With GDP of just USD15bn, Guinea is a one of the less developed economies in West Africa despite its sizeable mineral reserves (bauxite, iron ore, gold). The mining sector is the main engine of the Guinean economy. A mining boom has fuelled a robust economic expansion, with growth averaging 8.2% in 2016-2019. Even in 2020, Guinea bucked the global trend of pandemic-induced recession in 2020 with a 5.2% increase in GDP.
