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Economy of Guinea vs Togo compared: GDP & Debt

Updated on by Georank team

Guinea has a GDP of $25B compared to $10.7B for Togo, ranking 118/197 and 154/197 by economy size, respectively.

Guinea has $12.2B in government debt (48.8% of GDP), compared to $7.68B (72.1% of GDP) in Togo.

Guinea vs Togo GDP by year

Guinea
Togo
1x
Year GDP, current $
Guinea Togo
2024 $25,008,678,293 $10,651,180,147
2023 $22,407,615,556 $9,816,236,303
2022 $19,910,452,542 $8,646,453,099
2021 $17,069,115,738 $8,541,668,141
2020 $14,088,693,743 $7,486,031,562
2019 $13,442,861,496 $6,992,654,019
2018 $11,857,030,367 $7,029,215,766
2017 $10,324,668,271 $6,387,424,240
2016 $8,595,955,222 $6,071,167,584
2015 $8,794,201,743 $5,755,457,836
2014 $8,778,473,373 $6,393,314,708
2013 $8,376,613,539 $6,021,729,630
2012 $7,638,044,557 $5,413,541,649
2011 $6,785,137,203 $5,422,439,152
2010 $6,853,467,146 $4,746,386,893
2009 $6,716,905,340 $4,721,888,275
2008 $6,964,179,983 $4,578,847,113
2007 $6,281,918,226 $3,759,962,853
2006 $4,220,019,845 $3,320,907,722
2005 $4,282,468,637 $3,221,910,408
2004 $5,300,767,961 $3,191,561,509
2003 $5,025,167,975 $2,987,984,051
2002 $4,301,608,753 $2,410,199,032
2001 $4,125,527,603 $2,093,498,674
2000 $4,367,458,867 $2,106,848,752
1999 $5,046,806,783 $2,226,577,204
1998 $5,232,118,046 $2,241,650,112
1997 $5,516,916,163 $2,116,818,623
1996 $5,641,243,100 $2,069,506,014
1995 $5,385,704,166 $1,849,110,468
1994 $4,932,800,407 $1,387,662,121
1993 $4,781,166,117 $1,741,944,426
1992 $4,789,220,417 $2,390,796,916
1991 $4,396,178,694 $2,262,767,860
1990 $3,888,320,666 $2,299,665,506
1989 $3,546,079,263 $1,910,635,575
1988 $3,476,480,303 $1,947,208,354
1987 $2,976,714,019 $1,763,978,066
1986 $2,909,130,355 $1,498,219,579
1985 $22,787,644,566 $1,076,604,520
1984 $18,421,497,251 $1,014,170,069
1983 $15,129,893,722 $1,081,387,265
1982 $11,926,032,493 $1,160,337,039
1981 $9,646,440,667 $1,359,026,709
1980 $9,746,524,915 $1,604,836,916
1979 $8,877,094,497 $1,259,365,712
1978 $8,087,305,999 $1,164,025,637
1977 $6,914,381,291 $1,097,893,826
1976 $6,762,781,871 $874,681,612
1975 $6,102,769,605 $871,781,687
1974 $5,691,417,541 $791,450,308
1973 $5,152,080,388 $574,030,984
1972 $4,203,069,035 $474,043,922
1971 $3,594,302,908 $404,648,368
1970 $3,220,224,608 $358,665,754
1969 - $378,091,810
1968 - $341,691,567
1967 - $327,215,844
1966 - $305,227,595
1965 - $264,505,506
1964 - $234,572,186
1963 - $202,305,865
1962 - $186,745,758
1961 - $178,497,098
1960 - $171,057,069

