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Economy of Equatorial Guinea vs Guinea compared: GDP & Debt

Updated on by Georank team

Equatorial Guinea has a GDP of $12.8B compared to $25B for Guinea, ranking 148/197 and 118/197 by economy size, respectively.

Equatorial Guinea has $4.65B in government debt (36.4% of GDP), compared to $12.2B (48.8% of GDP) in Guinea.

Equatorial Guinea vs Guinea GDP by year

Equatorial Guinea
Guinea
1x
Year GDP, current $
Equatorial Guinea Guinea
2024 $12,765,777,677 $25,008,678,293
2023 $12,337,550,584 $22,407,615,556
2022 $13,687,643,436 $19,910,452,542
2021 $12,215,878,033 $17,069,115,738
2020 $9,893,816,008 $14,088,693,743
2019 $11,364,133,550 $13,442,861,496
2018 $13,097,012,134 $11,857,030,367
2017 $12,200,913,879 $10,324,668,271
2016 $11,240,808,848 $8,595,955,222
2015 $13,185,496,881 $8,794,201,743
2014 $21,765,453,082 $8,778,473,373
2013 $21,948,834,284 $8,376,613,539
2012 $22,388,344,144 $7,638,044,557
2011 $21,357,343,669 $6,785,137,203
2010 $16,314,443,436 $6,853,467,146
2009 $15,027,795,173 $6,716,905,340
2008 $19,749,893,536 $6,964,179,983
2007 $13,071,718,759 $6,281,918,226
2006 $10,086,528,699 $4,220,019,845
2005 $8,217,369,093 $4,282,468,637
2004 $4,410,764,339 $5,300,767,961
2003 $2,484,745,935 $5,025,167,975
2002 $1,806,742,742 $4,301,608,753
2001 $1,461,139,022 $4,125,527,603
2000 $1,045,998,496 $4,367,458,867
1999 $621,117,886 $5,046,806,783
1998 $370,687,634 $5,232,118,046
1997 $442,337,871 $5,516,916,163
1996 $232,463,023 $5,641,243,100
1995 $141,853,361 $5,385,704,166
1994 $100,807,003 $4,932,800,407
1993 $136,047,906 $4,781,166,117
1992 $134,707,184 $4,789,220,417
1991 $110,906,029 $4,396,178,694
1990 $112,119,411 $3,888,320,666
1989 $88,265,975 $3,546,079,263
1988 $100,534,657 $3,476,480,303
1987 $93,345,860 $2,976,714,019
1986 $76,407,396 $2,909,130,355
1985 $62,118,570 $22,787,644,566
1984 $50,320,914 $18,421,497,251
1983 $44,442,457 $15,129,893,722
1982 $44,294,648 $11,926,032,493
1981 $36,731,423 $9,646,440,667
1980 $50,642,881 $9,746,524,915
1979 - $8,877,094,497
1978 - $8,087,305,999
1977 $103,987,520 $6,914,381,291
1976 $103,653,050 $6,762,781,871
1975 $104,295,643 $6,102,769,605
1974 $94,159,863 $5,691,417,541
1973 $81,203,227 $5,152,080,388
1972 $65,429,198 $4,203,069,035
1971 $64,946,955 $3,594,302,908
1970 $66,331,429 $3,220,224,608
1969 $67,225,714 -
1968 $67,514,286 -
1967 $72,317,447 -
1966 $69,110,000 -
1965 $64,748,333 -
1964 $51,915,000 -
1963 $44,266,667 -
1962 $37,253,333 -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

