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flag Guinea Guinea: Trade Profile

Foreign Trade in Figures

Guinea is open to foreign trade, which is mainly sustained by the trade of raw materials which are abundant in the country (iron, gold, diamonds). Foreign trade represents the largest share of GDP. The country is a member of the WTO and ECOWAS, and is negotiating economic partnerships with the EU as an ACP member country.

Customs duties are relatively high but Guinea continues to work towards opening up more its economy by reducing other non-tariff barriers. Nepotism, corruption, unskilled manpower and the lack of transparency when paying customs duties and other taxes are some of the factors limiting the country's trade development.

Guinea's trade balance shows a slight deficit, its balance has improved due to the rebound in exports.

Guinea mainly exports ores and precious stones (bauxite, aluminum, gold and diamonds), coffee, fish and agricultural products to India, Spain, Chile, Russia, Germany, Ireland, the United States and France. It imports mainly petro-products, metals, machinery, transport equipment, textiles and foodstuffs from China, the Netherlands, France and the United Kingdom.

 
Foreign Trade Indicators 20072008200920102011
Imports of Goods (million USD) 1,2181,3661,0601,1002,000
Exports of Goods (million USD) 1,2031,3421,0501,4501,750
Imports of Services (million USD) 248834288381-
Exports of Services (million USD) 441576761-
Imports of Goods and Services (Annual % Change) 28170-
Exports of Goods and Services (Annual % Change) 6831-
Trade Balance (million USD) -14-24-1066-
Current Account (million USD) 382-1,201-403--
Foreign Trade (in % of GDP) 65728574-
Imports of Goods and Services (in % of GDP) 35394539-
Exports of Goods and Services (in % of GDP) 30334035-

Source: WTO - World Trade Organization ; World Bank - Last Available Data.

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Main Partner Countries

Main Customers
(% of Exports)
2008
France 24.5%
Switzerland 19.5%
Russia 10.6%
Spain 9.9%
Ireland 7.4%
See More Countries 28.2%
Main Suppliers
(% of Imports)
2008
Netherlands 20.6%
France 10.1%
United Kingdom 7.9%
China 6.7%
Belgium 5.2%
See More Countries 49.5%

Source: Comtrade, Last Available Data

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Main Products

Main Exports
(% of Exports)
2008
Aluminium ores and concentratesAluminium ores and concentrates 40.1%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 32.0%
Artificial corundum, whether or not chemically...Artificial corundum, whether or not chemically defined; aluminium oxide; aluminium hydroxide 11.7%
Unused postage, revenue or similar stamps of...Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognised face value; stamp-impressed paper; banknotes; cheque forms; stock, share or bond certificates and similar documents of title 7.9%
Natural rubber, balata, gutta-percha, guayule,...Natural rubber, balata, gutta-percha, guayule, chicle and similar natural gums, in primary forms or in plates, sheets or strip 1.6%
See More Products 6.8%
Main Imports
(% of Imports)
2008
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 32.8%
Parts suitable for use solely or principally with...Parts suitable for use solely or principally with the machinery of heading 8425 to 8430, n.e.s. 5.2%
RiceRice 4.1%
Cement, incl. cement clinkers, whether or not...Cement, incl. cement clinkers, whether or not coloured 3.7%
Electrical apparatus for line telephony or line...Electrical apparatus for line telephony or line telegraphy, incl. line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones; parts thereof 3.1%
See More Products 51.1%

Source: Comtrade, Last Available Data

 

To go further, check out our service Import export flows

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Commercial Policy

Main International Economic Cooperation
Member of World Trade Organisation
Member of the African Union

Member of the Economic Community of West African States (ECOWAS)

Member of the ‘Mano River Union’ which aims to form a Customs union bringing together Guinea, Sierra Leone and Liberia.

Assessment of Commercial Policy
Country’s commercial policy
Average Customs Duty (Excluding Agricultural Products)
14.24%
 

List of tariffs and local taxes that apply to your product on our service Customs duties and local taxes

 
Useful Resources
The national customs website



Egyptian Embassy in Guinea
2 COLEAH CORNICHE SUD
389 CONAKRY
Phone: (+224) 30468508
Fax: (+224) 30468507
Contact the Embassy via Email.

National Organization of Intellectual Property
You can contact the National Service of Industrial Property by Email.
 

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Learn more about How to Export to Guinea on Globaltrade.net, the Directory for International Trade Service Providers.
 

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Last Updates: May 2012

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