Equatorial Guinea - Economy
How is the economy of Equatorial Guinea? Based on the information we have, Equatorial Guinea has a growing CEMAC economy and new OPEC member; large oil and gas reserves; targeting economic diversification and poverty reduction; still recovering from CEMAC crisis; improving public financial management; persistent poverty; hard-hit by COVID-19. Key agricultural products in this country include: sweet potatoes, cassava, plantains, oil palm fruit, root vegetables, bananas, coconuts, coffee, cocoa beans, chicken (2022).
More about the economy of Equatorial Guinea
Labor force 572,000 (2022 est.)
Industrial production growth rate 3.13% (2022 est.)
Industries petroleum, natural gas, sawmilling
Population below poverty line 44% (2011 est.)
Taxes and other revenues 5.44% (of GDP) (2021 est.)
Fiscal year
Exchange rates
Currency Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
Exchange rates 2022 623.76 (2022 est.)
Exchange rates 2021 554.531 (2021 est.)
Exchange rates 2020 575.586 (2020 est.)
Exchange rates 2019 585.911 (2019 est.)
Exchange rates 2018 555.446 (2018 est.)
Debt - external
Debt - external 31 December 2017 $1.211 billion (31 December 2017 est.)
Debt - external 31 December 2016 $1.074 billion (31 December 2016 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2021 $44.271 million (2021 est.)
Reserves of foreign exchange and gold 2020 $60.833 million (2020 est.)
Reserves of foreign exchange and gold 2019 $40.817 million (2019 est.)
Current account balance
Current account balance 2017 -$738 million (2017 est.)
Current account balance 2016 -$1.457 billion (2016 est.)
Public debt
Public debt 2017 37.4% of GDP (2017 est.)
Public debt 2016 43.3% of GDP (2016 est.)
Budget
Revenues $2.604 billion (2018 est.)
Expenditures $2.535 billion (2018 est.)
Budget surplus (+) or deficit (-) -3.3% (of GDP) (2017 est.)
Remittances
Remittances 2019 0% of GDP (2019 est.)
Remittances 2018 0% of GDP (2018 est.)
Remittances 2017 0% of GDP (2017 est.)
Imports
Imports 2022 $4.297 billion (2022 est.)
Imports 2021 $4.351 billion (2021 est.)
Imports 2020 $3.669 billion (2020 est.)
Imports (partners) Zambia 38%, China 14%, Spain 10%, Nigeria 7%, US 4% (2022)
Comodities Imports force ships, refined copper, iron alloys, raw copper, poultry (2022)
Exports
Imports 2022 $4.297 billion (2022 est.)
Imports 2021 $4.351 billion (2021 est.)
Imports 2020 $3.669 billion (2020 est.)
Exports (partners) Zambia 21%, Spain 15%, China 15%, India 10%, Italy 6% (2022)
Comodities Exports force crude petroleum, natural gas, fertilizers, packaged medicine, cars (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022 $24.987 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $24.077 billion (2021 est.)
Real GDP (purchasing power parity) 2020 $24.013 billion (2020 est.)
GDP (official exchange rate) $12.03 billion (2022 est.)
Real GDP Per capita
Real GDP per capita 2022 $14,900 (2022 est.)
Real GDP per capita 2021 $14,700 (2021 est.)
Real GDP per capita 2020 $15,000 (2020 est.)
GDP - composition, by sector of origin
Agriculture 2.5% (2017 est.)
Industry 54.6% (2017 est.)
Services 42.9% (2017 est.)
GDP - composition, by end use
Household consumption 50% (2017 est.)
Government consumption 21.8% (2017 est.)
Investment in fixed capital 10.2% (2017 est.)
Investment in inventories 0.1% (2017 est.)
Exports of goods and services 56.9% (2017 est.)
Imports of goods and services -39% (2017 est.)
Unemployment rate
Unemployment rate 2022 8.58% (2022 est.)
Unemployment rate 2021 9.19% (2021 est.)
Unemployment rate 2020 9.03% (2020 est.)
Youth unemployment rate (ages 15-24)
Total 18.3% (2021 est.)
Male 17.1%
Female 19.9%
All Important Facts about Equatorial Guinea

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Equatorial Guinea is found in Middle Africa