Guinea-Bissau
As a least-developed country (LDC), Guinea-Bissau is a beneficiary of the EU's "Everything but Arms" (EBA) arrangement. The World Bank classifies Guinea-Bissau as a low-income economy with a per-capita income of $951 in 2023. Total EU imports from Guinea-Bissau amounted to about €3.8 million in 2023. Preferential imports amounted to €399 thousand in 2023.
What is the EBA?
The EBA arrangement covers all LDCs as classified by the United Nations. This arrangement enables duty-free and quota-free access for all products originating in LDCs except for arms and ammunition. Unlike beneficiaries of the Standard GSP and GSP+, LDCs are not excluded from the scheme if they benefit from other preferential arrangements or agreements with the EU.
At a glance: EU preferential imports from EBA beneficiary countries (2023, € million)
2.2M (2023)
Population
Semi-Presidential Republic
Government
5.2% (2023)
GDP Growth
7.2% (2023)
Inflation
$ 2.0B (2023)
GDP
Facts about Guinea Bissau's economy
Export Products
Guinea Bissau's top export products in 2023 were cashew nuts, frozen fish, and fish oils.
Cashew Production
Guinea Bissau is the world’s sixth largest producer of cashews and the second largest producer in West Africa. The Cashew sector is one of the cornerstones of the country’s economy.
Trade Partners
Singapore, the EU, China, and Senegal accounted for the largest share of Guinea Bissau's trade (about 86% in 2023). The most important export markets for products from Guinea-Bissau are Singapore (60%), China and India.
Economic Structure
The economy is based mainly on services (46% of GDP in 2023) and agriculture (31%). Agriculture supports the livelihood of about 80% of the population. Industrial activity so far is limited to a number of small-scale operations mainly in the area of agricultural processing and beverages.
Usage of EBA Preferences
Because most of Guinea Bissau's exports can enter the EU market duty free under the normal tariff regime, only about 11% of EU total imports from Guinea Bissau made use of EBA preferences in 2023. The preference utilisation rate, which measures the share of EBA eligible imports that actually use the preferences, reached 90% in 2023.
Trade with the EU
Total trade with the EU amounted to €109 million in 2023. The EU is the second most important trading partner for Guinea Bissau, accounting for almost 17% of overall trade. 43% of the country's imports originate from the EU while only 1.4% of exports go to the EU market.
Guinea Bissau and the EU
Imports from Guinea Bissau by product section (2023, € million)
Imports from Guinea Bissau over time (€ million)
GUINEA BISSAU AND THE EU GSP
Economic Impact
12%
Share of Guinea Bissau's exports to the EU that were eligible for EBA preferences in 2023.
90%
Guinea-Bissau's preference utilisation rate in 2023.
99%
Share of zero-duty imports from Guinea-Bissau. Most imports are duty-free under normal EU tariffs.
Preference utilisation and export diversification
EU imports from Guinea-Bissau (€ million)
Preference utilisation (%) vs. total eligible imports (in € million)
Although Guinea-Bissau’s preference-eligible exports are small in absolute terms, the preference utilisation rate was high in recent years, at 88% in 2022 and 90% in 2023. This can be attributed to a substantial increase in exports of agricultural products in recent years. Agricultural exports remain the only product sections in which EBA preferences are being used.
The largest product sections under EBA (€ million, 2023)
Agricultural products, predominantly fats and fruits, account for the majority of EU imports from Guinea-Bissau. The graph indicates that despite a low level of eligibility, economic operators could make better use of EBA preferences. Likewise, this graph indicates the low level of diversification of Guinea-Bissau’s economy and its high dependency on nuts, fruits and vegetables.
SUSTAINABLE DEVELOPMENT
The preferential access to the EU market granted by the EBA scheme is not bound to the ratification of international conventions. Nevertheless, Guinea Bissau maintains a very high level of ratification and has ratified 14 out of 15 core international conventions that protect human and labour rights. In addition, Guinea Bissau has ratified 8 international conventions on the protection of the environment and 4 good governance conventions.
Core international conventions on human rights and labour standards
Ratified
- Convention on the Prevention and Punishment of the Crime of Genocide (1948)
- International Convention on the Elimination of All Forms of Racial Discrimination (1969)
- International Covenant on Civil and Political Rights (1976)
- International Covenant on Economic Social and Cultural Rights (1976)
- Convention on the Elimination of All Forms of Discrimination Against Women (1981)
- Convention Against Torture and other Cruel, Inhuman or Degrading Treatment or Punishment (1987)
- Convention on the Rights of the Child (1990)
- Convention concerning Forced or Compulsory Labour, No 29 (1930)
- Convention concerning the Application of the Principles of the Right to Organise and to Bargain Collectively, No 98 (1949)
- Convention concerning Equal Remuneration of Men and Women Workers for Work of Equal Value, No 100 (1951)
- Convention concerning the Abolition of Forced Labour, No 105 (1957)
- Convention concerning Discrimination in Respect of Employment and Occupation, No 111 (1958)
- Convention concerning Minimum Age for Admission to Employment, No 138 (1973)
- Convention concerning the Prohibition and Immediate Action for the Elimination of the Worst Forms of Child Labour, No 182 (1999)
Not Ratified
- Convention concerning Freedom of Association and Protection of the Right to Organise, No 87 (1948)
Additional Conventions
- Convention on International Trade in Endangered Species of Wild Fauna and Flora (1973)
- Montreal Protocol on Substances that Deplete the Ozone Layer (1987)
- Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal (1989)
- Convention on Biological Diversity (1992)
- The United Nations Framework Convention on Climate Change (1992)
- Cartagena Protocol on Biosafety (2000)
- Stockholm Convention on persistent Organic Pollutants (2001)
- Kyoto Protocol to the United Nations Framework Convention on Climate Change (1998)
- United Nations Single Convention on Narcotic Drugs (1961)
- United Nations Convention on Psychotropic Substances (1971)
- United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances (1988)
- United Nations Convention against Corruption (2004)
EU-Guinea Bissau Bilateral Development Cooperation
DG INTPA
Access all info about EU-Guinea Bissau relations on the International Partnerships website.