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Economy of China vs Equatorial Guinea compared: GDP & Debt

Updated on by Georank team

China has a GDP of $18.7T compared to $12.8B for Equatorial Guinea, ranking 2/197 and 148/197 by economy size, respectively.

China has $16.6T in government debt (96.3% of GDP), compared to $4.62B (35.1% of GDP) in Equatorial Guinea.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

China
GDP, current $

GDP, constant 2015 $
Equatorial Guinea
GDP, current $

GDP, constant 2015 $
Year GDP
China Equatorial Guinea
Current $ Constant $ Current $ Constant $
1960 $59,846,235,025 $161,023,131,028 - -
1961 $50,162,299,350 $117,112,123,191 - -
1962 $47,310,737,754 $110,577,266,728 $37,253,333 -
1963 $50,812,227,919 $121,966,725,197 $44,266,667 -
1964 $59,821,862,703 $144,140,275,830 $51,915,000 -
1965 $70,565,994,356 $168,572,052,589 $64,748,333 -
1966 $76,854,053,259 $186,524,976,187 $69,110,000 -
1967 $73,011,350,596 $175,762,485,054 $72,317,447 -
1968 $70,980,323,819 $168,556,223,190 $67,514,286 -
1969 $79,847,786,729 $197,109,647,392 $67,225,714 -
1970 $92,752,930,873 $235,151,809,332 $66,331,429 -
1971 $99,959,013,880 $251,753,527,067 $64,946,955 -
1972 $113,871,930,714 $261,345,336,449 $65,429,198 -
1973 $138,764,340,892 $281,625,734,560 $81,203,227 -
1974 $144,418,433,058 $288,131,289,037 $94,159,863 -
1975 $163,687,619,736 $313,256,337,433 $104,295,643 -
1976 $154,196,810,059 $308,338,212,930 $103,653,050 -
1977 $175,226,595,860 $331,679,415,654 $103,987,520 -
1978 $149,788,617,886 $369,245,353,261 - -
1979 $178,573,913,043 $397,275,966,893 - -
1980 $191,487,500,000 $428,399,142,253 $50,642,881 $132,086,051
1981 $196,218,253,968 $450,302,166,910 $36,731,423 $139,706,651
1982 $205,480,916,031 $491,096,319,837 $44,294,648 $142,782,539
1983 $231,130,268,199 $543,778,042,482 $44,442,457 $149,927,930
1984 $260,442,857,143 $626,609,364,484 $50,320,914 $151,444,273
1985 $310,064,625,850 $710,797,305,027 $62,118,570 $170,988,428
1986 $301,310,144,928 $774,307,505,788 $76,407,396 $167,003,446
1987 $273,455,156,951 $864,345,705,903 $93,345,860 $174,412,950
1988 $312,888,888,889 $961,347,723,725 $100,534,657 $179,044,071
1989 $348,380,566,802 $1,001,785,223,304 $88,265,975 $176,843,301
1990 $361,560,229,446 $1,041,271,896,196 $112,119,411 $173,733,398
1991 $384,510,452,962 $1,138,752,669,459 $110,906,029 $171,957,428
1992 $428,502,354,788 $1,301,589,870,245 $134,707,184 $231,704,586
1993 $446,557,291,212 $1,482,889,338,699 $136,047,906 $257,269,047
1994 $566,929,539,493 $1,676,743,149,158 $100,807,003 $300,152,801
1995 $738,190,896,228 $1,861,735,071,148 $141,853,361 $352,638,312
1996 $868,523,936,530 $2,047,465,483,837 $232,463,023 $587,424,890
1997 $967,753,570,435 $2,237,626,840,760 $442,337,871 $1,468,403,405
1998 $1,037,134,141,760 $2,414,864,610,328 $370,687,634 $1,817,508,713
1999 $1,103,843,203,576 $2,601,702,759,079 $621,117,886 $2,283,954,429
2000 $1,223,754,919,971 $2,825,096,197,800 $1,045,998,496 $2,699,948,864
2001 $1,355,036,590,252 $3,059,936,242,479 $1,461,139,022 $4,411,173,090
2002 $1,489,821,682,051 $3,342,778,183,071 $1,806,742,742 $5,269,712,387
2003 $1,683,903,309,844 $3,681,006,926,651 $2,484,745,935 $6,005,113,942
2004 $1,984,196,551,300 $4,053,944,733,454 $4,410,764,339 $8,286,980,786
2005 $2,317,551,298,052 $4,518,455,387,849 $8,217,369,093 $9,674,942,387
2006 $2,791,498,472,804 $5,091,154,930,758 $10,086,528,699 $10,420,388,727
2007 $3,604,055,822,572 $5,811,552,614,974 $13,071,718,759 $12,012,844,403
2008 $4,667,346,414,522 $6,373,544,042,638 $19,749,893,536 $14,151,023,688
2009 $5,189,577,094,998 $6,972,829,250,985 $15,027,795,173 $14,341,122,354
2010 $6,192,564,874,453 $7,711,689,202,853 $16,314,443,436 $13,061,295,371
2011 $7,671,757,207,851 $8,441,318,020,902 $21,357,343,669 $13,913,404,306
2012 $8,673,664,713,189 $9,104,482,675,356 $22,388,344,144 $15,070,007,775
2013 $9,743,124,247,267 $9,812,695,262,901 $21,948,834,284 $14,447,134,440
2014 $10,674,533,168,257 $10,544,908,798,424 $21,765,453,082 $14,507,099,626
2015 $11,280,814,787,469 $11,280,814,787,469 $13,185,496,881 $13,185,496,881
2016 $11,456,024,084,962 $12,045,152,668,727 $11,240,808,848 $12,023,008,462
2017 $12,537,559,062,283 $12,875,216,222,853 $12,200,913,879 $11,341,603,435
2018 $14,147,765,772,964 $13,745,158,275,137 $13,097,012,134 $10,634,279,339
2019 $14,560,167,101,283 $14,579,283,528,148 $11,364,133,550 $10,051,326,715
2020 $14,996,414,166,715 $14,920,466,234,565 $9,893,816,008 $9,569,759,527
2021 $18,201,698,719,564 $16,199,162,892,909 $12,215,878,033 $9,652,085,293
2022 $18,316,765,021,690 $16,706,875,253,649 $13,687,643,436 $9,963,221,065
2023 $18,270,356,654,533 $17,611,526,369,127 $12,337,550,584 $9,456,161,987
2024 $18,743,803,170,827 $18,488,114,837,769 $12,765,777,677 $9,541,952,851

