Equatorial Guinea has a GDP of $12.8B compared to $2.07B for Eritrea, ranking 148/197 and 179/197 by economy size, respectively.
Equatorial Guinea has $4.62B in government debt (35.1% of GDP), compared to $3.54B (260.4% of GDP) in Eritrea.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Equatorial Guinea
|
Eritrea
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1962 | $37,253,333 | - | - | - |
| 1963 | $44,266,667 | - | - | - |
| 1964 | $51,915,000 | - | - | - |
| 1965 | $64,748,333 | - | - | - |
| 1966 | $69,110,000 | - | - | - |
| 1967 | $72,317,447 | - | - | - |
| 1968 | $67,514,286 | - | - | - |
| 1969 | $67,225,714 | - | - | - |
| 1970 | $66,331,429 | - | - | - |
| 1971 | $64,946,955 | - | - | - |
| 1972 | $65,429,198 | - | - | - |
| 1973 | $81,203,227 | - | - | - |
| 1974 | $94,159,863 | - | - | - |
| 1975 | $104,295,643 | - | - | - |
| 1976 | $103,653,050 | - | - | - |
| 1977 | $103,987,520 | - | - | - |
| 1978 | - | - | - | - |
| 1979 | - | - | - | - |
| 1980 | $50,642,881 | $132,086,051 | - | - |
| 1981 | $36,731,423 | $139,706,651 | - | - |
| 1982 | $44,294,648 | $142,782,539 | - | - |
| 1983 | $44,442,457 | $149,927,930 | - | - |
| 1984 | $50,320,914 | $151,444,273 | - | - |
| 1985 | $62,118,570 | $170,988,428 | - | - |
| 1986 | $76,407,396 | $167,003,446 | - | - |
| 1987 | $93,345,860 | $174,412,950 | - | - |
| 1988 | $100,534,657 | $179,044,071 | - | - |
| 1989 | $88,265,975 | $176,843,301 | - | - |
| 1990 | $112,119,411 | $173,733,398 | - | - |
| 1991 | $110,906,029 | $171,957,428 | - | - |
| 1992 | $134,707,184 | $231,704,586 | $477,101,652 | $1,154,926,146 |
| 1993 | $136,047,906 | $257,269,047 | $467,872,715 | $1,310,318,716 |
| 1994 | $100,807,003 | $300,152,801 | $531,688,312 | $1,588,386,838 |
| 1995 | $141,853,361 | $352,638,312 | $578,015,625 | $1,633,788,955 |
| 1996 | $232,463,023 | $587,424,890 | $693,535,954 | $1,785,058,837 |
| 1997 | $442,337,871 | $1,468,403,405 | $686,490,090 | $1,926,233,510 |
| 1998 | $370,687,634 | $1,817,508,713 | $745,523,117 | $1,960,377,600 |
| 1999 | $621,117,886 | $2,283,954,429 | $688,918,537 | $1,960,641,860 |
| 2000 | $1,045,998,496 | $2,699,948,864 | $706,370,816 | $1,899,038,769 |
| 2001 | $1,461,139,022 | $4,411,173,090 | $752,371,689 | $2,065,307,885 |
| 2002 | $1,806,742,742 | $5,269,712,387 | $729,321,680 | $2,127,379,251 |
| 2003 | $2,484,745,935 | $6,005,113,942 | $870,248,268 | $2,070,886,356 |
| 2004 | $4,410,764,339 | $8,286,980,786 | $1,109,054,005 | $2,100,950,150 |
| 2005 | $8,217,369,093 | $9,674,942,387 | $1,098,424,686 | $2,155,038,051 |
| 2006 | $10,086,528,699 | $10,420,388,727 | $1,211,161,880 | $2,134,151,054 |
| 2007 | $13,071,718,759 | $12,012,844,403 | $1,317,974,491 | $2,164,601,595 |
| 2008 | $19,749,893,536 | $14,151,023,688 | $1,380,188,800 | $1,952,837,971 |
| 2009 | $15,027,795,173 | $14,341,122,354 | $1,856,695,551 | $2,028,539,765 |
| 2010 | $16,314,443,436 | $13,061,295,371 | $1,589,515,447 | $2,073,049,789 |
| 2011 | $21,357,343,669 | $13,913,404,306 | $2,065,001,626 | $2,252,986,366 |
| 2012 | $22,388,344,144 | $15,070,007,775 | - | - |
| 2013 | $21,948,834,284 | $14,447,134,440 | - | - |
| 2014 | $21,765,453,082 | $14,507,099,626 | - | - |
