Source: world bank Nominal/PPP
Summary:
Guinea GDP Per Capita expanded from 1970 to 2024, increasing from $752.82 to $1,694.95 .The compound annual growth rate (CAGR) averaged 1.51% over the period. The economy recorded its peak level in 1985 and its lowest level in 2006. Growth volatility remained high. The maximum drawdown reached 89%, indicating the largest cyclical decline from peak levels. The country experienced 8 recession episode(s) during the observed period.
Guinea Economic Phases (1970 - 2024)
From 1970 to 2024, Guinea economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1971–1976) indicating robust economic expansion
- High Growth (1978–1980) indicating robust economic expansion
- High Growth (1982–1985) indicating robust economic expansion
- High Growth (1990–1992) indicating robust economic expansion
- Contraction (1997–1999) indicating temporary slowdown
- High Growth (2007–2008) indicating robust economic expansion
- Contraction (2009–2011) indicating temporary slowdown
- High Growth (2012–2013) indicating robust economic expansion
- Contraction (2015–2016) indicating temporary slowdown
- High Growth (2017–2019) indicating robust economic expansion
- High Growth (2021–2024) indicating robust economic expansion
The most remarkable growth occurred in 2007 with an increase of 45.453%, while the largest decline was in 1986 at -87.545%.