|Coconuts and cashews|
|Non-fillet Frozen Fish|
|Other Oily Seeds|
|Soups and Broths|
Guinea-Bissau, officially the Republic of Guinea-Bissau (Portuguese: República da Guiné-Bissau, is a country in West Africa. It covers 36,125 square kilometers (13,948 sq. mi) with an estimated population of 1,704,000.Only 14% of the population speaks Portuguese, established as the official language in the colonial period. Almost half the population (44%) speaks Crioulo, a Portuguese-based creole language, and the remainder speak a variety of native African languages. The main religions are African traditional religions and Islam; there is a Christian (mostly Roman Catholic) minority. The country's per-capita gross domestic product is one of the lowest in the world.Guinea-Bissau is a member of the United Nations, African Union, Economic Community of West African States, Organization of Islamic Cooperation, the Latin Union, Community of Portuguese Language Countries, La Francophonie and the South Atlantic Peace and Cooperation Zone.
The financial sector of Guinea-Bissau is relatively underdeveloped: in 2013, financial intermediation accounted for 4% of GDP, banking penetration is below 1% of the population (IMF 2013. Article IV Consultations – Guinea-Bissau, IMF Country Report No 13/197) and access to finance is cited as the second most important constraint for businesses. As of 2015, only four banks were operating in the country. According to the IMF, regional private foreign banks held about 65% of shares in the Bissau-Guinean banking system (IMF 2013). Banks are regulated by the WAEMU authorities. In the aftermath of the civil war (1998/1999), private sector credit had fallen below 1% of GDP. In 2003 the balance sheets of banks amounted to EUR 21.3 million. Since then credit to the economy has risen to nearly 13.8% of GDP
There is a small microfinance sector with 18 licensed institutions. However, only five are operational, and they provide limited financial services, with most of the activity concentrated in Bissau, the capital. Private insurance companies and a semiautonomous public pension fund, the National Institute of Social Security, account for most of the rest of the formal financial system. Informal financial structures exist and cater to poorer sectors, especially people in rural areas and some small entrepreneurs. Data regarding their activities is however not available. Guinea-Bissau has access to the regional securities exchange, the Bourse Régionale des Valeurs Mobilières (BVRM), established in 1998 and based in Abidjan. However, none of its 39 listed companies listed in 2015 are from Guinea-Bissau.
|Agriculture||Fish, cashew nuts, ground nuts, peanuts|
|Manufacture||Food processing, beer, soft drinks|
|Services (Including financial)||31% (2012 estimate)|
|Central Bank of West African States||Financial|
|Correios da Guine-Bissau||Industrial|
|Electricidade e Aguas da Guine-Bissau||Electricity|
|Banco da Africa Ocidental||Financial|
|Banco da Uniao||Financial|
|Banque Regionale de Solidarite||Financial|
|Coconuts and cashews|
|Non-fillet Frozen Fish|
|Other Oily Seeds|
|Soups and Broths|
The Bourse Régionale des Valeurs Mobilières SA ("Regional Securities Exchange SA") or BRVM, is a regional stock exchange serving the following West African countries: Benin, Burkina Faso, Guinea Bissau, Côte d'Ivoire, Mali, Niger, Senegal, Togo. The exchange is located in Abidjan, Cote d'Ivoire. Market offices are maintained in each country. BRVM is a private corporation with 2,904,300,000 CFA francs in capital.
The mission of the BRVM is to:
Time line Market integration by the BRVM is a political, institutional and technical success. The Bourse Régionale and Dépositaire Central/Banque de Règlement (DC/BR) were established in several phases:
The growth impact of the crisis has also varied across countries. While many countries have experienced sharp deteriorations in growth prospects, others have continued to record improvements. In fact, only 6 out of 51 African countries experienced a contraction in 2009 relative to 2008. This is a commendable performance when compared to OECD countries where GDP of all but two countries (Australia and South Korea) contracted.
