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Economy of Equatorial Guinea vs Mozambique compared: GDP & Debt

Updated on by Georank team

Equatorial Guinea has a GDP of $12.8B compared to $22.7B for Mozambique, ranking 148/197 and 123/197 by economy size, respectively.

Equatorial Guinea has $4.65B in government debt (36.4% of GDP), compared to $21.2B (93.2% of GDP) in Mozambique.

Equatorial Guinea vs Mozambique GDP by year

Equatorial Guinea
Mozambique
1x
Year GDP, current $
Equatorial Guinea Mozambique
2024 $12,765,777,677 $22,745,341,305
2023 $12,337,550,584 $20,921,079,533
2022 $13,687,643,436 $18,883,528,581
2021 $12,215,878,033 $16,168,055,475
2020 $9,893,816,008 $14,235,420,174
2019 $11,364,133,550 $15,512,759,047
2018 $13,097,012,134 $15,017,358,953
2017 $12,200,913,879 $13,264,640,646
2016 $11,240,808,848 $12,069,051,237
2015 $13,185,496,881 $16,208,985,770
2014 $21,765,453,082 $17,978,246,586
2013 $21,948,834,284 $17,198,073,057
2012 $22,388,344,144 $16,688,114,144
2011 $21,357,343,669 $14,619,279,989
2010 $16,314,443,436 $11,411,894,724
2009 $15,027,795,173 $12,263,894,790
2008 $19,749,893,536 $12,920,340,965
2007 $13,071,718,759 $10,811,456,006
2006 $10,086,528,699 $9,509,835,537
2005 $8,217,369,093 $8,868,504,900
2004 $4,410,764,339 $7,937,255,565
2003 $2,484,745,935 $6,583,526,861
2002 $1,806,742,742 $5,950,769,427
2001 $1,461,139,022 $5,650,154,067
2000 $1,045,998,496 $5,930,685,215
1999 $621,117,886 $6,285,219,691
1998 $370,687,634 $5,551,118,149
1997 $442,337,871 $4,873,663,775
1996 $232,463,023 $4,030,146,135
1995 $141,853,361 $3,061,646,174
1994 $100,807,003 $2,958,108,170
1993 $136,047,906 $2,883,161,897
1992 $134,707,184 $2,798,696,511
1991 $110,906,029 $3,854,856,435
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 (1962–2024, retrieved 2026-04-06).

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

GDP per capita in Equatorial Guinea vs Mozambique by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Mozambique
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Mozambique
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,745 $17,567 $657 $1,705
2023 $6,678 $17,412 $622 $1,678
2022 $7,589 $18,140 $578 $1,582
2021 $6,946 $16,821 $510 $1,457
2020 $5,764 $13,677 $462 $1,412
2019 $6,804 $16,451 $519 $1,389
2018 $8,102 $18,413 $518 $1,326
2017 $7,809 $18,435 $471 $1,283
2016 $7,453 $16,649 $441 $1,379
2015 $9,069 $19,479 $611 $1,318
2014 $15,549 $27,177 $697 $1,166
2013 $16,304 $27,910 $687 $1,114
2012 $17,309 $30,012 $686 $1,076
2011 $17,198 $27,242 $618 $1,064
2010 $13,720 $26,168 $496 $1,000
2009 $13,233 $29,722 $548 $951
2008 $18,211 $30,523 $592 $916
2007 $12,617 $26,611 $508 $862
2006 $10,185 $23,511 $457 $798
2005 $8,674 $22,137 $437 $721
2004 $4,901 $19,354 $400 $673
2003 $2,931 $14,496 $339 $620
2002 $2,264 $13,255 $314 $580
2001 $1,949 $11,627 $305 $533
2000 $1,487 $7,420 $327 $472
1999 $931 $6,470 $354 $468
1998 $578 $5,280 $320 $422
1997 $717 $4,387 $287.5 $387
1996 $392 $1,793 $244.4 $350
1995 $248.3 $1,098 $191.8 $321
1994 $183.2 $951 $196.8 $326
1993 $256.7 $828 $205.2 $321
1992 $263.7 $756 $205.6 $292
1991 $225.3 $569 $288.7 $315
1990 $236.4 $577 - $296
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 (1962–2024, retrieved 2026-04-06).

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

Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $657 in Mozambique, ranking 189/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Mozambique ranks 192nd at $1,705.

