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Economy of Guinea vs Tanzania compared: GDP & Debt

Updated on by Georank team

Guinea has a GDP of $25B compared to $78.8B for Tanzania, ranking 118/197 and 82/197 by economy size, respectively.

Guinea has $12.2B in government debt (48.8% of GDP), compared to $39.3B (49.9% of GDP) in Tanzania.

Guinea vs Tanzania GDP by year

Guinea
Tanzania
1x
Year GDP, current $
Guinea Tanzania
2024 $25,008,678,293 $78,844,405,385
2023 $22,407,615,556 $79,030,935,627
2022 $19,910,452,542 $75,749,121,843
2021 $17,069,115,738 $70,655,628,148
2020 $14,088,693,743 $66,068,737,786
2019 $13,442,861,496 $61,026,731,926
2018 $11,857,030,367 $57,003,712,892
2017 $10,324,668,271 $53,274,884,533
2016 $8,595,955,222 $49,774,409,374
2015 $8,794,201,743 $47,413,919,817
2014 $8,778,473,373 $49,986,726,461
2013 $8,376,613,539 $45,648,857,242
2012 $7,638,044,557 $39,650,394,363
2011 $6,785,137,203 $34,657,140,096
2010 $6,853,467,146 $32,012,892,919
2009 $6,716,905,340 $29,400,573,554
2008 $6,964,179,983 $27,947,821,398
2007 $6,281,918,226 $21,860,434,823
2006 $4,220,019,845 $18,619,859,795
2005 $4,282,468,637 $18,395,383,647
2004 $5,300,767,961 $16,673,062,473
2003 $5,025,167,975 $15,211,487,709
2002 $4,301,608,753 $14,129,651,896
2001 $4,125,527,603 $13,563,990,022
2000 $4,367,458,867 $13,371,767,082
1999 $5,046,806,783 $12,704,334,196
1998 $5,232,118,046 $12,172,790,056
1997 $5,516,916,163 $11,158,197,942
1996 $5,641,243,100 $9,433,528,150
1995 $5,385,704,166 $7,631,431,840
1994 $4,932,800,407 $6,550,480,484
1993 $4,781,166,117 $6,182,872,708
1992 $4,789,220,417 $6,681,997,469
1991 $4,396,178,694 $7,197,768,159
1990 $3,888,320,666 $6,184,384,225
1989 $3,546,079,263 $6,418,799,007
1988 $3,476,480,303 $7,406,614,407
1987 $2,976,714,019 $7,824,193,222
1986 $2,909,130,355 $10,840,864,521
1985 $22,787,644,566 $15,328,295,175
1984 $18,421,497,251 $12,906,635,133
1983 $15,129,893,722 $14,049,883,809
1982 $11,926,032,493 $13,927,383,240
1981 $9,646,440,667 $13,161,540,378
1980 $9,746,524,915 $11,409,228,087
1979 $8,877,094,497 $9,804,637,491
1978 $8,087,305,999 $9,261,675,710
1977 $6,914,381,291 $7,732,598,995
1976 $6,762,781,871 $6,472,511,988
1975 $6,102,769,605 $5,729,917,840
1974 $5,691,417,541 $4,977,337,978
1973 $5,152,080,388 $4,144,104,535
1972 $4,203,069,035 $3,472,787,266
1971 $3,594,302,908 $3,050,673,517
1970 $3,220,224,608 $2,851,419,386
1969 - $5,142,066,811
1968 - $4,895,251,824
1967 - $4,565,132,048
1966 - $4,377,998,825
1965 - $3,817,226,546
1964 - $3,748,840,925
1963 - $3,456,579,293
1962 - $3,101,589,993
1961 - $2,826,179,031
1960 - $2,651,729,807

