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Economy of Guinea vs Luxembourg compared: GDP & Debt

Updated on by Georank team

Guinea has a GDP of $25B compared to $93.3B for Luxembourg, ranking 118/197 and 74/197 by economy size, respectively.

Guinea has $12.2B in government debt (48.8% of GDP), compared to $24.5B (26.3% of GDP) in Luxembourg.

Guinea vs Luxembourg GDP by year

Guinea
Luxembourg
1x
Year GDP, current $
Guinea Luxembourg
2024 $25,008,678,293 $93,279,851,863
2023 $22,407,615,556 $88,788,881,539
2022 $19,910,452,542 $80,801,680,397
2021 $17,069,115,738 $86,386,759,695
2020 $14,088,693,743 $73,670,782,100
2019 $13,442,861,496 $69,872,035,114
2018 $11,857,030,367 $71,085,623,495
2017 $10,324,668,271 $65,712,180,343
2016 $8,595,955,222 $62,216,885,436
2015 $8,794,201,743 $60,071,584,216
2014 $8,778,473,373 $68,804,811,898
2013 $8,376,613,539 $65,203,276,467
2012 $7,638,044,557 $59,776,383,527
2011 $6,785,137,203 $61,696,281,326
2010 $6,853,467,146 $56,213,985,987
2009 $6,716,905,340 $54,467,289,898
2008 $6,964,179,983 $58,844,277,702
2007 $6,281,918,226 $51,587,401,416
2006 $4,220,019,845 $42,910,146,296
2005 $4,282,468,637 $37,672,280,120
2004 $5,300,767,961 $35,064,843,793
2003 $5,025,167,975 $29,667,268,248
2002 $4,301,608,753 $23,649,833,332
2001 $4,125,527,603 $21,387,533,703
2000 $4,367,458,867 $21,230,182,989
1999 $5,046,806,783 $21,899,317,599
1998 $5,232,118,046 $20,150,053,345
1997 $5,516,916,163 $19,563,836,265
1996 $5,641,243,100 $20,895,314,658
1995 $5,385,704,166 $20,853,093,870
1994 $4,932,800,407 $17,701,798,891
1993 $4,781,166,117 $15,925,521,222
1992 $4,789,220,417 $15,518,702,635
1991 $4,396,178,694 $13,834,219,728
1990 $3,888,320,666 $12,778,792,854
1989 $3,546,079,263 $10,037,674,038
1988 $3,476,480,303 $9,418,167,855
1987 $2,976,714,019 $8,320,902,215
1986 $2,909,130,355 $6,685,595,088
1985 $22,787,644,566 $4,577,211,767
1984 $18,421,497,251 $4,438,435,493
1983 $15,129,893,722 $4,524,217,751
1982 $11,926,032,493 $4,602,316,793
1981 $9,646,440,667 $5,053,665,797
1980 $9,746,524,915 $6,019,805,490
1979 $8,877,094,497 $5,516,982,664
1978 $8,087,305,999 $4,718,539,772
1977 $6,914,381,291 $3,789,321,328
1976 $6,762,781,871 $3,423,586,207
1975 $6,102,769,605 $3,123,333,333
1974 $5,691,417,541 $3,183,637,117
1973 $5,152,080,388 $2,609,875,802
1972 $4,203,069,035 $1,901,697,370
1971 $3,594,302,908 $1,518,773,421
1970 $3,220,224,608 $1,457,768,455
1969 - $1,245,432,991
1968 - $1,075,561,623
1967 - $983,052,315
1966 - $976,717,015
1965 - $929,477,285
1964 - $910,877,686
1963 - $797,902,154
1962 - $747,846,862
1961 - $710,163,719
1960 - $709,941,874

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Guinea vs Luxembourg by year

