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Economy of Ecuador vs Equatorial Guinea compared: GDP & Debt

Updated on by Georank team

Ecuador has a GDP of $125B compared to $12.8B for Equatorial Guinea, ranking 62/197 and 148/197 by economy size, respectively.

Ecuador has $67B in government debt (53.8% of GDP), compared to $4.65B (36.4% of GDP) in Equatorial Guinea.

Ecuador vs Equatorial Guinea GDP by year

Ecuador
Equatorial Guinea
1x
Year GDP, current $
Ecuador Equatorial Guinea
2024 $124,676,074,700 $12,765,777,677
2023 $121,147,057,000 $12,337,550,584
2022 $116,133,121,000 $13,687,643,436
2021 $107,179,074,000 $12,215,878,033
2020 $95,865,473,000 $9,893,816,008
2019 $107,595,830,000 $11,364,133,550
2018 $107,478,961,000 $13,097,012,134
2017 $104,467,486,000 $12,200,913,879
2016 $97,671,433,000 $11,240,808,848
2015 $97,209,558,000 $13,185,496,881
2014 $102,717,794,000 $21,765,453,082
2013 $96,570,334,000 $21,948,834,284
2012 $87,735,048,000 $22,388,344,144
2011 $78,986,648,000 $21,357,343,669
2010 $68,151,329,000 $16,314,443,436
2009 $60,094,978,000 $15,027,795,173
2008 $61,139,438,000 $19,749,893,536
2007 $49,848,725,000 $13,071,718,759
2006 $45,690,762,000 $10,086,528,699
2005 $40,278,849,000 $8,217,369,093
2004 $35,194,947,000 $4,410,764,339
2003 $30,965,208,000 $2,484,745,935
2002 $27,054,197,000 $1,806,742,742
2001 $23,127,055,000 $1,461,139,022
2000 $17,539,454,727 $1,045,998,496
1999 $19,645,272,636 $621,117,886
1998 $27,981,896,948 $370,687,634
1997 $28,162,053,027 $442,337,871
1996 $25,226,393,197 $232,463,023
1995 $24,432,884,442 $141,853,361
1994 $22,708,673,337 $100,807,003
1993 $18,938,717,359 $136,047,906
1992 $18,094,238,119 $134,707,184
1991 $16,988,535,268 $110,906,029
1990 $15,239,272,612 $112,119,411
1989 $13,890,823,705 $88,265,975
1988 $13,051,881,851 $100,534,657
1987 $13,945,426,859 $93,345,860
1986 $15,314,138,472 $76,407,396
1985 $17,149,088,413 $62,118,570
1984 $16,912,509,092 $50,320,914
1983 $17,152,477,037 $44,442,457
1982 $19,929,846,396 $44,294,648
1981 $21,810,759,354 $36,731,423
1980 $17,881,508,242 $50,642,881
1979 $14,175,160,902 -
1978 $11,922,497,876 -
1977 $11,026,342,618 $103,987,520
1976 $9,091,921,030 $103,653,050
1975 $7,731,674,472 $104,295,643
1974 $6,599,257,044 $94,159,863
1973 $3,891,754,150 $81,203,227
1972 $3,185,986,087 $65,429,198
1971 $2,754,219,271 $64,946,955
1970 $2,862,503,139 $66,331,429
1969 $3,112,165,727 $67,225,714
1968 $2,582,179,864 $67,514,286
1967 $2,553,595,172 $72,317,447
1966 $2,429,308,639 $69,110,000
1965 $2,387,047,396 $64,748,333
1964 $2,244,146,103 $51,915,000
1963 $1,824,343,871 $44,266,667
1962 $1,518,207,703 $37,253,333
1961 $1,753,850,955 -
1960 $2,069,464,937 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/ecuador/equatorial-guinea | CC BY

