Guinea-Bissau

Republic of Guinea-Bissau

Region: West Africa · ISO code: GNB

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Economy

Nominal GDP

USD 2.27 billion

GDP per capita

USD 979

2021–2025 average

Currency

Name: West African CFA franc (BCEAO)
Франк КФА BCEAO
ISO code: XOF
Rate against the US dollar: USD 1 = 579.64 XOF
Rate against the rouble: 10 XOF = 1.4416 RUB
Rate type: Cross rate via the Bank of Russia USD/RUB rate
Currency zone: West African CFA franc (XOF)
Note: Fixed peg to the euro: EUR 1 = XOF 655.957

Exchange rate as of 1 October 2026

Economic structure

GDP structure: 2021–2025 average Source: Based on World Bank data. Period: 2021–2025 average

Agriculture 39.7%
Industry 14.3%
Services 41.6%

Industries and programmes

Key industries: Cashew production, fishing, rice cultivation, and forestry. Cashew nuts are the country’s main export.
Government programmes: National Development Plan 2020–2023 and subsequent programs

“Terra Ranka” strategy

International trade

Exports of goods, 2021–2025

USD billion Source: World Bank / WTO, merchandise exports (TX.VAL.MRCH.CD.WT). Period: 2021–2025

Amount Index (2021 = 100)

Table

Exports of goods, 2021–2025: amount and index (2021 = 100)
Year	USD billion	index, 2021 = 100
2021	0.30	100.0
2022	0.24	80.0
2023	0.24	80.0
2024	0.23	76.7
2025	0.31	103.3

Imports of goods: USD 0.49 billion 2021–2025 averageSource: ITC. Period: 2021–2025 average
Exports of goods and services: USD 0.35 billion 2025Source: World Bank, national accounts. Period: 2025
Change in exports of goods, 2021–2025: +3.3%
Average annual rate of change in exports of goods, 2021–2025: +0.8%

Export specialisation

Main export products

share of exports of goods, %, 2024 Source: UN Comtrade, 2024; mirror data from importing countries (the country does not report data); shares calculated from imports reported by the largest trading partners. Period: 2024

fruit and nuts (including cashew nuts)95.8%
food industry residues and animal feed2.2%
oil seeds and oleaginous fruits0.7%
machinery and equipment0.4%
fish and seafood0.3%

Main export destinations

India92.0%
Türkiye2.8%
Republic of Korea0.6%
Finland0.6%
Netherlands0.6%

Investment areas

Cashew processing
Fish processing
Agribusiness
Tourism (Bijagós Archipelago)
Energy

Agreements with Russia

Investment protection

There is no bilateral agreement with Russia on the promotion and reciprocal protection of investments.

Absent
Double taxation

There is no double taxation agreement with Russia.

Absent
Visa requirements

Russian citizens holding ordinary passports require a visa.

Visa required
Peaceful nuclear energy

No information

Other agreements

Debt Settlement Agreement and Debt Relief Agreement (6 March 2024; entered into force on 14 June 2024).
Agreements on Cooperation in Higher Education and Science (2025).

Incentives

Main regimes and incentives: Investment Code (Law No. 4/2011): customs duty exemptions for equipment and tax incentives for priority projects.
Type of measure: Duty exemption
Investment agency: API-GB — Guinea-Bissau Investment Promotion Agency (Agência para a Promoção do Investimento)