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Economy of Equatorial Guinea vs Ethiopia compared: GDP & Debt

Updated on by Georank team

Equatorial Guinea has a GDP of $12.8B compared to $150B for Ethiopia, ranking 148/197 and 60/197 by economy size, respectively.

Equatorial Guinea has $4.65B in government debt (36.4% of GDP), compared to $48.9B (32.7% of GDP) in Ethiopia.

Equatorial Guinea vs Ethiopia GDP by year

Equatorial Guinea
Ethiopia
1x
Year GDP, current $
Equatorial Guinea Ethiopia
2024 $12,765,777,677 $149,740,297,953
2023 $12,337,550,584 $135,874,093,202
2022 $13,687,643,436 $123,140,304,666
2021 $12,215,878,033 $109,070,960,372
2020 $9,893,816,008 $98,676,811,061
2019 $11,364,133,550 $91,834,517,113
2018 $13,097,012,134 $83,337,901,072
2017 $12,200,913,879 $76,366,081,767
2016 $11,240,808,848 $68,475,871,210
2015 $13,185,496,881 $62,103,418,182
2014 $21,765,453,082 $55,612,228,234
2013 $21,948,834,284 $47,648,276,605
2012 $22,388,344,144 $43,310,721,414
2011 $21,357,343,669 $31,952,763,089
2010 $16,314,443,436 $29,933,790,334
2009 $15,027,795,173 $32,437,389,116
2008 $19,749,893,536 $27,066,912,635
2007 $13,071,718,759 $19,707,616,773
2006 $10,086,528,699 $15,280,861,835
2005 $8,217,369,093 $12,401,139,454
2004 $4,410,764,339 $10,131,187,261
2003 $2,484,745,935 $8,623,691,300
2002 $1,806,742,742 $7,850,809,498
2001 $1,461,139,022 $8,231,326,016
2000 $1,045,998,496 $8,242,349,618
1999 $621,117,886 $7,892,973,532
1998 $370,687,634 $8,013,274,132
1997 $442,337,871 $8,803,539,988
1996 $232,463,023 $8,761,215,548
1995 $141,853,361 $7,855,205,207
1994 $100,807,003 $7,100,806,754
1993 $136,047,906 $9,051,043,870
1992 $134,707,184 $10,754,799,037
1991 $110,906,029 $13,799,799,324
1990 $112,119,411 $12,478,943,895
1989 $88,265,975 $11,762,932,007
1988 $100,534,657 $11,181,119,718
1987 $93,345,860 $10,790,001,558
1986 $76,407,396 $10,094,328,898
1985 $62,118,570 $9,717,392,687
1984 $50,320,914 $8,298,309,581
1983 $44,442,457 $8,781,664,427
1982 $44,294,648 $7,899,988,841
1981 $36,731,423 $7,507,663,567
1980 $50,642,881 $7,012,585,454
1979 - $6,586,048,398
1978 - $6,014,961,435
1977 $103,987,520 $5,651,840,585
1976 $103,653,050 $4,943,806,093
1975 $104,295,643 $4,577,047,854
1974 $94,159,863 $4,577,209,966
1973 $81,203,227 $4,070,570,550
1972 $65,429,198 $3,520,252,938
1971 $64,946,955 $3,224,280,835
1970 $66,331,429 $3,045,354,455
1969 $67,225,714 $2,768,987,372
1968 $67,514,286 $2,619,948,865
1967 $72,317,447 $2,461,762,003
1966 $69,110,000 $2,324,466,416
1965 $64,748,333 $2,159,998,591
1964 $51,915,000 $1,984,129,186
1963 $44,266,667 $1,825,058,828
1962 $37,253,333 $1,747,566,307
1961 - $1,680,859,514
1960 - $1,610,511,694

