258
2017 $834 $2,687 $14,736 $29,728
2016 $712 $2,255 $13,216 $28,179
2015 $747 $1,930 $12,783 $26,938
2014 $765 $1,873 $14,353 $25,796
2013 $748 $1,842 $13,739 $24,592
2012 $699 $1,790 $12,950 $23,205
2011 $637 $1,705 $14,211 $22,992
2010 $659 $1,622 $13,190 $21,691
2009 $662 $1,567 $13,051 $20,691
2008 $704 $1,614 $15,763 $20,709
2007 $650 $1,558 $13,935 $19,089
2006 $447 $1,453 $11,478 $18,362
2005 $463 $1,422 $11,212 $17,091
2004 $585 $1,366 $10,291 $16,251
2003 $566 $1,328 $8,410 $15,460
2002 $496 $1,315 $6,658 $14,532
2001 $483 $1,251 $5,281 $13,223
2000 $518 $1,196 $4,630 $11,872
1999 $611 $1,163 $4,802 $10,892
1998 $647 $1,130 $4,752 $10,415
1997 $696 $1,099 $4,606 $9,846
1996 $726 $1,048 $4,542 $9,388
1995 $713 $1,014 $4,509 $9,222
1994 $672 $976 $4,187 $8,888
1993 $671 $947 $3,887 $8,441
1992 $693 $908 $3,747 $8,284
1991 $656 $887 $3,361 $8,352
1990 $604 $871 $3,324 $9,169
1989 $570 - $2,902 -
1988 $574 - $2,812 -
1987 $505 - $2,566 -
1986 $506 - $2,331 -
1985 $4,062 - $2,020 -
1984 $3,362 - $1,991 -
1983 $2,823 - $2,050 -
1982 $2,273 - $2,255 -
1981 $1,876 - $2,213 -
1980 $1,931 - $2,158 -
1979 $1,790 - $1,865 -
1978 $1,658 - $1,618 -
1977 $1,440 - $1,388 -
1976 $1,431 - $1,249 -
1975 $1,311 - $1,083 -
1974 $1,243 - $956 -
1973 $1,143 - $876 -
1972 $948 - $710 -
1971 $825 - $607 -
1970 $753 - $559 -
1969 - - $527 -
1968 - - $476 -

Data sources: World Bank | Economy & Growth (1968–2024, retrieved 2026-04-06).

GeoRank.org/economy/guinea/hungary | CC BY

Guinea's GDP per capita is $1,695, ranking 160/197, compared to $23,292 in Hungary, ranking 55/197. Adjusted for purchasing power (GDP per capita PPP), Guinea ranks 161st at $4,565, while Hungary ranks 48th at $48,552.

Economic indicators

Guinea Hungary
Gross domestic product
$25B
2024
$223B
2024
GDP rank
118/197
2024
55/197
2024
GDP growth
5.35%
2023-2024
0.56%
2023-2024
GDP per capita
$1,695
2024
$23,292
2024
GDP per capita rank
160/197
2024
55/197
2024
GDP per capita, PPP
$4,565
2024
$48,552
2024
GDP per capita PPP rank
161/197
2024
48/197
2024
Government debt
$12.2B
2024
$164B
2024
Debt-to-GDP ratio
48.8%
2024
73.5%
2024
Government debt per person
$828
2024
$17,109
2024
Government debt per person rank
147/185
2024
37/185
2024
Average annual personal income after taxes
$20,020
2026
$16,996
2026
Market capitalization of domestic companies n/a
$41.5B
2024
Number of millionaires n/a
24,692
2025
Number of billionaires n/a
4
2025
Income share by richest 10%
23.1%
2018
24.4%
2022
Income share by poorest 10%
3.5%
2018
2.8%
2022
Government expenditure, % of GDP
20.6%
2024
46.9%
2024
Consumer prices inflation
4.7%
2023-2024
3.7%
2023-2024
Central bank interest rate n/a
6.5%
2024
Unemployment rate
5.02%
2019
4.47%
2024
Population
15546235
9475525

