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Economy of Guinea vs Liberia compared: GDP & Debt

Updated on by Georank

Guinea has a GDP of $28.3B compared to $5.25B for Liberia, ranking 117/197 and 162/197 by economy size, respectively.

Guinea has $13.6B in government debt (48.1% of GDP), compared to $2.88B (54.9% of GDP) in Liberia.

Guinea vs Liberia GDP by year

Guinea
Liberia
1x
Year GDP, current $
Guinea Liberia
2025 $28,346,024,753 $5,245,938,900
2024 $25,008,678,293 $4,779,300,900
2023 $22,407,615,556 $4,390,000,000
2022 $19,910,452,542 $4,001,047,000
2021 $17,069,115,738 $3,513,049,500
2020 $14,088,693,743 $3,176,126,300
2019 $13,442,861,496 $3,319,596,500
2018 $11,857,030,367 $3,422,754,800
2017 $10,324,668,271 $3,390,703,400
2016 $8,595,955,222 $3,398,419,600
2015 $8,794,201,743 $3,227,075,700
2014 $8,778,473,373 $3,225,652,000
2013 $8,376,613,539 $3,177,198,100
2012 $7,638,044,557 $2,791,614,000
2011 $6,785,137,203 $2,398,000,000
2010 $6,853,467,146 $1,998,000,000
2009 $6,716,905,340 $1,768,000,000
2008 $6,964,179,983 $1,726,000,000
2007 $6,281,918,226 $1,373,000,000
2006 $4,220,019,845 $1,119,000,000
2005 $4,282,468,637 $949,000,000
2004 $5,300,767,961 $897,000,000
2003 $5,025,167,975 $748,000,000
2002 $4,301,608,753 $927,000,000
2001 $4,125,527,603 $906,000,000
2000 $4,367,458,867 $874,000,000
1999 $5,046,806,783 $441,800,000
1998 $5,232,118,046 $359,600,000
1997 $5,516,916,163 $295,900,000
1996 $5,641,243,100 $159,400,000
1995 $5,385,704,166 $134,800,000
1994 $4,932,800,407 $132,200,000
1993 $4,781,166,117 $160,400,000
1992 $4,789,220,417 $223,500,000
1991 $4,396,178,694 $348,000,000
1990 $3,888,320,666 $384,400,000
1989 $3,546,079,263 $786,300,000
1988 $3,476,480,303 $1,038,300,000
1987 $2,976,714,019 $972,800,000
1986 $2,909,130,355 $840,964,400
1985 $22,787,644,566 $851,296,100
1984 $18,421,497,251 $848,478,300
1983 $15,129,893,722 $823,374,900
1982 $11,926,032,493 $863,933,200
1981 $9,646,440,667 $846,514,500
1980 $9,746,524,915 $854,711,500
1979 $8,877,094,497 $814,067,900
1978 $8,087,305,999 $717,240,400
1977 $6,914,381,291 $673,010,600
1976 $6,762,781,871 $596,675,700
1975 $6,102,769,605 $577,549,300
1974 $5,691,417,541 $486,955,000
1973 $5,152,080,388 $386,968,300
1972 $4,203,069,035 $368,098,000
1971 $3,594,302,908 $341,543,100
1970 $3,220,224,608 $323,099,700
1969 - $306,961,800
1968 - $276,820,700
1967 - $261,024,300
1966 - $244,459,500
1965 - $229,260,800
1964 - $218,929,100
1963 - $200,229,600
1962 - $191,861,800
1961 - $183,920,900
1960 - $190,495,600

