The CIA World Factbook Every edition, 1990 to 2025 Africa
Economic overview Equatorial Guinea, in 36 editions.
The entry for Equatorial Guinea published Economic overview in 36 editions of 36, from 1990 to 2025. The text changed in 30 editions. Each is shown as published. Economic overview in every entry.
- editions changed the text
- 30
- the first edition with it
- 1990
- the latest edition with it
- 2025
Published as “Overview” (1990 to 1995), “Economic overview” (1996 to 2025), “Economy - overview” (1997 to 2019), “Economy-overview” (1998) and “Economy--overview” (1999).
field in that editiontext changed from the edition beforenot in that editionthe edition shownChoose an edition on the strip beside the text, or step through them with the arrows. Mark changes compares it with the edition before: the marks are ours, words added and words removed.
2025 edition
Same as 2024Published as “Overview”
The economy, destroyed during the regime of former President Macias Nguema, is now based on agriculture, forestry, and fishing, which account for about 60% of GNP and nearly all exports. Subsistence agriculture predominates, with cocoa, coffee, and wood products providing income, foreign exchange, and government revenues. There is little industry. Commerce accounts for about 10% of GNP, 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.
The economy, destroyed during the regime of former President Macias Nguema, is now based on agriculture, forestry, and fishing, which account for about 60% of GNP and nearly all exports. Subsistence agriculture predominates, with cocoa, coffee, and wood products providing income, foreign exchange, and government revenues. There is little industry. Commerce accounts for about 10% of GNP, 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.
Published as “Overview”
The economy, destroyed during the regime of former President Macias Nguema, is now based on agriculture, forestry, and fishing, which account for about 60% of GNP and nearly all exports. Subsistence agriculture predominates, with cocoa, coffee, and wood products providing income, foreign exchange, and government revenues. There is little industry. Commerce accounts for about 10% of GNP, 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, taking place under concessions offered to US, French, and Spanish firms, has been moderately successful, and some revenues from oil exports will begin rolling in by mid-1991.
The economy, destroyed during the regime of former President Macias Nguema, is now based on agriculture, forestry, and fishing, which account for about 60% of GNP and nearly all exports. Subsistence agriculture predominates, with cocoa, coffee, and wood products providing income, foreign exchange, and government revenues. There is little industry. Commerce accounts for about 10% of GNP, 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 exploration, taking place under concessions offered to US, French, and Spanish firms. firms, has been moderately successful, and some revenues from oil exports will begin rolling in by mid-1991.
Published as “Overview”
The economy, destroyed during the regime of former President Macias NGUEMA, is now based on agriculture, forestry, and fishing, which account for about half of GDP and nearly all exports. Subsistence agriculture predominates, with cocoa, coffee, and wood products providing income, foreign exchange, and government revenues. There is little industry. Commerce accounts for about 8% of GDP and the construction, public works, and service sectors for about 38%. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Oil exploration, taking place under concessions offered to US, French, and Spanish firms, has been moderately successful.
The economy, destroyed during the regime of former President Macias Nguema, NGUEMA,
is now based on agriculture, forestry, and fishing, which account for about 60%
half of GNP GDP and nearly all exports. Subsistence agriculture predominates,
with cocoa, coffee, and wood products providing income, foreign exchange,
and government revenues. There is little industry. Commerce accounts for
about 10% 8% of GNP, GDP and the construction, public works, and service sectors for
about 34%. 38%. Undeveloped natural resources include titanium, iron ore,
manganese, uranium, and alluvial gold. Oil exploration, taking place under
concessions offered to US, French, and Spanish firms, has been moderately successful, and some revenues from oil exports will begin rolling in by mid-1991.
successful.
Published as “Overview”
The economy, devastated during the regime of former President Macias NGUEMA, is based on agriculture, forestry, and fishing, which account for about half of GDP and nearly all exports. Subsistence agriculture predominates, with cocoa, coffee, and wood products providing income, foreign exchange, and government revenues. There is little industry. Commerce accounts for about 8% of GDP and the construction, public works, and service sectors for about 38%. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold.