GDP per capita in Equatorial Guinea vs Guinea by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Guinea
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Guinea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,745 $17,567 $1,695 $4,565
2023 $6,678 $17,412 $1,555 $4,334
2022 $7,589 $18,140 $1,417 $4,062
2021 $6,946 $16,821 $1,245 $3,739
2020 $5,764 $13,677 $1,054 $3,332
2019 $6,804 $16,451 $1,031 $3,106
2018 $8,102 $18,413 $933 $2,844
2017 $7,809 $18,435 $834 $2,687
2016 $7,453 $16,649 $712 $2,255
2015 $9,069 $19,479 $747 $1,930
2014 $15,549 $27,177 $765 $1,873
2013 $16,304 $27,910 $748 $1,842
2012 $17,309 $30,012 $699 $1,790
2011 $17,198 $27,242 $637 $1,705
2010 $13,720 $26,168 $659 $1,622
2009 $13,233 $29,722 $662 $1,567
2008 $18,211 $30,523 $704 $1,614
2007 $12,617 $26,611 $650 $1,558
2006 $10,185 $23,511 $447 $1,453
2005 $8,674 $22,137 $463 $1,422
2004 $4,901 $19,354 $585 $1,366
2003 $2,931 $14,496 $566 $1,328
2002 $2,264 $13,255 $496 $1,315
2001 $1,949 $11,627 $483 $1,251
2000 $1,487 $7,420 $518 $1,196
1999 $931 $6,470 $611 $1,163
1998 $578 $5,280 $647 $1,130
1997 $717 $4,387 $696 $1,099
1996 $392 $1,793 $726 $1,048
1995 $248.3 $1,098 $713 $1,014
1994 $183.2 $951 $672 $976
1993 $256.7 $828 $671 $947
1992 $263.7 $756 $693 $908
1991 $225.3 $569 $656 $887
1990 $236.4 $577 $604 $871
1989 $193.2 - $570 -
1988 $228.7 - $574 -
1987 $220.9 - $505 -
1986 $188.8 - $506 -
1985 $161.1 - $4,062 -
1984 $137.9 - $3,362 -
1983 $129.4 - $2,823 -
1982 $137.5 - $2,273 -
1981 $121.1 - $1,876 -
1980 $175.5 - $1,931 -
1979 - - $1,790 -
1978 - - $1,658 -
1977 $376 - $1,440 -
1976 $369 - $1,431 -
1975 $362 - $1,311 -
1974 $319 - $1,243 -
1973 $268.6 - $1,143 -
1972 $211.4 - $948 -
1971 $205.6 - $825 -
1970 $206.8 - $753 -
1969 $208.4 - - -
1968 $211.7 - - -
1967 $231.9 - - -
1966 $226.7 - - -
1965 $217.1 - - -
1964 $177.8 - - -
1963 $154.8 - - -
1962 $132.9 - - -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $1,695 in Guinea, ranking 160/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Guinea ranks 161st at $4,565.

Economic indicators

Equatorial Guinea Guinea
Gross domestic product
$12.8B
2024
$25B
2024
GDP rank
148/197
2024
118/197
2024
GDP growth
0.91%
2023-2024
5.35%
2023-2024
GDP per capita
$6,745
2024
$1,695
2024
GDP per capita rank
106/197
2024
160/197
2024
GDP per capita, PPP
$17,567
2024
$4,565
2024
GDP per capita PPP rank
106/197
2024
161/197
2024
Government debt
$4.65B
2024
$12.2B
2024
Debt-to-GDP ratio
36.4%
2024
48.8%
2024
Government debt per person
$2,458
2024
$828
2024
Government debt per person rank
110/185
2024
147/185
2024
Average annual personal income after taxes
$5,042
2026
$20,020
2026
Income share by richest 10%
29.1%
2022
23.1%
2018
Income share by poorest 10%
2.6%
2022
3.5%
2018
Government expenditure, % of GDP
18.5%
2024
20.6%
2024
Consumer prices inflation
3.4%
2023-2024
4.7%
2023-2024
Unemployment rate
8.6%
2014
5.02%
2019
Population
1998075
15546235

