opia; similar to
the flag of Rwanda, which has a large black letter R centered in the
yellow band

Economy
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Economic overview: Although possessing major mineral, hydropower,
and agricultural resources, Guinea remains one of the poorest
countries in the world. The agricultural sector employs 80% of the
work force. Guinea possesses over 25% of the world's bauxite
reserves. The mining sector accounted for 85% of exports in 1991.
Long-run improvements in literacy, financial institutions, and the
legal framework are needed if the country is to move out of poverty.
Except in the bauxite industry, foreign investment remains minimal.

GDP: purchasing power parity - $6.5 billion (1995 est.)

GDP real growth rate: 4% (1995 est.)

GDP per capita: $1,020 (1995 est.)

GDP composition by sector:
agriculture: 24%
industry: 31%
services: 45% (1995 est.)

Inflation rate (consumer prices): 4.1% (1994 est.)

Labor force: 2.4 million (1983)
by occupation: agriculture 80.0%, industry and commerce 11.0%,
services 5.4%, civil service 3.6%

Unemployment rate: NA%

Budget:
revenues: $449 million
expenditures: $708 million, including capital expenditures of $361
million (1990 est.)

Industries: bauxite, gold, diamonds; alumina refining; light
manufacturing and agricultural processing industries

Industrial production growth rate: NA%

Electricity:
capacity: 180,000 kW
production: 520 million kWh
consumption per capita: 77 kWh (1993)

Agriculture: rice, coffee, pineapples, palm kernels, cassava
(tapioca), bananas, sweet potatoes; cattle, sheep, goats; timber

Exports: $562 million (1994 est.)
commodities: bauxite, alumina, diamonds, gold, coffee, pineapples,
bananas, palm kernels
partners: US 23%, Belgium 12%, Ireland 12%, Spain 12%

Imports: $688 million (1994 est.)
commodities: petroleum products, metals, machinery, transport
equipment, textiles, grain and other foodstuffs
partners: France 26%, Cote d'Ivoire 12%, Hong Kong 6%, Germany 6%

External debt: $3.02 billion (1994)

Economic aid:
recipient: ODA, $NA

Currency: 1 Guinean franc (FG) = 100 centimes

Exchange rates: Guinean francs (FG) per US$1 - 995.3 (August
1995), 976.6 (1994), 955.5 (1993), 902.0 (1992), 753.9 (1991)
note: the official exchange rate of the Guinean franc was set and
quoted weekly against the US dollar until end-October 1993; since 1
November 1994, the exc