Oil exploration, taking place under concessions offered to US, French, and Spanish firms, has been moderately successful. Increased production from recently discovered natural gas deposits will provide a greater share of exports by 1995.
The economy, destroyed devastated during the regime of former President Macias NGUEMA,
is now based on agriculture, forestry, and fishing, which account for about
of GDP and nearly all exports. Subsistence agriculture predominates,
cocoa, coffee, and wood products providing income, foreign exchange,
government revenues. There is little industry. Commerce accounts for
8% of GDP and the construction, public works, and service sectors for
38%. Undeveloped natural resources include titanium, iron ore,
uranium, and alluvial gold. Oil exploration, taking place under
offered to US, French, and Spanish firms, has been moderately
Increased production from recently discovered natural gas deposits will
provide a greater share of exports by 1995.
Published as “Overview”
Agriculture, forestry, and fishing account for about half of GDP and nearly all exports. Subsistence farming predominates. Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the deterioration of the rural economy under successive brutal regimes has diminished potential for agriculture-led growth. A number of AID programs sponsored by the World Bank and the international donor community have failed to revitalize export agriculture.
There is little industry; businesses for the most part are owned by government officials and their family members. Commerce accounts for about 8% of GDP and the construction, public works, and service sectors for about 38%. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Oil exploration, taking place under concessions offered to US, French, and Spanish firms, has been moderately successful. Increased production from recently discovered natural gas fields will provide a greater share of exports by 1995.
The economy, devastated during the regime of former President Macias NGUEMA, Agriculture, forestry, and
is based on agriculture,fishing, which fishing account for about half
nearly all exports. Subsistence agriculture predominates, with farming predominates. Althoughcocoa, coffee, and wood products providing income, foreign exchange, pre-independence Equatorial Guinea counted on cocoa production for
hard currency earnings, the deterioration of the rural economy under
successive brutal regimes has diminished potential for agriculture-led
growth. A number of AID programs sponsored by the World Bank and thegovernment revenues. international donor community have failed to revitalize export
agriculture. There is little industry. industry; businesses for the most part
are owned by government officials and their family members. Commerce
accounts for about
service sectors for about
titanium, iron ore, manganese,
exploration, taking place under concessions
Spanish firms, has been moderately successful.
from recently discovered natural gas deposits fields will
share of exports by 1995.
Published as “Overview”
Agriculture, forestry, and fishing account for about half of GDP and nearly all exports. Subsistence farming predominates. Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the deterioration of the rural economy under successive brutal regimes has diminished potential for agriculture-led growth. A number of aid programs sponsored by the World Bank and the international donor community have failed to revitalize export agriculture.
Businesses for the most part are owned by government officials and their family members. Commerce accounts for about 8% of GDP and the construction, public works, and service sectors for about 38%. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Oil exploration, taking place under concessions offered to US, French, and Spanish firms, has been moderately successful. Increased production from recently discovered natural gas fields will provide a greater share of exports in 1995.
Agriculture, forestry, and fishing account for about half of
GDP and
pre-independence Equatorial Guinea counted on cocoa production for
hard currency earnings, the deterioration of the rural economy under
successive brutal regimes has diminished potential for agriculture-led
growth. A number of AID aid programs sponsored by the World Bank and the
international donor community have failed to revitalize export
agriculture. There is little industry; businesses Businesses for the most part
officials and their family members. Commerce
GDP and the construction, public works, and
38%. Undeveloped natural resources include
manganese, uranium, and alluvial gold. Oil
under concessions offered to US, French, and
moderately successful. Increased production
natural gas fields will provide a greaterby in 1995.
Agriculture, forestry, and fishing account for about half of GDP and nearly all exports. Subsistence farming predominates. Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the deterioration of the rural economy under successive brutal regimes has diminished potential for agriculture-led growth. A number of aid programs sponsored by the World Bank and the IMF have been cut off since 1993 because of the government's gross corruption and mismanagement.
Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Oil exploration, taking place under concessions offered to US, French, and Spanish firms, has been moderately successful. In 1995, exports responded to the devaluation of 12 January 1994, apparently resulting in a sizable surplus and strong GDP growth. Increased production from recently discovered oil and natural gas fields will provide a greater share of exports in 1996-97.
Agriculture, forestry, and fishing account for
about half of
predominates. Although
cocoa production for
the rural economy under
potential for agriculture-led
sponsored by the World Bank and the
international donor communityfailed to revitalize export been cut off since 1993agriculture. Businesses because of the government's gross corruption and mismanagement.
Businesses, for the most part part, are owned by government
their family members. Commerce accounts for about 8% of Undeveloped natural resources include
GDP and the construction, public works, and service sectors for about
38%.
titanium, iron ore,
exploration, taking place
and Spanish firms, has been
responded to the devaluation of 12 January 1994, apparently
resulting in a sizable surplus and strong GDP growth. Increased
production from recently discovered
provide a greater share of exports in 1995. 1996-97.
Published as “Economy - overview”
Farming, forestry, and fishing account for about half of GDP. Subsistence farming predominates. Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the deterioration of the rural economy under successive brutal regimes has diminished potential for agriculture-led growth. A number of aid programs sponsored by the World Bank and the IMF have been cut off since 1993 because of the government's gross corruption and mismanagement.
Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Oil exploration, taking place under concessions offered to US, French, and Spanish firms, has been moderately successful and has contributed to Equatorial Guinea's strong growth rates in the early 1990s. The country responded favorably to the devaluation of the CFA franc in January 1994.
Agriculture, Farming, forestry, and fishing account for
half of GDP and nearly all exports. GDP. Subsistence farming
pre-independence Equatorial Guinea counted on
hard currency earnings, the deterioration of
successive brutal regimes has diminished
growth. A number of aid programs
IMF have been cut off since 1993
corruption and mismanagement.
by government officials and
resources include
gold. OilFrench,
French, and Spanish firms, has been moderately successful. In 1995, exports successful and has
contributed to Equatorial Guinea's strong growth rates in the early
1990s. The country responded favorably to the devaluation of 12 January 1994, apparently the CFA
resulting in a sizable surplus and strong GDP growth. Increased
production from recently discovered oil and natural gas fields willprovide a greater share of exports franc in 1996-97. January 1994.
Published as “Economy-overview”
The discovery and exploitation of large oil reserves have contributed to dramatic economic growth in recent years. Farming, forestry, 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 deterioration of the rural economy under successive brutal regimes has diminished potential for agriculture-led growth.
A number of aid programs sponsored by the World Bank and the IMF have been cut off since 1993 because of the government's gross corruption and mismanagement. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. The country responded favorably to the devaluation of the CFA franc in January 1994.
The discovery and exploitation of large oil reserves
have contributed to dramatic economic growth in recent years. Farming,
forestry, and fishing account for about are also major components of GDP. Subsistence
half
farming predominates. Although
counted on cocoa production for
deterioration of the rural economy under
diminished potential for agriculture-led
programs sponsored by the World Bank and the
since 1993 because of the government's gross
mismanagement. Businesses, for the most part, are owned
officials and their family members. Undeveloped natural
include titanium, iron ore, manganese, uranium, and alluvialOil exploration, taking place under concessions offered to US, The
French, and Spanish firms, has been moderately successful and has
contributed to Equatorial Guinea's strong growth rates in the early
1990s.
country responded favorably to the devaluation of the CFA
January 1994.
Published as “Economy--overview”
The discovery and exploitation of large oil reserves have contributed to dramatic economic growth in recent years. Several large oil companies are expected to bid on oil licenses by May 1999. 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 deterioration of the rural economy under successive brutal regimes has diminished potential for agriculture-led growth.
A number of aid programs sponsored by the World Bank and the IMF have been cut off since 1993 because of the government's gross corruption and mismanagement. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. The country responded favorably to the devaluation of the CFA franc in January 1994.