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

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

GDP per capita in Equatorial Guinea vs Ethiopia by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Ethiopia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Ethiopia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,745 $17,567 $1,134 $3,288
2023 $6,678 $17,412 $1,056 $3,061
2022 $7,589 $18,140 $982 $2,845
2021 $6,946 $16,821 $893 $2,588
2020 $5,764 $13,677 $830 $2,407
2019 $6,804 $16,451 $793 $2,242
2018 $8,102 $18,413 $740 $2,095
2017 $7,809 $18,435 $696 $2,005
2016 $7,453 $16,649 $642 $1,858
2015 $9,069 $19,479 $598 $1,633
2014 $15,549 $27,177 $550 $1,485
2013 $16,304 $27,910 $484 $1,253
2012 $17,309 $30,012 $452 $1,179
2011 $17,198 $27,242 $343 $1,098
2010 $13,720 $26,168 $331 $996
2009 $13,233 $29,722 $369 $899
2008 $18,211 $30,523 $316 $845
2007 $12,617 $26,611 $237.1 $770
2006 $10,185 $23,511 $189.3 $693
2005 $8,674 $22,137 $158.2 $625
2004 $4,901 $19,354 $133.2 $558
2003 $2,931 $14,496 $116.8 $493
2002 $2,264 $13,255 $109.6 $509
2001 $1,949 $11,627 $118.5 $509
2000 $1,487 $7,420 $122.3 $474
1999 $931 $6,470 $120.7 $450
1998 $578 $5,280 $126.5 $436
1997 $717 $4,387 $143.4 $461
1996 $392 $1,793 $147.3 $453
1995 $248.3 $1,098 $136.5 $409
1994 $183.2 $951 $127.7 $391
1993 $256.7 $828 $168.5 $384
1992 $263.7 $756 $207.4 $343
1991 $225.3 $569 $277.6 $383
1990 $236.4 $577 $262.1 $417
1989 $193.2 - $256.4 -
1988 $228.7 - $253.2 -
1987 $220.9 - $254.1 -
1986 $188.8 - $246 -
1985 $161.1 - $243.9 -
1984 $137.9 - $214.2 -
1983 $129.4 - $232.7 -
1982 $137.5 - $215.3 -
1981 $121.1 - $212.7 -
1980 $175.5 - $203.7 -
1979 - - $192.4 -
1978 - - $178.3 -
1977 $376 - $170.4 -
1976 $369 - $152 -
1975 $362 - $144.3 -
1974 $319 - $147.9 -
1973 $268.6 - $134.9 -
1972 $211.4 - $119.8 -
1971 $205.6 - $112.7 -
1970 $206.8 - $109.4 -
1969 $208.4 - $102.3 -
1968 $211.7 - $99.5 -
1967 $231.9 - $96.1 -
1966 $226.7 - $93.2 -
1965 $217.1 - $88.9 -
1964 $177.8 - $83.8 -
1963 $154.8 - $79.2 -
1962 $132.9 - $77.8 -
1961 - - $76.7 -
1960 - - $75.3 -

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

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

Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $1,134 in Ethiopia, ranking 171/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Ethiopia ranks 175th at $3,288.

Economic indicators

Equatorial Guinea Ethiopia
Gross domestic product
$12.8B
2024
$150B
2024
GDP rank
148/197
2024
60/197
2024
GDP growth
0.91%
2023-2024
7.61%
2023-2024
GDP per capita
$6,745
2024
$1,134
2024
GDP per capita rank
106/197
2024
171/197
2024
GDP per capita, PPP
$17,567
2024
$3,288
2024
GDP per capita PPP rank
106/197
2024
175/197
2024
Government debt
$4.65B
2024
$48.9B
2024
Debt-to-GDP ratio
36.4%
2024
32.7%
2024
Government debt per person
$2,458
2024
$370
2024
Government debt per person rank
110/185
2024
172/185
2024
Average annual personal income after taxes
$5,042
2026
$1,946
2026
Income share by richest 10%
29.1%
2022
24.8%
2021
Income share by poorest 10%
2.6%
2022
3.5%
2021
Government expenditure, % of GDP
18.5%
2024
9.54%
2024
Consumer prices inflation
3.4%
2023-2024
21%
2023-2024
Unemployment rate
8.6%
2014
3.94%
2021
Population
1998075
139917664

