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Economy of Equatorial Guinea vs Kenya compared: GDP & Debt

Updated on by Georank team

Equatorial Guinea has a GDP of $12.8B compared to $120B for Kenya, ranking 148/197 and 64/197 by economy size, respectively.

Equatorial Guinea has $4.65B in government debt (36.4% of GDP), compared to $81B (67.3% of GDP) in Kenya.

Equatorial Guinea vs Kenya GDP by year

Equatorial Guinea
Kenya
1x
Year GDP, current $
Equatorial Guinea Kenya
2024 $12,765,777,677 $120,339,557,906
2023 $12,337,550,584 $107,500,884,685
2022 $13,687,643,436 $114,448,978,153
2021 $12,215,878,033 $109,703,658,905
2020 $9,893,816,008 $100,657,505,751
2019 $11,364,133,550 $100,378,436,207
2018 $13,097,012,134 $92,202,979,985
2017 $12,200,913,879 $82,036,510,877
2016 $11,240,808,848 $74,815,144,164
2015 $13,185,496,881 $70,120,446,897
2014 $21,765,453,082 $68,285,796,514
2013 $21,948,834,284 $61,671,440,408
2012 $22,388,344,144 $56,396,704,672
2011 $21,357,343,669 $46,869,473,151
2010 $16,314,443,436 $45,405,615,064
2009 $15,027,795,173 $42,347,217,913
2008 $19,749,893,536 $35,895,153,328
2007 $13,071,718,759 $31,958,195,182
2006 $10,086,528,699 $25,825,512,284
2005 $8,217,369,093 $18,737,895,513
2004 $4,410,764,339 $16,095,337,094
2003 $2,484,745,935 $14,904,517,650
2002 $1,806,742,742 $13,147,736,899
2001 $1,461,139,022 $12,986,007,426
2000 $1,045,998,496 $12,705,350,098
1999 $621,117,886 $12,896,010,459
1998 $370,687,634 $14,093,998,844
1997 $442,337,871 $13,115,764,358
1996 $232,463,023 $12,045,865,396
1995 $141,853,361 $9,046,320,255
1994 $100,807,003 $7,148,148,564
1993 $136,047,906 $5,751,786,643
1992 $134,707,184 $8,209,120,763
1991 $110,906,029 $8,151,488,783
1990 $112,119,411 $8,572,359,038
1989 $88,265,975 $8,283,114,514
1988 $100,534,657 $8,355,380,879
1987 $93,345,860 $7,970,820,369
1986 $76,407,396 $7,239,126,568
1985 $62,118,570 $6,135,034,214
1984 $50,320,914 $6,191,437,070
1983 $44,442,457 $5,979,198,314
1982 $44,294,648 $6,431,579,357
1981 $36,731,423 $6,854,491,706
1980 $50,642,881 $7,265,315,820
1979 - $6,234,391,113
1978 - $5,303,735,111
1977 $103,987,520 $4,494,378,764
1976 $103,653,050 $3,474,542,392
1975 $104,295,643 $3,259,345,083
1974 $94,159,863 $2,969,958,812
1973 $81,203,227 $2,509,001,324
1972 $65,429,198 $2,107,279,157
1971 $64,946,955 $1,778,391,289
1970 $66,331,429 $1,603,447,359
1969 $67,225,714 $1,458,379,417
1968 $67,514,286 $1,353,295,459
1967 $72,317,447 $1,232,559,507
1966 $69,110,000 $1,164,519,674
1965 $64,748,333 $997,919,321
1964 $51,915,000 $998,759,334
1963 $44,266,667 $926,589,349
1962 $37,253,333 $868,111,401
1961 - $792,959,473
1960 - $791,265,459

