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Economy of Equatorial Guinea vs Liberia compared: GDP & Debt

Updated on by Georank

Equatorial Guinea has a GDP of $12.8B compared to $5.25B for Liberia, ranking 150/197 and 162/197 by economy size, respectively.

Equatorial Guinea has $5.21B in government debt (40.6% of GDP), compared to $2.88B (54.9% of GDP) in Liberia.

Equatorial Guinea vs Liberia GDP by year

Equatorial Guinea
Liberia
1x
Year GDP, current $
Equatorial Guinea Liberia
2025 $12,823,210,426 $5,245,938,900
2024 $13,254,388,261 $4,779,300,900
2023 $12,541,814,273 $4,390,000,000
2022 $13,687,643,436 $4,001,047,000
2021 $12,215,878,033 $3,513,049,500
2020 $9,893,816,008 $3,176,126,300
2019 $11,364,133,550 $3,319,596,500
2018 $13,097,012,134 $3,422,754,800
2017 $12,200,913,879 $3,390,703,400
2016 $11,240,808,848 $3,398,419,600
2015 $13,185,496,881 $3,227,075,700
2014 $21,765,453,082 $3,225,652,000
2013 $21,948,834,284 $3,177,198,100
2012 $22,388,344,144 $2,791,614,000
2011 $21,357,343,669 $2,398,000,000
2010 $16,314,443,436 $1,998,000,000
2009 $15,027,795,173 $1,768,000,000
2008 $19,749,893,536 $1,726,000,000
2007 $13,071,718,759 $1,373,000,000
2006 $10,086,528,699 $1,119,000,000
2005 $8,217,369,093 $949,000,000
2004 $4,410,764,339 $897,000,000
2003 $2,484,745,935 $748,000,000
2002 $1,806,742,742 $927,000,000
2001 $1,461,139,022 $906,000,000
2000 $1,045,998,496 $874,000,000
1999 $621,117,886 $441,800,000
1998 $370,687,634 $359,600,000
1997 $442,337,871 $295,900,000
1996 $232,463,023 $159,400,000
1995 $141,853,361 $134,800,000
1994 $100,807,003 $132,200,000
1993 $136,047,906 $160,400,000
1992 $134,707,184 $223,500,000
1991 $110,906,029 $348,000,000
1990 $112,119,411 $384,400,000
1989 $88,265,975 $786,300,000
1988 $100,534,657 $1,038,300,000
1987 $93,345,860 $972,800,000
1986 $76,407,396 $840,964,400
1985 $62,118,570 $851,296,100
1984 $50,320,914 $848,478,300
1983 $44,442,457 $823,374,900
1982 $44,294,648 $863,933,200
1981 $36,731,423 $846,514,500
1980 $50,642,881 $854,711,500
1979 - $814,067,900
1978 - $717,240,400
1977 $103,987,520 $673,010,600
1976 $103,653,050 $596,675,700
1975 $104,295,643 $577,549,300
1974 $94,159,863 $486,955,000
1973 $81,203,227 $386,968,300
1972 $65,429,198 $368,098,000
1971 $64,946,955 $341,543,100
1970 $66,331,429 $323,099,700
1969 $67,225,714 $306,961,800
1968 $67,514,286 $276,820,700
1967 $72,317,447 $261,024,300
1966 $69,110,000 $244,459,500
1965 $64,748,333 $229,260,800
1964 $51,915,000 $218,929,100
1963 $44,266,667 $200,229,600
1962 $37,253,333 $191,861,800
1961 - $183,920,900
1960 - $190,495,600

