Economic Policy & Debt · Guinea
Yearly data from 1986 to 2024, from the World Bank.
Guinea's current account balance (current US$, BoP) was −US$391.82 million in 2024, the latest year in the World Bank's World Development Indicators. That is up 60.09% from −US$981.68 million in 2014.
| Value | Year | |
|---|---|---|
| Latest | −US$391.82 million | 2024 |
| Five years earlier | −US$314.62 million | 2019 |
| Ten years earlier | −US$981.68 million | 2014 |
| Highest | US$4.64 billion | 2021 |
| Lowest | −US$2.74 billion | 2016 |
| Average since 2015 | US$843.21 million | 2015–2024 |
| First recorded | −US$123.88 million | 1986 |
Over five years it is down 24.54% from −US$314.62 million in 2019. Since 1986 it is down 216.29% from −US$123.88 million in 1986.
In 2024, Guinea's current account balance (current US$, BoP) fell US$2.29 billion on 2023 (from US$1.9 billion to −US$391.82 million).
Across the 30 yearly changes before that (1994 to 2023), the average change was +US$65.26 million and a typical year strayed about US$1.04 billion from that (the standard deviation). This year's change was 2.3 standard deviations below that average, so it was unusually large compared with the rest of the record.
On record, the biggest yearly rise was US$3.26 billion in 2017 and the biggest yearly fall was US$2.29 billion in 2024. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about US$423.15 million a year. A straight line explains 32% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
In 2024, Guinea had the 12th highest value of the 29 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
Limitations: Discrepancies may arise in the balance of payments because there is no single source for balance of payments data and therefore no way to ensure that the data are fully consistent. Sources include customs data, monetary accounts of the banking system, external debt records, information provided by enterprises, surveys to estimate service transactions, and foreign exchange records. Differences in collection methods - such as in timing, definitions of residence and ownership, and the exchange rate used to value transactions - contribute to net errors and omissions. In addition, smuggling and other illegal or quasi-legal transactions may be unrecorded or misrecorded.
| Year | Current account balance (current US$, BoP) |
|---|---|
| 2024 | -391,820,000 |
| 2023 | 1,901,120,000 |
| 2022 | 3,350,240,000 |
| 2021 | 4,638,730,000 |
| 2020 | 2,684,750,000 |
| 2019 | -314,620,000 |
| 2018 | -190,470,000 |
| 2017 | 519,350,000 |
| 2016 | -2,744,932,548 |
| 2015 | -1,020,197,641 |
| 2014 | -981,676,724 |
| 2013 | -1,189,770,000 |
| 2012 | -1,038,620,000 |
| 2011 | -1,161,380,000 |
| 2010 | -326,890,000 |
| 2009 | -403,360,000 |
| 2008 | -438,210,000 |
| 2007 | -454,590,000 |
| 2006 | -221,350,000 |
| 2005 | -160,340,000 |
| 2004 | -162,350,000 |
| 2003 | -185,261,399 |
| 2002 | -199,626,587 |
| 2001 | -59,514,980 |
| 2000 | -140,090,196 |
| 1999 | -201,046,593 |
| 1998 | -154,466,350 |
| 1997 | -91,077,000 |
| 1996 | -177,268,000 |
| 1995 | -216,482,000 |
| 1994 | -247,980,000 |
| 1993 | -56,790,000 |
| 1992 | -262,700,000 |
| 1991 | -288,820,000 |
| 1990 | -202,980,000 |
| 1989 | -179,710,000 |
| 1988 | -221,520,000 |
| 1987 | -38,250,000 |
| 1986 | -123,880,000 |
Every indicator for Guinea is on the Guinea data page.
World Bank, World Development Indicators, indicator BN.CAB.XOKA.CD, licensed CC BY 4.0. Original source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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