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Equatorial Guinea Economy 2011
https://theodora.com/wfb2011/equatorial_guinea/equatorial_guinea_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 12, 2011

Economy - overview:
The discovery and exploitation of large oil reserves have contributed to dramatic economic growth but fluctuating oil prices have produced huge swings in GDP growth in recent years. Forestry, farming, and fishing are also major 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. Government officials and their family members own most businesses, but corruption is rampant. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Growth remained strong in 2008, led by oil, but dropped in 2009-10, as the price of oil fell.

GDP (purchasing power parity):
$24.66 billion (2010 est.)
country comparison to the world: 113

$24.18 billion (2009 est.)
$22.96 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$14.55 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2% (2010 est.)
country comparison to the world: 152

5.3% (2009 est.)
11.3% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$37,900 (2010 est.)
country comparison to the world: 29

$38,200 (2009 est.)
$37,200 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 2.2%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 93.9%
[see also: GDP - composition by sector - industry country ranks ]
services: 3.8% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
195,200 NA
country comparison to the world: 170
[see also: Labor force country ranks ]

Unemployment rate:
30% (1998 est.)
country comparison to the world: 182
[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):
29.1% of GDP (2009 est.)
country comparison to the world: 20
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $6.739 billion
[see also: Budget - revenues country ranks ]
expenditures: $6.984 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
4.1% of GDP (2010 est.)
country comparison to the world: 130

5.4% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
8.2% (2010 est.)
country comparison to the world: 191

7.1% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2009)
country comparison to the world: 100

4.75% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
NA% (31 December 2009 est.)

NA% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.86 billion (31 December 2010 est)

$1.295 billion (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.207 billion (31 December 2010 est.)

$1.473 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.534 billion (31 December 2009)
country comparison to the world: 137

$3.579 billion (31 December 2008)
[see also: Stock of domestic credit country ranks ]

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

Industries:
petroleum, fishing, sawmilling, natural gas

Industrial production growth rate:
1.8% (2009 est.)
country comparison to the world: 134
[see also: Industrial production growth rate country ranks ]

Electricity - production:
28 million kWh (2007 est.)
country comparison to the world: 204
[see also: Electricity - production country ranks ]

Electricity - consumption:
26.04 million kWh (2007 est.)
country comparison to the world: 204
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
346,000 bbl/day (2009 est.)
country comparison to the world: 35
[see also: Oil - production country ranks ]

Oil - consumption:
1,000 bbl/day (2009 est.)
country comparison to the world: 201
[see also: Oil - consumption country ranks ]

Oil - exports:
362,900 bbl/day (2007 est.)
country comparison to the world: 35
[see also: Oil - exports country ranks ]

Oil - imports:
1,114 bbl/day (2007 est.)
country comparison to the world: 187
[see also: Oil - imports country ranks ]

Oil - proved reserves:
1.1 billion bbl (1 January 2010 est.)
country comparison to the world: 40
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
6.67 billion cu m (2008 est.)
country comparison to the world: 46
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
1.5 billion cu m (2008 est.)
country comparison to the world: 84
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
5.17 billion cu m (2008 est.)
country comparison to the world: 26
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 85
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
36.81 billion cu m (1 January 2010 est.)
country comparison to the world: 67
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$1.477 billion (2010 est.)
country comparison to the world: 151

-$1.883 billion (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$10.24 billion (2010 est.)
country comparison to the world: 85

$8.495 billion (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
petroleum, methanol, timber, cocoa

Exports - partners:
US 30.31%, China 12.54%, Japan 9.21%, Spain 7.5%, South Korea 7.01%, Taiwan 5.63%, Italy 5.38%, Netherlands 4.09% (2009)

Imports:
$5.743 billion (2010 est.)
country comparison to the world: 108

$5.258 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
petroleum sector equipment, other equipment

Imports - partners:
China 19.97%, US 17.28%, Spain 14.94%, France 9.49%, Cote d'Ivoire 6.34%, Italy 5.02% (2009)

Reserves of foreign exchange and gold:
$4.086 billion (31 December 2010 est.)
country comparison to the world: 72

$3.252 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$832 million (31 December 2010 est.)
country comparison to the world: 154

$766 million (31 December 2009 est.)
[see also: Debt - external country ranks ]

Exchange rates:
Cooperation Financiere en Afrique Centrale francs per US dollar - 506.04 (2010), 472.19 (2009), 447.81 (2008), 481.83 (2007), 522.4 (2006)


NOTE: The information regarding Equatorial Guinea on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Equatorial Guinea Economy 2011 information contained here. All suggestions for corrections of any errors about Equatorial Guinea Economy 2011 should be addressed to the CIA.



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This page was last modified 09-Feb-11
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