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Equatorial Guinea vs Liberia by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Liberia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Liberia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $6,615 - $915 -
2024 $7,004 $17,567 $851 $1,871
2023 $6,788 $17,412 $799 $1,795
2022 $7,589 $18,140 $745 $1,692
2021 $6,946 $16,821 $668 $1,539
2020 $5,764 $13,677 $617 $1,660
2019 $6,804 $16,451 $658 $1,900
2018 $8,102 $18,413 $692 $1,800
2017 $7,809 $18,435 $699 $1,665
2016 $7,453 $16,649 $715 $1,490
2015 $9,069 $19,479 $693 $1,340
2014 $15,549 $27,177 $707 $1,419
2013 $16,304 $27,910 $711 $1,360
2012 $17,309 $30,012 $638 $1,157
2011 $17,198 $27,242 $568 $1,041
2010 $13,720 $26,168 $492 $980
2009 $13,233 $29,722 $448 $939
2008 $18,211 $30,523 $452 $915
2007 $12,617 $26,611 $374 $873
2006 $10,185 $23,511 $321 $815
2005 $8,674 $22,137 $287.5 $774
2004 $4,901 $19,354 $284.1 $745
2003 $2,931 $14,496 $239.8 $716
2002 $2,264 $13,255 $299.5 $1,013
2001 $1,949 $11,627 $300 $987
2000 $1,487 $7,420 $298.5 $965
1999 $931 $6,470 $156.6 $762
1998 $578 $5,280 $134.7 $652
1997 $717 $4,387 $122.6 $548
1996 $392 $1,793 $71.4 $282.2
1995 $248.3 $1,098 $62.1 $254.4
1994 $183.2 $951 $61.5 $262.6
1993 $256.7 $828 $74.4 $328
1992 $263.7 $756 $107.8 $497
1991 $225.3 $569 $177.9 $793
1990 $236.4 $577 $172.9 $787
1989 $193.2 - $312 -
1988 $228.7 - $424 -
1987 $220.9 - $409 -
1986 $188.8 - $364 -
1985 $161.1 - $380 -
1984 $137.9 - $390 -
1983 $129.4 - $391 -
1982 $137.5 - $422 -
1981 $121.1 - $426 -
1980 $175.5 - $443 -
1979 - - $435 -
1978 - - $394 -
1977 $376 - $381 -
1976 $369 - $347 -
1975 $362 - $346 -
1974 $319 - $299.4 -
1973 $268.6 - $244.4 -
1972 $211.4 - $238.6 -
1971 $205.6 - $227.1 -
1970 $206.8 - $220.3 -
1969 $208.4 - $214.7 -
1968 $211.7 - $198.6 -
1967 $231.9 - $192.2 -
1966 $226.7 - $184.6 -
1965 $217.1 - $177.6 -
1964 $177.8 - $173.9 -
1963 $154.8 - $163.1 -
1962 $132.9 - $160.3 -
1961 - - $157.5 -
1960 - - $167.2 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Equatorial Guinea's GDP per capita is $6,615, ranking 107/197, compared to $915 in Liberia, ranking 184/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Liberia ranks 188th at $1,871.

Economic indicators

Equatorial Guinea Liberia
Gross domestic product
$12.8B
2025
$5.25B
2025
GDP rank
150/197
2025
162/197
2025
GDP growth
-5.85%
2024-2025
5.02%
2024-2025
GDP per capita
$6,615
2025
$915
2025
GDP per capita rank
107/197
2025
184/197
2025
GDP per capita, PPP
$17,567
2024
$1,871
2024
GDP per capita PPP rank
106/197
2024
188/197
2024
Government debt
$5.21B
2025
$2.88B
2025
Debt-to-GDP ratio
40.6%
2025
54.9%
2025
Government debt per person
$2,686
2025
$502
2025
Government debt per person rank
109/185
2025
167/185
2025
Average annual personal income after taxes
$4,723
2026
$1,467
2026
Income share by richest 10%
29.1%
2022
27.1%
2016
Income share by poorest 10%
2.6%
2022
2.9%
2016
Government expenditure, % of GDP
20.7%
2025
22.4%
2025
Consumer prices inflation
2.8%
2024-2025
8.3%
2024-2025
Unemployment rate
8.6%
2014
5.93%
2017
Population
2008950
5916561

