Skip to content

Economy of Equatorial Guinea vs Montenegro compared: GDP & Debt

Updated on by Georank

Equatorial Guinea has a GDP of $12.8B compared to $9.23B for Montenegro, ranking 150/197 and 155/197 by economy size, respectively.

Equatorial Guinea has $5.21B in government debt (40.6% of GDP), compared to $6.19B (67.1% of GDP) in Montenegro.

Equatorial Guinea vs Montenegro GDP by year

Equatorial Guinea
Montenegro
1x
Year GDP, current $
Equatorial Guinea Montenegro
2025 $12,823,210,426 $9,232,801,465
2024 $13,254,388,261 $8,274,290,506
2023 $12,541,814,273 $7,643,318,276
2022 $13,687,643,436 $6,259,721,790
2021 $12,215,878,033 $5,822,908,964
2020 $9,893,816,008 $4,734,192,593
2019 $11,364,133,550 $5,483,622,632
2018 $13,097,012,134 $5,433,469,311
2017 $12,200,913,879 $4,803,964,684
2016 $11,240,808,848 $4,357,467,226
2015 $13,185,496,881 $4,010,884,107
2014 $21,765,453,082 $4,579,635,404
2013 $21,948,834,284 $4,422,097,042
2012 $22,388,344,144 $4,071,828,832
2011 $21,357,343,669 $4,507,127,585
2010 $16,314,443,436 $4,136,936,244
2009 $15,027,795,173 $4,159,063,347
2008 $19,749,893,536 $4,559,410,049
2007 $13,071,718,759 $3,682,586,459
2006 $10,086,528,699 $2,719,979,875
2005 $8,217,369,093 $2,258,016,380
2004 $4,410,764,339 $2,077,046,942
2003 $2,484,745,935 $1,708,196,981
2002 $1,806,742,742 $1,286,314,054
2001 $1,461,139,022 $1,159,869,246
2000 $1,045,998,496 $984,293,044
1999 $621,117,886 $828,950,327
1998 $370,687,634 $854,261,161
1997 $442,337,871 $838,288,806
1996 $232,463,023 -
1995 $141,853,361 -
1994 $100,807,003 -
1993 $136,047,906 -
1992 $134,707,184 -
1991 $110,906,029 -
1990 $112,119,411 -
1989 $88,265,975 -
1988 $100,534,657 -
1987 $93,345,860 -
1986 $76,407,396 -
1985 $62,118,570 -
1984 $50,320,914 -
1983 $44,442,457 -
1982 $44,294,648 -
1981 $36,731,423 -
1980 $50,642,881 -
1979 - -
1978 - -
1977 $103,987,520 -
1976 $103,653,050 -
1975 $104,295,643 -
1974 $94,159,863 -
1973 $81,203,227 -
1972 $65,429,198 -
1971 $64,946,955 -
1970 $66,331,429 -
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 (1962–2025, retrieved 2026-07-08).

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

GDP per capita in Equatorial Guinea vs Montenegro by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Montenegro
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Montenegro
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $6,615 - $14,817 -
2024 $7,004 $17,567 $13,270 $34,063
2023 $6,788 $17,412 $12,258 $31,863
2022 $7,589 $18,140 $10,038 $28,050
2021 $6,946 $16,821 $9,316 $23,690
2020 $5,764 $13,677 $7,555 $20,625
2019 $6,804 $16,451 $8,749 $23,706
2018 $8,102 $18,413 $8,674 $21,084
2017 $7,809 $18,435 $7,674 $19,357
2016 $7,453 $16,649 $6,968 $18,030
2015 $9,069 $19,479 $6,421 $16,092
2014 $15,549 $27,177 $7,342 $15,276
2013 $16,304 $27,910 $7,103 $14,692
2012 $17,309 $30,012 $6,552 $13,793
2011 $17,198 $27,242 $7,266 $14,347
2010 $13,720 $26,168 $6,679 $13,612
2009 $13,233 $29,722 $6,727 $12,976
2008 $18,211 $30,523 $7,390 $13,802
2007 $12,617 $26,611 $5,979 $12,452
2006 $10,185 $23,511 $4,423 $10,440
2005 $8,674 $22,137 $3,676 $8,314
2004 $4,901 $19,354 $3,386 $7,841
2003 $2,931 $14,496 $2,790 $7,340
2002 $2,264 $13,255 $2,109 $7,100
2001 $1,949 $11,627 $1,910 $6,772
2000 $1,487 $7,420 $1,627 $6,004
1999 $931 $6,470 $1,368 $5,684
1998 $578 $5,280 $1,406 $6,170
1997 $717 $4,387 $1,375 $5,798
1996 $392 $1,793 - -
1995 $248.3 $1,098 - -
1994 $183.2 $951 - -
1993 $256.7 $828 - -
1992 $263.7 $756 - -
1991 $225.3 $569 - -
1990 $236.4 $577 - -
1989 $193.2 - - -
1988 $228.7 - - -
1987 $220.9 - - -
1986 $188.8 - - -
1985 $161.1 - - -
1984 $137.9 - - -
1983 $129.4 - - -
1982 $137.5 - - -
1981 $121.1 - - -
1980 $175.5 - - -
1979 - - - -
1978 - - - -
1977 $376 - - -
1976 $369 - - -
1975 $362 - - -
1974 $319 - - -
1973 $268.6 - - -
1972 $211.4 - - -
1971 $205.6 - - -
1970 $206.8 - - -
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 (1962–2025, retrieved 2026-07-08).

