APPENDIX A
COUNTRY DATA
1. PROFILE:
POPULATION (MILLIONS): 7.3
POPULATION GROWTH (%): 2.8
RELIGION: PREDOMINANTLY MUSLIM
GOVERNMENT SYSTEM: DEMOCRACY
LANGUAGES: OFFICIAL LANGUAGE: FRENCH SOSSOU,
FULA, MALINKE, OTHER LOCAL LANGUAGES
WORK WEEK: MONDAY - FRIDAY (1PM)
2. DOMESTIC ECONOMY:
1991 1992 1993
GDP (CURRENT DOLLARS) 2,312 2,760 3,206
GDP PER CAPITA 330 388 439
GDP GROWTH (PERCENT) 2.4 3.0 4.0
INFLATION (END OF PD) 27.1 16.1 4.9
GOVERNMENT FINANCES
NATIONAL BUDGET 720 756 740
GROSS RESERVES 139 155 162
OFFICIAL RESERVES 3.6 3.5 3.3
MONEY SUPPLY GROWTH
(PERCENT) 34.8 23.7 23.4
GROSS DOM. INVEST.
(PERCENT OF GDP) 15.2 17.6 16.1
BALANCE OF PAYMENTS
1991 1992 1993
--------------------------
EXPORTS, FOB 755 622 590
IMPORTS, CIF 742 769 837
TRADE BALANCE 13 -142 -247
CURRENT ACCOUNT BALANCE -202 -303 -338
OVERALL BALANCE -68 -83
FOREIGN DEBT (YEAR END) 2,401 2,538 2,153
DEBT SERVICE 67 54 76
DEBT SERVICE RATIO 32 30 12
AVG. EXCHANGE 754 902 972
(GF=USD1)
(NOTE: CURRENT ACCOUNT BALANCE INCLUDES
TRANSFERS)
(1994, 1995 NOT AVAILABLE)
3. TRADE
(A) OVERALL TRADE
1991 1992 1993
-----------------------
TOTAL EXPORTS, FOB 755 622 590
TOTAL IMPORTS, CIF 742 769 837
U.S. EXPORTS (FAS) 88 60 59
U.S. IMPORTS (CIF) 138 101 118
U.S. TRADE BALANCE -50 -41 -59
U.S. SHARE OF GUINEAN
EXPORTS (PERCENT) 18 16 20
U.S. SHARE OF GUINEAN
IMPORTS (PERCENT) 12 7.8 7.0
U.S. BILATERAL AID 40.3 35.1 37.1
(SOURCE: U.S. DEPARTMENT OF COMMERCE)
(B) IMPORTS OF MANUFACTURED GOODS:
(INCLUDES EQUIPMENT, INTERMEDIATE, AND MANUFACTURED CONSUMABLE
GOODS CATEGORIES)
TOTAL: 507.3 MILLION USD
FROM THE U.S.: 24.4 MILLION USD
U.S. SHARE OF MANUFACTURED IMPORTS: 4.8 PERCENT
GUINEA'S MANUFACTURED GOODS TRADE BALANCE WITH THE U.S.: -24.3
PROJECTED AVERAGE ANNUAL GROWTH RATE FROM WORLD: MINISTRY OF
PLAN AND FINANCE STATISTICS PROJECT GROWTH OF MANUFACTURED
GOODS IMPORTS (PER CATEGORIES ABOVE) TO 513.7 MILLION USD IN
1994; 561.8 MILLION USD IN 1995; AND 591.3 MILLION USD IN
1996, GROWTH RATES OF 1.3 PERCENT IN 1994, 9.4 PERCENT IN
1995, AND 5.3 PERCENT GROWTH IN 1996.
PROJECTED AVERAGE ANNUAL GROWTH RATE FROM THE U.S.:
NOT AVAILABLE.
(C) IMPORTS OF AGRICULTURAL GOODS:
TOTAL: 166.6 MILLION USD
TOTAL FROM THE U.S.: 27.4 MILLION USD
U.S. SHARE OF AGRICULTURAL IMPORTS: 16.4 PERCENT
GUINEA'S AGRICULTURAL GOODS TRADE BALANCE WITH THE U.S.:
26.8 MILLION USD
PROJECTED AVERAGE ANNUAL GROWTH RATE FROM WORLD: MINISTRY OF
PLAN AND FINANCE STATISTICS PROJECT A DECLINE IN AGRICULTURAL
GOODS IMPORTS TO 165.1 MILLION USD IN 1994; 163.6 MILLION USD
IN 1995; AND 162.1 MILLION USD IN 1996, OR ONE PERCENT
ANNUALLY UNTIL 1996.