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Liberia
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Liberia
Government spending Government debt Government spending Government debt
2025 20.7% 40.6% 22.4% 54.9%
2024 18.5% 36.4% 24.1% 56.4%
2023 19.2% 39.1% 28.6% 57.2%
2022 14.8% 29.8% 27.4% 54.4%
2021 12.7% 42.3% 29.8% 53.5%
2020 16.2% 49.4% 35.3% 58.5%
2019 16.8% 43.2% 32.3% 48.1%
2018 19.1% 40.6% 32.7% 36.2%
2017 20.1% 36.2% 35.1% 31.8%
2016 27.8% 41.1% 35.8% 28%
2015 41.6% 31.7% 37.1% 24.4%
2014 31.6% 12.6% 33.4% 24.3%
2013 29.3% 6.27% 27.4% 20.6%
2012 35.2% 7.1% 30.8% 20.5%
2011 27.5% 7.17% 29.8% 22.5%
2010 31.2% 7.89% 25.1% 25.4%
2009 39.8% 4.34% 24% 132.2%
2008 19.9% 0.49% 21.8% 235.3%
2007 19.7% 0.75% 16.1% 367%
2006 18.1% 1.22% 10.6% 451%
2005 14.1% 2.85% 11.7% 488%
2004 15.5% 4.54% 12.1% 543%
2003 11.8% 6.77% 8.98% 600%
2002 11.3% 19.4% 12.7% 464%
2001 13.5% 25.5% 12.1% 465%
2000 22.6% 36.6% 14.5% 468%
1999 18.7% 60.5% - -
1998 35.1% 59.2% - -
1997 14.8% 46.3% - -
1996 22.9% 91.2% - -
1995 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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-07-08).

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

In 2025, Equatorial Guinea's government spending was $2.65B, accounting for 20.7% of its GDP, while Liberia spent $1.18B, or 22.4% of GDP.

Debt-to-GDP ratio is 40.6% in Equatorial Guinea and 54.9% in Liberia, ranking 132/185 and 90/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Liberia
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Liberia
2025 -2.55% -1.41%
2024 -0.55% -1.8%
2023 2.39% -8.55%
2022 11.7% -5.82%
2021 2.65% -2.5%
2020 -1.77% -4.02%
2019 1.82% -4.92%
2018 0.52% -4.7%
2017 -2.59% -7.14%
2016 -10.9% -3.83%
2015 -15.1% -3.74%
2014 -7.54% -4.92%
2013 -4.4% 1.29%
2012 -7.24% -2.86%
2011 0.83% -4.39%
2010 -4.53% 1.16%
2009 -6.47% -1.4%
2008 14.6% -2.7%
2007 17.2% 2.28%
2006 21.8% 4.23%
2005 18.5% -0.51%
2004 9.22% -0.56%
2003 9.99% 0.36%
2002 17.6% -1.57%
2001 14.9% -0.94%
2000 -2.67% -0.08%
1999 -0.19% -
1998 -7.65% -
1997 3.21% -
1996 -6.36% -
1995 -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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-07-08).

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

In 2025, Equatorial Guinea's government deficit, the difference between spending and revenue, was $327M, equivalent to 2.55% of GDP. This compares to Liberia's deficit of $74.2M, or 1.41% of GDP.

Over the past 26 years, Equatorial Guinea recorded a fiscal deficit in 12 of those years, while Liberia ran a deficit in 21 years. On average, Equatorial Guinea posted an annual surplus equal to 2.98% of GDP, compared to deficit of 2.27% of GDP for Liberia.

Inflation comparison by year

Inflation
Equatorial Guinea

Liberia
1x
Year Consumer prices inflation
Equatorial Guinea Liberia
2025 2.8% 8.3%
2024 3.4% 8.2%
2023 2.4% 10.1%
2022 4.9% 7.6%
2021 -0.1% 7.8%
2020 4.8% 17%
2019 1.2% 27%
2018 1.3% 23.5%
2017 0.7% 12.4%
2016 1.4% 8.8%
2015 1.7% 7.7%
2014 4.3% 9.9%
2013 3.2% 7.6%
2012 3.4% 6.8%
2011 4.8% 8.5%
2010 5.3% 7.3%
2009 5.7% 7.4%
2008 4.7% 17.5%
2007 2.8% 11.4%
2006 4.5% 9.5%
2005 5.6% 6.9%
2004 4.2% 3.6%
2003 7.3% 10.3%
2002 7.6% 14.2%
2001 8.7% 12.1%
2000 4.8% 5.3%
1999 0.4% 2%
1998 7.9% -
1997 3% -

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08).