Economic indicators

China Equatorial Guinea
Gross domestic product
$18.7T
2024
$12.8B
2024
GDP rank
2/197
2024
148/197
2024
GDP growth
2.59%
2023-2024
3.47%
2023-2024
GDP per capita
$13,303
2024
$6,745
2024
GDP per capita rank
76/197
2024
106/197
2024
GDP per capita, PPP
$27,105
2024
$17,567
2024
Government debt
$16.6T
2024
$4.62B
2024
Debt-to-GDP ratio
96.3%
2025
35.1%
2025
Government debt per person
$11,750
2024
$2,442
2024
Government debt per person rank
48/185
2024
112/185
2024
Average annual personal income after taxes
$9,060
2025
$4,393
2025
Market capitalization of domestic companies
$11.8T
2024
n/a
Number of millionaires
6,013,282
2024
n/a
Number of billionaires
450
2025
n/a
Income share by richest 10%
28.4%
2022
29.1%
2022
Income share by poorest 10%
3.1%
2022
2.6%
2022
Government expenditure, % of GDP
33.7%
2025
18.7%
2025
Consumer prices inflation
0%
2024-2025
2.9%
2024-2025
Central bank interest rate
3.1%
2024
n/a
Unemployment rate
5.11%
2021
8.6%
2014
Population
1405773318
1975406

GDP per capita in China vs Equatorial Guinea

China's GDP per capita is $13,303, ranking 76/197, compared to $6,745 in Equatorial Guinea, ranking 106/197. Adjusted for purchasing power (GDP per capita PPP), China ranks 77th at $27,105, while Equatorial Guinea ranks 103rd at $17,567.