Spending and national debt comparison by year

Guinea
Spending

Debt
Hungary
Spending

Debt
1x
Year % of GDP
Guinea Hungary
Government spending Government debt Government spending Government debt
2024 20.6% 48.8% 46.9% 73.5%
2023 18.3% 40.4% 49.2% 73%
2022 15.7% 37.9% 48.7% 73.9%
2021 15.1% 40.6% 48.1% 76.2%
2020 17.1% 45.3% 51% 78.7%
2019 14.9% 37.3% 45.8% 65%
2018 15.9% 37.5% 45.9% 68.8%
2017 17.3% 39.9% 46.6% 72%
2016 16.1% 40.6% 46.7% 74.6%
2015 21.7% 41.5% 50.4% 75.7%
2014 20.1% 32.1% 50% 76.5%
2013 18.6% 30.5% 50.1% 77.2%
2012 19.6% 26.9% 49.2% 78.4%
2011 16% 53.8% 49.1% 80.5%
2010 20.5% 71.1% 48.9% 80.2%
2009 16.2% 61.3% 50.7% 78.2%
2008 10.1% 58.5% 48.8% 71.8%
2007 8.66% 60.8% 49.9% 65.6%
2006 13.2% 95.2% 51.4% 64.5%
2005 11% 97.9% 49.4% 60.6%
2004 13% 86.9% 48.8% 58.9%
2003 14.7% 81.6% 49.2% 58.2%
2002 14.4% 82.6% 51% 55.6%
2001 14.9% 90.4% 47.2% 52.2%
2000 12.6% 91.5% 47.3% 55.6%
1999 11.6% 92.3% 48.9% 60.3%
1998 10.3% 75.9% 50.7% 60.4%
1997 12.6% 67.9% 49.5% 62.2%
1996 12% 67.7% 50.9% 71.2%
1995 12.7% 66.5% 55% 83.9%
1994 12.6% 71.3% - 86.2%
1993 13.3% 68.9% - 87.2%
1992 13.8% 62% - 76.5%
1991 16.3% 70.9% - 74.2%
1990 18.7% 71.6% - 63.7%
1989 - - - 70.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989–1994, retrieved 2026-02-20).

GeoRank.org/economy/guinea/hungary | CC BY

In 2024, Guinea's government spending was $5.14B, accounting for 20.6% of its GDP, while Hungary spent $104B, or 46.9% of GDP.

Debt-to-GDP ratio is 48.8% in Guinea and 73.5% in Hungary, ranking 111/185 and 49/185, respectively.

Government deficit by year

Deficit/surplus
Guinea

Hungary
1x
Year Deficit/surplus, % of GDP
Guinea Hungary
2024 -4.99% -4.92%
2023 -3.86% -6.75%
2022 -1.88% -6.17%
2021 -1.7% -7.11%
2020 -3.08% -7.49%
2019 -0.17% -2.02%
2018 -0.97% -2.05%
2017 -1.98% -2.45%
2016 -0.08% -1.79%
2015 -6.53% -2%
2014 -3.01% -2.77%
2013 -3.86% -2.6%
2012 23.7% -2.33%
2011 -0.92% -5.22%
2010 -9.66% -4.44%
2009 -4.87% -4.76%
2008 0.38% -3.78%
2007 1.28% -5.09%
2006 -2.13% -9.27%
2005 -1.06% -7.79%
2004 -3.85% -6.6%
2003 -4.65% -7.19%
2002 -3.37% -8.79%
2001 -3.23% -4%
2000 -2.42% -3.04%
1999 -1.3% -5.27%
1998 2.46% -7.41%
1997 0.07% -5.54%
1996 -2.2% -4.36%
1995 -1.07% -8.57%
1994 -2.59% -
1993 -2.33% -
1992 -0.89% -
1991 -3.25% -
1990 -3.76% -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -0.17%
1942 - 0.31%
1941 - 0.2%
1940 - -0.07%
1939 - 0.19%
1938 - -0.11%
1937 - -0.01%
1936 - 0.08%
1935 - 0.03%
1934 - 0.04%
1933 - -0.03%
1932 - -0.22%
1931 - -0.32%
1930 - -0.26%
1929 - 0.02%
1928 - 0.12%
1927 - 0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1943, retrieved 2026-02-20).

GeoRank.org/economy/guinea/hungary | CC BY

In 2024, Guinea's government deficit, the difference between spending and revenue, was $1.25B, equivalent to 4.99% of GDP. This compares to Hungary's deficit of $10.9B, or 4.92% of GDP.

Over the past 30 years, Guinea recorded a fiscal deficit in 25 of those years, while Hungary ran a deficit in 30 years. On average, Guinea posted an annual deficit equal to 1.5% of GDP, compared to deficit of 5.05% of GDP for Hungary.

