According to allcitypopulation, Guinea is a West African country located on the Atlantic coast, bordered by Guinea-Bissau, Senegal, Mali, Ivory Coast and Sierra Leone. It has a total area of 245,857 square kilometers and a population of over 13 million people. According to Petwithsupplies, the capital city of Guinea is Conakry with a population of 1,767,000 (2018 estimate). Other major cities include Siguiri, Boké, Kindia, N’Zérékoré, Kankan.
The terrain in Guinea consists mostly of hilly and mountainous regions in the interior with a low coastal plain. The highest point is Mont Nimba at 1,752 meters above sea level and the lowest point is the Atlantic Ocean at 0 meters. There are several rivers including the Niger River which flows through the country from east to west before entering into the Atlantic Ocean.
The climate in Guinea is tropical with hot and humid weather all year round. The hottest months are usually March to May while the coolest months are December to February. Rainfall varies throughout different regions with some areas receiving up to 2000 mm of rain annually while other areas receive less than 500 mm per year.
Guinea has a largely rural population where about two-thirds of people live in rural areas and engage in subsistence farming as their main source of income. The economy of Guinea is largely based on agriculture which accounts for about one-third of GDP and employs around 70% of the workforce. Other important sectors include mining (mostly bauxite), fishing, forestry and manufacturing (mostly food processing).
The main exports from Guinea include bauxite, gold, diamonds, coffee beans and fish products while its main imports are machinery, chemicals, fuel products, foodstuffs and manufactured goods. The currency used in Guinea is called Guinean franc (GNF).
foreign trade of Guinea
Guinea’s foreign trade is mainly composed of exports and imports. The main export commodities are bauxite, gold, diamonds, coffee beans and fish products. These account for around 80% of the country’s total exports and are mainly sent to China, India, France and Belgium. The main import commodities are machinery, chemicals, fuel products, foodstuffs and manufactured goods which come mostly from China, France and Belgium.
The country’s trade balance has been in deficit since the late 1990s as imports have outpaced exports. This has been caused by a decline in the prices of Guinea’s main export commodities as well as an increase in imports due to increased economic activity and an increase in population.
In order to improve its foreign trade balance, Guinea has signed several free trade agreements with various countries including Cote d’Ivoire (Ivory Coast), Mali, Senegal and Nigeria to reduce tariffs on certain goods going into those countries as well as provide preferential access for Guinean exports going into those countries.
The government of Guinea is also trying to improve its foreign trade performance by diversifying its export base through the development of new industries such as agro-processing (e.g., palm oil processing), pharmaceuticals manufacturing and mineral processing (e.g., iron ore). Furthermore, it is also trying to attract more foreign direct investment by improving infrastructure such as roads, telecommunications networks and energy generation capacity which would make it easier for companies to do business in the country.
Major Trading Partners of Guinea
Guinea’s major trading partners are France, Belgium, China, India and Côte d’Ivoire (Ivory Coast). France is the largest importer of Guinean goods accounting for 28.8% of total imports in 2017. The main imports from France include machinery and manufactured goods such as vehicles, aircraft parts, pharmaceuticals and medical equipment.
Belgium is the second-largest importer of Guinean goods accounting for 17.3% of total imports in 2017. The main imports from Belgium are mainly machinery, foodstuffs and manufactured goods such as vehicles, aircraft parts and pharmaceuticals.
China is the third-largest importer of Guinean goods accounting for 14.7% of total imports in 2017. The main imports from China are mainly chemicals, fuel products and foodstuffs such as rice and sugar.
India is the fourth-largest importer of Guinean goods accounting for 9.7% of total imports in 2017. The main imports from India are mainly machinery and manufactured goods such as vehicles, aircraft parts and pharmaceuticals.
Côte d’Ivoire (Ivory Coast) is the fifth-largest importer of Guinean goods accounting for 5% of total imports in 2017. The main imports from Côte d’Ivoire include machinery and manufactured goods such as vehicles, aircraft parts and pharmaceuticals as well as fuel products such as diesel fuel oil and gasoline.
Guinea’s exports are mainly sent to China (46%), India (29%), France (10%) Belgium (5%) Ivory Coast (4%) with other countries making up the remaining 6%. Its exports consist mainly of bauxite, gold, diamonds coffee beans and fish products which account for around 80% of its total exports value in 2017.
Major Imports and Exports of Guinea
Guinea’s major imports include machinery and manufactured goods such as vehicles, aircraft parts and pharmaceuticals, fuel products such as diesel fuel oil and gasoline, chemicals, foodstuffs such as rice and sugar, and other miscellaneous items. The main importers of Guinean goods are France (28.8%), Belgium (17.3%), China (14.7%), India (9.7%) and Côte d’Ivoire (Ivory Coast) (5%).
Guinea’s major exports include bauxite, gold, diamonds coffee beans and fish products which account for around 80% of its total exports value in 2017. The main export destinations for Guinean products are China (46%), India (29%), France (10%), Belgium (5%) Ivory Coast (4%) with other countries making up the remaining 6%.
In order to encourage greater foreign direct investment in the country Guinea is also trying to improve its infrastructure such as roads, telecommunications networks and energy generation capacity which would make it easier for companies to do business in the country.