China
GDP per capita

GDP per capita, PPP
Equatorial Guinea
GDP per capita

GDP per capita, PPP
Year Current $
China Equatorial Guinea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $89.7 - - -
1961 $76 - - -
1962 $71.1 - $132.9 -
1963 $74.5 - $154.8 -
1964 $85.7 - $177.8 -
1965 $98.7 - $217.1 -
1966 $104.5 - $226.7 -
1967 $96.8 - $231.9 -
1968 $91.6 - $211.7 -
1969 $100.3 - $208.4 -
1970 $113.3 - $206.8 -
1971 $118.8 - $205.6 -
1972 $132.1 - $211.4 -
1973 $157.3 - $268.6 -
1974 $160.4 - $319 -
1975 $178.6 - $362 -
1976 $165.7 - $369 -
1977 $185.7 - $376 -
1978 $156.7 - $376 -
1979 $184.3 - $372 -
1980 $195.1 - $175.5 -
1981 $197.4 - $121.1 -
1982 $203.7 - $137.5 -
1983 $225.9 - $129.4 -
1984 $251.2 - $137.9 -
1985 $295 - $161.1 -
1986 $282.4 - $188.8 -
1987 $252.3 - $220.9 -
1988 $284 - $228.7 -
1989 $311 - $193.2 -
1990 $319 $991 $236.4 $577
1991 $334 $1,105 $225.3 $569
1992 $368 $1,276 $263.7 $756
1993 $379 $1,471 $256.7 $828
1994 $476 $1,680 $183.2 $951
1995 $613 $1,884 $248.3 $1,098
1996 $713 $2,088 $392 $1,793
1997 $787 $2,297 $717 $4,387
1998 $835 $2,483 $578 $5,280
1999 $881 $2,690 $931 $6,470
2000 $969 $2,964 $1,487 $7,420
2001 $1,065 $3,258 $1,949 $11,627
2002 $1,164 $3,591 $2,264 $13,255
2003 $1,307 $4,007 $2,931 $14,496
2004 $1,531 $4,505 $4,901 $19,354
2005 $1,778 $5,148 $8,674 $22,137
2006 $2,129 $5,946 $10,185 $23,511
2007 $2,735 $6,935 $12,617 $26,611
2008 $3,523 $7,713 $18,211 $30,523
2009 $3,898 $8,448 $13,233 $29,722
2010 $4,629 $9,411 $13,720 $26,168
2011 $5,704 $10,457 $17,198 $27,242
2012 $6,405 $11,420 $17,309 $30,012
2013 $7,147 $12,228 $16,304 $27,910
2014 $7,781 $12,942 $15,549 $27,177
2015 $8,175 $13,463 $9,069 $19,479
2016 $8,255 $14,157 $7,453 $16,649
2017 $8,980 $15,022 $7,809 $18,435
2018 $10,086 $16,298 $8,102 $18,413
2019 $10,343 $17,601 $6,804 $16,451
2020 $10,627 $18,267 $5,764 $13,677
2021 $12,887 $20,843 $6,946 $16,821
2022 $12,971 $23,032 $7,589 $18,140
2023 $12,951 $25,179 $6,678 $17,412
2024 $13,303 $27,105 $6,745 $17,567

Spending and national debt comparison

In 2024, China's government spending was $6.18T, accounting for 33.7% of its GDP, while Equatorial Guinea's spent $2.52B, or 18.7% of GDP.

Debt-to-GDP ratio is 96.3% in China and 35.1% in Equatorial Guinea, ranking 26/185 and 148/185, respectively.