Guinea
GDP per capita

GDP per capita, PPP
Luxembourg
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea Luxembourg
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,695 $4,565 $137,782 $155,941
2023 $1,555 $4,334 $133,231 $150,508
2022 $1,417 $4,062 $123,720 $146,919
2021 $1,245 $3,739 $134,966 $136,772
2020 $1,054 $3,332 $116,860 $122,067
2019 $1,031 $3,106 $112,697 $121,372
2018 $933 $2,844 $116,927 $116,638
2017 $834 $2,687 $110,193 $114,986
2016 $712 $2,255 $106,899 $113,365
2015 $747 $1,930 $105,462 $107,860
2014 $765 $1,873 $123,679 $105,296
2013 $748 $1,842 $120,000 $100,925
2012 $699 $1,790 $112,585 $96,636
2011 $637 $1,705 $119,025 $94,475
2010 $659 $1,622 $110,886 $90,336
2009 $662 $1,567 $109,420 $86,919
2008 $704 $1,614 $120,422 $90,971
2007 $650 $1,558 $107,475 $85,126
2006 $447 $1,453 $90,789 $78,861
2005 $463 $1,422 $80,988 $68,788
2004 $585 $1,366 $76,545 $64,686
2003 $566 $1,328 $65,689 $60,192
2002 $496 $1,315 $53,006 $58,576
2001 $483 $1,251 $48,440 $56,136
2000 $518 $1,196 $48,660 $55,136
1999 $611 $1,163 $50,872 $49,845
1998 $647 $1,130 $47,445 $44,270
1997 $696 $1,099 $46,642 $42,488
1996 $726 $1,048 $50,444 $39,722
1995 $713 $1,014 $51,032 $38,345
1994 $672 $976 $43,933 $37,551
1993 $671 $947 $40,067 $35,899
1992 $693 $908 $39,571 $34,108
1991 $656 $887 $35,747 $33,191
1990 $604 $871 $33,465 $29,949
1989 $570 - $26,618 -
1988 $574 - $25,219 -
1987 $505 - $22,443 -
1986 $506 - $18,150 -
1985 $4,062 - $12,482 -
1984 $3,362 - $12,127 -
1983 $2,823 - $12,374 -
1982 $2,273 - $12,591 -
1981 $1,876 - $13,837 -
1980 $1,931 - $16,531 -
1979 $1,790 - $15,204 -
1978 $1,658 - $13,034 -
1977 $1,440 - $10,486 -
1976 $1,431 - $9,491 -
1975 $1,311 - $8,701 -
1974 $1,243 - $8,967 -
1973 $1,143 - $7,447 -
1972 $948 - $5,487 -
1971 $825 - $4,435 -
1970 $753 - $4,298 -
1969 - - $3,690 -
1968 - - $3,203 -
1967 - - $2,935 -
1966 - - $2,925 -
1965 - - $2,804 -
1964 - - $2,779 -
1963 - - $2,462 -
1962 - - $2,332 -
1961 - - $2,241 -
1960 - - $2,261 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Guinea's GDP per capita is $1,695, ranking 160/197, compared to $137,782 in Luxembourg, ranking 3/197. Adjusted for purchasing power (GDP per capita PPP), Guinea ranks 161st at $4,565, while Luxembourg ranks 1st at $155,941.

Economic indicators

Guinea Luxembourg
Gross domestic product
$25B
2024
$93.3B
2024
GDP rank
118/197
2024
74/197
2024
GDP growth
5.35%
2023-2024
0.36%
2023-2024
GDP per capita
$1,695
2024
$137,782
2024
GDP per capita rank
160/197
2024
3/197
2024
GDP per capita, PPP
$4,565
2024
$155,941
2024
GDP per capita PPP rank
161/197
2024
1/197
2024
Government debt
$12.2B
2024
$24.5B
2024
Debt-to-GDP ratio
48.8%
2024
26.3%
2024
Government debt per person
$828
2024
$36,221
2024
Government debt per person rank
147/185
2024
19/185
2024
Average annual personal income after taxes
$20,020
2026
$69,593
2026
Market capitalization of domestic companies n/a
$41.9B
2024
Number of billionaires n/a
1
2025
Income share by richest 10%
23.1%
2018
25%
2023
Income share by poorest 10%
3.5%
2018
2.8%
2023
Government expenditure, % of GDP
20.6%
2024
46.9%
2024
Consumer prices inflation
4.7%
2023-2024
2.05%
2023-2024
Unemployment rate
5.02%
2019
6.42%
2024
Population
15546235
693885

