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Almost 84% of the Guinea labor force was engaged in agriculture, contributing 23.7% of the Gross-Domestic Product (GDP) in 2000. Nearly 2% were employed in the industrial sector contributing 36.6% of the GDP. Additionally, the services sector contributed an estimated 39.7% of the GDP.
According to The Europa World Year Book Guinea is the world’s foremost exporter of bauxite. It is the second largest producer of bauxite ore in the world, holding anywhere from one-quarter to one-third of the known reserves. In 1998, almost 60% of the export earnings came from bauxite and alumina. Gold and diamonds are also mined in Guinea ,
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contributing an estimated 16.3%.
Currently, the electricity generated in Guinea is not enough to meet demand, but the country possesses the potential to produce hydroelectric power. Meanwhile, 600,00 metric tons of hydrocarbons are imported annually, and in 2000, imports of fuel and energy valued 17.8% of the total imports.
AGRICULTURE: Hunting, Forestry, and Fishing
INDUSTRY: Mining, Manufacturing, Construction, and Power
GROSS-DOMESTIC PRODUCT : $18.69 billion (2002 est.)
TRADING PARTNERS: France 18.7%, Cote d'Ivoire 11%, Italy 8.9%, US 8.2%, Belgium 7.6%, China 5.6%, UK 5.2% (in 2002)
MAJOR EXPORTS: Bauxite, Iron Ore, Diamond, Gold
OFFICIAL CURRENCY: Guinea Franc
Source:
Arulpragasam, Jehan.; and Sahn, David E.