29/01/2023 - 20:00:13

Equatorial Guinea

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Map

Basic Information

Equatorial Guinea is located in the heart of Gulf of Guinea, in west-central Africa, bordered by the Atlantic Ocean to the west, the Cameroon to the north and the Gabon to the east and south. It has a land area of approximately 28,051.46 square kilometers and the population is about 1.4 million. The capital is Malabo and Bata city is the largest economic centre of the country.

Investment Situation

Equatorial Guinea has petroleum, natural gas, phosphate, gold, bauxite, zinc, diamond and other resources, with proven crude oil and natural gas reserves of 1.1 billion barrels and 36.8 billion cubic meters, respectively.

In 2020, the daily production capacity of crude oil was around 109,200 barrels and the daily production cpacity of liquefied natural gas was about 16,700 cubic meters, mainly explored by USA and UK companies.

Rich in forest and fishery resources, the forest area is 1.626 million hectares with 58% forest coverage rate and the maritime exclusive economic zone is 312,000 square kilometers.

Tuna, African yellow croaker and prawns are rich, with an annual catch of 70,000 to 100,000 tons.

Equatorial Guinea is the third largest oil producer in sub-Saharan Africa and crude oil has become a pillar industry of country’s economic and social development.

Trade in Goods

The main trade partners include China, Spain, Japan, Italy, USA, France, India, Netherlands and Canada.

The export goods are mainly crude oil, natural gas, processed products, timber, cocoa and coffee.

The main imported goods include crude oil processed products, petroleum production equipment and building materials, public facilities items, daily necessities, etc.

Equatorial Guinea adopts a free trade policy with no import quota restrictions and relies on almost imports of daily necessities and production materials.

Economic Indicators

Year	2020
Population	around 1.4 million
GDP （USD）	around 10 bilion
Real GDP growth rate (%)	-4.9%
Inflation rate	4.8%
Exchange rate (XAF: USD)	575.6 CFA franc ≈1USD

Main export and import goods destinations

Main export destinations (2020)	Proportion in total value (%)
China	37.2
Spain	13.2
Portugal	12.6
India	11.5
Others	25.5
Main import origins (2020)	Proportion in total value (%)
Nigeria	29.8
Spain	15.8
China	10.1
USA	7.8
Others	36.5

Major import and export goods

Major export goods (2020)	Proportion in total value (%)
Fossil fuels, mineral oil and distilled products thereof; bituminous substances; mineral wax	89.9
Organic Chemical Products	6.0
Timber and timber Products; Charcoal	2.8
Others	1.3
Major import goods (2020)	Proportion in total value (%)
Ships and floating structures	31.0
Machines and mechanical appliances, Nuclear reactors, boilers, parts thereof	11.1
Steels products	5.6
Others	52.3

Remarks: The above content is based on estimation of UNCTAD, WTO and ITC.

Statistics on the trade goods between Mainland China and Equatorial Guinea (thousands USD)

Year	Total trade	Total exports value*	Total imports value **
2021	1,336,938	123,993	1,212,945
2020	1,276,382	122,097	1,154,284
2019	1,836,279	113,215	1,723,064
2018	2,290,408	145,146	2,145,261
2017	1,615,449	165,462	1,449,987