Equatorial Guinea

National Flag

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 28.1 thousands square kilometers and the population is about 1.5 million in 2021. 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 natural gas and proven crude oil reserves of 300 billion cubic meters and 5.6 barrels respectively. 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. In 2021, the daily production capacity of crude oil was around 100 thousand barrels, mainly explored by USA and UK companies. Rich in forest and fishery resources, the forest area is 2.2 million hectares with 46% forest coverage rate and the maritime exclusive economic zone is 312 thousands square kilometers. Tuna, African yellow croaker and prawns are rich, with an annual catch of 70,000 to 100,000 tons.

The “2022 World Investment Report” published by the United Nations Conference on Trade and Development (UNCTAD), pointed out that by the end of 2021, Equatorial Guinea has attracted US$15.6 billion on stock of inward direct investment. According to the “2021 Statistical Bulletin of China’s Outward Foreign Direct Investment”, by the end of 2021, the stock of direct investment of China in Equatorial Guinea was US$280 million.

Trade in Goods

In 2021, Equatorial Guinea’s main export destinations are China, India, Spain and Korea. Its main export goods are mainly crude oil, organic chemicals, and wooden products. The main import origins include Spain, China, the United States, and the United Kingdom. The main imported goods include vessels, machines, and beverages.

In 2022, China’s exports to Equatorial Guinea amounted to US$230 million, mainly include non-navigating vessels, liquefied gas carrier, ground tile; goods imported from Equatorial Guinea amounted to US$1.5 billion, mainly include crude oil, liquefied natural gas.

2020(a)

2021(a)

2022(b)

2023(b)

Population (million)

1.4

1.5

1.5

1.5

GDP (US$ million)

10,099

12,269

16,877

15,576

Real GDP Growth Rate (%)

-4.2

-3.2

5.8

-3.1

Total Export of Goods

(US$ million)

2,825.0

4,693.9

4,291.6

3,331.7

Total Import of Goods

(US$ million)

887.0

814.5

635.0

563.9

Total Export of Services (US$ million)

529(c)

554(c)

–

–

Total Import of Services (US$ million)

1,262(c)

1,812(c)

–

–

Consumer Price Index (%)

4.8

-0.1

5.1

5.7

Current Account Balance (US$ million)

-419

-420

-269

-327

Exchange Rate (Central African Franc CFA: USD, Period Average)

575.6

554.5

623.8

662.6

Main Export Destinations (2021)

Proportion of Total Value of Exports Goods (%)

China

24.1

India

17.1

Spain

16.0

Korea

7.3

Others

35.5

Main Import Origins (2021)

Proportion of Total Value of Imports Goods (%)

Spain

24.7

China

15.9

United States

6.6

United Kingdom

5.6

Others

47.2

Major Exports of Goods (2021)

Proportion of Total Value of Exports of Goods (%)

Fossil fuels, mineral oil and its distilled products; bituminous substances; mineral wax

89.9

Organic chemicals

7.5

Wood and articles of wood; wood charcoal

2.0

Others

0.6

Major Imports of Goods (2021)

Proportion of Total Value of Imports of Goods (%)

Vessels and other floating structures for breaking up

23.6

Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof

11.2

Beverages, spirits and vinegar

7.0

Meat and edible meat offal

5.9

Others

52.3

Main Exports of Services (2021)

Proportion of Total Value Exports of Services (%)

Transport

6.6

Government goods and services n.i.e.

6.2

Telecommunication, computer and information services

1.2

Other

86.0

Main Import of Services (2021)

Proportion of Total Value Imports of Services (%)

Transport

52.6

Construction

11.2

Insurance and pension services

10.6

Other

25.6

Year

Total Trade

Total Exports value*

Total Imports value**

2022

1,747,111

230,727

1,516,384

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