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Ethiopia
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Ethiopia
Government spending Government debt Government spending Government debt
2024 18.5% 36.4% 9.54% 32.7%
2023 19.2% 39.1% 10.8% 38.7%
2022 14.8% 29.8% 12.7% 46.9%
2021 12.7% 42.3% 13.8% 53.8%
2020 16.2% 49.4% 14.5% 53.7%
2019 16.8% 43.2% 15.4% 54.7%
2018 19.1% 40.6% 16.1% 58.4%
2017 20.1% 36.2% 18% 55.3%
2016 27.8% 41.1% 17.9% 51.8%
2015 41.6% 31.7% 17.3% 50.7%
2014 31.6% 12.6% 17.5% 44.2%
2013 29.3% 6.27% 17.8% 44.1%
2012 35.2% 7.1% 16.6% 39.4%
2011 27.5% 7.17% 18.2% 44.6%
2010 31.2% 7.89% 18.5% 39.4%
2009 39.8% 4.34% 17.1% 30%
2008 19.9% 0.49% 18.8% 56.1%
2007 19.7% 0.75% 20.5% 55.7%
2006 18.1% 1.22% 22.1% 79.6%
2005 14.1% 2.85% 22.9% 78.2%
2004 15.5% 4.54% 23.1% 103.1%
2003 11.8% 6.77% 27% 103.7%
2002 11.3% 19.4% 24.9% 107.4%
2001 13.5% 25.5% 22.4% 97.3%
2000 22.6% 36.6% 25.6% 93.6%
1999 18.7% 60.5% 25.8% 94.3%
1998 35.1% 59.2% 20.4% 86%
1997 14.8% 46.3% 17.3% 77.4%
1996 22.9% 91.2% 18.2% 129%
1995 141.5% 136.9% 16.9% 142.3%
1994 510% 216% 17.1% 150.7%
1993 256.3% 152.6% 13.4% 136.9%
1992 595% 136.9% 13.8% 85.4%
1991 284.5% 169.5% 16.8% 89.3%
1990 212.9% 157% 20.3% 91.6%
1989 116.8% 187% 24% 84.7%
1988 227.9% 154.5% 21.6% 84.3%
1987 183% 141.3% 18.4% 82.3%
1986 119% 152.5% 19.8% 75.7%
1985 115.4% 183.8% 19.7% 67.7%
1984 - - 18.8% 65.4%
1983 - - 21.3% 55.2%
1982 - - 16.4% 48.8%
1981 - - 14.2% 30.6%
1980 - - 13.5% 18.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1991, retrieved 2026-02-20).

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

In 2024, Equatorial Guinea's government spending was $2.36B, accounting for 18.5% of its GDP, while Ethiopia spent $14.3B, or 9.54% of GDP.

Debt-to-GDP ratio is 36.4% in Equatorial Guinea and 32.7% in Ethiopia, ranking 143/185 and 150/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Ethiopia
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Ethiopia
2024 -0.55% -1.99%
2023 2.39% -2.6%
2022 11.7% -4.16%
2021 2.65% -2.77%
2020 -1.77% -2.76%
2019 1.82% -2.53%
2018 0.52% -3.03%
2017 -2.59% -3.24%
2016 -10.9% -2.3%
2015 -15.1% -1.95%
2014 -7.54% -2.58%
2013 -4.4% -1.93%
2012 -7.24% -1.17%
2011 0.83% -1.61%
2010 -4.53% -1.32%
2009 -6.47% -0.93%
2008 14.6% -2.88%
2007 17.2% -3.57%
2006 21.8% -3.79%
2005 18.5% -4.12%
2004 9.22% -2.65%
2003 9.99% -5.59%
2002 17.6% -5.76%
2001 14.9% -3.76%
2000 -2.67% -8.88%
1999 -0.19% -8.23%
1998 -7.65% -3.51%
1997 3.21% -1.7%
1996 -6.36% -3.81%
1995 -123.4% -2.68%
1994 -487% -5.23%
1993 -217.9% -4%
1992 -557% -4.78%
1991 -236% -5.83%
1990 -160.2% -6.66%
1989 -76.2% -4.33%
1988 -208.5% -3.48%
1987 -158% -3.54%
1986 -97.3% -3.98%
1985 -89.3% -4.71%
1984 - -3.69%
1983 - -7.59%
1982 - -3.6%
1981 - -2.19%
1980 - -2.56%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

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

In 2024, Equatorial Guinea's government deficit, the difference between spending and revenue, was $70.8M, equivalent to 0.55% of GDP. This compares to Ethiopia's deficit of $2.98B, or 1.99% of GDP.

Over the past 40 years, Equatorial Guinea recorded a fiscal deficit in 25 of those years, while Ethiopia ran a deficit in 40 years. On average, Equatorial Guinea posted an annual deficit equal to 58.6% of GDP, compared to deficit of 3.61% of GDP for Ethiopia.

