Trade Profile

Guinea-Bissau: Trade Profile

Foreign Trade in Figures

Foreign trade plays a strategic role in the economy of Guinea-Bissau, accounting for 44% of its GDP, according to the latest World Bank data (2020). The top exports of Guinea-Bissau are cashew nuts (around 80% of total exports), fish (17%), mineral oil and gold; whereas imports are led by rice (16% of total imports), refined petroleum (11%), beverages, food and machinery (ITC, 2020).

Guinea Bissau's major export partners are India, the Democratic Republic of Congo, South Korea, Portugal and Turkey. Imports mainly come from Portugal, Senegal, China, Pakistan and the Netherlands (OEC, 2020). The country introduced a Common External Tariff (CET) in early 2000, in collaboration with other countries of the West African Economic and Monetary Union (WAEMU). The government is seeking to strengthen its relations with several countries and organisations in order to promote foreign trade. Government reforms such as price liberalisation, as well as privatisation and structural adjustment programs are expected to impact international trade in the long term. However, a serious lack of infrastructure, political instability and high commodities costs are obstacles to trade development.

Guinea Bissau’s trade balance was in deficit the past years, mainly due to a drop in commodity prices and the global pandemic. According to WTO, in 2020 the country imported USD 285 million worth of goods, exporting only USD 198 million. In the same year, Guinea Bissau imported USD 148 million of services while its exports amounted to USD 26 million. Export of goods and services decreased by -15% compared to 2019, while imports decreased by -3% (World Bank).

Foreign Trade Indicators	2017	2018	2019	2020	2021
Imports of Goods (million USD)	291	284	335	285	355
Exports of Goods (million USD)	329	339	249	198	215
Imports of Services (million USD)	154	165	166	148	148
Exports of Services (million USD)	32	38	41	26	21
Imports of Goods and Services (Annual % Change)	19	-17	14	-3	n/a
Exports of Goods and Services (Annual % Change)	-18	20	9	-15	n/a
Trade Balance (million USD)	49	46	-86	-93	n/a
Foreign Trade (in % of GDP)	61	56	55	44	n/a
Imports of Goods and Services (in % of GDP)	33	31	35	29	n/a
Exports of Goods and Services (in % of GDP)	28	25	20	14	n/a

Source: WTO – World Trade Organisation ; World Bank - Latest available data.

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Commercial Policy

International Economic Cooperation: Member of World Trade Organisation
Member of Economic Community of West African States (ECOWAS)

Member of West African Economic and Monetary Union (UEMOA)

Member of Community of Sahel-Saharan States (CEN-SAD)
Assessment of Commercial Policy: Country’s commercial policy
Average Customs Duty (Excluding Agricultural Products): 14.06%

Trade Compliance

International Conventions: Member of World Trade Organisation
International Economic Cooperation: Member of Economic Community of West African States (ECOWAS)

Member of West African Economic and Monetary Union (UEMOA)

Member of Community of Sahel-Saharan States (CEN-SAD)
Useful Resources
National Organisation of Intellectual Property: You can contact the General Directorate of Industrial Property by Email.

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