Guinea: Imports, percent of GDP

* indicates monthly or quarterly data series

Imports of goods and services as percent of GDP

 Latest value 63.81
 Year 2022
 Measure percent
 Data availability 1986 - 2022
 Average 39.91
 Min - Max 22.85 - 82.47
 Source The World Bank
For that indicator, we provide data for Guinea from 1986 to 2022. The average value for Guinea during that period was 39.91 percent with a minimum of 22.85 percent in 1997 and a maximum of 82.47 percent in 2016. The latest value from 2022 is 63.81 percent. For comparison, the world average in 2022 based on 149 countries is 52.38 percent. 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 values chart
Guinea - Imports, percent of GDP - Recent values chart

Historical chart
Guinea - Imports, percent of GDP - historical chart - 1986-2022

The imports of Guinea and other countries are calculated as the total amount of goods and services produced abroad and sold at home. Imports are often reported as percent of GDP so that we can evaluate their magnitude relative to the size of the economy.

If imports are about 15 percent or less of GDP the economy is considered relatively closed. That, for example, applies to the U.S. In contrast, many small European countries import over 40 percent of the products they consume. They are considered more open to international trade.
Definition: Imports of goods and services represent the value of all goods and other market services received from the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.

 Related indicators Latest value Reference Measure
 Terms of trade 134.84 2021 percent
 Trade openness 107.48 2022 percent
 Financial openness -1.931 2021 index points
 Exports, percent of GDP 43.67 2022 percent
 Exports, billion dollars 9.17 2022 billion U.S. dollars
 Growth of exports -2.66 2022 percent
 Imports, percent of GDP 63.81 2022 percent
 Imports, billion dollars 13.40 2022 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 3.13 2022 percent
 Foreign Direct Investment, billion dollars 0.66 2022 billion U.S. dollars
 Portfolio investment inflows, equities 1.58 2022 million dollars (current)
 Current account, percent of GDP -7.40 2022 percent
 Current account, in dollars 3.35 2022 billion U.S. dollars
 Trade balance, percent of GDP -20.14 2022 percent
 Trade balance, in dollars 3.15 2022 billion U.S. dollars
 Reserves 1.50 2020 billion U.S. dollars
 Remittances, percent of GDP 2.51 2022 percent
 Remittances 527.28 2022 million U.S. dollars
 Net errors and omissions 0.06 2022 million USD
 External debt 26.07 2022 percent
 Short-term external debt 5.15 2022 percent
 Short-term debt to reserves 10.00 2020 percent
 Foreign exchange reserves 5.94 9/2022 billion
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