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

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

GDP per capita in Guinea vs Togo by year

Guinea
GDP per capita

GDP per capita, PPP
Togo
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea Togo
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,695 $4,565 $1,119 $3,365
2023 $1,555 $4,334 $1,055 $3,154
2022 $1,417 $4,062 $951 $2,935
2021 $1,245 $3,739 $962 $2,639
2020 $1,054 $3,332 $863 $2,384
2019 $1,031 $3,106 $826 $2,215
2018 $933 $2,844 $851 $2,067
2017 $834 $2,687 $793 $1,986
2016 $712 $2,255 $773 $1,933
2015 $747 $1,930 $751 $1,880
2014 $765 $1,873 $856 $1,803
2013 $748 $1,842 $827 $1,715
2012 $699 $1,790 $762 $1,645
2011 $637 $1,705 $784 $1,616
2010 $659 $1,622 $705 $1,537
2009 $662 $1,567 $721 $1,474
2008 $704 $1,614 $719 $1,429
2007 $650 $1,558 $608 $1,387
2006 $447 $1,453 $553 $1,407
2005 $463 $1,422 $551 $1,368
2004 $585 $1,366 $560 $1,427
2003 $566 $1,328 $538 $1,440
2002 $496 $1,315 $445 $1,357
2001 $483 $1,251 $397 $1,320
2000 $518 $1,196 $410 $1,315
1999 $611 $1,163 $445 $1,332
1998 $647 $1,130 $461 $1,318
1997 $696 $1,099 $448 $1,373
1996 $726 $1,048 $452 $1,218
1995 $713 $1,014 $419 $1,140
1994 $672 $976 $329 $1,082
1993 $671 $947 $414 $925
1992 $693 $908 $565 $1,057
1991 $656 $887 $550 $1,107
1990 $604 $871 $575 $1,110
1989 $570 - $492 -
1988 $574 - $517 -
1987 $505 - $482 -
1986 $506 - $422 -
1985 $4,062 - $313 -
1984 $3,362 - $304 -
1983 $2,823 - $336 -
1982 $2,273 - $372 -
1981 $1,876 - $451 -
1980 $1,931 - $549 -
1979 $1,790 - $443 -
1978 $1,658 - $421 -
1977 $1,440 - $406 -
1976 $1,431 - $332 -
1975 $1,311 - $339 -
1974 $1,243 - $315 -
1973 $1,143 - $234.4 -
1972 $948 - $198.8 -
1971 $825 - $174.6 -
1970 $753 - $159.8 -
1969 - - $174.7 -
1968 - - $164.3 -
1967 - - $163.9 -
1966 - - $159.1 -
1965 - - $142.7 -
1964 - - $130.1 -
1963 - - $114.6 -
1962 - - $107.8 -
1961 - - $104.8 -
1960 - - $102.2 -

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

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

Guinea's GDP per capita is $1,695, ranking 160/197, compared to $1,119 in Togo, ranking 172/197. Adjusted for purchasing power (GDP per capita PPP), Guinea ranks 161st at $4,565, while Togo ranks 173rd at $3,365.

Economic indicators

Guinea Togo
Gross domestic product
$25B
2024
$10.7B
2024
GDP rank
118/197
2024
154/197
2024
GDP growth
5.35%
2023-2024
6.53%
2023-2024
GDP per capita
$1,695
2024
$1,119
2024
GDP per capita rank
160/197
2024
172/197
2024
GDP per capita, PPP
$4,565
2024
$3,365
2024
GDP per capita PPP rank
161/197
2024
173/197
2024
Government debt
$12.2B
2024
$7.68B
2024
Debt-to-GDP ratio
48.8%
2024
72.1%
2024
Government debt per person
$828
2024
$807
2024
Government debt per person rank
147/185
2024
149/185
2024
Average annual personal income after taxes
$20,020
2026
$1,661
2026
Income share by richest 10%
23.1%
2018
29.6%
2021
Income share by poorest 10%
3.5%
2018
2.8%
2021
Government expenditure, % of GDP
20.6%
2024
26.4%
2024
Consumer prices inflation
4.7%
2023-2024
2.86%
2023-2024
Unemployment rate
5.02%
2019
1.97%
2022
Population
15546235
9990340