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

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

GDP per capita in Equatorial Guinea vs Kenya by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Kenya
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Kenya
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,745 $17,567 $2,132 $6,644
2023 $6,678 $17,412 $1,943 $6,317
2022 $7,589 $18,140 $2,110 $5,883
2021 $6,946 $16,821 $2,061 $5,339
2020 $5,764 $13,677 $1,928 $4,793
2019 $6,804 $16,451 $1,960 $4,687
2018 $8,102 $18,413 $1,836 $4,412
2017 $7,809 $18,435 $1,667 $4,177
2016 $7,453 $16,649 $1,554 $3,917
2015 $9,069 $19,479 $1,489 $3,678
2014 $15,549 $27,177 $1,483 $3,359
2013 $16,304 $27,910 $1,371 $3,106
2012 $17,309 $30,012 $1,285 $2,847
2011 $17,198 $27,242 $1,096 $2,750
2010 $13,720 $26,168 $1,092 $2,635
2009 $13,233 $29,722 $1,048 $2,480
2008 $18,211 $30,523 $916 $2,459
2007 $12,617 $26,611 $840 $2,481
2006 $10,185 $23,511 $700 $2,330
2005 $8,674 $22,137 $523 $2,189
2004 $4,901 $19,354 $464 $2,066
2003 $2,931 $14,496 $443 $1,975
2002 $2,264 $13,255 $403 $1,940
2001 $1,949 $11,627 $411 $1,961
2000 $1,487 $7,420 $415 $1,907
1999 $931 $6,470 $434 $1,910
1998 $578 $5,280 $488 $1,895
1997 $717 $4,387 $467 $1,865
1996 $392 $1,793 $441 $1,875
1995 $248.3 $1,098 $340 $1,818
1994 $183.2 $951 $276.4 $1,754
1993 $256.7 $828 $229 $1,723
1992 $263.7 $756 $337 $1,728
1991 $225.3 $569 $345 $1,756
1990 $236.4 $577 $374 $1,729
1989 $193.2 - $374 -
1988 $228.7 - $391 -
1987 $220.9 - $387 -
1986 $188.8 - $364 -
1985 $161.1 - $320 -
1984 $137.9 - $334 -
1983 $129.4 - $335 -
1982 $137.5 - $374 -
1981 $121.1 - $413 -
1980 $175.5 - $454 -
1979 - - $403 -
1978 - - $355 -
1977 $376 - $311 -
1976 $369 - $248.9 -
1975 $362 - $241.2 -
1974 $319 - $227.2 -
1973 $268.6 - $198.6 -
1972 $211.4 - $172.6 -
1971 $205.6 - $150.9 -
1970 $206.8 - $141 -
1969 $208.4 - $133.3 -
1968 $211.7 - $128.7 -
1967 $231.9 - $121.9 -
1966 $226.7 - $119.8 -
1965 $217.1 - $106.9 -
1964 $177.8 - $111.3 -
1963 $154.8 - $107.4 -
1962 $132.9 - $104.6 -
1961 - - $99.3 -
1960 - - $102.8 -

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

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

Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $2,132 in Kenya, ranking 154/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Kenya ranks 149th at $6,644.

Economic indicators

Equatorial Guinea Kenya
Gross domestic product
$12.8B
2024
$120B
2024
GDP rank
148/197
2024
64/197
2024
GDP growth
0.91%
2023-2024
4.72%
2023-2024
GDP per capita
$6,745
2024
$2,132
2024
GDP per capita rank
106/197
2024
154/197
2024
GDP per capita, PPP
$17,567
2024
$6,644
2024
GDP per capita PPP rank
106/197
2024
149/197
2024
Government debt
$4.65B
2024
$81B
2024
Debt-to-GDP ratio
36.4%
2024
67.3%
2024
Government debt per person
$2,458
2024
$1,436
2024
Government debt per person rank
110/185
2024
133/185
2024
Average annual personal income after taxes
$5,042
2026
$3,229
2026
Market capitalization of domestic companies n/a
$15B
2024
Income share by richest 10%
29.1%
2022
30.1%
2022
Income share by poorest 10%
2.6%
2022
2.9%
2022
Government expenditure, % of GDP
18.5%
2024
23.3%
2024
Consumer prices inflation
3.4%
2023-2024
4.49%
2023-2024
Central bank interest rate n/a
9.25%
2025
Unemployment rate
8.6%
2014
5.44%
2022
Population
1998075
58955623