Spending and national debt comparison by year

Guinea
Spending

Debt
Luxembourg
Spending

Debt
1x
Year % of GDP
Guinea Luxembourg
Government spending Government debt Government spending Government debt
2024 20.6% 48.8% 46.9% 26.3%
2023 18.3% 40.4% 46.4% 24.7%
2022 15.7% 37.9% 44.3% 24.9%
2021 15.1% 40.6% 42.4% 24.2%
2020 17.1% 45.3% 47% 24.5%
2019 14.9% 37.3% 43.1% 22.3%
2018 15.9% 37.5% 42.3% 20.9%
2017 17.3% 39.9% 41.3% 21.8%
2016 16.1% 40.6% 40% 19.6%
2015 21.7% 41.5% 40.4% 21.1%
2014 20.1% 32.1% 40.6% 21.9%
2013 18.6% 30.5% 41.2% 22.4%
2012 19.6% 26.9% 41.8% 20.8%
2011 16% 53.8% 41.5% 18.5%
2010 20.5% 71.1% 42% 19.1%
2009 16.2% 61.3% 42.7% 15.3%
2008 10.1% 58.5% 37.9% 14.6%
2007 8.66% 60.8% 37.4% 8.09%
2006 13.2% 95.2% 39.4% 8.21%
2005 11% 97.9% 43.4% 7.95%
2004 13% 86.9% 43.7% 7.83%
2003 14.7% 81.6% 43.3% 7.43%
2002 14.4% 82.6% 41.8% 7.45%
2001 14.9% 90.4% 38.1% 7.62%
2000 12.6% 91.5% 38% 7.49%
1999 11.6% 92.3% 41.7% 8.39%
1998 10.3% 75.9% 43.9% 9.51%
1997 12.6% 67.9% 44.2% 10.1%
1996 12% 67.7% 42.5% 10.2%
1995 12.7% 66.5% 42% 10.3%
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 (1990–2024, retrieved 2026-02-20).

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

In 2024, Guinea's government spending was $5.14B, accounting for 20.6% of its GDP, while Luxembourg spent $43.7B, or 46.9% of GDP.

Debt-to-GDP ratio is 48.8% in Guinea and 26.3% in Luxembourg, ranking 111/185 and 162/185, respectively.

Government deficit by year

Deficit/surplus
Guinea

Luxembourg
1x
Year Deficit/surplus, % of GDP
Guinea Luxembourg
2024 -4.99% 1.03%
2023 -3.86% -0.78%
2022 -1.88% 0.18%
2021 -1.7% 1%
2020 -3.08% -3.09%
2019 -0.17% 2.68%
2018 -0.97% 3.17%
2017 -1.98% 1.37%
2016 -0.08% 1.89%
2015 -6.53% 1.3%
2014 -3.01% 1.33%
2013 -3.86% 0.84%
2012 23.7% 0.5%
2011 -0.92% 0.65%
2010 -9.66% -0.26%
2009 -4.87% -0.21%
2008 0.38% 3.37%
2007 1.28% 4.35%
2006 -2.13% 1.9%
2005 -1.06% -0.21%
2004 -3.85% -1.39%
2003 -4.65% 0.28%
2002 -3.37% 2.03%
2001 -3.23% 5.62%
2000 -2.42% 5.55%
1999 -1.3% 3.24%
1998 2.46% 2.98%
1997 0.07% 2.65%
1996 -2.2% 2.37%
1995 -1.07% 2.71%
1994 -2.59% -
1993 -2.33% -
1992 -0.89% -
1991 -3.25% -
1990 -3.76% -

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

GeoRank.org/economy/guinea/luxembourg | 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 Luxembourg's surplus of $961M, or 1.03% of GDP.

Over the past 30 years, Guinea recorded a fiscal deficit in 25 of those years, while Luxembourg ran a deficit in 6 years. On average, Guinea posted an annual deficit equal to 1.5% of GDP, compared to surplus of 1.57% of GDP for Luxembourg.

Inflation comparison by year

Inflation
Guinea

Luxembourg
1x
Year Consumer prices inflation
Guinea Luxembourg
2024 4.7% 2.05%
2023 5.4% 3.74%
2022 10.5% 6.34%
2021 12.6% 2.53%
2020 10.6% 0.82%
2019 9.5% 1.74%
2018 9.8% 1.53%
2017 8.9% 1.73%
2016 8.2% 0.29%
2015 8.2% 0.47%
2014 9.7% 0.63%
2013 11.9% 1.73%
2012 15.2% 2.66%
2011 21.4% 3.41%
2010 15.5% 2.27%
2009 4.7% 0.37%
2008 18.4% 3.4%
2007 22.9% 2.31%
2006 34.7% 2.67%
2005 31.4% 2.49%
2004 17.5% 2.23%
2003 11% 2.05%
2002 3% 2.07%
2001 5.4% 2.66%
2000 6.8% 3.15%
1999 4.6% 1.03%
1998 5.1% 0.96%
1997 1.9% 1.37%

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/luxembourg | CC BY

Over the past 28 years, Guinea has recorded an average annual inflation rate of 11.8%, compared with 2.1% in Luxembourg. In 2024, inflation was 4.7% in Guinea and 2.05% in Luxembourg.

