Guinea: Current account balance (% of GDP)

Key figures

What the numbers say

In 2024, Guinea's current account balance (% of GDP) fell 10.05 percentage points on 2023 (from 8.48% to -1.57%).

Across the 30 yearly changes before that (1994 to 2023), the average change was +0.32 percentage points and a typical year strayed about 9.72 percentage points from that (the standard deviation). This year's change was 1.1 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 36.96 percentage points in 2017 and the biggest yearly fall was 20.33 percentage points in 2016. 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 3.27 percentage points a year. A straight line explains 34% 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.

How it compares

In 2024, Guinea had the 11th highest value of the 30 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.

Closest to Guinea in the 2024 ranking

• Liberia — 8th of 30: 2.51%
• Zimbabwe — 9th of 30: 1.21%
• Haiti — 10th of 30: -0.6%
• Ethiopia — 12th of 30: -2.53%
• Tanzania — 13th of 30: -3%
• Cameroon — 14th of 30: -3.28%

What this measures

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 as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

All 39 values

Current account balance (% of GDP) in nearby economies

• Angola — 0.34% (2025)
• Benin — -8.18% (2023)
• Botswana — 2.93% (2025)
• Burkina Faso — -3.97% (2024)
• Burundi — -13.71% (2025)
• Cabo Verde — 3.56% (2025)
• Cameroon — -3.28% (2024)
• Comoros — -1.68% (2023)
• Congo, Dem. Rep. — -4.33% (2025)
• Congo, Rep. — 11.57% (2021)
• Côte d'Ivoire

More economic policy & debt data for Guinea

• Grants, excluding technical cooperation (BoP, current US$) — US$393.69 million (2023)
• Technical cooperation grants (BoP, current US$) — US$42.92 million (2023)
• Net bilateral aid flows from DAC donors, Total (current US$) — US$278.62 million (2023)
• Net official development assistance and official aid received (current US$) — US$531.75 million (2023)
• Net official development assistance and official aid received (constant 2023 US$) — US$531.75 million (2023)
• Net official development assistance received (current US$) — US$531.75 million (2023)
• Net official development assistance received (constant 2023 US$) — US$531.75 million (2023)
• Net ODA received per capita (current US$)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Guinea's current account balance (% of GDP)?

-1.57% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1986?

It is up 2.69 percentage points from -4.26% in 1986. The highest value was 27.18% in 2021 and the lowest -31.93% in 2016.

How does Guinea rank?

11th highest of 30 economies with data for 2024.

Is the latest change in current account balance (% of GDP) unusual for Guinea?

In 2024, Guinea's current account balance (% of GDP) fell 10.05 percentage points on 2023 (from 8.48% to -1.57%). Across the 30 yearly changes before that (1994 to 2023), the average change was +0.32 percentage points and a typical year strayed about 9.72 percentage points from that (the standard deviation). This year's change was 1.1 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator BN.CAB.XOKA.GD.ZS, licensed CC BY 4.0. Original source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF); World Development Indicators Database, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD) 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.

Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.