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

Equatorial Guinea's GDP per capita is $6,615, ranking 107/197, compared to $14,817 in Montenegro, ranking 71/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Montenegro ranks 65th at $34,063.

Economic indicators

Equatorial Guinea Montenegro
Gross domestic product
$12.8B
2025
$9.23B
2025
GDP rank
150/197
2025
155/197
2025
GDP growth
-5.85%
2024-2025
2.74%
2024-2025
GDP per capita
$6,615
2025
$14,817
2025
GDP per capita rank
107/197
2025
71/197
2025
GDP per capita, PPP
$17,567
2024
$34,063
2024
GDP per capita PPP rank
106/197
2024
65/197
2024
Government debt
$5.21B
2025
$6.19B
2025
Debt-to-GDP ratio
40.6%
2025
67.1%
2025
Government debt per person
$2,686
2025
$9,942
2025
Government debt per person rank
109/185
2025
61/185
2025
Average annual personal income after taxes
$4,723
2026
$12,768
2026
Market capitalization of domestic companies n/a
$3.79B
2012
Income share by richest 10%
29.1%
2022
24.7%
2021
Income share by poorest 10%
2.6%
2022
2.1%
2021
Government expenditure, % of GDP
20.7%
2025
43.9%
2025
Consumer prices inflation
2.8%
2024-2025
3.9%
2024-2025
Unemployment rate
8.6%
2014
11.5%
2024
Population
2008950
613759

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Montenegro
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Montenegro
Government spending Government debt Government spending Government debt
2025 20.7% 40.6% 43.9% 67.1%
2024 18.5% 36.4% 44.1% 60.8%
2023 19.2% 39.1% 40.4% 59.6%
2022 14.8% 29.8% 42.2% 70.3%
2021 12.7% 42.3% 45.1% 86.2%
2020 16.2% 49.4% 54.9% 108.4%
2019 16.8% 43.2% 44.4% 79.6%
2018 19.1% 40.6% 47.8% 72.9%
2017 20.1% 36.2% 47.6% 66.9%
2016 27.8% 41.1% 47.7% 66.7%
2015 41.6% 31.7% 46.9% 69.5%
2014 31.6% 12.6% 44.3% 63.6%
2013 29.3% 6.27% 46.3% 59.2%
2012 35.2% 7.1% 45.9% 57.1%
2011 27.5% 7.17% 45.7% 49%
2010 31.2% 7.89% 46.7% 45.1%
2009 39.8% 4.34% 51.5% 43.9%
2008 19.9% 0.49% 51.2% 34.2%
2007 19.7% 0.75% 43.9% 31.8%
2006 18.1% 1.22% 42.6% 36.7%
2005 14.1% 2.85% 38.2% 38.6%
2004 15.5% 4.54% 40% 45.4%
2003 11.8% 6.77% 43.3% 48.6%
2002 11.3% 19.4% 37.5% 85.7%
2001 13.5% 25.5% - -
2000 22.6% 36.6% - -
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/montenegro | CC BY

In 2025, Equatorial Guinea's government spending was $2.65B, accounting for 20.7% of its GDP, while Montenegro spent $4.05B, or 43.9% of GDP.

Debt-to-GDP ratio is 40.6% in Equatorial Guinea and 67.1% in Montenegro, ranking 132/185 and 63/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Montenegro
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Montenegro
2025 -2.55% -3.61%
2024 -0.55% -3.44%
2023 2.39% 0.38%
2022 11.7% -4.05%
2021 2.65% -1.37%
2020 -1.77% -10.9%
2019 1.82% -1.74%
2018 0.52% -6.3%
2017 -2.59% -6.89%
2016 -10.9% -6.21%
2015 -15.1% -6.03%
2014 -7.54% -0.7%
2013 -4.4% -4.54%
2012 -7.24% -5.87%
2011 0.83% -6.79%
2010 -4.53% -4.88%
2009 -6.47% -6.74%
2008 14.6% -2.3%
2007 17.2% 8.44%
2006 21.8% 4.34%
2005 18.5% -1.42%
2004 9.22% -2.45%
2003 9.99% -4.06%
2002 17.6% -1.44%
2001 14.9% -
2000 -2.67% -
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/montenegro | 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 Montenegro's deficit of $334M, or 3.61% of GDP.

