Compare Guinea-Bissau (2008) - Guinea-Bissau (2007)

Compare Guinea-Bissau (2008) z Guinea-Bissau (2007)

Show all fields

	Guinea-Bissau (2008)	Guinea-Bissau (2007)

Economy - overview	One of the five poorest countries in the world, Guinea-Bissau depends mainly on farming and fishing. Cashew crops have increased remarkably in recent years, and the country now ranks sixth in cashew production. Guinea-Bissau exports fish and seafood along with small amounts of peanuts, palm kernels, and timber. Rice is the major crop and staple food. However, intermittent fighting between Senegalese-backed government troops and a military junta destroyed much of the country's infrastructure and caused widespread damage to the economy in 1998; the civil war led to a 28% drop in GDP that year, with partial recovery in 1999-2002. Before the war, trade reform and price liberalization were the most successful part of the country's structural adjustment program under IMF sponsorship. The tightening of monetary policy and the development of the private sector had also begun to reinvigorate the economy. Because of high costs, the development of petroleum, phosphate, and other mineral resources is not a near-term prospect. Offshore oil prospecting is underway in several sectors but has not yet led to commercially viable crude deposits. The inequality of income distribution is one of the most extreme in the world. The government and international donors continue to work out plans to forward economic development from a lamentably low base. In December 2003, the World Bank, IMF, and UNDP were forced to step in to provide emergency budgetary support in the amount of $107 million for 2004, representing over 80% of the total national budget. Government drift and indecision, however, resulted in continued low growth in 2002-06. Higher raw material prices boosted growth to 3.7% in 2007.	One of the 10 poorest countries in the world, Guinea-Bissau depends mainly on farming and fishing. Cashew crops have increased remarkably in recent years, and the country now ranks sixth in cashew production. Guinea-Bissau exports fish and seafood along with small amounts of peanuts, palm kernels, and timber. Rice is the major crop and staple food. However, intermittent fighting between Senegalese-backed government troops and a military junta destroyed much of the country's infrastructure and caused widespread damage to the economy in 1998; the civil war led to a 28% drop in GDP that year, with partial recovery in 1999-2002. Before the war, trade reform and price liberalization were the most successful part of the country's structural adjustment program under IMF sponsorship. The tightening of monetary policy and the development of the private sector had also begun to reinvigorate the economy. Because of high costs, the development of petroleum, phosphate, and other mineral resources is not a near-term prospect. However, offshore oil prospecting has begun and could lead to much-needed revenue in the long run. The inequality of income distribution is one of the most extreme in the world. The government and international donors continue to work out plans to forward economic development from a lamentably low base. In December 2003, the World Bank, IMF, and UNDP were forced to step in to provide emergency budgetary support in the amount of $107 million for 2004, representing over 80% of the total national budget. Government drift and indecision, however, resulted in continued low growth in 2002-06.
Exchange rates	Communaute Financiere Africaine francs (XOF) per US dollar - 493.51 (2007), 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003) note: since 1 January 1999, the XOF franc has been pegged to the euro at a rate of 655.957 XOF francs per euro	Communaute Financiere Africaine francs (XOF) per US dollar - 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003), 696.99 (2002) note: since 1 January 1999, the XOF franc has been pegged to the euro at a rate of 655.957 XOF francs per euro
Executive branch	chief of state: President Joao Bernardo 'Nino' VIEIRA (since 1 October 2005) head of government: Prime Minister Martinho N'Dafa CABI (since 9 April 2007) cabinet: NA elections: president elected by popular vote for a five-year term (no term limits); election last held 24 July 2005 (next to be held in 2010); prime minister appointed by the president after consultation with party leaders in the legislature election results: Joao Bernardo VIEIRA elected president; percent of vote, second ballot - Joao Bernardo VIEIRA 52.4%, Malam Bacai SANHA 47.6%	chief of state: President Joao Bernardo 'Nino' VIEIRA (since 1 October 2005) head of government: Prime Minister Martinho N'Dafa CABI (since 9 April 2007) cabinet: NA elections: president elected by popular vote for a five-year term (no term limits); election last held 24 July 2005 (next to be held in 2010); prime minister appointed by the president election results: Joao Bernardo VIEIRA elected president; percent of vote, second ballot - Joao Bernardo VIEIRA 52.4%, Malam Bacai SANHA 47.6%
Exports	0 bbl/day (2004)	NA bbl/day
GDP - real growth rate	3.7% (2007 est.)	2.1% (2006 est.)
Imports	2,463 bbl/day (2004)	NA bbl/day
Imports - partners	Portugal 18.7%, Senegal 16.3%, Italy 13%, Pakistan 4.5% (2006)	Portugal 18.8%, Senegal 16.3%, Italy 13%, Pakistan 4.5% (2006)
International organization participation	ACCT, ACP, AfDB, AU, CPLP, ECOWAS, FAO, FZ, G-77, IBRD, ICAO, ICCt (signatory), ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, ITSO, ITU, ITUC, MIGA, NAM, OIC, OIF, OPCW (signatory), UN, UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WADB (regional), WAEMU, WFTU, WHO, WIPO, WMO, WTO	ACCT, ACP, AfDB, AU, CPLP, ECOWAS, FAO, FZ, G-77, IBRD, ICAO, ICCt (signatory), ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, ISO (correspondent), ITSO, ITU, ITUC, MIGA, NAM, OIC, OIF, OPCW (signatory), UN, UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WADB (regional), WAEMU, WFTU, WHO, WIPO, WMO, WTO

Sitemap: Compare countries listing (map site) | Country listing (map site)
Links: Add to favorites | Information about this website | Stats | Polityka prywatnosci
This page was generated in ##czas## s. Size this page: ##rozmiar_strony## kB.