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Equatorial Guinea Economy 2012

SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES











Equatorial Guinea Economy 2012
SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 21,

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.)
country comparison to the world: 113

$24.38 billion (2010 est.)
$24.58 billion (2009 est.)
note: data are in 2011 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$19.4 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
7.1% (2011 est.)
country comparison to the world: 17

-0.8% (2010 est.)
5.7% (2009 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$19,300 (2011 est.)
country comparison to the world: 65

$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
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 3.4%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 91.7%
[see also: GDP - composition by sector - industry country ranks ]
services: 4.9% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
195,200 (2007)
country comparison to the world: 171
[see also: Labor force country ranks ]

Unemployment rate:
22.3% (2009 est.)
country comparison to the world: 170
[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 ]

Investment (gross fixed):
36.6% of GDP (2011 est.)
country comparison to the world: 14
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $9.603 billion
[see also: Budget revenues country ranks ]
expenditures: $9.17 billion (2011 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
49.5% of GDP (2011 est.)
country comparison to the world: 18
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
2.2% of GDP (2011 est.)
country comparison to the world: 21
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
5.5% of GDP (2011 est.)
country comparison to the world: 132

5.1% of GDP (2010 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
7% (2011 est.)
country comparison to the world: 152

8.2% (2010 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
8.5% (31 December 2010 est.)
country comparison to the world: 87

4.25% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
15% (31 December 2011 est.)
country comparison to the world: 45

15% (31 December 2010 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$2.384 billion (31 December 2011 est.)
country comparison to the world: 119

$1.889 billion (31 December 2010 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.882 billion (31 December 2011 est.)
country comparison to the world: 144

$2.109 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$213.6 million (31 December 2011 est.)
country comparison to the world: 180

$171.8 million (31 December 2010 est.)
[see also: Stock of domestic credit country ranks ]

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

Industries:
petroleum, natural gas, sawmilling

Industrial production growth rate:
1.8% (2010 est.)
country comparison to the world: 132
[see also: Industrial production growth rate country ranks ]

Electricity - production:
92 million kWh (2008 est.)
country comparison to the world: 194
[see also: Electricity - production country ranks ]

Electricity - consumption:
85.56 million kWh (2008 est.)
country comparison to the world: 195
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
322,700 bbl/day (2010 est.)
country comparison to the world: 36
[see also: Oil - production country ranks ]

Oil - consumption:
2,000 bbl/day (2010 est.)
country comparison to the world: 186
[see also: Oil - consumption country ranks ]

Oil - exports:
395,000 bbl/day (2009 est.)
country comparison to the world: 34
[see also: Oil - exports country ranks ]

Oil - imports:
1,729 bbl/day (2009 est.)
country comparison to the world: 183
[see also: Oil - imports country ranks ]

Natural gas - production:
6.27 billion cu m (2009 est.)
country comparison to the world: 47
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
1.55 billion cu m (2009 est.)
country comparison to the world: 85
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
4.72 billion cu m (2009 est.)
country comparison to the world: 29
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2009 est.)
country comparison to the world: 186
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
36.81 billion cu m (1 January 2011 est.)
country comparison to the world: 68
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$941 million (2011 est.)
country comparison to the world: 123

-$1.296 billion (2010 est.)
[see also: Current account balance country ranks ]

Exports:
$13.65 billion (2011 est.)
country comparison to the world: 80

$10.39 billion (2010 est.)
[see also: Exports country ranks ]

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.)
country comparison to the world: 107

$5.7 billion (2010 est.)
[see also: Imports country ranks ]

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.)
country comparison to the world: 102

$2.346 billion (31 December 2010 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.002 billion (31 December 2011 est.)
country comparison to the world: 155

$794.7 million (31 December 2010 est.)
[see also: Debt - external country ranks ]

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)


NOTE: 1) The information regarding Equatorial Guinea on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Equatorial Guinea Economy 2012 information contained here. All suggestions for corrections of any errors about Equatorial Guinea Economy 2012 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 07-Mar-12
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