The Republic of Guinea has completed a major rebasing of its Gross Domestic Product (GDP), conducted by the National Institute of Statistics (INS) under the supervision of the Ministry of Planning and International Cooperation. This revision, carried out with the support of the IMF, the World Bank, the African Development Bank, and AFRISTAT, shows a 51.2% increase in GDP, providing a more accurate and comprehensive picture of the country’s economic structure.
The rebasing, which updates the national accounts reference year from 2006 to 2018, marks a significant milestone for Guinea’s economic statistics. The number of sectors covered has increased from 34 to 104 activity branches, and from 54 to 187 economic products. The process also integrates new data sources – including agriculture, employment, the informal sector, remittances, research, and the digital economy – to better capture the dynamism of Guinea’s economy.
The results highlight the robustness and growing diversification of the national economy:
- 2018 GDP: GNF 161,539.2 billion (compared to GNF 106,845.3 billion previously)
- 2024 GDP: GNF 311,898 billion, or approximately USD 36.3 billion
- Average growth: 6.1% between 2021 and 2024
- Debt ratio: 29.07%, a significant improvement from the previous 45%
- GDP per capita: USD 2,068, up from USD 1,345 before rebasing
“The GDP rebasing is not merely a statistical exercise. It provides Guinea with a reliable economic compass and a solid foundation for planning its future. It is a tool of credibility and transparency, in service of our economic sovereignty,” declared H.E. Ismaël Nabe, Minister of Planning and International Cooperation.
This reform is part of a broader dynamic of modernizing economic governance. In September 2025, Standard & Poor’s assigned the Republic of Guinea its first-ever sovereign credit rating (B+ with a stable outlook), recognizing the country’s macroeconomic strength, fiscal discipline, and ongoing structural reforms. This international recognition further strengthens investor confidence and supports the implementation of the Simandou 2040 Program, the national roadmap to transform natural resources into shared and sustainable prosperity.
The GDP rebasing aligns Guinea with international standards of economic transparency and demonstrates its ability to master the fundamentals of development. This major milestone reflects the vision of the President of the Republic, H.E. General Mamadi Doumbouya, to build a modern, sovereign, and resilient Guinea, underpinned by strong institutions and reliable data.