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

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

GDP per capita in Guinea vs Tanzania by year

Guinea
GDP per capita

GDP per capita, PPP
Tanzania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea Tanzania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,695 $4,565 $1,150 $4,221
2023 $1,555 $4,334 $1,186 $4,019
2022 $1,417 $4,062 $1,171 $3,800
2021 $1,245 $3,739 $1,125 $3,493
2020 $1,054 $3,332 $1,084 $3,291
2019 $1,031 $3,106 $1,031 $2,982
2018 $933 $2,844 $992 $2,728
2017 $834 $2,687 $957 $2,472
2016 $712 $2,255 $925 $2,435
2015 $747 $1,930 $911 $2,317
2014 $765 $1,873 $993 $2,221
2013 $748 $1,842 $935 $2,176
2012 $699 $1,790 $837 $2,083
2011 $637 $1,705 $753 $2,211
2010 $659 $1,622 $715 $2,069
2009 $662 $1,567 $674 $1,972
2008 $704 $1,614 $657 $1,908
2007 $650 $1,558 $528 $1,820
2006 $447 $1,453 $462 $1,707
2005 $463 $1,422 $469 $1,598
2004 $585 $1,366 $438 $1,482
2003 $566 $1,328 $410 $1,379
2002 $496 $1,315 $391 $1,302
2001 $483 $1,251 $385 $1,229
2000 $518 $1,196 $390 $1,164
1999 $611 $1,163 $382 $1,120
1998 $647 $1,130 $375 $1,082
1997 $696 $1,099 $353 $1,059
1996 $726 $1,048 $305 $1,026
1995 $713 $1,014 $251.2 $981
1994 $672 $976 $222.5 $958
1993 $671 $947 $218.2 $959
1992 $693 $908 $243.4 $955
1991 $656 $887 $268.8 $952
1990 $604 $871 $236.9 $925
1989 $570 - $252.3 -
1988 $574 - $299 -
1987 $505 - $326 -
1986 $506 - $466 -
1985 $4,062 - $681 -
1984 $3,362 - $593 -
1983 $2,823 - $667 -
1982 $2,273 - $683 -
1981 $1,876 - $665 -
1980 $1,931 - $595 -
1979 $1,790 - $527 -
1978 $1,658 - $515 -
1977 $1,440 - $446 -
1976 $1,431 - $387 -
1975 $1,311 - $355 -
1974 $1,243 - $320 -
1973 $1,143 - $276.1 -
1972 $948 - $239.8 -
1971 $825 - $218.4 -
1970 $753 - $211.3 -
1969 - - $394 -
1968 - - $388 -
1967 - - $374 -
1966 - - $370 -
1965 - - $333 -
1964 - - $337 -
1963 - - $320 -
1962 - - $295.7 -
1961 - - $277.4 -
1960 - - $267.8 -

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

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

Guinea's GDP per capita is $1,695, ranking 160/197, compared to $1,150 in Tanzania, ranking 170/197. Adjusted for purchasing power (GDP per capita PPP), Guinea ranks 161st at $4,565, while Tanzania ranks 165th at $4,221.

Economic indicators

Guinea Tanzania
Gross domestic product
$25B
2024
$78.8B
2024
GDP rank
118/197
2024
82/197
2024
GDP growth
5.35%
2023-2024
5.53%
2023-2024
GDP per capita
$1,695
2024
$1,150
2024
GDP per capita rank
160/197
2024
170/197
2024
GDP per capita, PPP
$4,565
2024
$4,221
2024
GDP per capita PPP rank
161/197
2024
165/197
2024
Government debt
$12.2B
2024
$39.3B
2024
Debt-to-GDP ratio
48.8%
2024
49.9%
2024
Government debt per person
$828
2024
$573
2024
Government debt per person rank
147/185
2024
160/185
2024
Average annual personal income after taxes
$20,020
2026
$2,309
2026
Market capitalization of domestic companies n/a
$7.32B
2024
Number of billionaires n/a
1
2025
Income share by richest 10%
23.1%
2018
33.1%
2018
Income share by poorest 10%
3.5%
2018
2.9%
2018
Government expenditure, % of GDP
20.6%
2024
19.1%
2024
Consumer prices inflation
4.7%
2023-2024
3.06%
2023-2024
Central bank interest rate n/a
6%
2024
Unemployment rate
5.02%
2019
2.43%
2024
Population
15546235
73145892