GDP per capita in Ecuador vs Equatorial Guinea by year

Ecuador
GDP per capita

GDP per capita, PPP
Equatorial Guinea
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ecuador Equatorial Guinea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,875 $15,840 $6,745 $17,567
2023 $6,738 $15,919 $6,678 $17,412
2022 $6,516 $15,198 $7,589 $18,140
2021 $6,061 $13,507 $6,946 $16,821
2020 $5,464 $11,527 $5,764 $13,677
2019 $6,205 $12,543 $6,804 $16,451
2018 $6,304 $12,187 $8,102 $18,413
2017 $6,233 $11,793 $7,809 $18,435
2016 $5,918 $10,881 $7,453 $16,649
2015 $5,976 $10,878 $9,069 $19,479
2014 $6,406 $11,836 $15,549 $27,177
2013 $6,109 $11,296 $16,304 $27,910
2012 $5,634 $10,245 $17,309 $30,012
2011 $5,154 $9,769 $17,198 $27,242
2010 $4,520 $8,969 $13,720 $26,168
2009 $4,053 $8,662 $13,233 $29,722
2008 $4,195 $8,663 $18,211 $30,523
2007 $3,479 $8,112 $12,617 $26,611
2006 $3,244 $7,885 $10,185 $23,511
2005 $2,909 $7,457 $8,674 $22,137
2004 $2,586 $6,980 $4,901 $19,354
2003 $2,316 $6,475 $2,931 $14,496
2002 $2,059 $6,282 $2,264 $13,255
2001 $1,791 $5,999 $1,949 $11,627
2000 $1,382 $5,728 $1,487 $7,420
1999 $1,575 $5,638 $931 $6,470
1998 $2,284 $5,940 $578 $5,280
1997 $2,341 $5,793 $717 $4,387
1996 $2,136 $5,560 $392 $1,793
1995 $2,108 $5,469 $248.3 $1,098
1994 $1,997 $5,339 $183.2 $951
1993 $1,698 $5,112 $256.7 $828
1992 $1,655 $4,998 $263.7 $756
1991 $1,587 $4,887 $225.3 $569
1990 $1,455 $4,632 $236.4 $577
1989 $1,356 - $193.2 -
1988 $1,304 - $228.7 -
1987 $1,426 - $220.9 -
1986 $1,604 - $188.8 -
1985 $1,842 - $161.1 -
1984 $1,864 - $137.9 -
1983 $1,940 - $129.4 -
1982 $2,314 - $137.5 -
1981 $2,601 - $121.1 -
1980 $2,190 - $175.5 -
1979 $1,783 - - -
1978 $1,541 - - -
1977 $1,465 - $376 -
1976 $1,242 - $369 -
1975 $1,086 - $362 -
1974 $954 - $319 -
1973 $579 - $268.6 -
1972 $488 - $211.4 -
1971 $434 - $205.6 -
1970 $465 - $206.8 -
1969 $521 - $208.4 -
1968 $445 - $211.7 -
1967 $454 - $231.9 -
1966 $445 - $226.7 -
1965 $450 - $217.1 -
1964 $436 - $177.8 -
1963 $365 - $154.8 -
1962 $312 - $132.9 -
1961 $371 - - -
1960 $451 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/ecuador/equatorial-guinea | CC BY

Ecuador's GDP per capita is $6,875, ranking 103/197, compared to $6,745 in Equatorial Guinea, ranking 106/197. Adjusted for purchasing power (GDP per capita PPP), Ecuador ranks 110th at $15,840, while Equatorial Guinea ranks 106th at $17,567.

Economic indicators

Ecuador Equatorial Guinea
Gross domestic product
$125B
2024
$12.8B
2024
GDP rank
62/197
2024
148/197
2024
GDP growth
-2%
2023-2024
0.91%
2023-2024
GDP per capita
$6,875
2024
$6,745
2024
GDP per capita rank
103/197
2024
106/197
2024
GDP per capita, PPP
$15,840
2024
$17,567
2024
GDP per capita PPP rank
110/197
2024
106/197
2024
Government debt
$67B
2024
$4.65B
2024
Debt-to-GDP ratio
53.8%
2024
36.4%
2024
Government debt per person
$3,695
2024
$2,458
2024
Government debt per person rank
93/185
2024
110/185
2024
Average annual personal income after taxes
$5,894
2026
$5,042
2026
Market capitalization of domestic companies
$747M
2000
n/a
Income share by richest 10%
33.4%
2024
29.1%
2022
Income share by poorest 10%
1.5%
2024
2.6%
2022
Government expenditure, % of GDP
38.1%
2024
18.5%
2024
Consumer prices inflation
1.55%
2023-2024
3.4%
2023-2024
Unemployment rate
3.39%
2024
8.6%
2014
Population
18487749
1998075

