What is Economy of Guinea?

The economy of Guinea is dependent largely on agriculture and other rural activities. Guinea is richly endowed with good minerals, possessing an estimated quarter of the world's proven reserves of bauxite, more than 1.8 billion tonnes of high-grade iron ore, significant diamond and gold deposits, and undetermined quantities of uranium.

Guinea also has considerable potential for growth in the agricultural and fishing sectors. Land, water, and climatic conditions provide opportunities for large-scale irrigated farming and agroindustry. Remittances from Guineans living and working abroad and coffee exports account for the rest of Guinea's foreign exchanges industry.