Equatorial Guinea

Country Summary

2023 population pyramid

Introduction

Background

Equatorial Guinea gained independence in 1968 after 190 years of Spanish rule. It is one of the smallest countries in Africa consisting of a mainland territory and five inhabited islands. Major oil reserves were discovered offshore in the late 1990s, but systemic corruption has hindered economic development.

Geography

Area

total: 28,051 sq km
land: 28,051 sq km
water: 0 sq km

Climate

tropical; always hot, humid

Natural resources

petroleum, natural gas, timber, gold, bauxite, diamonds, tantalum, sand and gravel, clay

People and Society

Population

total: 1,795,834
male: 962,385
female: 833,449 (2024 est.)

Ethnic groups

Fang 78.1%, Bubi 9.4%, Ndowe 2.8%, Nanguedambo 2.7%, Bisio 0.9%, foreigner 5.3%, other 0.7%, unspecified 0.2% (2011 est.)

Languages

Spanish (official) 67.6%, other (includes Fang, Bubi, Portuguese (official), French (official), Fa d'Ambo spoken in Annobon) 32.4% (1994 est.)

Religions

Roman Catholic 88%, Protestant 5%, Muslim 2%, other 5% (animist, Baha'i, Jewish) (2015 est.)

Population growth rate

3.23% (2024 est.)

Government

Government type

presidential republic

Capital

name: Malabo; note - Malabo is on the island of Bioko; some months of the year, the government operates out of Bata on the mainland region.

Executive branch

chief of state: President OBIANG Nguema Mbasogo (since 3 August 1979 when he seized power in a military coup); First Vice President Teodoro Nguema OBIANG Mangue (since 20 November 2022)
head of government: Prime Minister Manuela ROKA Botey (since 1 February 2023); First Deputy Prime Minister Clemente Engonga NGUEMA Onguene (since 23 June 2016); Second Deputy Prime Minister Angel MESIE Mibuy (since 5 February 2018); Third Deputy Prime Minister Alfonso Nsue MOKUY (since 23 June 2016)

Legislative branch

description: bicameral National Assembly or Asemblea Nacional consists of:
Senate or Senado (70 seats statutory, 74 seats for current term; 55 members directly elected in multi-seat constituencies by closed party-list proportional representation vote, 15 appointed by the president, and 4 ex-officio)

Chamber of Deputies or Camara de los Diputados (100 seats; members directly elected in multi-seat constituencies by closed party-list proportional representation vote to serve 5-year terms)

Economy

Economic overview

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

Real GDP (purchasing power parity)

$24.987 billion (2022 est.)
$24.077 billion (2021 est.)
$24.013 billion (2020 est.)

Real GDP per capita

$14,900 (2022 est.)
$14,700 (2021 est.)
$15,000 (2020 est.)

Agricultural products

sweet potatoes, cassava, plantains, oil palm fruit, root vegetables, bananas, coconuts, coffee, cocoa beans, chicken (2022)

Industries

petroleum, natural gas, sawmilling

Exports

$6.231 billion (2022 est.)
$5.851 billion (2021 est.)
$4.041 billion (2020 est.)

Exports - partners

Zambia 21%, Spain 15%, China 15%, India 10%, Italy 6% (2022)

Exports - commodities

crude petroleum, natural gas, fertilizers, packaged medicine, cars (2022)

Imports

$4.297 billion (2022 est.)
$4.351 billion (2021 est.)
$3.669 billion (2020 est.)

Imports - partners

Zambia 38%, China 14%, Spain 10%, Nigeria 7%, US 4% (2022)

Imports - commodities

ships, refined copper, iron alloys, raw copper, poultry (2022)

Exchange rates

Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
Exchange rates:
623.76 (2022 est.)
554.531 (2021 est.)
575.586 (2020 est.)
585.911 (2019 est.)
555.446 (2018 est.)


Page last updated: Wednesday, May 22, 2024