The discovery and exploitation of large oil reserves
reserves have contributed to dramatic economic growth in recent
years. Farming, Several large oil companies are expected to bid on oilforestry, licenses by May 1999. Forestry, farming, and fishing are also major
components of GDP. Subsistence
pre-independence Equatorial Guinea
hard currency earnings, the
successive brutal regimes has
agriculture-led growth. A number of aid
World Bank and the IMF have been cut off
government's gross corruption and
most part, are owned by government
members. Undeveloped natural resources
manganese, uranium, and alluvial gold. The
favorably to the devaluation of the CFA franc in
Published as “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 deterioration of the rural economy under successive brutal regimes has diminished potential for agriculture-led growth.
A number of aid programs sponsored by the World Bank and the IMF have been cut off since 1993 because of the government's gross corruption and mismanagement. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. The country responded favorably to the devaluation of the CFA franc in January 1994. Boosts in production, along with high world oil prices, should further stimulate growth in 2000-2001.
The discovery and exploitation of large oilSeveral large oil companies are expected to bid on oil Forestry, farming, and fishing are also major
licenses by May 1999.
Published as “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 deterioration of the rural economy under successive brutal regimes has diminished potential for agriculture-led growth.
A number of aid programs sponsored by the World Bank and the IMF have been cut off since 1993 because of the government's gross corruption and mismanagement. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. The country responded favorably to the devaluation of the CFA franc in January 1994. Boosts in production and high world oil prices stimulated growth in 2000, with oil accounting for 90% of greatly increased exports.
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 deterioration of the rural economy under successive brutal regimes has diminished potential for agriculture-led growth. A number of aid programs sponsored by the World Bank and the IMF have been cut off since 1993 because of the government's gross corruption and mismanagement. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. The country responded favorably to the devaluation of the CFA franc in January 1994. Boosts in production, along with production and high world oil prices, should further stimulate prices stimulated growth in 2000-2001. 2000, with oil accounting for 90% of greatly increased exports.
Published as “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 unsuccessfully trying to agree on a "shadow" fiscal management program with the World Bank and IMF. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Boosts in production and higher world oil prices stimulated growth in 2002, with oil accounting for 90% of increased exports.
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 deterioration neglect of the rural economy under successive brutal regimes has diminished potential for agriculture-led growth. 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 the government's gross corruption and mismanagement. No longer eligible for concessional financing because of large oil revenues, the government has been unsuccessfully trying to agree on a "shadow" fiscal management program with the World Bank and IMF. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. The country responded favorably to the devaluation of the CFA franc in January 1994. Boosts in production and high higher world oil prices stimulated growth in 2000, 2002, with oil accounting for 90% of greatly increased exports.
Published as “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 unsuccessfully trying to agree on a "shadow" fiscal management program with the World Bank and IMF. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Growth will remain strong in 2003, led by oil.
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 unsuccessfully trying to agree on a "shadow" fiscal management program with the World Bank and IMF. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Boosts in production and higher world oil prices stimulated growth Growth will remain strong in 2002, with oil accounting for 90% of increased exports. 2003, led by oil.
Published as “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 unsuccessfully trying to agree on a "shadow" fiscal management program with the World Bank and IMF. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Growth will remain strong in 2004, led by oil.
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 unsuccessfully trying to agree on a "shadow" fiscal management program with the World Bank and IMF. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Growth will remain strong in 2003, 2004, led by oil.
Published as “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 unsuccessfully trying to agree on a "shadow" fiscal management program with the World Bank and IMF. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Growth presumably remained strong in 2004, led by oil.
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 unsuccessfully trying to agree on a "shadow" fiscal management program with the World Bank and IMF. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Growth will remain presumably remained strong in 2004, led by oil.
Published as “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. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Growth remained strong in 2005, led by oil. Equatorial Guinea now has the second highest per capita income in the world, after Luxembourg.
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 1993, because of corruption and mismanagement. No longer eligible for concessional financing because of large oil revenues, the government has been unsuccessfully trying to agree on a "shadow" fiscal management program with the World Bank and IMF. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Growth presumably remained strong in 2004, 2005, led by oil. Equatorial Guinea now has the second highest per capita income in the world, after Luxembourg.
