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Equatorial Guinea Economy 2013

SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES











Equatorial Guinea Economy 2013
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 5, 2013

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. The economy recovered from the global recession in 2011-12 stimulated by higher oil prices and large investments in public infrastructure and hotels.

GDP (purchasing power parity):
$28.03 billion (2012 est.)
country comparison to the world: 114

$26.52 billion (2011 est.)
$24.6 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$20.65 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.7% (2012 est.)
country comparison to the world: 46

7.8% (2011 est.)
-0.5% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$20,200 (2012 est.)
country comparison to the world: 63

$19,600 (2011 est.)
$18,700 (2010 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: 3.5%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 90.5%
services: 6% (2012 est.)

Labor force:
195,200 (2007)
country comparison to the world: 172
[see also: Labor force country ranks ]

Unemployment rate:
22.3% (2009 est.)
country comparison to the world: 166
[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%

Investment (gross fixed):
44.6% of GDP (2012 est.)
country comparison to the world: 5
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $10.22 billion
[see also: Budget revenues country ranks ]
expenditures: $9.644 billion (2012 est.)

Taxes and other revenues:
49.5% of GDP (2012 est.)
country comparison to the world: 18
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
2.8% of GDP (2012 est.)
country comparison to the world: 18
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
4.3% of GDP (2012 est.)
country comparison to the world: 150

5.1% of GDP (2011 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
6.2% (2012 est.)
country comparison to the world: 164

7% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
8.5% (31 December 2010 est.)
country comparison to the world: 83

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

Commercial bank prime lending rate:
15% (31 December 2012 est.)
country comparison to the world: 48

15% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$2.478 billion (31 December 2012 est.)
country comparison to the world: 120

$1.936 billion (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$3.115 billion (31 December 2012 est.)
country comparison to the world: 143

$2.166 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$508.1 million (31 December 2012 est.)
country comparison to the world: 172

$570.8 million (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

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

Industries:
petroleum, natural gas, sawmilling

Industrial production growth rate:
1.8% (2010 est.)
country comparison to the world: 127
[see also: Industrial production growth rate country ranks ]

Current account balance:
$290.2 million (2012 est.)
country comparison to the world: 51

-$945 million (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$18.31 billion (2012 est.)
country comparison to the world: 75

$15.63 billion (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
petroleum products, timber

Exports - partners:
Spain 14.8%, China 13.1%, Italy 10.9%, Japan 10.5%, US 9.5%, Netherlands 7.6%, Canada 5.5%, Brazil 5%, France 4.7%, South Korea 4.1% (2011)

Imports:
$7.59 billion (2012 est.)
country comparison to the world: 109

$7.32 billion (2011 est.)
[see also: Imports country ranks ]

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

Imports - partners:
Spain 17.1%, US 13.1%, France 12.4%, China 12.3%, Italy 6.7%, Cote dIvoire 6% (2011)

Reserves of foreign exchange and gold:
$3.825 billion (31 December 2012 est.)
country comparison to the world: 100

$3.054 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.232 billion (31 December 2012 est.)
country comparison to the world: 150

$1.149 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Exchange rates:
Cooperation Financiere en Afrique Centrale francs per US dollar -

511.4 (2012 est.)
471.87 (2011 est.)
495.28 (2010 est.)
472.19 (2009)
447.81 (2008)

Fiscal year:
calendar year


NOTE: 1) The information regarding Equatorial Guinea on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Equatorial Guinea Economy 2013 information contained here. All suggestions for corrections of any errors about Equatorial Guinea Economy 2013 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






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