China
Government spending

Government debt
Equatorial Guinea
Government spending

Government debt
Year % of GDP
China Equatorial Guinea
Government spending Government debt Government spending Government debt
1982 27.9% - - -
1983 28.3% - - -
1984 26.9% 0.97% - -
1985 25.8% 3.31% 115.4% 183.8%
1986 25.6% 3.24% 119% 152.5%
1987 23.4% 3.6% 183% 141.3%
1988 20.9% 4.46% 227.9% 154.5%
1989 18.6% - 116.8% 187%
1990 18.2% - 212.9% 157%
1991 16.5% - 284.5% 169.5%
1992 14.6% - 595% 136.9%
1993 13.4% - 256.3% 152.6%
1994 12.4% - 510% 216%
1995 11.1% 21.4% 141.5% 136.9%
1996 11% 21.2% 22.9% 91.2%
1997 11.5% 20.4% 14.8% 46.3%
1998 12.6% 20.4% 35.1% 59.2%
1999 14.9% 21.6% 18.7% 60.5%
2000 16.1% 22.7% 22.6% 36.6%
2001 17.2% 24.3% 13.5% 25.5%
2002 18.2% 25.6% 11.3% 19.4%
2003 18% 26.4% 13.9% 6.77%
2004 17.6% 26% 10.8% 4.54%
2005 18% 25.9% 14.1% 2.85%
2006 18.1% 25.2% 18.1% 1.22%
2007 17.9% 28.7% 19.7% 0.75%
2008 22.2% 26.7% 19.9% 0.49%
2009 25.2% 34% 39.8% 4.34%
2010 24.7% 33.3% 31.2% 7.89%
2011 26.6% 33.2% 27.5% 7.17%
2012 27.7% 33.8% 35.2% 7.1%
2013 28.1% 36.4% 29.3% 6.27%
2014 28.4% 39.3% 31.6% 12.6%
2015 31% 40.8% 41.6% 31.7%
2016 31.7% 49.7% 27.8% 41.1%
2017 32% 53.9% 20.1% 36.2%
2018 32.6% 55.6% 19.1% 40.6%
2019 33.6% 59.4% 16.8% 43.2%
2020 34.8% 69% 16.2% 49.4%
2021 31.9% 70.1% 12.7% 42.3%
2022 32.6% 75.5% 14.8% 29.8%
2023 32.7% 82% 19.2% 36.3%
2024 32.9% 88.3% 19.7% 36.2%
2025 33.7% 96.3% 18.7% 35.1%

Government deficit by year

In 2024, China's government deficit, the difference between spending and revenue, was -$1.38T, equivalent to -7.34% of GDP. This compares to Equatorial Guinea's deficit of -$158M, or -1.23% of GDP.

Over the past 40 years, China recorded a fiscal deficit in 39 of those years, while Equatorial Guinea ran a deficit in 25 years. On average, China posted an annual deficit equal to -2.34% of GDP, compared to deficit of -58.5% of GDP for Equatorial Guinea.

Deficit/surplus
China

Equatorial Guinea
Year Deficit/surplus, % of GDP
China Equatorial Guinea
1982 -1.33% -
1983 -1.61% -
1984 -1.44% -
1985 -0.45% -89.3%
1986 -1.82% -97.3%
1987 -2.08% -158%
1988 -2.22% -208.5%
1989 -0.91% -76.2%
1990 -0.72% -160.2%
1991 -1.04% -236%
1992 -1.22% -557%
1993 -0.89% -217.9%
1994 -1.68% -487%
1995 -0.94% -123.4%
1996 -0.73% -6.36%
1997 -0.73% 3.21%
1998 -1.08% -7.65%
1999 -2.3% -0.19%
2000 -2.81% -2.67%
2001 -2.56% 14.9%
2002 -2.84% 17.6%
2003 -2.36% 7.85%
2004 -1.49% 13.9%
2005 -1.38% 18.5%
2006 -1.13% 21.8%
2007 0.06% 17.2%
2008 -0.02% 14.6%
2009 -1.72% -6.47%
2010 -0.36% -4.53%
2011 -0.1% 0.83%
2012 -0.3% -7.24%
2013 -0.82% -4.4%
2014 -0.67% -7.54%
2015 -2.5% -15.1%
2016 -3.33% -10.9%
2017 -3.34% -2.59%
2018 -4.2% 0.52%
2019 -6% 1.82%
2020 -9.56% -1.77%
2021 -5.9% 2.65%
2022 -7.32% 11.7%
2023 -6.71% 2.39%
2024 -7.34% -1.23%
2025 -8.57% -0.78%

Inflation comparison by year

Over the past 30 years, China has recorded an average annual inflation rate of 1.98%, compared with 3.91% in Equatorial Guinea. In 2025, inflation was 0% in China and 2.9% in Equatorial Guinea.