Published as “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 2006, led by oil. Equatorial Guinea now has the fourth highest per capita income in the world, after Luxembourg, Bermuda, and Jersey.
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. Businesses, for the most part, are owned by government Government officials and their family members. members own most businesses. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Growth remained strong in 2005, 2006, led by oil. Equatorial Guinea now has the second fourth highest per capita income in the world, after Luxembourg. Luxembourg, Bermuda, and Jersey.
Published as “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.
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 2006, 2007, led by oil. Equatorial Guinea now has the fourth highest per capita income in the world, after Luxembourg, Bermuda, and Jersey.
Published as “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 2008, led by oil.
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, 2008, led by oil.
Published as “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.
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 predominates. 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, 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. 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. oil, but dropped in 2009-10, as the price of oil fell.
Published as “Economy - overview”
The discovery and exploitation of large oil and gas reserves have contributed to dramatic economic growth but fluctuating oil prices have produced huge swings in GDP growth in recent years. Forestry and farming are also minor 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.
The government has been widely criticized for its lack of transparency and misuse of oil revenues; however, in 2010, under Equatorial Guinea's candidacy in the Extractive Industries Transparency Initiative, the government published oil revenue figures for the first time. Undeveloped natural resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. Growth remained strong in 2008, when oil production peaked, but slowed in 2009-10, as the price of oil and the production level fell.
The discovery and exploitation of large oil and gas reserves have contributed to dramatic economic growth but fluctuating oil prices have produced huge swings in GDP growth in recent years. Forestry, farming, Forestry and fishing farming are also major minor 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 The government has been widely criticized for its lack of transparency and their family members own most businesses, but corruption is rampant. misuse of oil revenues; however, in 2010, under Equatorial Guinea's candidacy in the Extractive Industries Transparency Initiative, the government published oil revenue figures for the first time. Undeveloped natural resources include titanium, iron ore, manganese, uranium, gold, zinc, diamonds, columbite-tantalite, and alluvial gold. other base metals. Growth remained strong in 2008, led by oil, when oil production peaked, but dropped slowed in 2009-10, as the price of oil and the production level fell.
Published as “Economy - overview”
The discovery and exploitation of large oil and gas reserves have contributed to dramatic economic growth, but fluctuating oil prices have produced huge swings in GDP growth in recent years. Forestry and farming are also minor 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.
The government has been widely criticized for its lack of transparency and misuse of oil revenues; however, in 2010, under Equatorial Guinea's candidacy in the Extractive Industries Transparency Initiative, the government published oil revenue figures for the first time. Undeveloped natural resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. The economy recovered from the global recession in 2011-12 stimulated by higher oil prices and large investments in public infrastructure and hotels.
The discovery and exploitation of large oil and gas reserves have contributed to dramatic economic growth growth, but fluctuating oil prices have produced huge swings in GDP growth in recent years. Forestry and farming are also minor 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. The government has been widely criticized for its lack of transparency and misuse of oil revenues; however, in 2010, under Equatorial Guinea's candidacy in the Extractive Industries Transparency Initiative, the government published oil revenue figures for the first time. Undeveloped natural resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. Growth remained strong The economy recovered from the global recession in 2008, when 2011-12 stimulated by higher oil production peaked, but slowed prices and large investments in 2009-10, as the price of oil public infrastructure and the production level fell. hotels.
Published as “Economy - overview”
The discovery and exploitation of large oil and gas reserves have contributed to dramatic economic growth, but fluctuating oil prices have produced huge swings in GDP growth in recent years. The economy is still dominated by hydrocarbon production. The government has solicited foreign investment, particularly from the United States, to diversify the economy. Undeveloped natural resources include gold, zinc, diamonds, columbite-tantalite, and other base metals.
Forestry and farming are also minor components of GDP. Subsistence farming is the dominant 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.
The government has been widely criticized for its lack of transparency and misuse of oil revenues. The government has made efforts to address this issue working towards compliance with the Extractive Industries Transparency Initiative in 2010. The economy recovered from the global recession in 2011-12 stimulated by higher oil prices and large investments in public infrastructure and hotels.