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

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

GDP per capita in Guinea vs Liberia by year

Guinea
GDP per capita

GDP per capita, PPP
Liberia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea Liberia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $1,877 - $915 -
2024 $1,695 $4,565 $851 $1,871
2023 $1,555 $4,334 $799 $1,795
2022 $1,417 $4,062 $745 $1,692
2021 $1,245 $3,739 $668 $1,539
2020 $1,054 $3,332 $617 $1,660
2019 $1,031 $3,106 $658 $1,900
2018 $933 $2,844 $692 $1,800
2017 $834 $2,687 $699 $1,665
2016 $712 $2,255 $715 $1,490
2015 $747 $1,930 $693 $1,340
2014 $765 $1,873 $707 $1,419
2013 $748 $1,842 $711 $1,360
2012 $699 $1,790 $638 $1,157
2011 $637 $1,705 $568 $1,041
2010 $659 $1,622 $492 $980
2009 $662 $1,567 $448 $939
2008 $704 $1,614 $452 $915
2007 $650 $1,558 $374 $873
2006 $447 $1,453 $321 $815
2005 $463 $1,422 $287.5 $774
2004 $585 $1,366 $284.1 $745
2003 $566 $1,328 $239.8 $716
2002 $496 $1,315 $299.5 $1,013
2001 $483 $1,251 $300 $987
2000 $518 $1,196 $298.5 $965
1999 $611 $1,163 $156.6 $762
1998 $647 $1,130 $134.7 $652
1997 $696 $1,099 $122.6 $548
1996 $726 $1,048 $71.4 $282.2
1995 $713 $1,014 $62.1 $254.4
1994 $672 $976 $61.5 $262.6
1993 $671 $947 $74.4 $328
1992 $693 $908 $107.8 $497
1991 $656 $887 $177.9 $793
1990 $604 $871 $172.9 $787
1989 $570 - $312 -
1988 $574 - $424 -
1987 $505 - $409 -
1986 $506 - $364 -
1985 $4,062 - $380 -
1984 $3,362 - $390 -
1983 $2,823 - $391 -
1982 $2,273 - $422 -
1981 $1,876 - $426 -
1980 $1,931 - $443 -
1979 $1,790 - $435 -
1978 $1,658 - $394 -
1977 $1,440 - $381 -
1976 $1,431 - $347 -
1975 $1,311 - $346 -
1974 $1,243 - $299.4 -
1973 $1,143 - $244.4 -
1972 $948 - $238.6 -
1971 $825 - $227.1 -
1970 $753 - $220.3 -
1969 - - $214.7 -
1968 - - $198.6 -
1967 - - $192.2 -
1966 - - $184.6 -
1965 - - $177.6 -
1964 - - $173.9 -
1963 - - $163.1 -
1962 - - $160.3 -
1961 - - $157.5 -
1960 - - $167.2 -

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

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

Guinea's GDP per capita is $1,877, ranking 161/197, compared to $915 in Liberia, ranking 184/197. Adjusted for purchasing power (GDP per capita PPP), Guinea ranks 161st at $4,565, while Liberia ranks 188th at $1,871.

Economic indicators

Guinea Liberia
Gross domestic product
$28.3B
2025
$5.25B
2025
GDP rank
117/197
2025
162/197
2025
GDP growth
7.45%
2024-2025
5.02%
2024-2025
GDP per capita
$1,877
2025
$915
2025
GDP per capita rank
161/197
2025
184/197
2025
GDP per capita, PPP
$4,565
2024
$1,871
2024
GDP per capita PPP rank
161/197
2024
188/197
2024
Government debt
$13.6B
2025
$2.88B
2025
Debt-to-GDP ratio
48.1%
2025
54.9%
2025
Government debt per person
$902
2025
$502
2025
Government debt per person rank
146/185
2025
167/185
2025
Average annual personal income after taxes
$1,966
2026
$1,467
2026
Income share by richest 10%
23.1%
2018
27.1%
2016
Income share by poorest 10%
3.5%
2018
2.9%
2016
Government expenditure, % of GDP
25.2%
2025
22.4%
2025
Consumer prices inflation
3.1%
2024-2025
8.3%
2024-2025
Unemployment rate
5.02%
2019
5.93%
2017
Population
15624314
5916561