Spending and national debt comparison by year

Guinea
Spending

Debt
Tanzania
Spending

Debt
1x
Year % of GDP
Guinea Tanzania
Government spending Government debt Government spending Government debt
2024 20.6% 48.8% 19.1% 49.9%
2023 18.3% 40.4% 19% 47.8%
2022 15.7% 37.9% 19.1% 44.9%
2021 15.1% 40.6% 18.4% 43.4%
2020 17.1% 45.3% 17.4% 41.3%
2019 14.9% 37.3% 17.3% 40.4%
2018 15.9% 37.5% 17.3% 42%
2017 17.3% 39.9% 16.4% 40.1%
2016 16.1% 40.6% 16.9% 39.8%
2015 21.7% 41.5% 17.2% 39.5%
2014 20.1% 32.1% 17.3% 36.4%
2013 18.6% 30.5% 18.8% 32.7%
2012 19.6% 26.9% 19.6% 30%
2011 16% 53.8% 19% 28.4%
2010 20.5% 71.1% 19.8% 27.6%
2009 16.2% 61.3% 19.6% 23.9%
2008 10.1% 58.5% 18.1% 21.6%
2007 8.66% 60.8% 17.8% 23.8%
2006 13.2% 95.2% 17.6% 17.4%
2005 11% 97.9% 18.3% 25.4%
2004 13% 86.9% 17% 44.5%
2003 14.7% 81.6% 15.4% 44.4%
2002 14.4% 82.6% 13.6% 47.4%
2001 14.9% 90.4% 12.4% 50.8%
2000 12.6% 91.5% 12.3% 55.4%
1999 11.6% 92.3% 12.8% 62.9%
1998 10.3% 75.9% 11.4% 62.2%
1997 12.6% 67.9% 12.8% 73.4%
1996 12% 67.7% 13.4% 89.6%
1995 12.7% 66.5% 15.6% 111.1%
1994 12.6% 71.3% 16.8% 126%
1993 13.3% 68.9% 16.4% 129.2%
1992 13.8% 62% 17.6% 117.6%
1991 16.3% 70.9% 14.2% 106.5%
1990 18.7% 71.6% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1991–2000, retrieved 2026-02-20).

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

In 2024, Guinea's government spending was $5.14B, accounting for 20.6% of its GDP, while Tanzania spent $15.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 48.8% in Guinea and 49.9% in Tanzania, ranking 111/185 and 109/185, respectively.

Government deficit by year

Deficit/surplus
Guinea

Tanzania
1x
Year Deficit/surplus, % of GDP
Guinea Tanzania
2024 -4.99% -3.03%
2023 -3.86% -3.67%
2022 -1.88% -3.92%
2021 -1.7% -3.55%
2020 -3.08% -2.56%
2019 -0.17% -2.06%
2018 -0.97% -2.01%
2017 -1.98% -1.14%
2016 -0.08% -2.08%
2015 -6.53% -3.17%
2014 -3.01% -2.91%
2013 -3.86% -3.76%
2012 23.7% -4%
2011 -0.92% -3.51%
2010 -9.66% -4.74%
2009 -4.87% -4.46%
2008 0.38% -1.92%
2007 1.28% -1.44%
2006 -2.13% -3.38%
2005 -1.06% -3.28%
2004 -3.85% -2.43%
2003 -4.65% -1.77%
2002 -3.37% -0.73%
2001 -3.23% -0.41%
2000 -2.42% -0.73%
1999 -1.3% -1.14%
1998 2.46% 0.13%
1997 0.07% -0.03%
1996 -2.2% 1.57%
1995 -1.07% -2.12%
1994 -2.59% -3.74%
1993 -2.33% -2.02%
1992 -0.89% -4.96%
1991 -3.25% 0.6%
1990 -3.76% -

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

GeoRank.org/economy/guinea/tanzania | 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 Tanzania's deficit of $2.39B, or 3.03% of GDP.

Over the past 34 years, Guinea recorded a fiscal deficit in 29 of those years, while Tanzania ran a deficit in 31 years. On average, Guinea posted an annual deficit equal to 1.59% of GDP, compared to deficit of 2.3% of GDP for Tanzania.