Over the past 24 years, Equatorial Guinea recorded a fiscal deficit in 11 of those years, while Montenegro ran a deficit in 21 years. On average, Equatorial Guinea posted an annual surplus equal to 2.71% of GDP, compared to deficit of 3.27% of GDP for Montenegro.

Inflation comparison by year

Inflation
Equatorial Guinea

Montenegro
1x
Year Consumer prices inflation
Equatorial Guinea Montenegro
2025 2.8% 3.9%
2024 3.4% 3.3%
2023 2.4% 8.6%
2022 4.9% 13%
2021 -0.1% 2.4%
2020 4.8% -0.3%
2019 1.2% 0.4%
2018 1.3% 2.6%
2017 0.7% 2.4%
2016 1.4% -0.3%
2015 1.7% 1.5%
2014 4.3% -0.7%
2013 3.2% 2.2%
2012 3.4% 4.1%
2011 4.8% 3.5%
2010 5.3% 0.4%
2009 5.7% 3.6%
2008 4.7% 9%
2007 2.8% 3.4%
2006 4.5% 2.1%
2005 5.6% 3.4%
2004 4.2% 3.1%
2003 7.3% 7.5%
2002 7.6% 19.7%
2001 8.7% 23.7%
2000 4.8% 29.9%
1999 0.4% -
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/montenegro | CC BY

Over the past 26 years, Equatorial Guinea has recorded an average annual inflation rate of 3.9%, compared with 5.86% in Montenegro. In 2025, inflation was 2.8% in Equatorial Guinea and 3.9% in Montenegro.

Balance of trade

Equatorial Guinea Montenegro
Current account balance
-$344M
1996
-$1.88B
2025
Current account balance ranking
98/190
1996
140/190
2025
Current account balance, % of GDP
-148%
1996
-20.4%
2025
Goods imports
$292M
1996
$4.91B
2025
Goods exports
$175M
1996
$663M
2025
Service imports
$185M
1996
$1.24B
2025
Service exports
$4.88M
1996
$3.07B
2025
Imports of goods and services, % of GDP
28.4%
2025
65.7%
2025
Exports of goods and services, % of GDP
46.5%
2025
40.1%
2025

Economic freedom indices

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

Equatorial Guinea Montenegro
Economic freedom 47.4 63.8
Economic freedom ranking 175/197 78/197
Property rights 16.9 60.9
Government integrity 6.9 49.9
Judicial effectiveness 7.2 51.5
Tax burden 81 88.7
Government spending 90.8 47.6
Fiscal health 97.3 86.2
Business freedom 35.9 68.4
Labor freedom 45.2 59.4
Monetary freedom 73.5 75.2
Trade freedom 43.6 78.4
Investment freedom 40 50
Financial freedom 30 50

Economic freedom comparison by year

Equatorial Guinea
Montenegro
1x
Year Economic freedom index
Equatorial Guinea Montenegro
2026 47.4 63.8
2025 47.7 63.8
2024 47.7 59.7
2023 48.3 60.9
2022 47.2 57.8
2021 49.2 63.4
2020 48.3 61.5
2019 41 60.5
2018 42 64.3
2017 45 62
2016 43.7 64.9
2015 40.4 64.7
2014 44.4 63.6
2013 42.3 62.6
2012 42.8 62.5
2011 47.5 62.5
2010 48.6 63.6
2009 51.3 58.2
2008 51.6 -
2007 53.2 -
2006 51.5 -
2005 53.3 -
2004 53.3 -
2003 53.1 43.5
2002 46.4 46.6
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/montenegro | CC BY

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, compared to 63.8 for Montenegro, ranking 78/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Equatorial Guinea Montenegro
Services, % of GDP
55.5%
2025
63.4%
2025
Industry, % of GDP
41.4%
2025
11.3%
2025
Agriculture, forestry, and fishing, % of GDP
3.21%
2025
3.37%
2025
GNI, Atlas method
$11.4B
2025
$8.82B
2025
GNI per capita, PPP
$14,610
2025
$35,700
2025
Total reserves including gold
$1.08B
2024
$2.2B
2025
Total reserves ranking
141/177
2024
126/177
2025
Net foreign direct investment
-$376M
1996
-$601M
2025
Net inflows of foreign direct investment
$188M
2024
$599M
2024
Net outflows of foreign direct investment
$154M
2024
$67.8M
2024
Servicing debt to the IMF, % of GNI n/a
15%
2024
Poverty at national poverty lines
50.7%
2022
20%
2023
Gross capital formation, % of GDP
-3.68%
2025
26.9%
2025

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/montenegro | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1962–2025, 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)

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.