Guinea-Bissau Economy and Business

• GDP: US$329 million (2006).
• Main exports: Cashew nuts, shrimp, peanuts, palm kernals and sawn lumber.
• Main imports: Food, machinery and transport equipment and petroleum products.
• Main trade partners: India, China, EU, Uruguay and Senegal.

Rice is the staple food in this poor, largely subsistence economy. The main cash crops are groundnuts, cashew nuts and palm kernels. Timber is the only significant industry. An attempt to revive cotton production has received EU assistance; sugar refining and fishing have also undergone major development. Planned developments of oil and bauxite deposits have not progressed as far as had been hoped.

Guinea-Bissau is a member of the West African Economic Community (ECOWAS) and joined the CFA Franc Zone in May 1997. Since then, the country has been recovering from internal conflicts which cut economic output by up to one-third and damaged much of the country’s already limited infrastructure. In the short term, Guinea-Bissau will continue to rely on large quantities of foreign aid, of which it is among the highest per capita recipients in the world.

Lightweight suits are advised. A knowledge of Portuguese is useful as only a few executives speak English. Visits during Ramadan should be avoided.

Office hours: Mon-Fri 0730-1400.

For further information contact the embassy (or consular section at embassy); see Contact Addresses.