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MARKET BRIEFING – GUINEA BISSAU
Guinea Bissau got its independence from Portugal in 1974. It's present leader Henrique Rosa was sworn in as President in September 2003. A path to a market economy and multiparty system was implemented in 1991.
Guinea Bissau depends mainly on farming and fishing. Cashew crops have increased remarkably in recent years and the country now ranks sixth in the area of cashew nut production. Guinea-Bissau exports fish and seafood along with small amounts of peanuts, palm kernels, and timber. The country has large reserves of petroleum offshore. Trade reforms and price liberalisation have been the most successful part of the country's structural adjustment programme under IMF sponsorship.
| 2004 MAJOR ECONOMIC INDICATORS | |
| Gross Domestic Product (Billions US$) | 0.29 |
| Real GDP growth (%) | 2.6% |
| GDP per capita (current US$) | 189 |
| Inflation (%) | 2.3% |
| Land area (sq km) | 36,125 |
| Population (Million) | 1.53 |
FOREIGN TRADE FROM 2001 TO 2004 (Unit: Billion U.S. dollars)
| Year | Total Trade | Exports | Imports |
| 2001 | 124.8 | 62.9 | 61.9 |
| 2002 | 118.6 | 50.7 | 67.9 |
| 2003 | 137.5 | 68.7 | 68.8 |
| 2004 | 167.5 | 81.2 | 86.3 |
FOREIGN TRADE 2003
| Main Exports | US$ Millions | Main Imports | US$ Millions |
| Cashew nuts | 64.1 | Foodstuffs | 22.8 |
| Fish & Shrimps | 0.2 | Capital equipment | 21.5 |
| Other | 2.8 | Petroleum products | 7.2 |
| Main Destinations | % | Main Origins | % |
| India | 62.6 | Senegal | 18.1 |
| Uruguay | 23.7 | Portugal | 14.7 |
| Italy | 4.4 | India | 14.4 |
| Denmark | 2.5 | China | 9.5 |
SOURCE:
The Ministry of Foreign Affairs of the People's Republic of China
http://www.fmprc.gov.cn/chn/
The Ministry of Commerce of the People's Republic of China
http://www.mofcom.gov.cn/
Macao Statistics and Census Service
http://www.dsec.gov.mo/c_index.html
Macao Economic Services
The Economist Intelligence Unit
http://www.economia.gov.mo/
The Economic and Commercial Counselor’s office of the Embassy of the People’s Republic of China in the Democratic Republic of East Timor
http://easttimor.mofcom.gov.cn/index.shtml
The Economic and Commercial Consul’s Office of the Embassy of the
People’s Republic of China in Guinea Bissau
http://gw.mofcom.gov.cn/index.shtml
