Overview: The economy, destroyed during the regime of former President Masie Nguema, is now based on agriculture, forestry, and fishing, which accounts for about 60% of GDP and nearly all exports. Subsistence agriculture predominates, with coca, coffee, and wood products providing income, foreign exchange, and government revenues. There is little industry. Commerce accounts for about 10% of GDP, and the construction, public works, and service sectors for about 34%. Undeveloped natural resources include titanium, iron ore, manganese, uranium and alluvial gold. Oil exploration is taking place under concessions offered to US, French, and Spanish firms.

GNP: $75 million, per capita $300, real growth rate NA% (1986)

Inflation rate (consumer prices): - 12% (1987)

Unemployment rate: NA%

Budget: revenues $23.5 million; expenditures $25 million, including capital expenditures of $8 million (1987)

Exports: $39 million (f.o.b., 1986); @m5commodities--coffee, timber, cocoa beans; partners--Spain 39%, Netherlands 36%, FRG 11%, Italy 1% (1985)

Imports: $41 million (c.i.f., 1986); @m5commodities--petroleum, food, beverages, clothing, machinery; @m5partners--Spain 35%, Gabon 15%, Cameroon 8%, US 5%, France 4% (1985)

External debt: $189 million (December 1988)

Industrial production: growth rate NA%

Electricity: 10,000 kW capacity; 17 million kWh produced, 50 kWh per capita (1988)

Industries: fishing, sawmilling

Agriculture: cash crops--timber and coffee from Rio Muni, cocoa from Bioko; food crops--rice, yams, cassava, bananas, oil palm nuts, manioc, livestock

Aid: NA

Currency: Communaute Financiere Africaine franc (plural--francs); 1 CFA franc (CFAF) = 100 centimes

Exchange rates: Communaute Financiere Africaine francs (CFAF) per US$1--312.52 (January 1989), 297.85 (1988), 300.54 (1987), 346.30 (1986), 449.26 (1985)

Fiscal year: 1 April-31 March

NOTE: The information regarding Equatorial Guinea on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Equatorial Guinea Economy 1989 information contained here. All suggestions for corrections of any errors about Equatorial Guinea Economy 1989 should be addressed to the CIA.