| 2015 | $13,185,496,881 | $13,185,496,881 | - | - |
| 2016 | $11,240,808,848 | $12,023,008,462 | - | - |
| 2017 | $12,200,913,879 | $11,341,603,435 | - | - |
| 2018 | $13,097,012,134 | $10,634,279,339 | - | - |
| 2019 | $11,364,133,550 | $10,051,326,715 | - | - |
| 2020 | $9,893,816,008 | $9,569,759,527 | - | - |
| 2021 | $12,215,878,033 | $9,652,085,293 | - | - |
| 2022 | $13,687,643,436 | $9,963,221,065 | - | - |
| 2023 | $12,337,550,584 | $9,456,161,987 | - | - |
| 2024 | $12,765,777,677 | $9,541,952,851 | - | - |
Economic indicators
|
Equatorial Guinea
|
Eritrea
|
|
|---|---|---|
| Gross domestic product |
$12.8B
2024 |
$2.07B
2011 |
| GDP rank |
148/197
2024 |
179/197
2011 |
| GDP growth |
3.47%
2023-2024 |
29.9%
2010-2011 |
| GDP per capita |
$6,745
2024 |
$689
2011 |
| GDP per capita rank |
106/197
2024 |
188/197
2011 |
| GDP per capita, PPP |
$17,567
2024 |
$1,742
2011 |
| Government debt |
$4.62B
2024 |
$3.54B
2011 |
| Debt-to-GDP ratio |
35.1%
2025 |
260.4%
2019 |
| Government debt per person |
$2,442
2024 |
$1,182
2011 |
| Government debt per person rank |
112/185
2024 |
137/185
2011 |
| Average annual personal income after taxes |
$4,393
2025 |
$1,342
2025 |
| Income share by richest 10% |
29.1%
2022 |
n/a |
| Income share by poorest 10% |
2.6%
2022 |
n/a |
| Government expenditure, % of GDP |
18.7%
2025 |
31.3%
2019 |
| Consumer prices inflation |
2.9%
2024-2025 |
1.3%
2018-2019 |
| Unemployment rate |
8.6%
2014 |
5.8%
2017 |
| Population |
1975406
|
3667774
|
GDP per capita in Equatorial Guinea vs Eritrea
Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $689 in Eritrea, ranking 188/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 103rd at $17,567, while Eritrea ranks 190th at $1,742.
| Year | Current $ | |||
|---|---|---|---|---|
|
Equatorial Guinea
|
Eritrea
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1962 | $132.9 | - | - | - |
| 1963 | $154.8 | - | - | - |
| 1964 | $177.8 | - | - | - |
| 1965 | $217.1 | - | - | - |
| 1966 | $226.7 | - | - | - |
| 1967 | $231.9 | - | - | - |
| 1968 | $211.7 | - | - | - |
| 1969 | $208.4 | - | - | - |
| 1970 | $206.8 | - | - | - |
| 1971 | $205.6 | - | - | - |
| 1972 | $211.4 | - | - | - |
| 1973 | $268.6 | - | - | - |
| 1974 | $319 | - | - | - |
| 1975 | $362 | - | - | - |
| 1976 | $369 | - | - | - |
| 1977 | $376 | - | - | - |
| 1978 | $376 | - | - | - |
| 1979 | $372 | - | - | - |
| 1980 | $175.5 | - | - | - |
| 1981 | $121.1 | - | - | - |
| 1982 | $137.5 | - | - | - |
| 1983 | $129.4 | - | - | - |
| 1984 | $137.9 | - | - | - |
| 1985 | $161.1 | - | - | - |
| 1986 | $188.8 | - | - | - |
| 1987 | $220.9 | - | - | - |
| 1988 | $228.7 | - | - | - |
| 1989 | $193.2 | - | - | - |
| 1990 | $236.4 | $577 | - | - |
| 1991 | $225.3 | $569 | - | - |
| 1992 | $263.7 | $756 | $265.2 | $1,021 |
| 1993 | $256.7 | $828 | $252.1 | $1,149 |
| 1994 | $183.2 | $951 | $277.8 | $1,379 |
| 1995 | $248.3 | $1,098 | $285.4 | $1,369 |
| 1996 | $392 | $1,793 | $326 | $1,449 |
| 1997 | $717 | $4,387 | $319 | $1,573 |
| 1998 | $578 | $5,280 | $342 | $1,598 |
| 1999 | $931 | $6,470 | $311 | $1,597 |
| 2000 | $1,487 | $7,420 | $314 | $1,558 |
| 2001 | $1,949 | $11,627 | $325 | $1,684 |
