|Basic Information||Guinea-Bissau is located on the west coast of Africa. With a land area of 36,000 square kilometres and a sea area of 8,120 square kilometers, it has 88 islands and a population of approximately 1.9 million. The capital, Bissau, is the largest city as well as an independent autonomous region. It is also the national political, economic, and cultural centre.|
The moderate natural resources of Guinea-Bissau allow the country to operate farming, animal husbandry and fisheries. Its market threshold is friendly to foreign investors. The country has ample labour froce and apparent cost competitiveness; primary products in Guinea-Bissau are cheap and low-end industries are welcome. The Guinea-Bissau government’s policy agenda is dedicated to poverty reduction plans, power construction, port projects, telecommunication networks, fishery facilities, road construction, aviation facilities and tourism development, etc.
Doing Business 2020 – the World Bank’s report on business environment – points out that Guinea-Bissau moved up one position in the ranking of business environment convenience. It has made progress in terms of starting business and getting a construction permit.
Guinea-Bissau is a typical agricultural country. 80% of the country’s population make a living through agriculture. Its main crops are rice, cashews, palms, cassava, peanuts. Fisheries and forestry are also important local resources, and forestry exports are mainly used for building materials and furniture. Secondly, the service industry also accounts for a considerable portion of the local economy, mainly in trading and catering services. The industrial foundation is relatively weak, and mining resources have not been effectively developed.
The main export destinations of Guinea-Bissau are India, China, Vietnam, Singapore and the UAE. The main export goods are cashew nuts, fish and shrimp. The main origins for imports include Portugal, Senegal, Pakistan, and China. The main imported goods are food, petroleum products, and capital goods.
China’s exports to Guinea-Bissau are mainly electrical products, high-tech products, textiles. The goods imported from Guinea-Bissau are mainly cashew nuts, sesame, peanuts and wood.