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

Over the past 27 years, Equatorial Guinea has recorded an average annual inflation rate of 3.77%, compared with 10.3% in Liberia. In 2025, inflation was 2.8% in Equatorial Guinea and 8.3% in Liberia.

Top exports between countries

Equatorial Guinea
Export category Export value
Liberia
Export category Export value
Raw materials & minerals $12K

Balance of trade

Equatorial Guinea Liberia
Current account balance
-$344M
1996
$120M
2024
Current account balance ranking
98/190
1996
62/190
2024
Current account balance, % of GDP
-148%
1996
+2.51%
2024
Goods imports
$292M
1996
$1.51B
2024
Goods exports
$175M
1996
$1.31B
2024
Service imports
$185M
1996
$253M
2024
Service exports
$4.88M
1996
$42.6M
2024
Imports of goods and services, % of GDP
28.4%
2025
n/a
Exports of goods and services, % of GDP
46.5%
2025
28.5%
2026

Economic freedom indices

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

Equatorial Guinea Liberia
Economic freedom 47.4 49.8
Economic freedom ranking 175/197 163/197
Property rights 16.9 40.4
Government integrity 6.9 25.8
Judicial effectiveness 7.2 23.4
Tax burden 81 86.1
Government spending 90.8 79.5
Fiscal health 97.3 56.9
Business freedom 35.9 38
Labor freedom 45.2 43.4
Monetary freedom 73.5 71.4
Trade freedom 43.6 57.4
Investment freedom 40 55
Financial freedom 30 20

Economic freedom comparison by year

Equatorial Guinea
Liberia
1x
Year Economic freedom index
Equatorial Guinea Liberia
2026 47.4 49.8
2025 47.7 48.5
2024 47.7 49.9
2023 48.3 49.6
2022 47.2 47.9
2021 49.2 49.2
2020 48.3 49
2019 41 49.7
2018 42 50.9
2017 45 49.1
2016 43.7 52.2
2015 40.4 52.7
2014 44.4 52.4
2013 42.3 49.3
2012 42.8 48.6
2011 47.5 46.5
2010 48.6 46.2
2009 51.3 48.1
2008 51.6 -
2007 53.2 -
2006 51.5 -
2005 53.3 -
2004 53.3 -
2003 53.1 -
2002 46.4 -
2001 47.9 -
2000 45.6 -
1999 45.1 -

Data sources: The Heritage Foundation | Economic Freedom Index (1999–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, compared to 49.8 for Liberia, ranking 163/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Equatorial Guinea Liberia
Services, % of GDP
55.5%
2025
40%
2025
Industry, % of GDP
41.4%
2025
24.5%
2025
Agriculture, forestry, and fishing, % of GDP
3.21%
2025
32.7%
2025
GNI, Atlas method
$11.4B
2025
$4.76B
2025
GNI per capita, PPP
$14,610
2025
$1,840
2025
Total reserves including gold
$1.08B
2024
$339M
2025
Total reserves ranking
141/177
2024
166/177
2025
Net foreign direct investment
-$376M
1996
-$397M
2024
Net inflows of foreign direct investment
$188M
2024
$472M
2024
Net outflows of foreign direct investment
$154M
2024
$74.9M
2024
Servicing debt to the IMF, % of GNI n/a
3.12%
2024
Poverty at national poverty lines
50.7%
2022
50.9%
2016
Gross capital formation, % of GDP
-3.68%
2025
n/a

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1999–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. Central Intelligence Agency (CIA) (2014, retrieved 2026-07-08)
  9. TradeMap (2023, retrieved 2026-07-08)

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.