The discovery and exploitation of large oil and gas reserves have contributed to dramatic economic growth, but fluctuating oil prices have produced huge swings in GDP growth in recent years. The economy is still dominated by hydrocarbon production. The government has solicited foreign investment, particularly from the United States, to diversify the economy. Undeveloped natural resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. Forestry and farming are also minor components of GDP. Subsistence farming is the dominate dominant 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 growth. The government has stated its intention to reinvest some oil revenue into agriculture). 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. The government has been widely criticized for its lack of transparency and misuse of oil revenues; however, in 2010, under Equatorial Guinea's candidacy in revenues. The government has made efforts to address this issue working towards compliance with the Extractive Industries Transparency Initiative, the government published oil revenue figures for the first time. Undeveloped natural resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. Initiative in 2010. The economy recovered from the global recession in 2011-12 stimulated by higher oil prices and large investments in public infrastructure and hotels.
Published as “Economy - overview”
The discovery and exploitation of large oil and gas reserves have contributed to dramatic economic growth, but fluctuating oil prices along with slowing or declining oil production have resulted in much lower GDP growth in recent years. The economy is still dominated by hydrocarbon production. The government has solicited foreign investment, particularly from the United States, to diversify the economy and in February 2014 the government hosted an economic diversification symposium focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services.
Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. Forestry and farming are also minor components of GDP. Subsistence farming is the dominant 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. The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working towards compliance with the Extractive Industries Transparency Initiative.
The discovery and exploitation of large oil and gas reserves have contributed to dramatic economic growth, but fluctuating oil prices along with slowing or declining oil production have produced huge swings resulted in much lower GDP growth in recent years. The economy is still dominated by hydrocarbon production. The government has solicited foreign investment, particularly from the United States, to diversify the economy. economy and in February 2014 the government hosted an economic diversification symposium focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services. Undeveloped natural mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. Forestry and farming are also minor components of GDP. Subsistence farming is the dominant 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. The government has been widely criticized for its lack of transparency and misuse of oil revenues. The government revenues and has made efforts attempted to address this issue by working towards compliance with the Extractive Industries Transparency Initiative in 2010. The economy recovered from the global recession in 2011-12 stimulated by higher oil prices and large investments in public infrastructure and hotels. Initiative.
Published as “Economy - overview”
Exploitation of oil and gas deposits, beginning in the 1990’s, has driven economic growth in Equatorial Guinea, allowing per capita GDP to rise to over $29,000 in 2014. Declining revenue from hydrocarbon production, high levels of infrastructure expenditures, lack of economic diversification, and corruption have led to limited improvements in the general population’s living conditions. Equatorial Guinea hosted two economic diversification symposia in 2014 that focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services.
Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. Forestry and farming are also minor components of GDP. Subsistence farming is the dominant form of livelihood. Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the neglect of the rural economy since independence has diminished potential for agriculture-led growth. Foreign assistance programs by the World Bank and the IMF have been cut since 1993 because of corruption and mismanagement and high GDP figures now make Equatorial Guinea ineligible for most donor assistance.
The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working towards compliance with the Extractive Industries Transparency Initiative. US foreign assistance to Equatorial Guinea is limited in part because of US restrictions pursuant to the Trafficking Victims Protection Act.
The discovery and exploitation Exploitation of large oil and gas reserves have contributed to dramatic deposits, beginning in the 1990’s, has driven economic growth, but fluctuating oil prices along with slowing or declining oil production have resulted growth in much lower Equatorial Guinea, allowing per capita GDP growth to rise to over $29,000 in recent years. The economy is still dominated by hydrocarbon production. The government has solicited foreign investment, particularly 2014. Declining revenue from the United States, to diversify the economy hydrocarbon production, high levels of infrastructure expenditures, lack of economic diversification, and corruption have led to limited improvements in February 2014 the government general population’s living conditions. Equatorial Guinea hosted an two economic diversification symposium symposia in 2014 that focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services. Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. Forestry and farming are also minor components of GDP. Subsistence farming is the dominant 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 since independence has diminished potential for agriculture-led growth. The government has stated its intention to reinvest some oil revenue into agriculture. A number of aid Foreign assistance programs sponsored by the World Bank and the IMF have been cut off since 1993 because of corruption and mismanagement. mismanagement and high GDP figures now make Equatorial Guinea ineligible for most donor assistance. The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working towards compliance with the Extractive Industries Transparency Initiative. US foreign assistance to Equatorial Guinea is limited in part because of US restrictions pursuant to the Trafficking Victims Protection Act.