| 2002 | $2,264 | $13,255 | $305 | $1,702 |
| 2003 | $2,931 | $14,496 | $349 | $1,621 |
| 2004 | $4,901 | $19,354 | $427 | $1,621 |
| 2005 | $8,674 | $22,137 | $413 | $1,674 |
| 2006 | $10,185 | $23,511 | $448 | $1,682 |
| 2007 | $12,617 | $26,611 | $480 | $1,727 |
| 2008 | $18,211 | $30,523 | $490 | $1,547 |
| 2009 | $13,233 | $29,722 | $643 | $1,577 |
| 2010 | $13,720 | $26,168 | $540 | $1,599 |
| 2011 | $17,198 | $27,242 | $689 | $1,742 |
| 2012 | $17,309 | $30,012 | - | - |
| 2013 | $16,304 | $27,910 | - | - |
| 2014 | $15,549 | $27,177 | - | - |
| 2015 | $9,069 | $19,479 | - | - |
| 2016 | $7,453 | $16,649 | - | - |
| 2017 | $7,809 | $18,435 | - | - |
| 2018 | $8,102 | $18,413 | - | - |
| 2019 | $6,804 | $16,451 | - | - |
| 2020 | $5,764 | $13,677 | - | - |
| 2021 | $6,946 | $16,821 | - | - |
| 2022 | $7,589 | $18,140 | - | - |
| 2023 | $6,678 | $17,412 | - | - |
| 2024 | $6,745 | $17,567 | - | - |
Spending and national debt comparison
In 2024, Equatorial Guinea's government spending was $2.52B, accounting for 18.7% of its GDP, while Eritrea's spent $666M, or 31.3% of GDP.
Debt-to-GDP ratio is 35.1% in Equatorial Guinea and 260.4% in Eritrea, ranking 148/185 and 1/185, respectively.
| Year | % of GDP | |||
|---|---|---|---|---|
|
Equatorial Guinea
|
Eritrea
|
|||
| Government spending | Government debt | Government spending | Government debt | |
| 1985 | 115.4% | 183.8% | - | - |
| 1986 | 119% | 152.5% | - | - |
| 1987 | 183% | 141.3% | - | - |
| 1988 | 227.9% | 154.5% | - | - |
| 1989 | 116.8% | 187% | - | - |
| 1990 | 212.9% | 157% | - | - |
| 1991 | 284.5% | 169.5% | - | - |
| 1992 | 595% | 136.9% | 32.7% | - |
| 1993 | 256.3% | 152.6% | 67.2% | - |
| 1994 | 510% | 216% | 50.4% | - |
| 1995 | 141.5% | 136.9% | 81.2% | - |
| 1996 | 22.9% | 91.2% | 68.6% | - |
| 1997 | 14.8% | 46.3% | 60.1% | - |
| 1998 | 35.1% | 59.2% | 88% | - |
| 1999 | 18.7% | 60.5% | 106.1% | - |
| 2000 | 22.6% | 36.6% | 84.7% | 219.1% |
| 2001 | 13.5% | 25.5% | 59.5% | 238.6% |
| 2002 | 11.3% | 19.4% | 60.1% | 243.4% |
| 2003 | 13.9% | 6.77% | 58.1% | 264% |
| 2004 | 10.8% | 4.54% | 57.1% | 193.5% |
| 2005 | 14.1% | 2.85% | 76.6% | 205.4% |
| 2006 | 18.1% | 1.22% | 50.5% | 199% |
| 2007 | 19.7% | 0.75% | 51.2% | 201.3% |
| 2008 | 19.9% | 0.49% | 69.4% | 259.7% |
| 2009 | 39.8% | 4.34% | 44.9% | 207.1% |
| 2010 | 31.2% | 7.89% | 42.4% | 201.8% |
| 2011 | 27.5% | 7.17% | 32.3% | 171.6% |
| 2012 | 35.2% | 7.1% | 33.3% | 171.6% |
| 2013 | 29.3% | 6.27% | 32.7% | 232.4% |
| 2014 | 31.6% | 12.6% | 21.6% | 204.5% |
| 2015 | 41.6% | 31.7% | 31.1% | 271.4% |
| 2016 | 27.8% | 41.1% | 30.9% | 251.2% |
| 2017 | 20.1% | 36.2% | 42.5% | 290.4% |
| 2018 | 19.1% | 40.6% | 26.4% | 267.1% |
| 2019 | 16.8% | 43.2% | 31.3% | 260.4% |
| 2020 | 16.2% | 49.4% | - | - |
| 2021 | 12.7% | 42.3% | - | - |
| 2022 | 14.8% | 29.8% | - | - |
| 2023 | 19.2% | 36.3% | - | - |
| 2024 | 19.7% | 36.2% | - | - |
| 2025 | 18.7% | 35.1% | - | - |
Government deficit by year
In 2011, Equatorial Guinea's government surplus, the difference between spending and revenue, was $178M, equivalent to 0.83% of GDP. This compares to Eritrea's deficit of -$114M, or -5.5% of GDP.
