1) 947-3958
FAX: [1] (391) 947-3958

Diplomatic representation from the US: the US Embassy suspended
operations on 14 June 1998 in the midst of violent conflict between forces
loyal to then President VIEIRA and military-led junta; for the time being,
US embassy Dakar is responsible for covering Guinea-Bissau: [221] 823-4296

Flag description: two equal horizontal bands of yellow (top) and green
with a vertical red band on the hoist side; there is a black five-pointed
star centered in the red band; uses the popular pan-African colors
of Ethiopia

Economy Guinea-Bissau

Economy - overview: One of the 10 poorest countries in the world,
Guinea-Bissau depends mainly on farming and fishing. Cashew crops have
increased remarkably in recent years, and the country now ranks sixth
in cashew production. Guinea-Bissau exports fish and seafood along with
small amounts of peanuts, palm kernels, and timber. Rice is the major crop
and staple food. However, intermittent fighting between Senegalese-backed
government troops and a military junta destroyed much of the country's
infrastructure and caused widespread damage to the economy in 1998;
the civil war led to a 28% drop in GDP that year, with partial recovery
in 1999-2001. Before the war, trade reform and price liberalization
were the most successful part of the country's structural adjustment
program under IMF sponsorship. The tightening of monetary policy and
the development of the private sector had also begun to reinvigorate the
economy. Because of high costs, the development of petroleum, phosphate,
and other mineral resources is not a near-term prospect. However,
unexploited offshore oil reserves could provide much-needed revenue in
the long run. The inequality of income distribution is one of the most
extreme in the world. The government and international donors continue
to work out plans to forward economic development.

GDP: purchasing power parity - $1.2 billion (2001 est.)

GDP - real growth rate: 7.2% (2001 est.)

GDP - per capita: purchasing power parity - $900 (2001 est.)

GDP - composition by sector: agriculture: 54% industry: 15% services:
31% (1997 est.)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%: 0.5%
highest 10%: 42.4% (1991)

Inflation rate (consumer prices): 5% (2001 est.)

Labor force: 480,000

Labor force - by occupation: agriculture 82% (2000 est.)

Unemployment rate: NA%