Economic indicators

Equatorial Guinea Mozambique
Gross domestic product
$12.8B
2024
$22.7B
2024
GDP rank
148/197
2024
123/197
2024
GDP growth
0.91%
2023-2024
2.15%
2023-2024
GDP per capita
$6,745
2024
$657
2024
GDP per capita rank
106/197
2024
189/197
2024
GDP per capita, PPP
$17,567
2024
$1,705
2024
GDP per capita PPP rank
106/197
2024
192/197
2024
Government debt
$4.65B
2024
$21.2B
2024
Debt-to-GDP ratio
36.4%
2024
93.2%
2024
Government debt per person
$2,458
2024
$612
2024
Government debt per person rank
110/185
2024
159/185
2024
Average annual personal income after taxes
$5,042
2026
$1,778
2026
Income share by richest 10%
29.1%
2022
40.8%
2022
Income share by poorest 10%
2.6%
2022
1.7%
2022
Government expenditure, % of GDP
18.5%
2024
33.2%
2024
Consumer prices inflation
3.4%
2023-2024
3.2%
2023-2024
Central bank interest rate n/a
9.75%
2025
Unemployment rate
8.6%
2014
6.79%
2022
Population
1998075
36941128

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Mozambique
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Mozambique
Government spending Government debt Government spending Government debt
2024 18.5% 36.4% 33.2% 93.2%
2023 19.2% 39.1% 33.3% 90.9%
2022 14.8% 29.8% 32.9% 100.3%
2021 12.7% 42.3% 32.1% 104.3%
2020 16.2% 49.4% 33.9% 120%
2019 16.8% 43.2% 28% 98.3%
2018 19.1% 40.6% 32.9% 105.5%
2017 20.1% 36.2% 29.5% 103.8%
2016 27.8% 41.1% 29.1% 124.8%
2015 41.6% 31.7% 32.2% 86%
2014 31.6% 12.6% 39.7% 63.4%
2013 29.3% 6.27% 31.7% 49.5%
2012 35.2% 7.1% 28.1% 36.7%
2011 27.5% 7.17% 28.9% 34.2%
2010 31.2% 7.89% 26.7% 38.6%
2009 39.8% 4.34% 25.7% 39.3%
2008 19.9% 0.49% 21.3% 32.8%
2007 19.7% 0.75% 20.9% 31.2%
2006 18.1% 1.22% 20.1% 40%
2005 14.1% 2.85% 17% 60.1%
2004 15.5% 4.54% 17.8% 50.8%
2003 11.8% 6.77% 18.6% 63.2%
2002 11.3% 19.4% 18.6% 63.4%
2001 13.5% 25.5% 20.8% 99.8%
2000 22.6% 36.6% 17.2% 95.8%
1999 18.7% 60.5% 15.6% 94.7%
1998 35.1% 59.2% 14.9% -
1997 14.8% 46.3% 16.5% -
1996 22.9% 91.2% 14.9% -
1995 141.5% 136.9% 18.8% -
1994 510% 216% 22.9% -
1993 256.3% 152.6% 20.7% -
1992 595% 136.9% 21.1% -
1991 284.5% 169.5% 17.3% -
1990 212.9% 157% 21% -
1989 116.8% 187% 27% -
1988 227.9% 154.5% 27% -
1987 183% 141.3% 22.9% -
1986 119% 152.5% 24.2% -
1985 115.4% 183.8% 21% -
1984 - - 30.9% -
1983 - - 35.3% -
1982 - - 27% -
1981 - - 23.8% -
1980 - - 14.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

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

In 2024, Equatorial Guinea's government spending was $2.36B, accounting for 18.5% of its GDP, while Mozambique spent $7.56B, or 33.2% of GDP.

Debt-to-GDP ratio is 36.4% in Equatorial Guinea and 93.2% in Mozambique, ranking 143/185 and 28/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Mozambique
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Mozambique
2024 -0.55% -6.17%
2023 2.39% -4.26%
2022 11.7% -5.22%
2021 2.65% -5.23%
2020 -1.77% -6.19%
2019 1.82% 1.7%
2018 0.52% -7.39%
2017 -2.59% -2.9%
2016 -10.9% -5.42%
2015 -15.1% -6.55%
2014 -7.54% -9.75%
2013 -4.4% -2.46%
2012 -7.24% -3.45%
2011 0.83% -4.34%
2010 -4.53% -3.5%
2009 -6.47% -4.35%
2008 14.6% -1.9%
2007 17.2% -2.19%
2006 21.8% -3.03%
2005 18.5% -2.06%
2004 9.22% -3.17%
2003 9.99% -2.64%
2002 17.6% -3.36%
2001 14.9% -4.43%
2000 -2.67% -1.26%
1999 -0.19% -0.31%
1998 -7.65% -1.08%
1997 3.21% -1.81%
1996 -6.36% -2.07%
1995 -123.4% -2.46%
1994 -487% -4%
1993 -217.9% -2.53%
1992 -557% -1.85%
1991 -236% -2.01%
1990 -160.2% -4.42%
1989 -76.2% -4.23%
1988 -208.5% -6.47%
1987 -158% -7.24%
1986 -97.3% -12.1%
1985 -89.3% -9.69%
1984 - -13.4%
1983 - -15.8%
1982 - -3.61%
1981 - -7.41%
1980 - -1.47%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

GeoRank.org/economy/equatorial-guinea/mozambique | 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 Mozambique's deficit of $1.4B, or 6.17% of GDP.

