Guinea-Bissau Import Data

Guinea-Bissau's Import/Export Overview and Domestic Market Analysis

Imports & Exports

• Top Trade Partners: Guinea-Bissau's major trade partners include Portugal, Spain, and China, reflecting its historical ties and growing economic relationships.

• Top 5 Imports: 1. Agricultural products (20%); 2. Machinery and vehicles (18%); 3. Chemical products (10%); 4. Mineral fuels (8%); 5. Foodstuffs (6%).

• Top 5 Exports: 1. Cashew nuts (45%); 2. Seafood (15%); 3. Wood and timber (10%); 4. Live animals (8%); 5. Fish (6%).

• Trade Balance: Guinea-Bissau has a significant trade deficit, importing much more than it exports. Efforts are being made to increase export volumes and diversify the economy.

• Trade Policy: The country is part of the Economic Community of West African States (ECOWAS) and benefits from regional trade agreements. It seeks to attract foreign investment and improve its export potential.

Domestic Market

• Consumer Spending: Consumer spending is limited by low income levels and high unemployment. The economy is heavily reliant on subsistence agriculture.

• Inflation and Interest Rates: Inflation has been a concern, impacting purchasing power. Interest rates are managed by the Central Bank of West African States (BCEAO) to stabilize the economy.

• Supply Chain Dynamics: Supply chain disruptions are common due to inadequate infrastructure, affecting both imports and exports.

• Industry Performance: The cashew industry is dominant, but other sectors such as tourism and fisheries show potential for growth. Industrial development is constrained by lack of investment.

Overall Outlook

Guinea-Bissau faces challenges in its trade balance and domestic market, but opportunities exist for expanding its export base and improving economic conditions through strategic investment and policy reforms.