Guinea: Financial openness
* indicates monthly or quarterly data series
| Guinea |
Financial openness index |
|---|---|
| Latest value | -1.931 |
| Year | 2021 |
| Measure | index points |
| Data availability | 1970 - 2021 |
| Average | -1.481 |
| Min - Max | -1.931 - -1.242 |
| Source | Chinn-Ito Index |
The latest value from 2021 is -1.931 index points, unchanged from -1.931 index points in 2020. In comparison, the world average is 0.322 index points, based on data from 176 countries. Historically, the average for Guinea from 1970 to 2021 is -1.481 index points. The minimum value, -1.931 index points, was reached in 2003 while the maximum of -1.242 index points was recorded in 1970.
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Definition: The Chinn-Ito index measures a country's degree of capital account openness and was introduced in Chinn and Ito (Journal of Development Economics, 2006). It is based on variables that codify the restrictions on cross-border financial transactions in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions. Higher values mean greater financial openness.
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
All articles
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 134.84 | 2021 | percent |
| Trade openness | 68.97 | 2023 | percent |
| Financial openness | -1.931 | 2021 | index points |
| Exports, percent of GDP | 39.17 | 2023 | percent |
| Exports, billion dollars | 9.25 | 2023 | billion U.S. dollars |
| Growth of exports | 50.41 | 2023 | percent |
| Imports, percent of GDP | 29.81 | 2023 | percent |
| Imports, billion dollars | 7.04 | 2023 | 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 | -8.60 | 2023 | 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 | 2.36 | 2023 | percent |
| Remittances | 557.81 | 2023 | 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 | 5.65 | 8/2023 | billion |