1014999
Spanish (official) 67.6%, other (includes French (official), Fang, Bubi) 32.4% (1994 census)
MALABO (capital) 145,000 (2014)
- Conventional long form
- Republic of Equatorial Guinea
- Conventional short form
- Equatorial Guinea
- Local long form
- Republica de Guinea Ecuatorial/Republique de Guinee Equatoriale
- Local short form
- Guinea Ecuatorial/Guinee Equatoriale
presidential republic
- Name
- Malabo
- Geographic coordinates
- 3 45 N, 8 47 E
- Time difference
- UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt
Exploitation of oil and gas deposits, beginning in the 1990s, has driven economic growth in Equatorial Guinea; a recent rebasing of GDP resulted in an upward revision of the size of the economy by approximately 30%. 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 limited improvements in the general population’s living conditions. Equatorial Guinea’s real GDP growth has been weak in recent years, averaging -0.5% per year from 2010 to 2014, because of a declining hydrocarbon sector. Inflation remained very low in 2016, down from an average of 4% in 2014.
- Inflation
- 1.668%
- Total tax rate (% of commercial profits)
- 79.4%
- Real Interest Rate
- 11.61%
- Manufacturing, value added (% of GDP)
- 12.3%
- Current Account Balance
- US$ -344,039,026
- Labor Force, Total
- 627,641
- Employment in Agriculture
- 76.35%
- Employment in Industry
- 4.76%
- Employment in Services
- 17.61%
- Unemployment Rate
- 7.33%
- Imports of goods and services
- US$ 4,511,747,055
- Exports of goods and services
- US$ 5,609,325,470
- Total Merchandise Trade
- 74.66%
- FDI, net inflows
- US$ 316,172,119
- Commercial Service Exports
- US$ 4,879,265
coffee, cocoa, rice, yams, cassava (manioc, tapioca), bananas, palm oil nuts; livestock; timber
petroleum, natural gas, sawmilling
- Commodities
- petroleum products, timber
- Partners
- China 17.2%, South Korea 15.6%, Spain 9.4%, Brazil 8.5%, Netherlands 7.1%, India 6.2%, UK 6%, France 5.9%, Italy 4% (2015)
- Commodities
- petroleum sector equipment, other equipment, construction materials, vehicles
- Partners
- Netherlands 17%, Spain 16.5%, China 15%, US 9%, Cote dIvoire 6%, France 4.8% (2015)