Over the past 34 years, Equatorial Guinea recorded a fiscal deficit in 19 of those years, while Mozambique ran a deficit in 33 years. On average, Equatorial Guinea posted an annual deficit equal to 45.7% of GDP, compared to deficit of 3.46% of GDP for Mozambique.

Inflation comparison by year

Inflation
Equatorial Guinea

Mozambique
1x
Year Consumer prices inflation
Equatorial Guinea Mozambique
2024 3.4% 3.2%
2023 2.4% 7%
2022 4.9% 10.4%
2021 -0.1% 6.6%
2020 4.8% 0.9%
2019 1.2% 5.7%
2018 1.3% 3.2%
2017 0.7% 15.8%
2016 1.4% 18.4%
2015 1.7% 3.6%
2014 4.3% 2.6%
2013 3.2% 4.3%
2012 3.4% 2.6%
2011 4.8% 11.2%
2010 5.3% 12.4%
2009 5.7% 3.8%
2008 4.7% 14.5%
2007 2.8% 10.4%
2006 4.5% 13.2%
2005 5.6% 6.4%
2004 4.2% 12.6%
2003 7.3% 13.5%
2002 7.6% 16.8%
2001 8.7% 9.1%
2000 4.8% 12.7%
1999 0.4% 2.9%
1998 7.9% 1.5%
1997 3% 7.4%

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

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

Over the past 28 years, Equatorial Guinea has recorded an average annual inflation rate of 3.93%, compared with 8.31% in Mozambique. In 2024, inflation was 3.4% in Equatorial Guinea and 3.2% in Mozambique.

Top exports between countries

Equatorial Guinea
Export category Export value
Mozambique
Export category Export value
Machinery & equipment $3.03M

Balance of trade

Equatorial Guinea Mozambique
Current account balance
-$344M
1996
-$2.49B
2024
Current account balance ranking
101/190
1996
150/190
2024
Current account balance, % of GDP
-148%
1996
-11%
2024
Goods imports
$292M
1996
$8.38B
2024
Goods exports
$175M
1996
$8.21B
2024
Service imports
$185M
1996
$2.11B
2024
Service exports
$4.88M
1996
$1.15B
2024
Imports of goods and services, % of GDP
25.4%
2024
52.8%
2024
Exports of goods and services, % of GDP
35.2%
2024
42.8%
2024

Economic freedom indices

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

Equatorial Guinea Mozambique
Economic freedom 47.4 49.6
Economic freedom ranking 175/197 164/197
Property rights 16.9 29.7
Government integrity 6.9 25.1
Judicial effectiveness 7.2 43.4
Tax burden 81 75.8
Government spending 90.8 67
Fiscal health 97.3 39.1
Business freedom 35.9 40.2
Labor freedom 45.2 47.7
Monetary freedom 73.5 76.2
Trade freedom 43.6 71.2
Investment freedom 40 40
Financial freedom 30 40

Economic freedom comparison by year

Equatorial Guinea
Mozambique
1x
Year Economic freedom index
Equatorial Guinea Mozambique
2026 47.4 49.6
2025 47.7 50.7
2024 47.7 50.7
2023 48.3 52.5
2022 47.2 51.3
2021 49.2 51.6
2020 48.3 50.5
2019 41 48.6
2018 42 46.3
2017 45 49.9
2016 43.7 53.2
2015 40.4 54.8
2014 44.4 55
2013 42.3 55
2012 42.8 57.1
2011 47.5 56.8
2010 48.6 56
2009 51.3 55.7
2008 51.6 55.4
2007 53.2 54.7
2006 51.5 51.9
2005 53.3 54.6
2004 53.3 57.2
2003 53.1 58.6
2002 46.4 57.7
2001 47.9 59.2
2000 45.6 52.2
1999 45.1 48.9
1998 - 43
1997 - 44
1996 - 48.4
1995 - 45.5

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

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

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, compared to 49.6 for Mozambique, ranking 164/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Equatorial Guinea Mozambique
Services, % of GDP
51.1%
2024
41.1%
2024
Industry, % of GDP
45.8%
2024
21.9%
2024
Agriculture, forestry, and fishing, % of GDP
3.15%
2024
25.2%
2024
GNI, Atlas method
$8.96B
2024
$19.1B
2024
GNI per capita, PPP
$12,330
2024
$1,520
2024
Total reserves including gold
$1.54B
2023
$3.84B
2024
Total reserves ranking
134/177
2023
108/177
2024
Net foreign direct investment
-$376M
1996
-$3.55B
2024
Net inflows of foreign direct investment
$188M
2024
$3.51B
2024
Net outflows of foreign direct investment
$154M
2024
-$44.1M
2024
Servicing debt to the IMF, % of GNI n/a
22.4%
2024
Poverty at national poverty lines
50.7%
2022
65%
2022
Gross capital formation, % of GDP
8.96%
2024
17.7%
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/mozambique | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2014, retrieved 2026-02-20)
  9. TradeMap (2023, 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.