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Economy of Equatorial Guinea vs Luxembourg compared: GDP & Debt

Updated on by Georank team

Equatorial Guinea has a GDP of $12.8B compared to $93.3B for Luxembourg, ranking 148/197 and 74/197 by economy size, respectively.

Equatorial Guinea has $4.65B in government debt (36.4% of GDP), compared to $24.5B (26.3% of GDP) in Luxembourg.

Equatorial Guinea vs Luxembourg GDP by year

Equatorial Guinea
Luxembourg
1x
Year GDP, current $
Equatorial Guinea Luxembourg
2024 $12,765,777,677 $93,279,851,863
2023 $12,337,550,584 $88,788,881,539
2022 $13,687,643,436 $80,801,680,397
2021 $12,215,878,033 $86,386,759,695
2020 $9,893,816,008 $73,670,782,100
2019 $11,364,133,550 $69,872,035,114
2018 $13,097,012,134 $71,085,623,495
2017 $12,200,913,879 $65,712,180,343
2016 $11,240,808,848 $62,216,885,436
2015 $13,185,496,881 $60,071,584,216
2014 $21,765,453,082 $68,804,811,898
2013 $21,948,834,284 $65,203,276,467
2012 $22,388,344,144 $59,776,383,527
2011 $21,357,343,669 $61,696,281,326
2010 $16,314,443,436 $56,213,985,987
2009 $15,027,795,173 $54,467,289,898
2008 $19,749,893,536 $58,844,277,702
2007 $13,071,718,759 $51,587,401,416
2006 $10,086,528,699 $42,910,146,296
2005 $8,217,369,093 $37,672,280,120
2004 $4,410,764,339 $35,064,843,793
2003 $2,484,745,935 $29,667,268,248
2002 $1,806,742,742 $23,649,833,332
2001 $1,461,139,022 $21,387,533,703
2000 $1,045,998,496 $21,230,182,989
1999 $621,117,886 $21,899,317,599
1998 $370,687,634 $20,150,053,345
1997 $442,337,871 $19,563,836,265
1996 $232,463,023 $20,895,314,658
1995 $141,853,361 $20,853,093,870
1994 $100,807,003 $17,701,798,891
1993 $136,047,906 $15,925,521,222
1992 $134,707,184 $15,518,702,635
1991 $110,906,029 $13,834,219,728
1990 $112,119,411 $12,778,792,854
1989 $88,265,975 $10,037,674,038
1988 $100,534,657 $9,418,167,855
1987 $93,345,860 $8,320,902,215
1986 $76,407,396 $6,685,595,088
1985 $62,118,570 $4,577,211,767
1984 $50,320,914 $4,438,435,493
1983 $44,442,457 $4,524,217,751
1982 $44,294,648 $4,602,316,793
1981 $36,731,423 $5,053,665,797
1980 $50,642,881 $6,019,805,490
1979 - $5,516,982,664
1978 - $4,718,539,772
1977 $103,987,520 $3,789,321,328
1976 $103,653,050 $3,423,586,207
1975 $104,295,643 $3,123,333,333
1974 $94,159,863 $3,183,637,117
1973 $81,203,227 $2,609,875,802
1972 $65,429,198 $1,901,697,370
1971 $64,946,955 $1,518,773,421
1970 $66,331,429 $1,457,768,455
1969 $67,225,714 $1,245,432,991
1968 $67,514,286 $1,075,561,623
1967 $72,317,447 $983,052,315
1966 $69,110,000 $976,717,015
1965 $64,748,333 $929,477,285
1964 $51,915,000 $910,877,686
1963 $44,266,667 $797,902,154
1962 $37,253,333 $747,846,862
1961 - $710,163,719
1960 - $709,941,874

