Source: world bank Nominal/PPP
Summary:
Guinea GDP Per Capita expanded from 1970 to 2024, increasing from $3.22 to $25.01 .The compound annual growth rate (CAGR) averaged 3.87% over the period. The economy recorded its peak level in 2024 and its lowest level in 1986. Growth volatility remained high. The maximum drawdown reached 87.23%, 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 (2003–2004) indicating robust economic expansion
- High Growth (2007–2008) indicating robust economic expansion
- High Growth (2012–2013) indicating robust economic expansion
- Expansion (2014–2015) indicating steady moderate growth
- 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 48.86%, while the largest decline was in 1986 at -87.234%.