Inflation comparison by year

Inflation
Equatorial Guinea

Ethiopia
1x
Year Consumer prices inflation
Equatorial Guinea Ethiopia
2024 3.4% 21%
2023 2.4% 30.2%
2022 4.9% 33.9%
2021 -0.1% 26.8%
2020 4.8% 20.4%
2019 1.2% 15.8%
2018 1.3% 13.8%
2017 0.7% 10.7%
2016 1.4% 6.63%
2015 1.7% 9.57%
2014 4.3% 6.89%
2013 3.2% 7.46%
2012 3.4% 23.6%
2011 4.8% 33.2%
2010 5.3% 8.15%
2009 5.7% 8.48%
2008 4.7% 44.4%
2007 2.8% 17.2%
2006 4.5% 12.3%
2005 5.6% 9.97%
2004 4.2% 3.33%
2003 7.3% 13.7%
2002 7.6% 0.68%
2001 8.7% -8.24%
2000 4.8% 0.66%
1999 0.4% 7.94%
1998 7.9% 0.89%
1997 3% 2.4%

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/equatorial-guinea/ethiopia | CC BY

Over the past 28 years, Equatorial Guinea has recorded an average annual inflation rate of 3.93%, compared with 13.6% in Ethiopia. In 2024, inflation was 3.4% in Equatorial Guinea and 21% in Ethiopia.

Top exports between countries

Equatorial Guinea
Export category Export value
Ethiopia
Export category Export value
Machinery & equipment $1.27M
Weapons & explosives $142K
Textiles & consumer goods $8K
Raw agricultural goods $5K

Balance of trade

Equatorial Guinea Ethiopia
Current account balance
-$344M
1996
-$3.79B
2024
Current account balance ranking
101/190
1996
160/190
2024
Current account balance, % of GDP
-148%
1996
-2.53%
2024
Goods imports
$292M
1996
$19.6B
2024
Goods exports
$175M
1996
$5.58B
2024
Service imports
$185M
1996
$5.51B
2024
Service exports
$4.88M
1996
$7.61B
2024
Imports of goods and services, % of GDP
25.4%
2024
11.9%
2024
Exports of goods and services, % of GDP
35.2%
2024
5.54%
2024

Economic freedom indices

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

Equatorial Guinea Ethiopia
Economic freedom 47.4 48.1
Economic freedom ranking 175/197 171/197
Property rights 16.9 22.1
Government integrity 6.9 33.2
Judicial effectiveness 7.2 19.1
Tax burden 81 78.6
Government spending 90.8 96.4
Fiscal health 97.3 84.3
Business freedom 35.9 44.5
Labor freedom 45.2 37.8
Monetary freedom 73.5 53.7
Trade freedom 43.6 57.4
Investment freedom 40 30
Financial freedom 30 20

Economic freedom comparison by year

Equatorial Guinea
Ethiopia
1x
Year Economic freedom index
Equatorial Guinea Ethiopia
2026 47.4 48.1
2025 47.7 48.1
2024 47.7 47.9
2023 48.3 48.3
2022 47.2 49.6
2021 49.2 51.7
2020 48.3 53.6
2019 41 53.6
2018 42 52.8
2017 45 52.7
2016 43.7 51.5
2015 40.4 51.5
2014 44.4 50
2013 42.3 49.4
2012 42.8 52
2011 47.5 50.5
2010 48.6 51.2
2009 51.3 53
2008 51.6 52.5
2007 53.2 53.6
2006 51.5 50.9
2005 53.3 51.1
2004 53.3 54.5
2003 53.1 48.8
2002 46.4 49.8
2001 47.9 48.9
2000 45.6 50.2
1999 45.1 46.7
1998 - 49.2
1997 - 48.1
1996 - 45.9
1995 - 42.6

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

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

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, compared to 48.1 for Ethiopia, ranking 171/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Equatorial Guinea Ethiopia
Services, % of GDP
51.1%
2024
37.5%
2024
Industry, % of GDP
45.8%
2024
25.4%
2024
Agriculture, forestry, and fishing, % of GDP
3.15%
2024
34.8%
2024
GNI, Atlas method
$8.96B
2024
$146B
2024
GNI per capita, PPP
$12,330
2024
$3,280
2024
Total reserves including gold
$1.54B
2023
$3.78B
2024
Total reserves ranking
134/177
2023
109/177
2024
Net foreign direct investment
-$376M
1996
-$4.02B
2024
Net inflows of foreign direct investment
$188M
2024
$4.02B
2024
Net outflows of foreign direct investment
$154M
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
0.91%
2024
Poverty at national poverty lines
50.7%
2022
33.1%
2021
Gross capital formation, % of GDP
8.96%
2024
20.6%
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/equatorial-guinea/ethiopia | CC BY

Compare countries by 7 more topics

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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. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1991, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (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.