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

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

GDP per capita in Equatorial Guinea vs Luxembourg by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Luxembourg
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Luxembourg
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,745 $17,567 $137,782 $155,941
2023 $6,678 $17,412 $133,231 $150,508
2022 $7,589 $18,140 $123,720 $146,919
2021 $6,946 $16,821 $134,966 $136,772
2020 $5,764 $13,677 $116,860 $122,067
2019 $6,804 $16,451 $112,697 $121,372
2018 $8,102 $18,413 $116,927 $116,638
2017 $7,809 $18,435 $110,193 $114,986
2016 $7,453 $16,649 $106,899 $113,365
2015 $9,069 $19,479 $105,462 $107,860
2014 $15,549 $27,177 $123,679 $105,296
2013 $16,304 $27,910 $120,000 $100,925
2012 $17,309 $30,012 $112,585 $96,636
2011 $17,198 $27,242 $119,025 $94,475
2010 $13,720 $26,168 $110,886 $90,336
2009 $13,233 $29,722 $109,420 $86,919
2008 $18,211 $30,523 $120,422 $90,971
2007 $12,617 $26,611 $107,475 $85,126
2006 $10,185 $23,511 $90,789 $78,861
2005 $8,674 $22,137 $80,988 $68,788
2004 $4,901 $19,354 $76,545 $64,686
2003 $2,931 $14,496 $65,689 $60,192
2002 $2,264 $13,255 $53,006 $58,576
2001 $1,949 $11,627 $48,440 $56,136
2000 $1,487 $7,420 $48,660 $55,136
1999 $931 $6,470 $50,872 $49,845
1998 $578 $5,280 $47,445 $44,270
1997 $717 $4,387 $46,642 $42,488
1996 $392 $1,793 $50,444 $39,722
1995 $248.3 $1,098 $51,032 $38,345
1994 $183.2 $951 $43,933 $37,551
1993 $256.7 $828 $40,067 $35,899
1992 $263.7 $756 $39,571 $34,108
1991 $225.3 $569 $35,747 $33,191
1990 $236.4 $577 $33,465 $29,949
1989 $193.2 - $26,618 -
1988 $228.7 - $25,219 -
1987 $220.9 - $22,443 -
1986 $188.8 - $18,150 -
1985 $161.1 - $12,482 -
1984 $137.9 - $12,127 -
1983 $129.4 - $12,374 -
1982 $137.5 - $12,591 -
1981 $121.1 - $13,837 -
1980 $175.5 - $16,531 -
1979 - - $15,204 -
1978 - - $13,034 -
1977 $376 - $10,486 -
1976 $369 - $9,491 -
1975 $362 - $8,701 -
1974 $319 - $8,967 -
1973 $268.6 - $7,447 -
1972 $211.4 - $5,487 -
1971 $205.6 - $4,435 -
1970 $206.8 - $4,298 -
1969 $208.4 - $3,690 -
1968 $211.7 - $3,203 -
1967 $231.9 - $2,935 -
1966 $226.7 - $2,925 -
1965 $217.1 - $2,804 -
1964 $177.8 - $2,779 -
1963 $154.8 - $2,462 -
1962 $132.9 - $2,332 -
1961 - - $2,241 -
1960 - - $2,261 -

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

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

Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $137,782 in Luxembourg, ranking 3/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Luxembourg ranks 1st at $155,941.

Economic indicators

Equatorial Guinea Luxembourg
Gross domestic product
$12.8B
2024
$93.3B
2024
GDP rank
148/197
2024
74/197
2024
GDP growth
0.91%
2023-2024
0.36%
2023-2024
GDP per capita
$6,745
2024
$137,782
2024
GDP per capita rank
106/197
2024
3/197
2024
GDP per capita, PPP
$17,567
2024
$155,941
2024
GDP per capita PPP rank
106/197
2024
1/197
2024
Government debt
$4.65B
2024
$24.5B
2024
Debt-to-GDP ratio
36.4%
2024
26.3%
2024
Government debt per person
$2,458
2024
$36,221
2024
Government debt per person rank
110/185
2024
19/185
2024
Average annual personal income after taxes
$5,042
2026
$69,593
2026
Market capitalization of domestic companies n/a
$41.9B
2024
Number of billionaires n/a
1
2025
Income share by richest 10%
29.1%
2022
25%
2023
Income share by poorest 10%
2.6%
2022
2.8%
2023
Government expenditure, % of GDP
18.5%
2024
46.9%
2024
Consumer prices inflation
3.4%
2023-2024
2.05%
2023-2024
Unemployment rate
8.6%
2014
6.42%
2024
Population
1998075
693885

