| Economy | Equatorial Guinea |
 = Fields  = World Records  = Dictionary  = Bar graph  = Distribution map  = Fields History  = Definitions |
Economy - overview:
|
The discovery and exploitation of large oil and gas reserves have contributed to dramatic economic growth but fluctuating oil prices have produced huge swings in GDP growth in recent years. Forestry and farming are also minor components of GDP. Subsistence farming is the dominate form of livelihood. Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the neglect of the rural economy under successive regimes has diminished potential for agriculture-led growth (the government has stated its intention to reinvest some oil revenue into agriculture). A number of aid programs sponsored by the World Bank and the IMF have been cut off since 1993 because of corruption and mismanagement. The government has been widely criticized for its lack of transparency and misuse of oil revenues; however, in 2010, under Equatorial Guinea's candidacy in the Extractive Industries Transparency Initiative, the government published oil revenue figures for the first time. Undeveloped natural resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. Growth remained strong in 2008, when oil production peaked, but fell in 2009-10, as the price of oil and the production level dropped. Growth returned in 2011 stimulated by higher oil prices and large investments in public infrastructure and hotels. |
GDP (purchasing power parity):
|
$26.11 billion (2011 est.)
$24.38 billion (2010 est.)
$24.58 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$19,300 (2011 est.)
$18,600 (2010 est.)
$19,300 (2009 est.)
note: data are in 2010 US dollars; population figures are uncertain for Equatorial Guinea; these per capita income figures are based on a estimated population of less than 700,000; some estimates put the figure as high as 1.2 million people; if true, the per capita GDP figures would be significantly lower |
GDP (official exchange rate):
|
$19.4 billion (2011 est.) |
GDP - real growth rate:
|
7.1% (2011 est.)
-0.8% (2010 est.)
5.7% (2009 est.) |
GDP - composition by sector:
|
agriculture: 3.4%
industry: 91.7%
services: 4.9% (2011 est.) |
Investment (gross fixed):
|
36.6% of GDP (2011 est.) |
Population below poverty line:
|
NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
7% (2011 est.)
8.2% (2010 est.) |
Central bank discount rate:
|
8.5% (31 December 2010 est.)
4.25% (31 December 2009 est.) |
Commercial bank prime lending rate:
|
15% (31 December 2011 est.)
15% (31 December 2010 est.) |
Stock of money:
|
$1.11 billion (31 December 2008)
$835.2 million (31 December 2007) |
Stock of money - per capita:
|
1,662 USD per capita |
Stock of quasi money:
|
$132.1 million (31 December 2008)
$174.5 million (31 December 2007) |
Stock of quasi money - per capita:
|
198 USD per capita |
Stock of domestic credit:
|
$213.6 million (31 December 2011 est.)
$171.8 million (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
320 USD per capita |
Stock of narrow money:
|
$2.384 billion (31 December 2011 est.)
$1.889 billion (31 December 2010 est.) |
Stock of broad money:
|
$2.882 billion (31 December 2011 est.)
$2.109 billion (31 December 2010 est.) |
Labor force:
|
195,200 (2007) |
Labor force participation rate:
|
29.21 % of population |
Labor force - by occupation:
|
void |
Unemployment rate:
|
22.3% (2009 est.) |
Unemployment, youth ages 15-24:
|
void |
Budget:
|
revenues: $9.603 billion
expenditures: $9.17 billion (2011 est.) |
Budget revenues per capita:
|
14,371 USD per capita |
Taxes and other revenues:
|
49.5% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
2.2% of GDP (2011 est.) |
Public debt:
|
5.5% of GDP (2011 est.)
5.1% of GDP (2010 est.) |
Industries:
|
petroleum, natural gas, sawmilling |
Industrial production growth rate:
|
1.8% (2010 est.) |
Electricity - production:
|
92 million kWh (2008 est.) |
Electricity - production per capita:
|
138 kWh per capita |
Electricity - consumption:
|
85.56 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
129 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
|
322,700 bbl/day (2010 est.) |
Oil - production per capita:
|
482,922 bbl/day per capita |
Oil - consumption:
|
2,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
1.09 bbl/year per capita |
Oil - exports:
|
395,000 bbl/day (2009 est.) |
Oil - imports:
|
1,729 bbl/day (2009 est.) |
Oil - proved reserves:
|
1.1 billion bbl (1 January 2011 est.) |
Natural gas - production:
|
6.27 billion cu m (2009 est.) |
Natural gas - production per capita:
|
9,384 cu m per capita |
Natural gas - consumption:
|
1.55 billion cu m (2009 est.) |
Natural gas - consumption - per capita:
|
2,320 cu m per capita |
Natural gas - exports:
|
4.72 billion cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
36.81 billion cu m (1 January 2011 est.) |
Agriculture - products:
|
coffee, cocoa, rice, yams, cassava (tapioca), bananas, palm oil nuts; livestock; timber |
Current account balance:
|
-$941 million (2011 est.)
-$1.296 billion (2010 est.) |
Current account balance - per capita:
|
-1,408 USD per capita |
Exports:
|
$13.65 billion (2011 est.)
$10.39 billion (2010 est.) |
Exports per capita:
|
20,428 USD per capita |
Exports - commodities:
|
petroleum products, timber |
Exports - partners:
|
US 24.3%, Italy 10.3%, Spain 10.1%, South Korea 8.3%, Canada 7.6%, China 6.3%, Netherlands 6.1%, Brazil 5.9% (2010) |
Imports:
|
$7.187 billion (2011 est.)
$5.7 billion (2010 est.) |
Imports per capita:
|
10,756 USD per capita |
Imports - commodities:
|
petroleum sector equipment, other equipment, construction materials, vehicles |
Imports - partners:
|
China 21.4%, Spain 13.8%, US 12.7%, France 10.9%, Cote dIvoire 6.7%, UK 6.3%, Italy 5.2% (2010) |
Reserves of foreign exchange and gold:
|
$3.178 billion (31 December 2011 est.)
$2.346 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
4,756 USD per capita |
Debt - external:
|
$1.002 billion (31 December 2011 est.)
$794.7 million (31 December 2010 est.) |
Debt - external - per capita:
|
1,500 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
void |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
Communaute Financiere Africaine franc (XAF); note - responsible authority is the Bank of the Central African States |
Exchange rates:
|
Cooperation Financiere en Afrique Centrale francs per US dollar -
466.2 (2011 est.)
495.28 (2010 est.)
472.19 (2009)
447.81 (2008)
481.83 (2007) |
Fiscal year:
|
calendar year |
|
= Fields = World Records = Dictionary = Bar graph = Distribution map = Fields History = Definitions |
|
Home 
Geographic Names
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