Spending and national debt comparison by year

Guinea
Spending

Debt
Liberia
Spending

Debt
1x
Year % of GDP
Guinea Liberia
Government spending Government debt Government spending Government debt
2025 25.2% 48.1% 22.4% 54.9%
2024 20.6% 48.3% 24.1% 56.4%
2023 18.3% 39.8% 28.6% 57.2%
2022 15.7% 37.2% 27.4% 54.4%
2021 15.1% 40.6% 29.8% 53.5%
2020 17.1% 45.3% 35.3% 58.5%
2019 14.9% 37.3% 32.3% 48.1%
2018 15.9% 37.5% 32.7% 36.2%
2017 17.3% 39.9% 35.1% 31.8%
2016 16.1% 40.6% 35.8% 28%
2015 21.7% 41.5% 37.1% 24.4%
2014 20.1% 32.1% 33.4% 24.3%
2013 18.6% 30.5% 27.4% 20.6%
2012 19.6% 26.9% 30.8% 20.5%
2011 16% 53.8% 29.8% 22.5%
2010 20.5% 71.1% 25.1% 25.4%
2009 16.2% 61.3% 24% 132.2%
2008 10.1% 58.5% 21.8% 235.3%
2007 8.66% 60.8% 16.1% 367%
2006 13.2% 95.2% 10.6% 451%
2005 11% 97.9% 11.7% 488%
2004 13% 86.9% 12.1% 543%
2003 14.7% 81.6% 8.98% 600%
2002 14.4% 82.6% 12.7% 464%
2001 14.9% 90.4% 12.1% 465%
2000 12.6% 91.5% 14.5% 468%
1999 11.6% 92.3% - -
1998 10.3% 75.9% - -
1997 12.6% 67.9% - -
1996 12% 67.7% - -
1995 12.7% 66.5% - -
1994 12.6% 71.3% - -
1993 13.3% 68.9% - -
1992 13.8% 62% - -
1991 16.3% 70.9% - -
1990 18.7% 71.6% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Guinea's government spending was $7.13B, accounting for 25.2% of its GDP, while Liberia spent $1.18B, or 22.4% of GDP.

Debt-to-GDP ratio is 48.1% in Guinea and 54.9% in Liberia, ranking 111/185 and 90/185, respectively.

Government deficit by year

Deficit/surplus
Guinea

Liberia
1x
Year Deficit/surplus, % of GDP
Guinea Liberia
2025 -7% -1.41%
2024 -4.99% -1.8%
2023 -3.86% -8.55%
2022 -1.88% -5.82%
2021 -1.7% -2.5%
2020 -3.08% -4.02%
2019 -0.17% -4.92%
2018 -0.97% -4.7%
2017 -1.98% -7.14%
2016 -0.08% -3.83%
2015 -6.53% -3.74%
2014 -3.01% -4.92%
2013 -3.86% 1.29%
2012 23.7% -2.86%
2011 -0.92% -4.39%
2010 -9.66% 1.16%
2009 -4.87% -1.4%
2008 0.38% -2.7%
2007 1.28% 2.28%
2006 -2.13% 4.23%
2005 -1.06% -0.51%
2004 -3.85% -0.56%
2003 -4.65% 0.36%
2002 -3.37% -1.57%
2001 -3.23% -0.94%
2000 -2.42% -0.08%
1999 -1.3% -
1998 2.46% -
1997 0.07% -
1996 -2.2% -
1995 -1.07% -
1994 -2.59% -
1993 -2.33% -
1992 -0.89% -
1991 -3.25% -
1990 -3.76% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Guinea's government deficit, the difference between spending and revenue, was $1.98B, equivalent to 7% of GDP. This compares to Liberia's deficit of $74.2M, or 1.41% of GDP.

Over the past 26 years, Guinea recorded a fiscal deficit in 23 of those years, while Liberia ran a deficit in 21 years. On average, Guinea posted an annual deficit equal to 1.92% of GDP, compared to deficit of 2.27% of GDP for Liberia.

Inflation comparison by year

Inflation
Guinea

Liberia
1x
Year Consumer prices inflation
Guinea Liberia
2025 3.1% 8.3%
2024 4.5% 8.2%
2023 5.4% 10.1%
2022 10.5% 7.6%
2021 12.6% 7.8%
2020 10.6% 17%
2019 9.5% 27%
2018 9.8% 23.5%
2017 8.9% 12.4%
2016 8.2% 8.8%
2015 8.2% 7.7%
2014 9.7% 9.9%
2013 11.9% 7.6%
2012 15.2% 6.8%
2011 21.4% 8.5%
2010 15.5% 7.3%
2009 4.7% 7.4%
2008 18.4% 17.5%
2007 22.9% 11.4%
2006 34.7% 9.5%
2005 31.4% 6.9%
2004 17.5% 3.6%
2003 11% 10.3%
2002 3% 14.2%
2001 5.4% 12.1%
2000 6.8% 5.3%
1999 4.6% 2%
1998 5.1% -
1997 1.9% -

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

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

Over the past 27 years, Guinea has recorded an average annual inflation rate of 12.1%, compared with 10.3% in Liberia. In 2025, inflation was 3.1% in Guinea and 8.3% in Liberia.