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Luxembourg
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Luxembourg
Government spending Government debt Government spending Government debt
2024 18.5% 36.4% 46.9% 26.3%
2023 19.2% 39.1% 46.4% 24.7%
2022 14.8% 29.8% 44.3% 24.9%
2021 12.7% 42.3% 42.4% 24.2%
2020 16.2% 49.4% 47% 24.5%
2019 16.8% 43.2% 43.1% 22.3%
2018 19.1% 40.6% 42.3% 20.9%
2017 20.1% 36.2% 41.3% 21.8%
2016 27.8% 41.1% 40% 19.6%
2015 41.6% 31.7% 40.4% 21.1%
2014 31.6% 12.6% 40.6% 21.9%
2013 29.3% 6.27% 41.2% 22.4%
2012 35.2% 7.1% 41.8% 20.8%
2011 27.5% 7.17% 41.5% 18.5%
2010 31.2% 7.89% 42% 19.1%
2009 39.8% 4.34% 42.7% 15.3%
2008 19.9% 0.49% 37.9% 14.6%
2007 19.7% 0.75% 37.4% 8.09%
2006 18.1% 1.22% 39.4% 8.21%
2005 14.1% 2.85% 43.4% 7.95%
2004 15.5% 4.54% 43.7% 7.83%
2003 11.8% 6.77% 43.3% 7.43%
2002 11.3% 19.4% 41.8% 7.45%
2001 13.5% 25.5% 38.1% 7.62%
2000 22.6% 36.6% 38% 7.49%
1999 18.7% 60.5% 41.7% 8.39%
1998 35.1% 59.2% 43.9% 9.51%
1997 14.8% 46.3% 44.2% 10.1%
1996 22.9% 91.2% 42.5% 10.2%
1995 141.5% 136.9% 42% 10.3%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-02-20).

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

In 2024, Equatorial Guinea's government spending was $2.36B, accounting for 18.5% of its GDP, while Luxembourg spent $43.7B, or 46.9% of GDP.

Debt-to-GDP ratio is 36.4% in Equatorial Guinea and 26.3% in Luxembourg, ranking 143/185 and 162/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Luxembourg
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Luxembourg
2024 -0.55% 1.03%
2023 2.39% -0.78%
2022 11.7% 0.18%
2021 2.65% 1%
2020 -1.77% -3.09%
2019 1.82% 2.68%
2018 0.52% 3.17%
2017 -2.59% 1.37%
2016 -10.9% 1.89%
2015 -15.1% 1.3%
2014 -7.54% 1.33%
2013 -4.4% 0.84%
2012 -7.24% 0.5%
2011 0.83% 0.65%
2010 -4.53% -0.26%
2009 -6.47% -0.21%
2008 14.6% 3.37%
2007 17.2% 4.35%
2006 21.8% 1.9%
2005 18.5% -0.21%
2004 9.22% -1.39%
2003 9.99% 0.28%
2002 17.6% 2.03%
2001 14.9% 5.62%
2000 -2.67% 5.55%
1999 -0.19% 3.24%
1998 -7.65% 2.98%
1997 3.21% 2.65%
1996 -6.36% 2.37%
1995 -123.4% 2.71%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-02-20).

GeoRank.org/economy/equatorial-guinea/luxembourg | 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 Luxembourg's surplus of $961M, or 1.03% of GDP.

Over the past 30 years, Equatorial Guinea recorded a fiscal deficit in 15 of those years, while Luxembourg ran a deficit in 6 years. On average, Equatorial Guinea posted an annual deficit equal to 1.82% of GDP, compared to surplus of 1.57% of GDP for Luxembourg.

