Current Account Balance (As % of GDP) rose to -16.4% in Guinea in 2019

Current Account Balance (As % of GDP) (%)
Economy | Guinea | January 1, 2020
$2.99
Excel Sheet

Current account balance as a share of GDP reached -16.4 % in 2019 in Guinea, according to the National Statistical Office. This is 22.4 % less than in the previous year.

Historically, current account balance as a share of GDP in Guinea reached an all time high of 3.13 % in 1980 and an all time low of -21.2 % in 2018. When compared to Guinea's main peers, current account balance as a share of GDP in Liberia amounted to -21.4 %, -7.81 % in Mali, -7.11 % in Senegal and -14.1 % in Sierra Leone in 2019.

Guinea has been ranked 166th within the group of 172 countries we follow in terms of current account balance as a share of GDP, 54 places behind the position seen 10 years ago.

The current account is one of the two primary components of the balance of payments, the other being the capital account.

Current Account Balance (As % of GDP) Unit 2015 2016 2017 2018 2019 2020 2021 2022 2023
Algeria % -0.132% -8.98% -7.93% -6.28% -5.18%
Burkina Faso % -0.073% -8.57% -7.56% -6.72% -6.51%
Gambia % -0.074% -12.5% -13.6% -14.0% -13.9%
Ghana % -0.034% -4.06% -4.00% -3.86% -3.78%
Guinea % 0.050% -21.2% -16.4% -17.4% -13.5%
Ivory Coast % -0.028% -4.58% -4.20% -3.88% -3.56%
Liberia % -0.172% -18.3% -21.4% -22.1% -23.0%
Mali % -0.079% -7.23% -7.81% -7.70% -7.61%
Mauritania % -0.141% -16.0% -17.3% -9.67% -8.46%
Niger % -0.157% -16.2% -18.3% -20.2% -16.6%
Senegal % -0.072% -7.66% -7.11% -6.73% -6.57%
Sierra Leone % -0.142% -13.4% -14.1% -12.0% -11.6%