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Equatorial Guinea Economy 2017
http://www.theodora.com/wfbcurrent/equatorial_guinea/equatorial_guinea_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Equatorial Guinea Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Exploitation of oil and gas deposits, beginning in the 1990s, has driven economic growth in Equatorial Guinea, allowing per capita GDP to rise to over $29,000 in 2014. Forestry and farming are minor components of GDP. Although preindependence Equatorial Guinea counted on cocoa production for hard currency earnings, the neglect of the rural economy since independence has diminished the potential for agriculture-led growth. Subsistence farming is the dominant form of livelihood. Declining revenue from hydrocarbon production, high levels of infrastructure expenditures, lack of economic diversification, and corruption have pushed the economy into decline in recent years and led to limited improvements in the general population’s living conditions.Foreign assistance programs by the World Bank and the IMF have been cut since 1993 because of corruption and mismanagement, and as a middle income country Equatorial Guinea is now ineligible for most donor assistance. The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working towards compliance with the Extractive Industries Transparency Initiative. US foreign assistance to Equatorial Guinea is limited in part because of US restrictions pursuant to the Trafficking Victims Protection Act.Equatorial Guinea hosted two economic diversification symposia in 2014 that focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services. Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals.

GDP (purchasing power parity):
$31.77 billion (2016 est.) $35.25 billion (2015 est.) $38.08 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 129
[see also: GDP country ranks ]

GDP (official exchange rate):
$11.64 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-9.9% (2016 est.) -7.4% (2015 est.) -0.5% (2014 est.)
country comparison to the world: 222
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$38,700 (2016 est.) $44,100 (2015 est.) $48,900 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 43
[see also: GDP - per capita country ranks ]

Gross national saving:
19.3% of GDP (2016 est.) 36.3% of GDP (2015 est.) 46.3% of GDP (2014 est.)
country comparison to the world: 91
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 25.6%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 5.7%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 69.7%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 53.4%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -54.5% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 8.8%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 71.7%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 16.5% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
coffee, cocoa, rice, yams, cassava (manioc, tapioca), bananas, palm oil nuts; livestock; timber

Industries:
petroleum, natural gas, sawmilling

Industrial production growth rate:
-6.7% (2016 est.)
country comparison to the world: 199
[see also: Industrial production growth rate country ranks ]

Labor force:
195,200 (2007 est.)
country comparison to the world: 173
[see also: Labor force country ranks ]

Unemployment rate:
22.3% (2009 est.)
country comparison to the world: 174
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $2.436 billion
[see also: Budget revenues country ranks ]
expenditures: $2.862 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
20.9% of GDP (2016 est.)
country comparison to the world: 149
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.7% of GDP (2016 est.)
country comparison to the world: 125
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
24.3% of GDP (2016 est.) 16.4% of GDP (2015 est.)
country comparison to the world: 157
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
3.1% (2016 est.) 11.7% (2015 est.)
country comparison to the world: 141
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
8.5% (31 December 2010) 4.25% (31 December 2009)
country comparison to the world: 37
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
14% (31 December 2016 est.) 14% (31 December 2015 est.)
country comparison to the world: 49
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.445 billion (31 December 2016 est.) $1.888 billion (31 December 2015 est.)
country comparison to the world: 140
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$3.788 billion (31 December 2014 est.) $3.841 billion (31 December 2013 est.)
country comparison to the world: 140
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.443 billion (31 December 2016 est.) $1.557 billion (31 December 2015 est.)
country comparison to the world: 154
[see also: Stock of domestic credit country ranks ]

Current account balance:
-$1.368 billion (2016 est.) -$2.322 billion (2015 est.)
country comparison to the world: 137
[see also: Current account balance country ranks ]

Exports:
$5.064 billion (2016 est.) $7.41 billion (2015 est.)
country comparison to the world: 106
[see also: Exports country ranks ]

Exports - commodities:
petroleum products, timber

Exports - partners:
China 16.6%, South Korea 15.1%, Spain 9%, Brazil 8.2%, Netherlands 6.8%, South Africa 6.6%, India 5.8%, UK 5.7%, France 5.7% (2015)

Imports:
$3.03 billion (2016 est.) $3.953 billion (2015 est.)
country comparison to the world: 140
[see also: Imports country ranks ]

Imports - commodities:
petroleum sector equipment, other equipment, construction materials, vehicles

Imports - partners:
Netherlands 16.9%, Spain 16.3%, China 14.8%, US 8.9%, Cote dIvoire 6%, France 4.8% (2015)

Reserves of foreign exchange and gold:
$621.9 million (31 December 2016 est.) $1.205 billion (31 December 2015 est.)
country comparison to the world: 140
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.364 billion (31 December 2016 est.) $1.194 billion (31 December 2015 est.)
country comparison to the world: 158
[see also: Debt - external country ranks ]

Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - 605.7 (2016 est.) 591.45 (2015 est.) 591.45 (2014 est.) 494.42 (2013 est.) 510.53 (2012 est.)

NOTE: The information regarding Equatorial Guinea on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Equatorial Guinea Economy 2017 information contained here. All suggestions for corrections of any errors about Equatorial Guinea Economy 2017 should be addressed to the CIA.




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