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Economy of Guinea vs Kuwait compared: GDP & Debt

Updated on by Georank team

Guinea has a GDP of $25B compared to $160B for Kuwait, ranking 118/197 and 59/197 by economy size, respectively.

Guinea has $12.2B in government debt (48.8% of GDP), compared to $4.68B (2.92% of GDP) in Kuwait.

Guinea vs Kuwait GDP by year

Guinea
Kuwait
1x
Year GDP, current $
Guinea Kuwait
2024 $25,008,678,293 $160,227,273,053
2023 $22,407,615,556 $165,384,407,116
2022 $19,910,452,542 $183,502,046,694
2021 $17,069,115,738 $148,350,671,489
2020 $14,088,693,743 $111,045,470,606
2019 $13,442,861,496 $140,856,394,861
2018 $11,857,030,367 $138,646,316,351
2017 $10,324,668,271 $120,687,539,806
2016 $8,595,955,222 $109,406,674,125
2015 $8,794,201,743 $114,585,555,689
2014 $8,778,473,373 $162,650,450,685
2013 $8,376,613,539 $174,168,116,535
2012 $7,638,044,557 $174,047,662,680
2011 $6,785,137,203 $154,039,231,246
2010 $6,853,467,146 $115,416,245,242
2009 $6,716,905,340 $105,968,691,905
2008 $6,964,179,983 $147,379,737,230
2007 $6,281,918,226 $114,634,043,362
2006 $4,220,019,845 $101,557,330,723
2005 $4,282,468,637 $80,798,630,137
2004 $5,300,767,961 $59,439,090,601
2003 $5,025,167,975 $47,874,582,232
2002 $4,301,608,753 $38,135,788,414
2001 $4,125,527,603 $34,889,559,870
2000 $4,367,458,867 $37,718,743,480
1999 $5,046,806,783 $30,122,365,849
1998 $5,232,118,046 $25,943,705,784
1997 $5,516,916,163 $30,350,190,704
1996 $5,641,243,100 $31,492,373,309
1995 $5,385,704,166 $27,186,980,647
1994 $4,932,800,407 $24,848,483,838
1993 $4,781,166,117 $23,941,391,391
1992 $4,789,220,417 $19,858,555,215
1991 $4,396,178,694 $11,009,993,703
1990 $3,888,320,666 $18,427,777,778
1989 $3,546,079,263 $24,313,855,653
1988 $3,476,480,303 $20,690,322,153
1987 $2,976,714,019 $22,368,704,134
1986 $2,909,130,355 $17,903,989,745
1985 $22,787,644,566 $21,445,970,614
1984 $18,421,497,251 $21,700,082,753
1983 $15,129,893,722 $20,871,081,080
1982 $11,926,032,493 $21,577,153,356
1981 $9,646,440,667 $25,058,020,338
1980 $9,746,524,915 $28,638,868,356
1979 $8,877,094,497 $24,749,063,922
1978 $8,087,305,999 $15,503,557,496
1977 $6,914,381,291 $14,137,406,741
1976 $6,762,781,871 $13,132,252,802
1975 $6,102,769,605 $12,022,811,621
1974 $5,691,417,541 $13,006,948,296
1973 $5,152,080,388 $5,408,804,607
1972 $4,203,069,035 $4,450,537,925
1971 $3,594,302,908 $3,880,392,195
1970 $3,220,224,608 $2,873,638,851
1969 - $2,769,198,892
1968 - $2,662,798,935
1967 - $2,441,599,023
1966 - $2,391,199,044
1965 - $2,097,199,161
1964 - $2,071,668,533
1963 - $1,900,895,857
1962 - $1,828,107,503