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Guinea
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Guinea
Government spending Government debt Government spending Government debt
2024 18.5% 36.4% 20.6% 48.8%
2023 19.2% 39.1% 18.3% 40.4%
2022 14.8% 29.8% 15.7% 37.9%
2021 12.7% 42.3% 15.1% 40.6%
2020 16.2% 49.4% 17.1% 45.3%
2019 16.8% 43.2% 14.9% 37.3%
2018 19.1% 40.6% 15.9% 37.5%
2017 20.1% 36.2% 17.3% 39.9%
2016 27.8% 41.1% 16.1% 40.6%
2015 41.6% 31.7% 21.7% 41.5%
2014 31.6% 12.6% 20.1% 32.1%
2013 29.3% 6.27% 18.6% 30.5%
2012 35.2% 7.1% 19.6% 26.9%
2011 27.5% 7.17% 16% 53.8%
2010 31.2% 7.89% 20.5% 71.1%
2009 39.8% 4.34% 16.2% 61.3%
2008 19.9% 0.49% 10.1% 58.5%
2007 19.7% 0.75% 8.66% 60.8%
2006 18.1% 1.22% 13.2% 95.2%
2005 14.1% 2.85% 11% 97.9%
2004 15.5% 4.54% 13% 86.9%
2003 11.8% 6.77% 14.7% 81.6%
2002 11.3% 19.4% 14.4% 82.6%
2001 13.5% 25.5% 14.9% 90.4%
2000 22.6% 36.6% 12.6% 91.5%
1999 18.7% 60.5% 11.6% 92.3%
1998 35.1% 59.2% 10.3% 75.9%
1997 14.8% 46.3% 12.6% 67.9%
1996 22.9% 91.2% 12% 67.7%
1995 141.5% 136.9% 12.7% 66.5%
1994 510% 216% 12.6% 71.3%
1993 256.3% 152.6% 13.3% 68.9%
1992 595% 136.9% 13.8% 62%
1991 284.5% 169.5% 16.3% 70.9%
1990 212.9% 157% 18.7% 71.6%
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 (1985–1989, retrieved 2026-02-20).

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

In 2024, Equatorial Guinea's government spending was $2.36B, accounting for 18.5% of its GDP, while Guinea spent $5.14B, or 20.6% of GDP.

Debt-to-GDP ratio is 36.4% in Equatorial Guinea and 48.8% in Guinea, ranking 143/185 and 111/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Guinea
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Guinea
2024 -0.55% -4.99%
2023 2.39% -3.86%
2022 11.7% -1.88%
2021 2.65% -1.7%
2020 -1.77% -3.08%
2019 1.82% -0.17%
2018 0.52% -0.97%
2017 -2.59% -1.98%
2016 -10.9% -0.08%
2015 -15.1% -6.53%
2014 -7.54% -3.01%
2013 -4.4% -3.86%
2012 -7.24% 23.7%
2011 0.83% -0.92%
2010 -4.53% -9.66%
2009 -6.47% -4.87%
2008 14.6% 0.38%
2007 17.2% 1.28%
2006 21.8% -2.13%
2005 18.5% -1.06%
2004 9.22% -3.85%
2003 9.99% -4.65%
2002 17.6% -3.37%
2001 14.9% -3.23%
2000 -2.67% -2.42%
1999 -0.19% -1.3%
1998 -7.65% 2.46%
1997 3.21% 0.07%
1996 -6.36% -2.2%
1995 -123.4% -1.07%
1994 -487% -2.59%
1993 -217.9% -2.33%
1992 -557% -0.89%
1991 -236% -3.25%
1990 -160.2% -3.76%
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/equatorial-guinea/guinea | 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 Guinea's deficit of $1.25B, or 4.99% of GDP.

Over the past 35 years, Equatorial Guinea recorded a fiscal deficit in 20 of those years, while Guinea ran a deficit in 30 years. On average, Equatorial Guinea posted an annual deficit equal to 49% of GDP, compared to deficit of 1.65% of GDP for Guinea.

Inflation comparison by year

Inflation
Equatorial Guinea

Guinea
1x
Year Consumer prices inflation
Equatorial Guinea Guinea
2024 3.4% 4.7%
2023 2.4% 5.4%
2022 4.9% 10.5%
2021 -0.1% 12.6%
2020 4.8% 10.6%
2019 1.2% 9.5%
2018 1.3% 9.8%
2017 0.7% 8.9%
2016 1.4% 8.2%
2015 1.7% 8.2%
2014 4.3% 9.7%
2013 3.2% 11.9%
2012 3.4% 15.2%
2011 4.8% 21.4%
2010 5.3% 15.5%
2009 5.7% 4.7%
2008 4.7% 18.4%
2007 2.8% 22.9%
2006 4.5% 34.7%
2005 5.6% 31.4%
2004 4.2% 17.5%
2003 7.3% 11%
2002 7.6% 3%
2001 8.7% 5.4%
2000 4.8% 6.8%
1999 0.4% 4.6%
1998 7.9% 5.1%
1997 3% 1.9%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

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

Over the past 28 years, Equatorial Guinea has recorded an average annual inflation rate of 3.93%, compared with 11.8% in Guinea. In 2024, inflation was 3.4% in Equatorial Guinea and 4.7% in Guinea.