Spending and national debt comparison by year

Guinea
Spending

Debt
Togo
Spending

Debt
1x
Year % of GDP
Guinea Togo
Government spending Government debt Government spending Government debt
2024 20.6% 48.8% 26.4% 72.1%
2023 18.3% 40.4% 26.6% 68.6%
2022 15.7% 37.9% 26% 67%
2021 15.1% 40.6% 21.8% 64.9%
2020 17.1% 45.3% 23.7% 62.2%
2019 14.9% 37.3% 16.6% 54.9%
2018 15.9% 37.5% 18.8% 58%
2017 17.3% 39.9% 16.3% 57.1%
2016 16.1% 40.6% 22.9% 59.9%
2015 21.7% 41.5% 22.9% 52.4%
2014 20.1% 32.1% 21.9% 44.9%
2013 18.6% 30.5% 20.5% 41.1%
2012 19.6% 26.9% 19.1% 34.3%
2011 16% 53.8% 18.2% 37%
2010 20.5% 71.1% 15.1% 33.5%
2009 16.2% 61.3% 14.3% 57.6%
2008 10.1% 58.5% 12.4% 67.3%
2007 8.66% 60.8% 13.7% 70.5%
2006 13.2% 95.2% 14.7% 67.7%
2005 11% 97.9% 13.3% 63.1%
2004 13% 86.9% 10.6% 48.7%
2003 14.7% 81.6% 8.88% 50%
2002 14.4% 82.6% 8.42% 54.8%
2001 14.9% 90.4% 10.9% 68.5%
2000 12.6% 91.5% 11.9% 66.5%
1999 11.6% 92.3% 11.9% 59.9%
1998 10.3% 75.9% 12.8% 62.8%
1997 12.6% 67.9% 10.6% 54.4%
1996 12% 67.7% 12.4% 60.4%
1995 12.7% 66.5% 12.7% 64.8%
1994 12.6% 71.3% 13.2% 79%
1993 13.3% 68.9% 14.8% 58.3%
1992 13.8% 62% 12.6% 45%
1991 16.3% 70.9% 14.6% 46.9%
1990 18.7% 71.6% 16.8% 44.7%
1989 - - 16.9% 46.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989–2004, retrieved 2026-02-20).

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

In 2024, Guinea's government spending was $5.14B, accounting for 20.6% of its GDP, while Togo spent $2.81B, or 26.4% of GDP.

Debt-to-GDP ratio is 48.8% in Guinea and 72.1% in Togo, ranking 111/185 and 54/185, respectively.

Government deficit by year

Deficit/surplus
Guinea

Togo
1x
Year Deficit/surplus, % of GDP
Guinea Togo
2024 -4.99% -7.43%
2023 -3.86% -6.73%
2022 -1.88% -8.33%
2021 -1.7% -4.65%
2020 -3.08% -7.05%
2019 -0.17% 1.67%
2018 -0.97% -0.59%
2017 -1.98% -0.21%
2016 -0.08% -7.02%
2015 -6.53% -7.04%
2014 -3.01% -7.11%
2013 -3.86% -5.08%
2012 23.7% -4.63%
2011 -0.92% -4.48%
2010 -9.66% -1.66%
2009 -4.87% -2.63%
2008 0.38% -0.59%
2007 1.28% -1.83%
2006 -2.13% -1.94%
2005 -1.06% -1.67%
2004 -3.85% 0.61%
2003 -4.65% 1.43%
2002 -3.37% -0.28%
2001 -3.23% -0.72%
2000 -2.42% -3.45%
1999 -1.3% -1.76%
1998 2.46% -3.25%
1997 0.07% -0.98%
1996 -2.2% -3.26%
1995 -1.07% -2.97%
1994 -2.59% -5.37%
1993 -2.33% -8.46%
1992 -0.89% -2.27%
1991 -3.25% -3.52%
1990 -3.76% -1.65%
1989 - -2.18%

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

GeoRank.org/economy/guinea/togo | 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 Togo's deficit of $791M, or 7.43% of GDP.

Over the past 35 years, Guinea recorded a fiscal deficit in 30 of those years, while Togo ran a deficit in 32 years. On average, Guinea posted an annual deficit equal to 1.65% of GDP, compared to deficit of 3.28% of GDP for Togo.

Inflation comparison by year

Inflation
Guinea

Togo
1x
Year Consumer prices inflation
Guinea Togo
2024 4.7% 2.86%
2023 5.4% 5.49%
2022 10.5% 7.97%
2021 12.6% 4.19%
2020 10.6% 1.7%
2019 9.5% 0.67%
2018 9.8% 0.93%
2017 8.9% -0.98%
2016 8.2% 1.29%
2015 8.2% 2.59%
2014 9.7% 0.19%
2013 11.9% 1.83%
2012 15.2% 2.58%
2011 21.4% 3.56%
2010 15.5% 1.45%
2009 4.7% 3.71%
2008 18.4% 8.69%
2007 22.9% 0.95%
2006 34.7% 2.23%
2005 31.4% 6.78%
2004 17.5% 0.39%
2003 11% -0.93%
2002 3% 3.06%
2001 5.4% 3.92%
2000 6.8% 1.86%
1999 4.6% -0.05%
1998 5.1% 0.98%
1997 1.9% 8.25%

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/togo | CC BY

Over the past 28 years, Guinea has recorded an average annual inflation rate of 11.8%, compared with 2.72% in Togo. In 2024, inflation was 4.7% in Guinea and 2.86% in Togo.