Inflation comparison by year

Inflation
Equatorial Guinea

Luxembourg
1x
Year Consumer prices inflation
Equatorial Guinea Luxembourg
2024 3.4% 2.05%
2023 2.4% 3.74%
2022 4.9% 6.34%
2021 -0.1% 2.53%
2020 4.8% 0.82%
2019 1.2% 1.74%
2018 1.3% 1.53%
2017 0.7% 1.73%
2016 1.4% 0.29%
2015 1.7% 0.47%
2014 4.3% 0.63%
2013 3.2% 1.73%
2012 3.4% 2.66%
2011 4.8% 3.41%
2010 5.3% 2.27%
2009 5.7% 0.37%
2008 4.7% 3.4%
2007 2.8% 2.31%
2006 4.5% 2.67%
2005 5.6% 2.49%
2004 4.2% 2.23%
2003 7.3% 2.05%
2002 7.6% 2.07%
2001 8.7% 2.66%
2000 4.8% 3.15%
1999 0.4% 1.03%
1998 7.9% 0.96%
1997 3% 1.37%

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/luxembourg | CC BY

Over the past 28 years, Equatorial Guinea has recorded an average annual inflation rate of 3.93%, compared with 2.1% in Luxembourg. In 2024, inflation was 3.4% in Equatorial Guinea and 2.05% in Luxembourg.

Top exports between countries

Equatorial Guinea
Export category Export value
Wood & paper products $200K
Luxembourg
Export category Export value
Machinery & equipment $303K
Chemicals & pharma $9K

Balance of trade

Equatorial Guinea Luxembourg
Current account balance
-$344M
1996
$4.1B
2024
Current account balance ranking
101/190
1996
35/190
2024
Current account balance, % of GDP
-148%
1996
+4.4%
2024
Goods imports
$292M
1996
$29.4B
2024
Goods exports
$175M
1996
$31.3B
2024
Service imports
$185M
1996
$117B
2024
Service exports
$4.88M
1996
$150B
2024
Imports of goods and services, % of GDP
25.4%
2024
159.7%
2024
Exports of goods and services, % of GDP
35.2%
2024
191.5%
2024

Economic freedom indices

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

Equatorial Guinea Luxembourg
Economic freedom 47.4 79.7
Economic freedom ranking 175/197 7/197
Property rights 16.9 96.6
Government integrity 6.9 88.7
Judicial effectiveness 7.2 99.1
Tax burden 81 62.3
Government spending 90.8 36.9
Fiscal health 97.3 98.6
Business freedom 35.9 89.5
Labor freedom 45.2 56.7
Monetary freedom 73.5 74.1
Trade freedom 43.6 79.4
Investment freedom 40 95
Financial freedom 30 80

Economic freedom comparison by year

Equatorial Guinea
Luxembourg
1x
Year Economic freedom index
Equatorial Guinea Luxembourg
2026 47.4 79.7
2025 47.7 79.5
2024 47.7 79.2
2023 48.3 78.4
2022 47.2 80.6
2021 49.2 76
2020 48.3 75.8
2019 41 75.9
2018 42 76.4
2017 45 75.9
2016 43.7 73.9
2015 40.4 73.2
2014 44.4 74.2
2013 42.3 74.2
2012 42.8 74.5
2011 47.5 76.2
2010 48.6 75.4
2009 51.3 75.2
2008 51.6 74.7
2007 53.2 74.6
2006 51.5 75.3
2005 53.3 76.3
2004 53.3 78.9
2003 53.1 79.9
2002 46.4 79.4
2001 47.9 80.1
2000 45.6 76.4
1999 45.1 72.4
1998 - 72.7
1997 - 72.8
1996 - 72.5

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, compared to 79.7 for Luxembourg, ranking 7/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Equatorial Guinea Luxembourg
Services, % of GDP
51.1%
2024
81.2%
2024
Industry, % of GDP
45.8%
2024
9.66%
2024
Agriculture, forestry, and fishing, % of GDP
3.15%
2024
0.21%
2024
GNI, Atlas method
$8.96B
2024
$57.3B
2024
GNI per capita, PPP
$12,330
2024
$110,650
2024
Total reserves including gold
$1.54B
2023
$2.79B
2024
Total reserves ranking
134/177
2023
119/177
2024
Net foreign direct investment
-$376M
1996
$21.4B
2024
Net inflows of foreign direct investment
$188M
2024
$106B
2024
Net outflows of foreign direct investment
$154M
2024
$109B
2024
Poverty at national poverty lines
50.7%
2022
17.3%
2021
Gross capital formation, % of GDP
8.96%
2024
15.8%
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/luxembourg | 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 (1996–2026, 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. TradeMap (2022–2024, 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.

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.