Top exports between countries

Equatorial Guinea
Export category Export value
Guinea
Export category Export value
Raw materials & minerals $5K

Balance of trade

Equatorial Guinea Guinea
Current account balance
-$344M
1996
-$392M
2024
Current account balance ranking
101/190
1996
104/190
2024
Current account balance, % of GDP
-148%
1996
-1.57%
2024
Goods imports
$292M
1996
$7.08B
2024
Goods exports
$175M
1996
$11.6B
2024
Service imports
$185M
1996
$3.15B
2024
Service exports
$4.88M
1996
$71.2M
2024
Imports of goods and services, % of GDP
25.4%
2024
56.4%
2024
Exports of goods and services, % of GDP
35.2%
2024
41.4%
2024

Economic freedom indices

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

Equatorial Guinea Guinea
Economic freedom 47.4 53.1
Economic freedom ranking 175/197 141/197
Property rights 16.9 21.3
Government integrity 6.9 26.7
Judicial effectiveness 7.2 26
Tax burden 81 70.1
Government spending 90.8 90.1
Fiscal health 97.3 74.8
Business freedom 35.9 44.8
Labor freedom 45.2 56.4
Monetary freedom 73.5 75.3
Trade freedom 43.6 61.8
Investment freedom 40 50
Financial freedom 30 40

Economic freedom comparison by year

Equatorial Guinea
Guinea
1x
Year Economic freedom index
Equatorial Guinea Guinea
2026 47.4 53.1
2025 47.7 54.6
2024 47.7 53.3
2023 48.3 53.2
2022 47.2 54.2
2021 49.2 56.5
2020 48.3 56.5
2019 41 55.7
2018 42 52.2
2017 45 47.6
2016 43.7 53.3
2015 40.4 52.1
2014 44.4 53.5
2013 42.3 51.2
2012 42.8 50.8
2011 47.5 51.7
2010 48.6 51.8
2009 51.3 51
2008 51.6 52.8
2007 53.2 54.5
2006 51.5 52.8
2005 53.3 57.4
2004 53.3 56.1
2003 53.1 54.6
2002 46.4 52.9
2001 47.9 58.4
2000 45.6 58.2
1999 45.1 59.4
1998 - 61
1997 - 52.9
1996 - 58.5
1995 - 59.4

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

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

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, compared to 53.1 for Guinea, ranking 141/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Equatorial Guinea Guinea
Services, % of GDP
51.1%
2024
36.3%
2024
Industry, % of GDP
45.8%
2024
25.1%
2024
Agriculture, forestry, and fishing, % of GDP
3.15%
2024
31%
2024
GNI, Atlas method
$8.96B
2024
$21.3B
2024
GNI per capita, PPP
$12,330
2024
$4,130
2024
Total reserves including gold
$1.54B
2023
$1.89B
2023
Total reserves ranking
134/177
2023
128/177
2023
Net foreign direct investment
-$376M
1996
-$1.4B
2024
Net inflows of foreign direct investment
$188M
2024
$1.4B
2024
Net outflows of foreign direct investment
$154M
2024
$30K
2024
Servicing debt to the IMF, % of GNI n/a
1.94%
2024
Poverty at national poverty lines
50.7%
2022
47%
2020
Gross capital formation, % of GDP
8.96%
2024
32.1%
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/guinea | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1962–2024, 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 (1985–1989, retrieved 2026-02-20)
  6. Central Intelligence Agency (CIA) (2014–2020, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. TradeMap (2016, retrieved 2026-02-08)

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.