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

GDP per capita in Guinea vs Kuwait by year

Guinea
GDP per capita

GDP per capita, PPP
Kuwait
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea Kuwait
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,695 $4,565 $32,718 $52,444
2023 $1,555 $4,334 $34,076 $53,025
2022 $1,417 $4,062 $39,982 $55,043
2021 $1,245 $3,739 $34,019 $50,652
2020 $1,054 $3,332 $25,236 $41,462
2019 $1,031 $3,106 $31,708 $50,703
2018 $933 $2,844 $32,068 $51,371
2017 $834 $2,687 $29,048 $46,566
2016 $712 $2,255 $27,324 $41,862
2015 $747 $1,930 $29,882 $45,267
2014 $765 $1,873 $44,369 $68,337
2013 $748 $1,842 $49,651 $76,813
2012 $699 $1,790 $52,155 $82,090
2011 $637 $1,705 $49,170 $79,037
2010 $659 $1,622 $39,212 $75,184
2009 $662 $1,567 $37,907 $80,110
2008 $704 $1,614 $55,585 $90,337
2007 $650 $1,558 $45,709 $91,435
2006 $447 $1,453 $42,947 $89,075
2005 $463 $1,422 $36,123 $84,968
2004 $585 $1,366 $27,552 $77,227
2003 $566 $1,328 $22,691 $69,752
2002 $496 $1,315 $18,513 $59,713
2001 $483 $1,251 $17,374 $58,553
2000 $518 $1,196 $19,296 $58,703
1999 $611 $1,163 $15,854 $56,406
1998 $647 $1,130 $14,067 $58,344
1997 $696 $1,099 $16,977 $57,420
1996 $726 $1,048 $18,201 $56,913
1995 $713 $1,014 $16,168 $57,163
1994 $672 $976 $14,930 $53,946
1993 $671 $947 $14,318 $48,482
1992 $693 $908 $12,146 $36,149
1991 $656 $887 $8,147 $23,390
1990 $604 $871 $10,938 $30,763
1989 $570 - $10,965 -
1988 $574 - $9,692 -
1987 $505 - $10,896 -
1986 $506 - $9,077 -
1985 $4,062 - $11,322 -
1984 $3,362 - $11,919 -
1983 $2,823 - $11,965 -
1982 $2,273 - $12,979 -
1981 $1,876 - $15,825 -
1980 $1,931 - $19,032 -
1979 $1,790 - $17,386 -
1978 $1,658 - $11,567 -
1977 $1,440 - $11,238 -
1976 $1,431 - $11,141 -
1975 $1,311 - $10,882 -
1974 $1,243 - $12,527 -
1973 $1,143 - $5,532 -
1972 $948 - $4,836 -
1971 $825 - $4,486 -
1970 $753 - $3,552 -
1969 - - $3,695 -
1968 - - $3,872 -
1967 - - $3,887 -
1966 - - $4,176 -
1965 - - $4,024 -
1964 - - $4,379 -
1963 - - $4,445 -
1962 - - $4,748 -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

Guinea's GDP per capita is $1,695, ranking 160/197, compared to $32,718 in Kuwait, ranking 37/197. Adjusted for purchasing power (GDP per capita PPP), Guinea ranks 161st at $4,565, while Kuwait ranks 40th at $52,444.

Economic indicators

Guinea Kuwait
Gross domestic product
$25B
2024
$160B
2024
GDP rank
118/197
2024
59/197
2024
GDP growth
5.35%
2023-2024
-2.56%
2023-2024
GDP per capita
$1,695
2024
$32,718
2024
GDP per capita rank
160/197
2024
37/197
2024
GDP per capita, PPP
$4,565
2024
$52,444
2024
GDP per capita PPP rank
161/197
2024
40/197
2024
Government debt
$12.2B
2024
$4.68B
2024
Debt-to-GDP ratio
48.8%
2024
2.92%
2024
Government debt per person
$828
2024
$956
2024
Government debt per person rank
147/185
2024
143/185
2024
Average annual personal income after taxes
$20,020
2026
$23,828
2026
Market capitalization of domestic companies n/a
$141B
2024
Income share by richest 10%
23.1%
2018
n/a
Income share by poorest 10%
3.5%
2018
n/a
Government expenditure, % of GDP
20.6%
2024
50.4%
2024
Consumer prices inflation
4.7%
2023-2024
2.9%
2023-2024
Central bank interest rate n/a
3.5%
2025
Unemployment rate
5.02%
2019
2.16%
2016
Population
15546235
5100145