Inflation
China

Equatorial Guinea
Year Inflation
China Equatorial Guinea China Equatorial Guinea
1996 8.3% 4.5%
1997 2.8% 3%
1998 -0.8% 7.9%
1999 -1.4% 0.4%
2000 0.4% 4.8%
2001 0.7% 8.7%
2002 -0.8% 7.6%
2003 1.1% 7.3%
2004 3.9% 4.2%
2005 1.8% 5.6%
2006 1.5% 4.5%
2007 4.7% 2.8%
2008 5.9% 4.7%
2009 -0.7% 5.7%
2010 3.3% 5.3%
2011 5.4% 4.8%
2012 2.6% 3.4%
2013 2.7% 3.2%
2014 2% 4.3%
2015 1.5% 1.7%
2016 2% 1.4%
2017 1.6% 0.7%
2018 2.1% 1.3%
2019 2.9% 1.2%
2020 2.5% 4.8%
2021 0.9% -0.1%
2022 2% 4.9%
2023 0.2% 2.4%
2024 0.2% 3.4%
2025 0% 2.9%

Top exports between countries

China
Export category Export value
Machinery & equipment $86.4M
Textiles & consumer goods $49.3M
Metals $28.2M
Chemicals & pharma $22.8M
Wood & paper products $5.78M
Raw materials & minerals $5.58M
Processed food, beverages & tobacco $3.09M
Raw agricultural goods $2.36M
Miscellaneous $1.97M
Animal & marine products $1.54M
Equatorial Guinea
Export category Export value
Raw materials & minerals $931M
Wood & paper products $52.5M
Metals $85K
Miscellaneous $1K

Balance of trade

China Equatorial Guinea
Current account balance
$424B
2024
-$344M
1996
Current account balance ranking
1/189
2024
99/189
1996
Current account balance, % of GDP
+2.26%
2024
-148%
1996
Goods imports
$2.64T
2024
$292M
1996
Goods exports
$3.41T
2024
$175M
1996
Service imports
$613B
2024
$185M
1996
Service exports
$384B
2024
$4.88M
1996
Imports of goods and services, % of GDP
17.2%
2024
25.4%
2024
Exports of goods and services, % of GDP
20%
2024
35.2%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

China Equatorial Guinea
Economic freedom 49 47.7
Economic freedom ranking 167/197 175/197
Property rights 46.7 18.7
Government integrity 40.4 7.2
Judicial effectiveness 37.4 7.1
Tax burden 71.6 74.9
Government spending 67.1 92.5
Fiscal health 11.1 97.2
Business freedom 67.7 36.5
Labor freedom 57.9 44.9
Monetary freedom 74.6 74.3
Trade freedom 74 48.8
Investment freedom 20 40
Financial freedom 20 30

Economic freedom by year comparison

The Economic Freedom Index for China is 49, ranking 167/197, compared to 47.7 for Equatorial Guinea, ranking 175/197. The chart below displays a comparison of annual changes in economic freedom indexes.

China
Equatorial Guinea
Year Economic freedom index
China Equatorial Guinea
1995 52 -
1996 51.3 -
1997 51.7 -
1998 53.1 -
1999 54.8 45.1
2000 56.4 45.6
2001 52.6 47.9
2002 52.8 46.4
2003 52.6 53.1
2004 52.5 53.3
2005 53.7 53.3
2006 53.6 51.5
2007 52 53.2
2008 53.1 51.6
2009 53.2 51.3
2010 51 48.6
2011 52 47.5
2012 51.2 42.8
2013 51.9 42.3
2014 52.5 44.4
2015 52.7 40.4
2016 52 43.7
2017 57.4 45
2018 57.8 42
2019 58.4 41
2020 59.5 48.3
2021 58.4 49.2
2022 48 47.2
2023 48.3 48.3
2024 48.5 47.7
2025 49 47.7

More economic indicators

China Equatorial Guinea
Services, % of GDP
56.7%
2024
51.1%
2024
Industry, % of GDP
36.5%
2024
45.8%
2024
Agriculture, forestry, and fishing, % of GDP
6.78%
2024
3.15%
2024
GNI, Atlas method
$19.3T
2024
$8.96B
2024
GNI per capita, PPP
$26,920
2024
$12,330
2024
Total reserves including gold
$3.46T
2024
$1.54B
2023
Total reserves ranking
1/177
2024
134/177
2023
Net foreign direct investment
$154B
2024
-$376M
1996
Net inflows of foreign direct investment
$18.6B
2024
$188M
2024
Net outflows of foreign direct investment
$172B
2024
$154M
2024
Servicing debt to the IMF, % of GNI
2.13%
2023
n/a
Poverty at national poverty lines
0%
2020
50.7%
2022
Gross capital formation, % of GDP
41.1%
2023
8.96%
2024

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.