Over the past 20 years, Equatorial Guinea recorded a fiscal deficit in 10 of those years, while Eritrea ran a deficit in 16 years. On average, Equatorial Guinea posted an annual deficit equal to -64.2% of GDP, compared to deficit of -16.3% of GDP for Eritrea.
| Year | Deficit/surplus, % of GDP | |
|---|---|---|
|
Equatorial Guinea
|
Eritrea
|
|
| 1985 | -89.3% | - |
| 1986 | -97.3% | - |
| 1987 | -158% | - |
| 1988 | -208.5% | - |
| 1989 | -76.2% | - |
| 1990 | -160.2% | - |
| 1991 | -236% | - |
| 1992 | -557% | 6.85% |
| 1993 | -217.9% | 4.22% |
| 1994 | -487% | 8.69% |
| 1995 | -123.4% | -22.9% |
| 1996 | -6.36% | -18.4% |
| 1997 | 3.21% | -5.65% |
| 1998 | -7.65% | -40.3% |
| 1999 | -0.19% | -59.7% |
| 2000 | -2.67% | -25.4% |
| 2001 | 14.9% | -9.62% |
| 2002 | 17.6% | -13.3% |
| 2003 | 7.85% | 6.23% |
| 2004 | 13.9% | -7.65% |
| 2005 | 18.5% | -31% |
| 2006 | 21.8% | -15.5% |
| 2007 | 17.2% | -19.8% |
| 2008 | 14.6% | -38% |
| 2009 | -6.47% | -22.2% |
| 2010 | -4.53% | -16.5% |
| 2011 | 0.83% | -5.5% |
| 2012 | -7.24% | -5.21% |
| 2013 | -4.4% | -7.62% |
| 2014 | -7.54% | -0.12% |
| 2015 | -15.1% | -2.77% |
| 2016 | -10.9% | -1.44% |
| 2017 | -2.59% | -5.74% |
| 2018 | 0.52% | 5.22% |
| 2019 | 1.82% | 2.72% |
| 2020 | -1.77% | - |
| 2021 | 2.65% | - |
| 2022 | 11.7% | - |
| 2023 | 2.39% | - |
| 2024 | -1.23% | - |
| 2025 | -0.78% | - |
Inflation comparison by year
Over the past 24 years, Equatorial Guinea has recorded an average annual inflation rate of 4.13%, compared with 10.4% in Eritrea. In 2019, inflation was 2.9% in Equatorial Guinea and 1.3% in Eritrea.
| Year | Inflation | ||
|---|---|---|---|
|
Equatorial Guinea
|
Eritrea
|
Equatorial Guinea
|
Eritrea
|
| 1996 | 4.5% | 10.3% | |
| 1997 | 3% | 3.7% | |
| 1998 | 7.9% | 9.5% | |
| 1999 | 0.4% | 8.4% | |
| 2000 | 4.8% | 19.9% | |
| 2001 | 8.7% | 14.6% | |
| 2002 | 7.6% | 16.9% | |
| 2003 | 7.3% | 22.7% | |
| 2004 | 4.2% | 25.1% | |
| 2005 | 5.6% | 12.5% | |
| 2006 | 4.5% | 7.7% | |
| 2007 | 2.8% | 9.4% | |
| 2008 | 4.7% | 22.2% | |
| 2009 | 5.7% | 33.9% | |
| 2010 | 5.3% | 10.3% | |
| 2011 | 4.8% | 5.9% | |
| 2012 | 3.4% | 6% | |
| 2013 | 3.2% | 6.3% | |
| 2014 | 4.3% | 8.4% | |
| 2015 | 1.7% | 28.5% | |
| 2016 | 1.4% | -5.6% | |
| 2017 | 0.7% | -13.3% | |
| 2018 | 1.3% | -14.4% | |
| 2019 | 1.2% | 1.3% | |
| 2020 | 4.8% | - | |
| 2021 | -0.1% | - | |
| 2022 | 4.9% | - | |
| 2023 | 2.4% | - | |
| 2024 | 3.4% | - | |
| 2025 | 2.9% | - | |
Balance of trade
|
Equatorial Guinea
|
Eritrea
|
|
|---|---|---|
Current account balance
|
-$344M
1996 |
-$105M
2000 |
| Current account balance ranking |
99/189
1996 |
87/189
2000 |
| Current account balance, % of GDP |
-148%
1996 |
-14.8%
2000 |
| Goods imports |
$292M
1996 |
$471M
2000 |
| Goods exports |
$175M
1996 |
