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| EQUATORIAL GUINEAN ECONOMY STATS: |
| Top Stats |
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Agriculture > products
coffee, cocoa, rice, yams, cassava, bananas, palm oil nuts; livestock; timber |
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Aid as % of GDP
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1.6% |
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[72nd of 129]
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Current account balance
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$415,000,000.00 |
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[56th of 181]
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Debt > External
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$338,000,000.00 |
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[132nd of 136]
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Economic freedom
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1.4 |
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[132nd of 156]
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Economy > Overview
The discovery and exploitation of large oil reserves have contributed to dramatic economic growth in recent years. Forestry, farming, and fishing are also major components of GDP. Subsistence farming predominates. 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. No longer eligible for concessional financing because of large oil revenues, the government has been trying to agree on a "shadow" fiscal management program with the World Bank and IMF. Government officials and their family members own most businesses. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Growth remained strong in 2007, led by oil. |
Exchange rates
Communaute Financiere Africaine francs (XAF) per US dollar - 528.29 (2004), 581.2 (2003), 696.99 (2002), 733.04 (2001), 711.98 (2000) |
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Exports
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$9,904,000,000.00 |
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[79th of 189]
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Exports to US
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$126,700,000.00 |
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[83rd of 224]
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GDP
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$8,562,842,000.00 |
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[104th of 203]
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GDP (purchasing power parity)
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$15,540,000,000.00 |
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[129th of 187]
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GDP > Real growth rate
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12.4% |
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[6th of 198]
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GDP growth > annual %
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9.98 annual %
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[16th of 187]
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GDP per capita, PPP > current international $
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7,643.13 PPP $
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[66th of 169]
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Gross National Income
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$327,055,000.00 |
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[157th of 172]
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Gross national income > constant LCU
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127738400000 |
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Human Development Index
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0.655 |
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[122nd of 178]
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Inflation rate (consumer prices)
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6% |
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[79th of 192]
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Public debt
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1.6 % of GDP |
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[121st of 121]
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Total reserves minus gold > current US$
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2,102,495,000 $
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[83rd of 178]
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... View all Economy stats
SOURCES: CIA World Factbook, 28 July 2005; calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; All CIA World Factbooks 18 December 2003 to 18 December 2008; The Heritage Foundation; US Census Bureau; World Development Indicators database and CIA World Factbook; World Development Indicators database; ; Human Development Report 2006, United Nations Development Programme
ALTERNATIVE NAMES:
Equatorial Guinea, Republic of Equatorial Guinea, Republica de Guinea Ecuatorial, Guinea Ecuatorial
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