As a result of the crisis, Africa has lost about 30 – 50 percent of its 2008 export revenues in 2009. Despite some relief on import bills due to falling food and oil prices, the overall trade balance deteriorated markedly.
Overall, the continent has moved from a current account surplus of 3.4 percent of GDP in 2008 to a deficit of 4.2 percent in 2009. Again, there were substantial disparities across countries and country groups. Oil exporters recorded a deficit of 1.4 percent of GDP in 2009, which is a major deterioration from a surplus of 11 percent in 2008. In a similar vein, exports of several oil importers have also collapsed due to the contraction of demand in advanced economies.
The decline in export revenues, reduced remittances and, in a few instances, aid, put pressures on exchange rates, with currencies of many African countries depreciating relative to the dollar. The message here is clear: unless sufficient FDI and aid are available to cover the external deficits stemming from the crisis, Africa’s foreign reserves, which took years to accumulate, may deteriorate rapidly.
Similarly, the continent’s fiscal balance is also projected to worsen, as a surplus of 3.3 percent of GDP in 2008 turns into a deficit of 4.2 percent of GDP in 2009. Fiscal space has been particularly affected through two channels: (i) directly through revenue losses, and (ii) indirectly through automatic stabilizers associated with slower economic activity. Commodity-related revenues have been affected the most, with the fiscal balance in oil exporting countries turning into a deficit of 5.4 percent of GDP in 2009, from a surplus of 6.6 percent in 2008. Oil-importing countries also experienced an increase of the fiscal deficit from 1.3 percent of GDP in 2008 to about 2.7 percent in 2009.
Guinea-Bissau was once part of the kingdom of Gabu, as well as part of the Mali Empire. Parts of this kingdom persisted until the 18th century, while a few others were under some rule by the Portuguese Empire since the 16th century. In the 19th century, it was colonized as Portuguese Guinea. Upon independence, declared in 1973 and recognized in 1974, the name of its capital, Bissau, was added to the country's name to prevent confusion with Guinea (formerly French Guinea). Guinea-Bissau has a history of political instability since independence, and no elected president has successfully served a full five-year term.
Jose Mario Vaz
Umaro Sissoco Embalo
(Minister of Economy and Finance)
(Minister of Defense)
The West African CFA franc (French: franc CFA;Portuguese: franco CFA or simply franc, ISO 4217 code: XOF) is the currency of eight independent states in West Africa: Benin, Burkina Faso, Guinea-Bissau, Ivory coast, Mali, Niger, Senegal and Togo. These eight countries have a combined population of 105.7 million people (as of 2014), and a combined GDP of US$78.4 billion (as of 2012).
The acronym CFA stands for Communauté Financière d'Afrique ("Financial Community of Africa") or Communauté Financière ("African Financial Community"). The currency is issued by the BCEAO (Banque Centrale des États de l'Afrique de l'Ouest, "Central Bank of the West African States"), located in Dakar, Senegal, for the members of the UEMOA (Union Économique et Monétaire Ouest Africaine, "West African Economic and Monetary Union"). The franc is nominally subdivided into 100 centimes but no centime denominations have been issued.
The Central African CFA franc is of equal value to the West African CFA franc, and is in circulation in several central African states. They are both the CFA franc.
|National Song||"Esta É a Nossa Pátria Bem Amada"|
|Currency||West African CFA franc (XOF)|
|Languages||Portuguese, Upper Guinea Creole|
|GDP / GDP Rank||2.878 Billion USD|
|GDP Growth Rate||4.8 Percent|
|GDP Per Captial||$1729.897 (PPP)|
< 1.0% Hindus
< 1.0% Buddhists
< 1.0% Jews
< 1.0% Other Religions
African 99% (Includes Balanta 30%
President – José Mário Vaz
Prime Minister – Aristides Gomes
|Website||Go to the web|
|Public Debt||46.314 Percent|
|Unemployment Rate||6.529 Percent|
|Labor Force (Occupation)||-|