Economy
Equatorial Guinea
Budget
revenues
$3.62 billion (2022 est.)
expenditures
$2.051 billion (2022 est.)
Exports
Exports 2022
$7.25 billion (2022 est.)
Exports 2023
$4.516 billion (2023 est.)
Exports 2024
$4.489 billion (2024 est.)
Imports
Imports 2022
$3.948 billion (2022 est.)
Imports 2023
$3.065 billion (2023 est.)
Imports 2024
$3.24 billion (2024 est.)
Industries
petroleum, natural gas, sawmilling
Labor force
715,000 (2024 est.)
Public debt
Public debt 2016
43.3% of GDP (2016 est.)
Remittances
Remittances 2021
0% of GDP (2021 est.)
Remittances 2022
0% of GDP (2022 est.)
Remittances 2023
0% of GDP (2023 est.)
Exchange rates
Currency
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
Exchange rates 2020
575.586 (2020 est.)
Exchange rates 2021
554.531 (2021 est.)
Exchange rates 2022
623.76 (2022 est.)
Exchange rates 2023
606.57 (2023 est.)
Exchange rates 2024
606.345 (2024 est.)
Economic overview
expanding CEMAC economy and new OPEC member; substantial oil and gas reserves; aiming for economic diversification and poverty alleviation; still in recovery from the CEMAC crisis; enhancing public financial management; ongoing poverty challenges; significantly impacted by COVID-19
Unemployment rate
Unemployment rate 2022
8.5% (2022 est.)
Unemployment rate 2023
8.4% (2023 est.)
Unemployment rate 2024
7.9% (2024 est.)
Exports - partners
China 27%, Netherlands 12%, Spain 10%, Italy 7%, Germany 6% (2023)
Imports - partners
China 20%, Spain 17%, USA 10%, Gabon 5%, UK 5% (2023)
Real GDP per capita
Real GDP per capita 2022
$16,900 (2022 est.)
Real GDP per capita 2023
$15,700 (2023 est.)
Real GDP per capita 2024
$15,500 (2024 est.)
Real GDP growth rate
Real GDP growth rate 2022
3.2% (2022 est.)
Real GDP growth rate 2023
-5.1% (2023 est.)
Real GDP growth rate 2024
0.9% (2024 est.)
Agricultural products
sweet potatoes, cassava, plantains, oil palm fruit, root vegetables, bananas, coconuts, coffee, cocoa beans, chicken (2023)
Exports - commodities
crude petroleum, natural gas, alcohols, wood, scrap iron (2023)
Imports - commodities
ships, poultry, plastic products, beer, valves (2023)
Taxes and other revenues
6.6% (of GDP) (2022 est.)
GDP (official exchange rate)
$12.766 billion (2024 est.)
GDP - composition, by end use
household consumption
52.9% (2024 est.)
government consumption
28.3% (2024 est.)
investment in inventories
-0.1% (2024 est.)
investment in fixed capital
9.1% (2024 est.)
exports of goods and services
35.2% (2024 est.)
imports of goods and services
-25.4% (2024 est.)
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2020
4.8% (2020 est.)
Inflation rate (consumer prices) 2021
-0.1% (2021 est.)
Inflation rate (consumer prices) 2022
4.8% (2022 est.)
Industrial production growth rate
0.8% (2024 est.)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022
$30.539 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$28.985 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$29.248 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
13.9% (2024 est.)
total
14.7% (2024 est.)
female
15.7% (2024 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 2022
$1.458 billion (2022 est.)
Reserves of foreign exchange and gold 2023
$1.538 billion (2023 est.)
GDP - composition, by sector of origin
industry
45.8% (2024 est.)
services
51.1% (2024 est.)
agriculture
3.1% (2024 est.)
Household income or consumption by percentage share
lowest 10%
2.6% (2022 est.)
highest 10%
29.1% (2022 est.)
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2022
38.5 (2022 est.)