Spending and national debt comparison by year

Guinea
Spending

Debt
Kuwait
Spending

Debt
1x
Year % of GDP
Guinea Kuwait
Government spending Government debt Government spending Government debt
2024 20.6% 48.8% 50.4% 2.92%
2023 18.3% 40.4% 48.3% 3.13%
2022 15.7% 37.9% 39.6% 2.95%
2021 15.1% 40.6% 48.3% 7.2%
2020 17.1% 45.3% 62.9% 10.2%
2019 14.9% 37.3% 50.3% 10.5%
2018 15.9% 37.5% 51.1% 14.3%
2017 17.3% 39.9% 51.9% 19.6%
2016 16.1% 40.6% 54.1% 9.88%
2015 21.7% 41.5% 55.4% 4.6%
2014 20.1% 32.1% 45% 3.43%
2013 18.6% 30.5% 38.4% 3.09%
2012 19.6% 26.9% 38.2% 3.6%
2011 16% 53.8% 39.7% 4.64%
2010 20.5% 71.1% 45.5% 6.16%
2009 16.2% 61.3% 42.9% 6.65%
2008 10.1% 58.5% 40.9% 5.38%
2007 8.66% 60.8% 30.4% 7.05%
2006 13.2% 95.2% 32.3% 7.79%
2005 11% 97.9% 28.8% 10.2%
2004 13% 86.9% 35.3% 13.9%
2003 14.7% 81.6% 38.2% 17.2%
2002 14.4% 82.6% 42.8% 21.3%
2001 14.9% 90.4% 41.4% 23%
2000 12.6% 91.5% 29.9% 21.4%
1999 11.6% 92.3% 44.5% 25.5%
1998 10.3% 75.9% 51.7% 25.6%
1997 12.6% 67.9% 43.8% 24.3%
1996 12% 67.7% 42.8% 26.5%
1995 12.7% 66.5% 52% 34.9%
1994 12.6% 71.3% 57.8% 37.7%
1993 13.3% 68.9% 58.2% 28.8%
1992 13.8% 62% 77.6% 27.9%
1991 16.3% 70.9% 208.9% 45.3%
1990 18.7% 71.6% 122.9% -

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

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

In 2024, Guinea's government spending was $5.14B, accounting for 20.6% of its GDP, while Kuwait spent $80.8B, or 50.4% of GDP.

Debt-to-GDP ratio is 48.8% in Guinea and 2.92% in Kuwait, ranking 111/185 and 184/185, respectively.

Government deficit by year

Deficit/surplus
Guinea

Kuwait
1x
Year Deficit/surplus, % of GDP
Guinea Kuwait
2024 -4.99% 23.8%
2023 -3.86% 28.2%
2022 -1.88% 30%
2021 -1.7% 9.98%
2020 -3.08% 0.14%
2019 -0.17% 13%
2018 -0.97% 17.5%
2017 -1.98% 15.3%
2016 -0.08% 13.1%
2015 -6.53% 16.6%
2014 -3.01% 30%
2013 -3.86% 40.6%
2012 23.7% 40.7%
2011 -0.92% 38.8%
2010 -9.66% 31.9%
2009 -4.87% 31.3%
2008 0.38% 21.3%
2007 1.28% 37.1%
2006 -2.13% 28%
2005 -1.06% 38.9%
2004 -3.85% 32.5%
2003 -4.65% 27.2%
2002 -3.37% 31%
2001 -3.23% 45.2%
2000 -2.42% 52.5%
1999 -1.3% 28.2%
1998 2.46% 19.5%
1997 0.07% 29.5%
1996 -2.2% 24.3%
1995 -1.07% 11.7%
1994 -2.59% 1.76%
1993 -2.33% -3.12%
1992 -0.89% -28.1%
1991 -3.25% -145%
1990 -3.76% -50%

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

GeoRank.org/economy/guinea/kuwait | 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 Kuwait's surplus of $38.1B, or 23.8% of GDP.

Over the past 35 years, Guinea recorded a fiscal deficit in 30 of those years, while Kuwait ran a deficit in 4 years. On average, Guinea posted an annual deficit equal to 1.65% of GDP, compared to surplus of 16.7% of GDP for Kuwait.

