Guinea-Bissau: Trade balance, percent of GDP
* indicates monthly or quarterly data series
| Guinea-Bissau |
Trade balance as percent of GDP |
|---|---|
| Latest value | -10.34 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1970 - 2023 |
| Average | -23.56 |
| Min - Max | -59.68 - -2.96 |
| Source | The World Bank |
The latest value from 2023 is -10.34 percent, a decline from -9.32 percent in 2022. In comparison, the world average is -3.03 percent, based on data from 137 countries. Historically, the average for Guinea-Bissau from 1970 to 2023 is -23.56 percent. The minimum value, -59.68 percent, was reached in 1997 while the maximum of -2.96 percent was recorded in 2019.
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* indicates monthly or quarterly data series
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The trade balance for Guinea-Bissau and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
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 |