Guinea Bissau GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Guinea Bissau expanded 2.60 percent in the first quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Guinea Bissau averaged 2.38 percent from 1971 until 2014, reaching an all time high of 22.80 percent in the first quarter of 2013 and a record low of -28.10 percent in the fourth quarter of 1998. GDP Annual Growth Rate in Guinea Bissau is reported by the Central Bank of West African States (BCEAO).
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Guinea Bissau is one of the poorest countries in the world. The export of cashew nuts, which account for over 90 percent of total exports, is the backbone of the country’s economy. The major obstacle to the country’s growth is the unstable social environment caused by successive military coups and the traffic of narcotics. After the death of the president in January of 2012, the military seized power and suspended democracy. As a result, the Economic Community of Central Africa threatened sanctions that can hamper the country’s future. This page provides - Guinea Bissau GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.