Spending and national debt comparison by year

Ecuador
Spending

Debt
Equatorial Guinea
Spending

Debt
1x
Year % of GDP
Ecuador Equatorial Guinea
Government spending Government debt Government spending Government debt
2024 38.1% 53.8% 18.5% 36.4%
2023 39.5% 54.3% 19.2% 39.1%
2022 38.9% 57.2% 14.8% 29.8%
2021 37.5% 61.8% 12.7% 42.3%
2020 40.2% 63.6% 16.2% 49.4%
2019 39.8% 52.1% 16.8% 43.2%
2018 40.9% 49.5% 19.1% 40.6%
2017 40.5% 47.4% 20.1% 36.2%
2016 44.1% 46.1% 27.8% 41.1%
2015 44.1% 36.4% 41.6% 31.7%
2014 45.9% 28.2% 31.6% 12.6%
2013 46.7% 23.4% 29.3% 6.27%
2012 43.2% 19.3% 35.2% 7.1%
2011 39.6% 18.6% 27.5% 7.17%
2010 35.4% 18.4% 31.2% 7.89%
2009 34.3% 19.7% 39.8% 4.34%
2008 35.6% 24.9% 19.9% 0.49%
2007 24.7% 29.6% 19.7% 0.75%
2006 21.7% 33.1% 18.1% 1.22%
2005 22% 35.8% 14.1% 2.85%
2004 21.3% 40.2% 15.5% 4.54%
2003 21.3% 47.2% 11.8% 6.77%
2002 22.8% 55% 11.3% 19.4%
2001 21.4% 63.8% 13.5% 25.5%
2000 24.3% 92.2% 22.6% 36.6%
1999 24.1% 105.2% 18.7% 60.5%
1998 21.5% 70.3% 35.1% 59.2%
1997 22% 61.5% 14.8% 46.3%
1996 22.7% 69.3% 22.9% 91.2%
1995 22% 70.5% 141.5% 136.9%
1994 - - 510% 216%
1993 - - 256.3% 152.6%
1992 - - 595% 136.9%
1991 - - 284.5% 169.5%
1990 - - 212.9% 157%
1989 - - 116.8% 187%
1988 - - 227.9% 154.5%
1987 - - 183% 141.3%
1986 - - 119% 152.5%
1985 - - 115.4% 183.8%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–2000, retrieved 2026-02-20).

GeoRank.org/economy/ecuador/equatorial-guinea | CC BY

In 2024, Ecuador's government spending was $47.5B, accounting for 38.1% of its GDP, while Equatorial Guinea spent $2.36B, or 18.5% of GDP.

Debt-to-GDP ratio is 53.8% in Ecuador and 36.4% in Equatorial Guinea, ranking 98/185 and 143/185, respectively.

Government deficit by year

Deficit/surplus
Ecuador

Equatorial Guinea
1x
Year Deficit/surplus, % of GDP
Ecuador Equatorial Guinea
2024 -1.28% -0.55%
2023 -3.48% 2.39%
2022 0.04% 11.7%
2021 -1.59% 2.65%
2020 -7.38% -1.77%
2019 -3.47% 1.82%
2018 -2.8% 0.52%
2017 -5.77% -2.59%
2016 -10.3% -10.9%
2015 -6.87% -15.1%
2014 -8.11% -7.54%
2013 -8.17% -4.4%
2012 -2.83% -7.24%
2011 -0.13% 0.83%
2010 -1.39% -4.53%
2009 -3.71% -6.47%
2008 0.57% 14.6%
2007 2.66% 17.2%
2006 2.92% 21.8%
2005 0.66% 18.5%
2004 1.94% 9.22%
2003 1.05% 9.99%
2002 0.74% 17.6%
2001 0.03% 14.9%
2000 -0.32% -2.67%
1999 -4.82% -0.19%
1998 -5.1% -7.65%
1997 -2.83% 3.21%
1996 -3.44% -6.36%
1995 -2.02% -123.4%
1994 - -487%
1993 - -217.9%
1992 - -557%
1991 - -236%
1990 - -160.2%
1989 - -76.2%
1988 - -208.5%
1987 - -158%
1986 - -97.3%
1985 - -89.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-02-20).

GeoRank.org/economy/ecuador/equatorial-guinea | CC BY

In 2024, Ecuador's government deficit, the difference between spending and revenue, was $1.59B, equivalent to 1.28% of GDP. This compares to Equatorial Guinea's deficit of $70.8M, or 0.55% of GDP.

Over the past 30 years, Ecuador recorded a fiscal deficit in 21 of those years, while Equatorial Guinea ran a deficit in 15 years. On average, Ecuador posted an annual deficit equal to 2.51% of GDP, compared to deficit of 1.82% of GDP for Equatorial Guinea.

