Guinea-Bissau: Remittances

* indicates monthly or quarterly data series
 Guinea-Bissau

Remittances, million USD

 Latest value 184.39
 Year 2023
 Measure million U.S. dollars
 Data availability 1988 - 2023
 Average 52.66
 Min - Max 1.00 - 206.11
 Source The World Bank
The latest value from 2023 is 184.39 million U.S. dollars, a decline from 206.11 million U.S. dollars in 2022. In comparison, the world average is 4590.03 million U.S. dollars, based on data from 184 countries. Historically, the average for Guinea-Bissau from 1988 to 2023 is 52.66 million U.S. dollars. The minimum value, 1 million U.S. dollars, was reached in 1990 while the maximum of 206.11 million U.S. dollars was recorded in 2021. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Guinea-Bissau - Remittances - Recent values chart

Historical series
Guinea-Bissau - Remittances - historical chart - 1988-2023




Remittances are the money sent home by people who work in a foreign country. These are, for example, the money sent to Mexico by Mexican workers in the U.S.
Definition: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

Selected articles from our guide:

What factors determine the exchange rates

International lending and sovereign debt

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 Related indicators Latest Reference Measure
 Terms of trade 103.90 2021 percent
 Trade openness 46.18 2023 percent
 Financial openness -1.242 2021 index points
 Exports, percent of GDP 17.92 2023 percent
 Exports, billion dollars 0.35 2023 billion U.S. dollars
 Growth of exports -3.10 2023 percent
 Imports, percent of GDP 28.26 2023 percent
 Imports, billion dollars 0.56 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 1.21 2023 percent
 Foreign Direct Investment, billion dollars 0.02 2022 billion U.S. dollars
 Portfolio investment inflows, equities -0.23 2019 million dollars (current)
 Current account, percent of GDP -8.60 2023 percent
 Current account, in dollars -0.15 2022 billion U.S. dollars
 Trade balance, percent of GDP -10.34 2023 percent
 Trade balance, in dollars -0.30 2022 billion U.S. dollars
 Remittances, percent of GDP 9.38 2023 percent
 Remittances 184.39 2023 million U.S. dollars
 Net errors and omissions -12.58 2022 million USD
 External debt 61.68 2022 percent
 Short-term external debt 0.14 2022 percent
 Foreign exchange reserves 54.50 11/2022 billion
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