Inflation comparison by year

Inflation
Guinea

Tanzania
1x
Year Consumer prices inflation
Guinea Tanzania
2024 4.7% 3.06%
2023 5.4% 3.8%
2022 10.5% 4.35%
2021 12.6% 3.69%
2020 10.6% 3.29%
2019 9.5% 3.46%
2018 9.8% 3.49%
2017 8.9% 5.32%
2016 8.2% 5.17%
2015 8.2% 5.59%
2014 9.7% 6.13%
2013 11.9% 7.87%
2012 15.2% 16%
2011 21.4% 12.7%
2010 15.5% 6.2%
2009 4.7% 12.1%
2008 18.4% 10.3%
2007 22.9% 7.03%
2006 34.7% 7.25%
2005 31.4% 5.03%
2004 17.5% 4.74%
2003 11% 5.3%
2002 3% 5.32%
2001 5.4% 5.15%
2000 6.8% 5.92%
1999 4.6% 7.89%
1998 5.1% 12.8%
1997 1.9% 16.1%

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/tanzania | CC BY

Over the past 28 years, Guinea has recorded an average annual inflation rate of 11.8%, compared with 6.97% in Tanzania. In 2024, inflation was 4.7% in Guinea and 3.06% in Tanzania.

Top exports between countries

Guinea
Export category Export value
Textiles & consumer goods $25K
Tanzania
Export category Export value
Machinery & equipment $799K
Textiles & consumer goods $612K
Chemicals & pharma $508K
Raw materials & minerals $353K
Processed food, beverages & tobacco $269K
Metals $45K

Balance of trade

Guinea Tanzania
Current account balance
-$392M
2024
-$2.38B
2024
Current account balance ranking
104/190
2024
147/190
2024
Current account balance, % of GDP
-1.57%
2024
-3.02%
2024
Goods imports
$7.08B
2024
$14.2B
2024
Goods exports
$11.6B
2024
$9.12B
2024
Service imports
$3.15B
2024
$2.8B
2024
Service exports
$71.2M
2024
$6.85B
2024
Imports of goods and services, % of GDP
56.4%
2024
21.7%
2024
Exports of goods and services, % of GDP
41.4%
2024
19.8%
2024

Economic freedom indices

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

Guinea Tanzania
Economic freedom 53.1 59
Economic freedom ranking 141/197 106/197
Property rights 21.3 45.2
Government integrity 26.7 40.9
Judicial effectiveness 26 29.6
Tax burden 70.1 80.4
Government spending 90.1 89.1
Fiscal health 74.8 75
Business freedom 44.8 48.1
Labor freedom 56.4 62.3
Monetary freedom 75.3 73.4
Trade freedom 61.8 58.8
Investment freedom 50 55
Financial freedom 40 50

Economic freedom comparison by year

Guinea
Tanzania
1x
Year Economic freedom index
Guinea Tanzania
2026 53.1 59
2025 54.6 59.3
2024 53.3 59.1
2023 53.2 60
2022 54.2 59.5
2021 56.5 61.3
2020 56.5 61.7
2019 55.7 60.2
2018 52.2 59.9
2017 47.6 58.6
2016 53.3 58.5
2015 52.1 57.5
2014 53.5 57.8
2013 51.2 57.9
2012 50.8 57
2011 51.7 57
2010 51.8 58.3
2009 51 58.3
2008 52.8 56.5
2007 54.5 56.8
2006 52.8 58.5
2005 57.4 56.3
2004 56.1 60.1
2003 54.6 56.9
2002 52.9 58.3
2001 58.4 54.9
2000 58.2 56
1999 59.4 60
1998 61 59.6
1997 52.9 59.3
1996 58.5 57.5
1995 59.4 57.3

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

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

The Economic Freedom Index for Guinea is 53.1, ranking 141/197, compared to 59 for Tanzania, ranking 106/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea Tanzania
Services, % of GDP
36.3%
2024
29.6%
2024
Industry, % of GDP
25.1%
2024
28.6%
2024
Agriculture, forestry, and fishing, % of GDP
31%
2024
23.3%
2024
GNI, Atlas method
$21.3B
2024
$80.2B
2024
GNI per capita, PPP
$4,130
2024
$4,130
2024
Total reserves including gold
$1.89B
2023
$5.05B
2018
Total reserves ranking
128/177
2023
101/177
2018
Net foreign direct investment
-$1.4B
2024
-$1.72B
2024
Net inflows of foreign direct investment
$1.4B
2024
$1.72B
2024
Net outflows of foreign direct investment
$30K
2024
$0
2024
Servicing debt to the IMF, % of GNI
1.94%
2024
2.57%
2024
Poverty at national poverty lines
47%
2020
26.4%
2018
Gross capital formation, % of GDP
32.1%
2024
39.8%
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/tanzania | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1991–2000, retrieved 2026-02-20)
  6. TradeMap (2016–2024, 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.