Published as “Economy - overview”
Exploitation of oil and gas deposits, beginning in the 1990s, has driven economic growth in Equatorial Guinea, allowing per capita GDP to rise to over $29,000 in 2014. 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 led to limited improvements in the general population’s living conditions.
Foreign assistance programs by the World Bank and the IMF have been cut since 1993 because of corruption and mismanagement, and as a middle income country Equatorial Guinea is now ineligible for most donor assistance. The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working towards compliance with the Extractive Industries Transparency Initiative. US foreign assistance to Equatorial Guinea is limited in part because of US restrictions pursuant to the Trafficking Victims Protection Act.
Equatorial Guinea hosted two economic diversification symposia in 2014 that focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services. Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals.
Exploitation of oil and gas deposits, beginning in the 1990’s, 1990s, has driven economic growth in Equatorial Guinea, allowing per capita GDP to rise to over $29,000 in 2014. Declining revenue from hydrocarbon production, high levels of infrastructure expenditures, lack of economic diversification, and corruption have led to limited improvements in the general population’s living conditions. Equatorial Guinea hosted two economic diversification symposia in 2014 that focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services. Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. Forestry and farming are also minor components of GDP. Subsistence farming is the dominant form of livelihood. Although pre-independence 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 led to limited improvements in the general population’s living conditions.
Foreign assistance programs by the World Bank and the IMF have been cut since 1993 because of corruption and mismanagement mismanagement, and high GDP figures now make as a middle income country Equatorial Guinea is now ineligible for most donor assistance. The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working towards compliance with the Extractive Industries Transparency Initiative. US foreign assistance to Equatorial Guinea is limited in part because of US restrictions pursuant to the Trafficking Victims Protection Act.
Equatorial Guinea hosted two economic diversification symposia in 2014 that focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services. Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals.
Published as “Economy - overview”
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.
Foreign assistance programs by the World Bank and the IMF have been cut since 1993 because of corruption and mismanagement, and as a middle income country Equatorial Guinea is now ineligible for most low-income donor funding. The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working toward compliance with the Extractive Industries Transparency Initiative. US foreign assistance to Equatorial Guinea is limited in part because of US restrictions pursuant to the Trafficking Victims Protection Act.
Equatorial Guinea hosted two economic diversification symposia in 2014 that focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services. Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals.
Exploitation of oil and gas deposits, beginning in the 1990s, has driven economic growth in Equatorial Guinea, allowing per capita Guinea; a recent rebasing of GDP to rise to over $29,000 resulted in 2014. 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 led to 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.
Foreign assistance programs by the World Bank and the IMF have been cut since 1993 because of corruption and mismanagement, and as a middle income country Equatorial Guinea is now ineligible for most low-income donor assistance. funding. The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working towards toward compliance with the Extractive Industries Transparency Initiative. US foreign assistance to Equatorial Guinea is limited in part because of US restrictions pursuant to the Trafficking Victims Protection Act.
Equatorial Guinea hosted two economic diversification symposia in 2014 that focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services. Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals.
The same text in 2018 and 2019.
Published as “Economy - overview”
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. As a middle income country, Equatorial Guinea is now ineligible for most low-income World Bank and the IMF funding. The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working toward compliance with the Extractive Industries Transparency Initiative. US foreign assistance to Equatorial Guinea is limited in part because of US restrictions pursuant to the Trafficking Victims Protection Act.
Equatorial Guinea hosted two economic diversification symposia in 2014 that focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services. Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. In 2017 Equatorial Guinea signed a preliminary agreement with Ghana to sell liquefied natural gas (LNG); as oil production wanes, the government believes LNG could provide a boost to revenues, but it will require large investments and long lead times to develop.