Inflation comparison by year

Inflation
Guinea

Hungary
1x
Year Consumer prices inflation
Guinea Hungary
2024 4.7% 3.7%
2023 5.4% 17.1%
2022 10.5% 14.6%
2021 12.6% 5.11%
2020 10.6% 3.33%
2019 9.5% 3.34%
2018 9.8% 2.85%
2017 8.9% 2.35%
2016 8.2% 0.39%
2015 8.2% -0.06%
2014 9.7% -0.23%
2013 11.9% 1.73%
2012 15.2% 5.65%
2011 21.4% 3.93%
2010 15.5% 4.86%
2009 4.7% 4.21%
2008 18.4% 6.04%
2007 22.9% 7.96%
2006 34.7% 3.93%
2005 31.4% 3.56%
2004 17.5% 6.74%
2003 11% 4.66%
2002 3% 5.27%
2001 5.4% 9.12%
2000 6.8% 9.8%
1999 4.6% 10%
1998 5.1% 14.2%
1997 1.9% 18.3%

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/hungary | CC BY

Over the past 28 years, Guinea has recorded an average annual inflation rate of 11.8%, compared with 6.16% in Hungary. In 2024, inflation was 4.7% in Guinea and 3.7% in Hungary.

Top exports between countries

Guinea
Export category Export value
Hungary
Export category Export value
Machinery & equipment $5.03M
Chemicals & pharma $1.88M
Textiles & consumer goods $1.78M
Animal & marine products $1.2M
Processed food, beverages & tobacco $974K
Raw agricultural goods $71K
Metals $20K
Raw materials & minerals $17K
Miscellaneous $1K

Balance of trade

Guinea Hungary
Current account balance
-$392M
2024
$3.52B
2024
Current account balance ranking
104/190
2024
36/190
2024
Current account balance, % of GDP
-1.57%
2024
+1.58%
2024
Goods imports
$7.08B
2024
$130B
2024
Goods exports
$11.6B
2024
$129B
2024
Service imports
$3.15B
2024
$27.9B
2024
Service exports
$71.2M
2024
$38.9B
2024
Imports of goods and services, % of GDP
56.4%
2024
71.1%
2024
Exports of goods and services, % of GDP
41.4%
2024
75.4%
2024

Economic freedom indices

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

Guinea Hungary
Economic freedom 53.1 62.5
Economic freedom ranking 141/197 86/197
Property rights 21.3 67.3
Government integrity 26.7 44
Judicial effectiveness 26 61.9
Tax burden 70.1 85.1
Government spending 90.1 30.2
Fiscal health 74.8 32.7
Business freedom 44.8 70.8
Labor freedom 56.4 56.5
Monetary freedom 75.3 72.1
Trade freedom 61.8 79.4
Investment freedom 50 80
Financial freedom 40 70

Economic freedom comparison by year

Guinea
Hungary
1x
Year Economic freedom index
Guinea Hungary
2026 53.1 62.5
2025 54.6 61.4
2024 53.3 61.2
2023 53.2 64.1
2022 54.2 66.9
2021 56.5 67.2
2020 56.5 66.4
2019 55.7 65
2018 52.2 66.7
2017 47.6 65.8
2016 53.3 66
2015 52.1 66.8
2014 53.5 67
2013 51.2 67.3
2012 50.8 67.1
2011 51.7 66.6
2010 51.8 66.1
2009 51 66.8
2008 52.8 67.6
2007 54.5 64.8
2006 52.8 65
2005 57.4 63.5
2004 56.1 62.7
2003 54.6 63
2002 52.9 64.5
2001 58.4 65.6
2000 58.2 64.4
1999 59.4 59.6
1998 61 56.9
1997 52.9 55.3
1996 58.5 56.8
1995 59.4 55.2

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

GeoRank.org/economy/guinea/hungary | CC BY

The Economic Freedom Index for Guinea is 53.1, ranking 141/197, compared to 62.5 for Hungary, ranking 86/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea Hungary
Services, % of GDP
36.3%
2024
59.5%
2024
Industry, % of GDP
25.1%
2024
23.7%
2024
Agriculture, forestry, and fishing, % of GDP
31%
2024
2.71%
2024
GNI, Atlas method
$21.3B
2024
$199B
2024
GNI per capita, PPP
$4,130
2024
$47,290
2024
Total reserves including gold
$1.89B
2023
$46.4B
2024
Total reserves ranking
128/177
2023
42/177
2024
Net foreign direct investment
-$1.4B
2024
-$15.8B
2024
Net inflows of foreign direct investment
$1.4B
2024
-$62.2B
2024
Net outflows of foreign direct investment
$30K
2024
-$78B
2024
Servicing debt to the IMF, % of GNI
1.94%
2024
n/a
Poverty at national poverty lines
47%
2020
12.1%
2021
Gross capital formation, % of GDP
32.1%
2024
23.5%
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/hungary | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1968–2024, 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. International Monetary Fund (IMF) | Public Finances in Modern History (1927–1994, retrieved 2026-02-20)
  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)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.