$36.8M
2000 |
| Service imports |
$185M
1996 |
$28.5M
2000 |
| Service exports |
$4.88M
1996 |
$60.9M
2000 |
| Imports of goods and services, % of GDP |
25.4%
2024 |
29.2%
2011 |
| Exports of goods and services, % of GDP |
35.2%
2024 |
18.2%
2011 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Equatorial Guinea
|
Eritrea
|
|
|---|---|---|
| Economic freedom | 47.7 | 38.6 |
| Economic freedom ranking | 175/197 | 188/197 |
| Property rights | 18.7 | 6.1 |
| Government integrity | 7.2 | 14.5 |
| Judicial effectiveness | 7.1 | 3.8 |
| Tax burden | 74.9 | 80.3 |
| Government spending | 92.5 | 62.3 |
| Fiscal health | 97.2 | 69 |
| Business freedom | 36.5 | 31.3 |
| Labor freedom | 44.9 | 43.4 |
| Monetary freedom | 74.3 | 63.9 |
| Trade freedom | 48.8 | 68.4 |
| Investment freedom | 40 | 0 |
| Financial freedom | 30 | 20 |
Economic freedom by year comparison
The Economic Freedom Index for Equatorial Guinea is 47.7, ranking 175/197, compared to 38.6 for Eritrea, ranking 188/197. The chart below displays a comparison of annual changes in economic freedom indexes.
| Year | Economic freedom index | |
|---|---|---|
|
Equatorial Guinea
|
Eritrea
|
|
| 1999 | 45.1 | - |
| 2000 | 45.6 | - |
| 2001 | 47.9 | - |
| 2002 | 46.4 | - |
| 2003 | 53.1 | - |
| 2004 | 53.3 | - |
| 2005 | 53.3 | - |
| 2006 | 51.5 | - |
| 2007 | 53.2 | - |
| 2008 | 51.6 | - |
| 2009 | 51.3 | 38.5 |
| 2010 | 48.6 | 35.3 |
| 2011 | 47.5 | 36.7 |
| 2012 | 42.8 | 36.2 |
| 2013 | 42.3 | 36.3 |
| 2014 | 44.4 | 38.5 |
| 2015 | 40.4 | 38.9 |
| 2016 | 43.7 | 42.7 |
| 2017 | 45 | 42.2 |
| 2018 | 42 | 41.7 |
| 2019 | 41 | 38.9 |
| 2020 | 48.3 | 38.5 |
| 2021 | 49.2 | 42.3 |
| 2022 | 47.2 | 39.7 |
| 2023 | 48.3 | 39.5 |
| 2024 | 47.7 | 39.5 |
| 2025 | 47.7 | 38.6 |
More economic indicators
|
Equatorial Guinea
|
Eritrea
|
|
|---|---|---|
| Services, % of GDP |
51.1%
2024 |
n/a |
| Industry, % of GDP |
45.8%
2024 |
21.8%
2009 |
| Agriculture, forestry, and fishing, % of GDP |
3.15%
2024 |
14.1%
2009 |
|
GNI, Atlas method
|
$8.96B
2024 |
$1.94B
2011 |
| GNI per capita, PPP |
$12,330
2024 |
$1,720
2011 |
| Total reserves including gold |
$1.54B
2023 |
$192M
2019 |
| Total reserves ranking |
134/177
2023 |
170/177
2019 |
|
Net foreign direct investment
|
-$376M
1996 |
-$27.9M
2000 |
|
Net inflows of foreign direct investment
|
$188M
2024 |
-$27.9M
2024 |
|
Net outflows of foreign direct investment
|
$154M
2024 |
-$27.9M
2000 |
|
Servicing debt to the IMF, % of GNI
|
n/a |
1.07%
2011 |
| Poverty at national poverty lines |
50.7%
2022 |
50%
2020 |
|
Gross capital formation, % of GDP
|
8.96%
2024 |
12.6%
2011 |
GDP per capita map
GDP per capita
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Economy comparisons
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.