Top exports between countries

Guinea
Export category Export value
Luxembourg
Export category Export value
Processed food, beverages & tobacco $1.01M
Machinery & equipment $237K
Textiles & consumer goods $156K
Animal & marine products $20K
Metals $12K
Raw materials & minerals $10K
Chemicals & pharma $7K
Miscellaneous $3K
Wood & paper products $1K

Balance of trade

Guinea Luxembourg
Current account balance
-$392M
2024
$4.1B
2024
Current account balance ranking
104/190
2024
35/190
2024
Current account balance, % of GDP
-1.57%
2024
+4.4%
2024
Goods imports
$7.08B
2024
$29.4B
2024
Goods exports
$11.6B
2024
$31.3B
2024
Service imports
$3.15B
2024
$117B
2024
Service exports
$71.2M
2024
$150B
2024
Imports of goods and services, % of GDP
56.4%
2024
159.7%
2024
Exports of goods and services, % of GDP
41.4%
2024
191.5%
2024

Economic freedom indices

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

Guinea Luxembourg
Economic freedom 53.1 79.7
Economic freedom ranking 141/197 7/197
Property rights 21.3 96.6
Government integrity 26.7 88.7
Judicial effectiveness 26 99.1
Tax burden 70.1 62.3
Government spending 90.1 36.9
Fiscal health 74.8 98.6
Business freedom 44.8 89.5
Labor freedom 56.4 56.7
Monetary freedom 75.3 74.1
Trade freedom 61.8 79.4
Investment freedom 50 95
Financial freedom 40 80

Economic freedom comparison by year

Guinea
Luxembourg
1x
Year Economic freedom index
Guinea Luxembourg
2026 53.1 79.7
2025 54.6 79.5
2024 53.3 79.2
2023 53.2 78.4
2022 54.2 80.6
2021 56.5 76
2020 56.5 75.8
2019 55.7 75.9
2018 52.2 76.4
2017 47.6 75.9
2016 53.3 73.9
2015 52.1 73.2
2014 53.5 74.2
2013 51.2 74.2
2012 50.8 74.5
2011 51.7 76.2
2010 51.8 75.4
2009 51 75.2
2008 52.8 74.7
2007 54.5 74.6
2006 52.8 75.3
2005 57.4 76.3
2004 56.1 78.9
2003 54.6 79.9
2002 52.9 79.4
2001 58.4 80.1
2000 58.2 76.4
1999 59.4 72.4
1998 61 72.7
1997 52.9 72.8
1996 58.5 72.5
1995 59.4 -

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

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

The Economic Freedom Index for Guinea is 53.1, ranking 141/197, compared to 79.7 for Luxembourg, ranking 7/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea Luxembourg
Services, % of GDP
36.3%
2024
81.2%
2024
Industry, % of GDP
25.1%
2024
9.66%
2024
Agriculture, forestry, and fishing, % of GDP
31%
2024
0.21%
2024
GNI, Atlas method
$21.3B
2024
$57.3B
2024
GNI per capita, PPP
$4,130
2024
$110,650
2024
Total reserves including gold
$1.89B
2023
$2.79B
2024
Total reserves ranking
128/177
2023
119/177
2024
Net foreign direct investment
-$1.4B
2024
$21.4B
2024
Net inflows of foreign direct investment
$1.4B
2024
$106B
2024
Net outflows of foreign direct investment
$30K
2024
$109B
2024
Servicing debt to the IMF, % of GNI
1.94%
2024
n/a
Poverty at national poverty lines
47%
2020
17.3%
2021
Gross capital formation, % of GDP
32.1%
2024
15.8%
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/luxembourg | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, 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 (2023–2024, 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.