Inflation comparison by year

Inflation
Guinea

Kuwait
1x
Year Consumer prices inflation
Guinea Kuwait
2024 4.7% 2.9%
2023 5.4% 3.64%
2022 10.5% 3.98%
2021 12.6% 3.42%
2020 10.6% 2.1%
2019 9.5% 1.09%
2018 9.8% 0.54%
2017 8.9% 2.17%
2016 8.2% 3.2%
2015 8.2% 3.27%
2014 9.7% 2.91%
2013 11.9% 2.68%
2012 15.2% 3.26%
2011 21.4% 4.84%
2010 15.5% 4.5%
2009 4.7% 4.61%
2008 18.4% 10.6%
2007 22.9% 5.48%
2006 34.7% 3.06%
2005 31.4% 4.14%
2004 17.5% 1.25%
2003 11% 0.96%
2002 3% 0.89%
2001 5.4% 1.3%
2000 6.8% 1.81%
1999 4.6% 2.99%
1998 5.1% 0.13%
1997 1.9% 0.68%

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/kuwait | CC BY

Over the past 28 years, Guinea has recorded an average annual inflation rate of 11.8%, compared with 2.94% in Kuwait. In 2024, inflation was 4.7% in Guinea and 2.9% in Kuwait.

Top exports between countries

Guinea
Export category Export value
Machinery & equipment $1K
Kuwait
Export category Export value
Metals $4.59M
Machinery & equipment $685K
Raw materials & minerals $335K
Chemicals & pharma $232K
Miscellaneous $51K
Animal & marine products $33K
Textiles & consumer goods $1K

Balance of trade

Guinea Kuwait
Current account balance
-$392M
2024
$46.7B
2024
Current account balance ranking
104/190
2024
15/190
2024
Current account balance, % of GDP
-1.57%
2024
+29.1%
2024
Goods imports
$7.08B
2024
$33.4B
2024
Goods exports
$11.6B
2024
$77.5B
2024
Service imports
$3.15B
2024
$28.1B
2024
Service exports
$71.2M
2024
$12.2B
2024
Imports of goods and services, % of GDP
56.4%
2024
38.3%
2023
Exports of goods and services, % of GDP
41.4%
2024
57.7%
2023

Economic freedom indices

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

Guinea Kuwait
Economic freedom 53.1 59.9
Economic freedom ranking 141/197 100/197
Property rights 21.3 42
Government integrity 26.7 47.9
Judicial effectiveness 26 43.4
Tax burden 70.1 97.7
Government spending 90.1 36.2
Fiscal health 74.8 99.9
Business freedom 44.8 57.4
Labor freedom 56.4 49.2
Monetary freedom 75.3 68.7
Trade freedom 61.8 75.8
Investment freedom 50 50
Financial freedom 40 50

Economic freedom comparison by year

Guinea
Kuwait
1x
Year Economic freedom index
Guinea Kuwait
2026 53.1 59.9
2025 54.6 59.9
2024 53.3 58.5
2023 53.2 56.7
2022 54.2 58.3
2021 56.5 64.1
2020 56.5 63.2
2019 55.7 60.8
2018 52.2 62.2
2017 47.6 65.1
2016 53.3 62.7
2015 52.1 62.5
2014 53.5 62.3
2013 51.2 63.1
2012 50.8 62.5
2011 51.7 64.9
2010 51.8 67.7
2009 51 65.6
2008 52.8 68.1
2007 54.5 66.4
2006 52.8 66.5
2005 57.4 64.6
2004 56.1 63.6
2003 54.6 66.7
2002 52.9 65.4
2001 58.4 68.2
2000 58.2 69.7
1999 59.4 69.5
1998 61 66.3
1997 52.9 64.8
1996 58.5 66.1
1995 59.4 -

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

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

The Economic Freedom Index for Guinea is 53.1, ranking 141/197, compared to 59.9 for Kuwait, ranking 100/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea Kuwait
Services, % of GDP
36.3%
2024
55.9%
2024
Industry, % of GDP
25.1%
2024
57.1%
2024
Agriculture, forestry, and fishing, % of GDP
31%
2024
0.49%
2024
GNI, Atlas method
$21.3B
2024
$200B
2024
GNI per capita, PPP
$4,130
2024
$63,270
2024
Total reserves including gold
$1.89B
2023
$50.7B
2024
Total reserves ranking
128/177
2023
41/177
2024
Net foreign direct investment
-$1.4B
2024
$9.71B
2024
Net inflows of foreign direct investment
$1.4B
2024
$615M
2024
Net outflows of foreign direct investment
$30K
2024
$10.3B
2024
Servicing debt to the IMF, % of GNI
1.94%
2024
n/a
Poverty at national poverty lines
47%
2020
n/a
Gross capital formation, % of GDP
32.1%
2024
17.7%
2023

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/kuwait | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1962–2024, 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 (2016–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. 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.