Inflation comparison by year

Inflation
Ecuador

Equatorial Guinea
1x
Year Consumer prices inflation
Ecuador Equatorial Guinea
2024 1.55% 3.4%
2023 2.22% 2.4%
2022 3.47% 4.9%
2021 0.13% -0.1%
2020 -0.34% 4.8%
2019 0.27% 1.2%
2018 -0.22% 1.3%
2017 0.42% 0.7%
2016 1.73% 1.4%
2015 3.97% 1.7%
2014 3.59% 4.3%
2013 2.72% 3.2%
2012 5.1% 3.4%
2011 4.47% 4.8%
2010 3.55% 5.3%
2009 5.16% 5.7%
2008 8.4% 4.7%
2007 2.28% 2.8%
2006 3.3% 4.5%
2005 2.17% 5.6%
2004 2.74% 4.2%
2003 7.93% 7.3%
2002 12.5% 7.6%
2001 37.7% 8.7%
2000 96.1% 4.8%
1999 52.2% 0.4%
1998 36.1% 7.9%
1997 30.7% 3%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/ecuador/equatorial-guinea | CC BY

Over the past 28 years, Ecuador has recorded an average annual inflation rate of 11.8%, compared with 3.93% in Equatorial Guinea. In 2024, inflation was 1.55% in Ecuador and 3.4% in Equatorial Guinea.

Top exports between countries

Ecuador
Export category Export value
Processed food, beverages & tobacco $79K
Machinery & equipment $5K
Metals $3K
Equatorial Guinea
Export category Export value

Balance of trade

Ecuador Equatorial Guinea
Current account balance
$7.06B
2024
-$344M
1996
Current account balance ranking
27/190
2024
101/190
1996
Current account balance, % of GDP
+5.66%
2024
-148%
1996
Goods imports
$27.9B
2024
$292M
1996
Goods exports
$34.7B
2024
$175M
1996
Service imports
$6.18B
2024
$185M
1996
Service exports
$3.86B
2024
$4.88M
1996
Imports of goods and services, % of GDP
26.9%
2024
25.4%
2024
Exports of goods and services, % of GDP
30.3%
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.

Ecuador Equatorial Guinea
Economic freedom 55.6 47.4
Economic freedom ranking 127/197 175/197
Property rights 33.2 16.9
Government integrity 33 6.9
Judicial effectiveness 48.1 7.2
Tax burden 74.2 81
Government spending 54.9 90.8
Fiscal health 90.3 97.3
Business freedom 64.3 35.9
Labor freedom 56.9 45.2
Monetary freedom 76.3 73.5
Trade freedom 66.4 43.6
Investment freedom 30 40
Financial freedom 40 30

Economic freedom comparison by year

Ecuador
Equatorial Guinea
1x
Year Economic freedom index
Ecuador Equatorial Guinea
2026 55.6 47.4
2025 55.8 47.7
2024 55 47.7
2023 55 48.3
2022 54.3 47.2
2021 52.4 49.2
2020 51.3 48.3
2019 46.9 41
2018 48.5 42
2017 49.3 45
2016 48.6 43.7
2015 49.2 40.4
2014 48 44.4
2013 46.9 42.3
2012 48.3 42.8
2011 47.1 47.5
2010 49.3 48.6
2009 52.5 51.3
2008 55.2 51.6
2007 55.3 53.2
2006 54.6 51.5
2005 52.9 53.3
2004 54.4 53.3
2003 54.1 53.1
2002 53.1 46.4
2001 55.1 47.9
2000 59.8 45.6
1999 62.9 45.1
1998 62.8 -
1997 61 -
1996 60.1 -
1995 57.7 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/ecuador/equatorial-guinea | CC BY

The Economic Freedom Index for Ecuador is 55.6, ranking 127/197, compared to 47.4 for Equatorial Guinea, ranking 175/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ecuador Equatorial Guinea
Services, % of GDP
57.2%
2024
51.1%
2024
Industry, % of GDP
26.5%
2024
45.8%
2024
Agriculture, forestry, and fishing, % of GDP
9.48%
2024
3.15%
2024
GNI, Atlas method
$117B
2024
$8.96B
2024
GNI per capita, PPP
$15,410
2024
$12,330
2024
Total reserves including gold
$6.91B
2024
$1.54B
2023
Total reserves ranking
87/177
2024
134/177
2023
Net foreign direct investment
-$438M
2024
-$376M
1996
Net inflows of foreign direct investment
$443M
2024
$188M
2024
Net outflows of foreign direct investment
$0
2024
$154M
2024
Servicing debt to the IMF, % of GNI
7%
2024
n/a
Poverty at national poverty lines
28%
2024
50.7%
2022
Gross capital formation, % of GDP
18.5%
2024
8.96%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/ecuador/equatorial-guinea | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1985–2000, retrieved 2026-02-20)
  6. TradeMap (2020–2023, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2014, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.