Top exports between countries

Guinea
Export category Export value
Chemicals & pharma $819K
Raw materials & minerals $521K
Wood & paper products $134K
Weapons & explosives $100K
Textiles & consumer goods $53K
Machinery & equipment $26K
Miscellaneous $2K
Liberia
Export category Export value
Machinery & equipment $1.28M
Chemicals & pharma $720K
Metals $272K
Raw materials & minerals $111K
Processed food, beverages & tobacco $101K
Textiles & consumer goods $2K

Balance of trade

Guinea Liberia
Current account balance
-$392M
2024
$120M
2024
Current account balance ranking
101/190
2024
62/190
2024
Current account balance, % of GDP
-1.57%
2024
+2.51%
2024
Goods imports
$7.08B
2024
$1.51B
2024
Goods exports
$11.6B
2024
$1.31B
2024
Service imports
$3.15B
2024
$253M
2024
Service exports
$71.2M
2024
$42.6M
2024
Imports of goods and services, % of GDP
62.3%
2025
n/a
Exports of goods and services, % of GDP
41.4%
2025
28.5%
2026

Economic freedom indices

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

Guinea Liberia
Economic freedom 53.1 49.8
Economic freedom ranking 141/197 163/197
Property rights 21.3 40.4
Government integrity 26.7 25.8
Judicial effectiveness 26 23.4
Tax burden 70.1 86.1
Government spending 90.1 79.5
Fiscal health 74.8 56.9
Business freedom 44.8 38
Labor freedom 56.4 43.4
Monetary freedom 75.3 71.4
Trade freedom 61.8 57.4
Investment freedom 50 55
Financial freedom 40 20

Economic freedom comparison by year

Guinea
Liberia
1x
Year Economic freedom index
Guinea Liberia
2026 53.1 49.8
2025 54.6 48.5
2024 53.3 49.9
2023 53.2 49.6
2022 54.2 47.9
2021 56.5 49.2
2020 56.5 49
2019 55.7 49.7
2018 52.2 50.9
2017 47.6 49.1
2016 53.3 52.2
2015 52.1 52.7
2014 53.5 52.4
2013 51.2 49.3
2012 50.8 48.6
2011 51.7 46.5
2010 51.8 46.2
2009 51 48.1
2008 52.8 -
2007 54.5 -
2006 52.8 -
2005 57.4 -
2004 56.1 -
2003 54.6 -
2002 52.9 -
2001 58.4 -
2000 58.2 -
1999 59.4 -
1998 61 -
1997 52.9 -
1996 58.5 -
1995 59.4 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Guinea is 53.1, ranking 141/197, compared to 49.8 for Liberia, ranking 163/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea Liberia
Services, % of GDP
35.7%
2025
40%
2025
Industry, % of GDP
25.4%
2025
24.5%
2025
Agriculture, forestry, and fishing, % of GDP
31.3%
2025
32.7%
2025
GNI, Atlas method
$26.2B
2025
$4.76B
2025
GNI per capita, PPP
$4,730
2025
$1,840
2025
Total reserves including gold
$1.35B
2024
$339M
2025
Total reserves ranking
137/177
2024
166/177
2025
Net foreign direct investment
-$1.4B
2024
-$397M
2024
Net inflows of foreign direct investment
$1.4B
2024
$472M
2024
Net outflows of foreign direct investment
$30K
2024
$74.9M
2024
Servicing debt to the IMF, % of GNI
1.94%
2024
3.12%
2024
Poverty at national poverty lines
47%
2020
50.9%
2016
Gross capital formation, % of GDP
37%
2025
n/a

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/liberia | 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 (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2016–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. Central Intelligence Agency (CIA) (2020, 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.