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.
Foreign assistance programs by the World Bank and the IMF have been cut since 1993 because of corruption and mismanagement, and ascountry country, Equatorial Guinea is now ineligible for most low-income donor World Bank and the IMF funding. The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working toward compliance with the Extractive Industries Transparency Initiative. US foreign assistance to Equatorial Guinea is limited in part because of US restrictions pursuant to the Trafficking Victims Protection Act.
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. As a middle income country, Equatorial Guinea is now ineligible for most low-income World Bank and the IMF funding. The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working toward compliance with the Extractive Industries Transparency Initiative. US foreign assistance to Equatorial Guinea is limited in part because of US restrictions pursuant to the Trafficking Victims Protection Act.
Equatorial Guinea hosted two economic diversification symposia in 2014 that focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services. Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. In 2017 Equatorial Guinea signed a preliminary agreement with Ghana to sell liquefied natural gas (LNG); as oil production wanes, the government believes LNG could provide a boost to revenues, but it will require large investments and long lead times to develop.
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. As a middle income country, Equatorial Guinea is now ineligible for most low-income World Bank and the IMF funding. The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working toward compliance with the Extractive Industries Transparency Initiative. US foreign assistance to Equatorial Guinea is limited in part because of US restrictions pursuant to the Trafficking Victims Protection Act. Equatorial Guinea hosted two economic diversification symposia in 2014 that focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services. Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. In 2017 Equatorial Guinea signed a preliminary agreement with Ghana to sell liquefied natural gas (LNG); as oil production wanes, the government believes LNG could provide a boost to revenues, but it will require large investments and long lead times to develop.
The same text in 2021 and 2022.
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.
As a middle income country, Equatorial Guinea is now ineligible for most low-income World Bank and the IMF funding. The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working toward compliance with the Extractive Industries Transparency Initiative. US foreign assistance to Equatorial Guinea is limited in part because of US restrictions pursuant to the Trafficking Victims Protection Act.
Equatorial Guinea hosted two economic diversification symposia in 2014 that focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services. Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. In 2017 Equatorial Guinea signed a preliminary agreement with Ghana to sell liquefied natural gas (LNG); as oil production wanes, the government believes LNG could provide a boost to revenues, but it will require large investments and long lead times to develop.
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.
As a middle income country, Equatorial Guinea is now ineligible for most low-income World Bank and the IMF funding. The government has been widely criticized for its lack of transparency and misuse of oil revenues and has attempted to address this issue by working toward compliance with the Extractive Industries Transparency Initiative. US foreign assistance to Equatorial Guinea is limited in part because of US restrictions pursuant to the Trafficking Victims Protection Act.
Equatorial Guinea hosted two economic diversification symposia in 2014 that focused on attracting investment in five sectors: agriculture and animal ranching, fishing, mining and petrochemicals, tourism, and financial services. Undeveloped mineral resources include gold, zinc, diamonds, columbite-tantalite, and other base metals. In 2017 Equatorial Guinea signed a preliminary agreement with Ghana to sell liquefied natural gas (LNG); as oil production wanes, the government believes LNG could provide a boost to revenues, but it will require large investments and long lead times to develop.
The same text in 3 editions, 2023 to 2025.
- growing CEMAC economy and new OPEC member;
- large oil and gas reserves;
- targeting economic diversification and poverty reduction;
- still recovering from CEMAC crisis;
- improving public financial management;
- persistent poverty;
- hard-hit by COVID-19
Rewritten: too little of the 2022 text remains to mark the changes.
growing CEMAC economy and new OPEC member; large oil and gas reserves; targeting economic diversification and poverty reduction; still recovering from CEMAC crisis; improving public financial management; persistent poverty; hard-hit by COVID-19
No edition has those words. Try a shorter word.
Cite this page
Central Intelligence Agency. “Equatorial Guinea: Economic overview.” The World Factbook, 1990–2025 editions. Archived by The Factbook, thefactbook.org/equatorial-guinea/economic-overview.