Top exports between countries

Guinea
Export category Export value
Miscellaneous $3K
Machinery & equipment $1K
Togo
Export category Export value
Textiles & consumer goods $1.6M
Processed food, beverages & tobacco $1.24M
Chemicals & pharma $584K
Machinery & equipment $513K
Raw agricultural goods $226K
Animal & marine products $65K
Metals $48K
Wood & paper products $27K
Weapons & explosives $10K
Raw materials & minerals $3K

Balance of trade

Guinea Togo
Current account balance
-$392M
2024
-$20.7M
2020
Current account balance ranking
104/190
2024
79/190
2020
Current account balance, % of GDP
-1.57%
2024
-0.28%
2020
Goods imports
$7.08B
2024
$1.95B
2020
Goods exports
$11.6B
2024
$1.21B
2020
Service imports
$3.15B
2024
$438M
2020
Service exports
$71.2M
2024
$514M
2020
Imports of goods and services, % of GDP
56.4%
2024
38.1%
2024
Exports of goods and services, % of GDP
41.4%
2024
24.4%
2024

Economic freedom indices

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

Guinea Togo
Economic freedom 53.1 51.6
Economic freedom ranking 141/197 153/197
Property rights 21.3 43.6
Government integrity 26.7 33.3
Judicial effectiveness 26 34
Tax burden 70.1 68.9
Government spending 90.1 79.2
Fiscal health 74.8 9.6
Business freedom 44.8 60.1
Labor freedom 56.4 51.9
Monetary freedom 75.3 72.5
Trade freedom 61.8 65.8
Investment freedom 50 60
Financial freedom 40 40

Economic freedom comparison by year

Guinea
Togo
1x
Year Economic freedom index
Guinea Togo
2026 53.1 51.6
2025 54.6 52.3
2024 53.3 50.9
2023 53.2 55.3
2022 54.2 57.2
2021 56.5 57.5
2020 56.5 54.1
2019 55.7 50.3
2018 52.2 47.8
2017 47.6 53.2
2016 53.3 53.6
2015 52.1 53
2014 53.5 49.9
2013 51.2 48.8
2012 50.8 48.3
2011 51.7 49.1
2010 51.8 47.1
2009 51 48.7
2008 52.8 48.9
2007 54.5 49.7
2006 52.8 47.3
2005 57.4 48.2
2004 56.1 47
2003 54.6 46.8
2002 52.9 45.2
2001 58.4 45.3
2000 58.2 46.4
1999 59.4 48.2
1998 61 -
1997 52.9 -
1996 58.5 -
1995 59.4 -

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

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

The Economic Freedom Index for Guinea is 53.1, ranking 141/197, compared to 51.6 for Togo, ranking 153/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guinea Togo
Services, % of GDP
36.3%
2024
49.2%
2024
Industry, % of GDP
25.1%
2024
20.4%
2024
Agriculture, forestry, and fishing, % of GDP
31%
2024
21.3%
2024
GNI, Atlas method
$21.3B
2024
$10.3B
2024
GNI per capita, PPP
$4,130
2024
$3,380
2024
Total reserves including gold
$1.89B
2023
n/a
Total reserves ranking
128/177
2023
n/a
Net foreign direct investment
-$1.4B
2024
-$53.1M
2020
Net inflows of foreign direct investment
$1.4B
2024
$83.8M
2024
Net outflows of foreign direct investment
$30K
2024
-$73.4M
2024
Servicing debt to the IMF, % of GNI
1.94%
2024
3.21%
2024
Poverty at national poverty lines
47%
2020
43.8%
2021
Gross capital formation, % of GDP
32.1%
2024
20.8%
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/togo | 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 (1989–2004, 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.