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Kenya
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Kenya
Government spending Government debt Government spending Government debt
2024 18.5% 36.4% 23.3% 67.3%
2023 19.2% 39.1% 22.7% 73.4%
2022 14.8% 29.8% 23.2% 67.8%
2021 12.7% 42.3% 24% 68.2%
2020 16.2% 49.4% 24.8% 68%
2019 16.8% 43.2% 24.4% 59.1%
2018 19.1% 40.6% 24.5% 56.4%
2017 20.1% 36.2% 25.2% 53.9%
2016 27.8% 41.1% 25.4% 50.4%
2015 41.6% 31.7% 23.8% 45.8%
2014 31.6% 12.6% 23.4% 41.3%
2013 29.3% 6.27% 23.2% 39.8%
2012 35.2% 7.1% 22.1% 37.6%
2011 27.5% 7.17% 20.1% 35.7%
2010 31.2% 7.89% 21.5% 36.7%
2009 39.8% 4.34% 20.3% 36%
2008 19.9% 0.49% 18.9% 34.3%
2007 19.7% 0.75% 18.1% 34.2%
2006 18.1% 1.22% 17.3% 37.1%
2005 14.1% 2.85% 16.2% 37.4%
2004 15.5% 4.54% 15.4% 40.8%
2003 11.8% 6.77% 16% 43.8%
2002 11.3% 19.4% 15.7% 42%
2001 13.5% 25.5% 14.9% 41.3%
2000 22.6% 36.6% 14.1% 43.1%
1999 18.7% 60.5% 13.7% 38.4%
1998 35.1% 59.2% 15.3% 38.5%
1997 14.8% 46.3% 15.6% 36%
1996 22.9% 91.2% 15.2% 40.5%
1995 141.5% 136.9% 17.3% 52.1%
1994 510% 216% 18.8% 57%
1993 256.3% 152.6% 18.9% 61.6%
1992 595% 136.9% 17.6% 41.2%
1991 284.5% 169.5% 16.4% 43%
1990 212.9% 157% 17.2% 37.6%
1989 116.8% 187% 16.3% 33.4%
1988 227.9% 154.5% 15.9% 33.9%
1987 183% 141.3% 15.5% 36.3%
1986 119% 152.5% 15.3% 31.3%
1985 115.4% 183.8% 15.6% 28.8%
1984 - - 14.9% 25.6%
1983 - - 14.6% 26.1%
1982 - - 16.2% 26.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-02-20).

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

In 2024, Equatorial Guinea's government spending was $2.36B, accounting for 18.5% of its GDP, while Kenya spent $28B, or 23.3% of GDP.

Debt-to-GDP ratio is 36.4% in Equatorial Guinea and 67.3% in Kenya, ranking 143/185 and 64/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Kenya
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Kenya
2024 -0.55% -5.77%
2023 2.39% -5.71%
2022 11.7% -6.06%
2021 2.65% -7.2%
2020 -1.77% -8.13%
2019 1.82% -7.42%
2018 0.52% -6.94%
2017 -2.59% -7.4%
2016 -10.9% -7.47%
2015 -15.1% -6.68%
2014 -7.54% -5.75%
2013 -4.4% -5.25%
2012 -7.24% -5.29%
2011 0.83% -3.64%
2010 -4.53% -3.67%
2009 -6.47% -3.12%
2008 14.6% -1.95%
2007 17.2% -0.95%
2006 21.8% -0.43%
2005 18.5% -0.19%
2004 9.22% 0.5%
2003 9.99% -0.73%
2002 17.6% -1.29%
2001 14.9% -0.53%
2000 -2.67% 0.38%
1999 -0.19% 0.84%
1998 -7.65% -0.03%
1997 3.21% -0.91%
1996 -6.36% -0.49%
1995 -123.4% -0.23%
1994 -487% -4.14%
1993 -217.9% -8.57%
1992 -557% -8.28%
1991 -236% -6.56%
1990 -160.2% -3.28%
1989 -76.2% -2.39%
1988 -208.5% -1.97%
1987 -158% -2.27%
1986 -97.3% -2.98%
1985 -89.3% -3.05%
1984 - -2.55%
1983 - -2.17%
1982 - -3.07%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

GeoRank.org/economy/equatorial-guinea/kenya | 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 Kenya's deficit of $6.94B, or 5.77% of GDP.

Over the past 40 years, Equatorial Guinea recorded a fiscal deficit in 25 of those years, while Kenya ran a deficit in 37 years. On average, Equatorial Guinea posted an annual deficit equal to 58.6% of GDP, compared to deficit of 3.62% of GDP for Kenya.

