The Republic of Guinea has completed a major rebasing exercise of its Gross Domestic Product (GDP), conducted by the National Institute of Statistics (INS) under the supervision of the Ministry of Planning and International Cooperation.
This revision, carried out with the support of the IMF, the World Bank, the African Development Bank, and AFRISTAT, reveals a 51.2% increase in GDP, providing a more accurate and comprehensive picture of the national economic structure.
The rebasing updates the reference year for national accounts from 2006 to 2018, marking a major step forward for the country’s economic statistics. The number of sectors covered has increased to 104 activity branches and 187 economic products, compared with 34 and 54 previously. The exercise now integrates new data sources: agriculture, employment, the informal sector, remittances, research, and digital activities – to fully reflect the dynamism of the Guinean economy.
Conducted under the guidance of the Simandou Strategic Committee, this rebasing is part of the Simandou 2040 Program, the national roadmap for socio-economic transformation. Alongside the sovereign credit rating, the establishment of the sovereign wealth fund, and the integrated Simandou project, it represents one of the key prerequisites for implementing the Program, ensuring the reliability of economic data and strengthening the country’s credibility with technical and financial partners.
The results highlight the robustness and growing diversification of the national economy:
- 2018 GDP: GNF 161,539.2 billion (compared to GNF 106,845.3 billion previously)
- 2024 GDP: GNF 311,898 billion, or approximately USD 36.3 billion
- Average growth: 6.1% between 2021 and 2024
- Debt ratio: 29.07%, a significant improvement from the previous 45%
- GDP per capita: USD 2,068, up from USD 1,345 before rebasing
“The GDP rebasing is not merely a statistical exercise. It provides Guinea with a reliable economic compass and a solid foundation for planning its future. It is a tool of credibility and transparency, in service of our economic sovereignty,” declared H.E. Ismaël Nabe, Minister of Planning and International Cooperation.
This reform is part of a broader effort to modernize economic governance. In September 2025, the rating agency Standard & Poor’s assigned the Republic of Guinea its first-ever sovereign credit rating (B+ with stable outlook), recognizing the country’s macroeconomic strength, fiscal discipline, and ongoing structural reforms.
This international acknowledgment reinforces investor confidence and supports the implementation of the Simandou 2040 Program, the national roadmap aimed at transforming natural resources into shared and sustainable prosperity.
The GDP rebasing aligns Guinea with international standards of economic transparency and demonstrates its ability to strengthen its development fundamentals.
This major milestone reflects the vision of the President of the Republic, His Excellency General Mamadi Doumbouya, to build a modern, sovereign, and resilient Guinea, driven by strong institutions and reliable data.