PROJECTED AVERAGE ANNUAL GROWTH RATE FROM THE U.S.: NOT
AVAILABLE.
(D) PRINCIPAL U.S. EXPORTS TO GUINEA:
(VALUE IN THOUSANDS OF USD, FOB)
1. CIGARETTES: 12,000
2. RICE: 10,600 *
3. BITUMINOUS MIXTURE, ASPHALT BASED: 1,500
4. CONDIMENTS AND SAUCES: 1,400
5. CONVEYOR BELTS: 1,300
* INCLUDES USAID PL480 RICE PROCUREMENT
(E) OTHER U.S. EXPORTS TO GUINEA:
(VALUE IN THOUSANDS OF USD, FOB)
SERVICE VEHICLES 1,100
USED CLOTHING 836
DIESEL-ELECTRIC LOCOMOTIVES 834
MOTOR VEHICLES FOR PASSENGERS 775
ACRYLIC POLYMERS 404
FLOUR 363
PLYWOOD 344
IRON AND STEEL PIPES 278
PAINTS 269
CHEMICAL PRODUCTS 256
(F) PRINCIPAL U.S. IMPORTS FROM GUINEA:
(VALUE IN THOUSANDS OF USD, C.I.F.)
1. ALUMINUM ORES AND CONCENTRATES: 130,314
2. ALUMINA: 5,229
3. CRUDE OIL OR OIL FROM BITUMINOUS METALS: 4,837
4. DIAMONDS: 4,332
5. GOLD: 1,503
(G) OTHER U.S. IMPORTS FROM GUINEA INCLUDE:
UREINES AND THEIR DERIVATIVE SALTS: 156
ANTIQUES EXCEEDING 100 YEARS IN AGE: 125
COFFEE, NOT ROASTED, NOT DECAFFEINATED: 122
COFFEE, NOT ROASTED, DECAFFEINATED: 57
BLACK TEA: 77
LIVE ANIMALS: 57
(H) GUINEA'S LEADING TRADE PARTNERS IN 1993:
GUINEA'S PRIMARY IMPORT SUPPLIERS ARE FRANCE, SPAIN, CHINA,
BELGIUM, AND THE IVORY COAST.
GUINEA'S PRINCIPAL EXPORT MARKETS ARE FRANCE, THE U.S.,
CANADA, THE FORMER SOVIET UNION, ITALY, BRAZIL, NORWAY, AND
CAMEROON.
4. FOREIGN DIRECT INVESTMENT STATISTICS:
THERE IS NO DATA AVAILABLE ON FOREIGN DIRECT INVESTMENT, BUT
INVESTMENT TRENDS ARE INDICATIVE.
IN 1977-78, THE FIRST REPUBLIC BEGAN A PROCESS OF RE-OPENING
TO THE WESTERN WORLD, AFTER THE DRAMATIC FAILURE OF SOCIALIST
POLICIES. THE REAL LIBERALIZATION, HOWEVER, DID NOT OCCUR
UNTIL THE OUTSET OF THE SECOND REPUBLIC, WITH THE DECLARATION
OF NEW POLICIES DESIGNED TO PROMOTE A MARKET ECONOMY, IN 1984-
85. THUS, GIVEN GUINEA'S ENORMOUS POTENTIAL, AND LARGELY
UNTAPPED RESOURCES, 1986 THROUGH 1988 WITNESSED AN INITIAL
INVESTMENT BOOM.
ACCORDING TO A GUINEAN PLANNER, IT WAS THE PUBLIC SECTOR THAT
BRAKED THIS INVESTMENT, AS ADMINISTRATIVE DIFFICULTY AND
CORRUPTION BEGAN TO TAKE THEIR TOLL. 1989 MARKED THE
BEGINNING OF THE STAGNATION OF THE FOREIGN BUSINESS SECTOR,
AND A PERIOD OF DISINVESTMENT FOLLOWED. SINCE 1991,
INVESTMENT HAS BEEN MODERATE; ACCORDING TO GOG OFFICIALS, MANY
INVESTORS ARE AWAITING THE COMPLETION OF POLITICAL AND
ECONOMIC REFORMS.
CURRENTLY, THE MOST VISIBLE AND NUMEROUS FOREIGN BUSINESS
PRESENCE IS THAT OF THE INFORMAL SECTOR LEBANESE TRADERS. IN
ADDITION TO TRADE, THIS GROUP IS EXTENSIVELY INVOLVED IN REAL
ESTATE, SMALL MANUFACTURING ENTERPRISES, AND
TELECOMMUNICATIONS.