Inflation comparison by year

Inflation
Equatorial Guinea

Kenya
1x
Year Consumer prices inflation
Equatorial Guinea Kenya
2024 3.4% 4.49%
2023 2.4% 7.67%
2022 4.9% 7.66%
2021 -0.1% 6.11%
2020 4.8% 5.41%
2019 1.2% 5.24%
2018 1.3% 4.69%
2017 0.7% 8.01%
2016 1.4% 6.3%
2015 1.7% 6.58%
2014 4.3% 6.88%
2013 3.2% 5.72%
2012 3.4% 9.38%
2011 4.8% 14%
2010 5.3% 3.96%
2009 5.7% 9.23%
2008 4.7% 26.2%
2007 2.8% 9.76%
2006 4.5% 14.5%
2005 5.6% 10.3%
2004 4.2% 11.6%
2003 7.3% 9.82%
2002 7.6% 1.96%
2001 8.7% 5.74%
2000 4.8% 9.98%
1999 0.4% 5.74%
1998 7.9% 6.72%
1997 3% 11.4%

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/kenya | CC BY

Over the past 28 years, Equatorial Guinea has recorded an average annual inflation rate of 3.93%, compared with 8.39% in Kenya. In 2024, inflation was 3.4% in Equatorial Guinea and 4.49% in Kenya.

Top exports between countries

Equatorial Guinea
Export category Export value
Kenya
Export category Export value
Textiles & consumer goods $109K
Machinery & equipment $98K
Chemicals & pharma $72K
Raw materials & minerals $40K
Raw agricultural goods $15K
Processed food, beverages & tobacco $1K

Balance of trade

Equatorial Guinea Kenya
Current account balance
-$344M
1996
-$1.55B
2024
Current account balance ranking
101/190
1996
134/190
2024
Current account balance, % of GDP
-148%
1996
-1.29%
2024
Goods imports
$292M
1996
$22.2B
2024
Goods exports
$175M
1996
$12.5B
2024
Service imports
$185M
1996
$5.64B
2024
Service exports
$4.88M
1996
$8.04B
2024
Imports of goods and services, % of GDP
25.4%
2024
23.1%
2024
Exports of goods and services, % of GDP
35.2%
2024
17.1%
2024

Economic freedom indices

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

Equatorial Guinea Kenya
Economic freedom 47.4 55.5
Economic freedom ranking 175/197 128/197
Property rights 16.9 40.2
Government integrity 6.9 32.7
Judicial effectiveness 7.2 47
Tax burden 81 76.3
Government spending 90.8 84.1
Fiscal health 97.3 36.2
Business freedom 35.9 61.5
Labor freedom 45.2 56.5
Monetary freedom 73.5 75.1
Trade freedom 43.6 52
Investment freedom 40 55
Financial freedom 30 50

Economic freedom comparison by year

Equatorial Guinea
Kenya
1x
Year Economic freedom index
Equatorial Guinea Kenya
2026 47.4 55.5
2025 47.7 54.8
2024 47.7 53.6
2023 48.3 52.5
2022 47.2 52.6
2021 49.2 54.9
2020 48.3 55.3
2019 41 55.1
2018 42 54.7
2017 45 53.5
2016 43.7 57.5
2015 40.4 55.6
2014 44.4 57.1
2013 42.3 55.9
2012 42.8 57.5
2011 47.5 57.4
2010 48.6 57.5
2009 51.3 58.7
2008 51.6 59.3
2007 53.2 59.6
2006 51.5 59.7
2005 53.3 57.9
2004 53.3 57.7
2003 53.1 58.6
2002 46.4 58.2
2001 47.9 57.6
2000 45.6 59.7
1999 45.1 58.2
1998 - 58.4
1997 - 60.1
1996 - 56.4
1995 - 54.5

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

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

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, compared to 55.5 for Kenya, ranking 128/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Equatorial Guinea Kenya
Services, % of GDP
51.1%
2024
55.3%
2024
Industry, % of GDP
45.8%
2024
16.5%
2024
Agriculture, forestry, and fishing, % of GDP
3.15%
2024
22.5%
2024
GNI, Atlas method
$8.96B
2024
$118B
2024
GNI per capita, PPP
$12,330
2024
$6,540
2024
Total reserves including gold
$1.54B
2023
$10.1B
2024
Total reserves ranking
134/177
2023
75/177
2024
Net foreign direct investment
-$376M
1996
-$45.8M
2024
Net inflows of foreign direct investment
$188M
2024
$463M
2024
Net outflows of foreign direct investment
$154M
2024
$418M
2024
Servicing debt to the IMF, % of GNI n/a
4.79%
2024
Poverty at national poverty lines
50.7%
2022
39.8%
2022
Gross capital formation, % of GDP
8.96%
2024
16.8%
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/kenya | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2024, 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.