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Economy of Equatorial Guinea vs Paraguay compared: GDP & Debt

Updated on by Georank team

Equatorial Guinea has a GDP of $12.8B compared to $44.5B for Paraguay, ranking 148/197 and 98/197 by economy size, respectively.

Equatorial Guinea has $4.65B in government debt (36.4% of GDP), compared to $19.9B (44.8% of GDP) in Paraguay.

Equatorial Guinea vs Paraguay GDP by year

Equatorial Guinea
Paraguay
1x
Year GDP, current $
Equatorial Guinea Paraguay
2024 $12,765,777,677 $44,458,118,397
2023 $12,337,550,584 $43,118,053,175
2022 $13,687,643,436 $41,952,910,858
2021 $12,215,878,033 $39,950,899,939
2020 $9,893,816,008 $35,432,178,068
2019 $11,364,133,550 $37,925,338,329
2018 $13,097,012,134 $40,225,448,341
2017 $12,200,913,879 $38,997,129,474
2016 $11,240,808,848 $36,089,700,223
2015 $13,185,496,881 $36,211,447,840
2014 $21,765,453,082 $40,377,929,296
2013 $21,948,834,284 $38,501,122,141
2012 $22,388,344,144 $33,271,921,136
2011 $21,357,343,669 $33,756,238,766
2010 $16,314,443,436 $27,260,886,405
2009 $15,027,795,173 $22,355,151,162
2008 $19,749,893,536 $24,615,267,664
2007 $13,071,718,759 $17,856,393,235
2006 $10,086,528,699 $13,429,430,050
2005 $8,217,369,093 $10,737,500,188
2004 $4,410,764,339 $9,624,440,836
2003 $2,484,745,935 $7,691,367,471
2002 $1,806,742,742 $7,196,260,657
2001 $1,461,139,022 $8,495,806,432
2000 $1,045,998,496 $8,855,705,140
1999 $621,117,886 $8,837,070,236
1998 $370,687,634 $9,260,481,572
1997 $442,337,871 $9,965,225,678
1996 $232,463,023 $9,788,391,781
1995 $141,853,361 $9,062,131,475
1994 $100,807,003 $7,870,982,005
1993 $136,047,906 $7,249,533,620
1992 $134,707,184 $7,157,424,031
1991 $110,906,029 $6,984,367,763
1990 $112,119,411 $5,812,114,523
1989 $88,265,975 $4,757,732,200
1988 $100,534,657 $4,255,683,528
1987 $93,345,860 $3,971,044,724
1986 $76,407,396 $3,723,993,943
1985 $62,118,570 $3,282,449,236
1984 $50,320,914 $4,502,462,807
1983 $44,442,457 $5,673,248,726
1982 $44,294,648 $5,419,411,765
1981 $36,731,423 $5,624,515,873
1980 $50,642,881 $4,448,087,302
1979 - $3,416,777,778
1978 - $2,559,857,143
1977 $103,987,520 $2,092,158,730
1976 $103,653,050 $1,698,960,317
1975 $104,295,643 $1,511,420,635
1974 $94,159,863 $1,333,475,397
1973 $81,203,227 $995,531,746
1972 $65,429,198 $769,039,683
1971 $64,946,955 $664,571,429
1970 $66,331,429 $594,611,111
1969 $67,225,714 $556,293,651
1968 $67,514,286 $517,650,794
1967 $72,317,447 $492,674,603
1966 $69,110,000 $465,888,889
1965 $64,748,333 $443,587,302
1964 $51,915,000 $408,349,206
1963 $44,266,667 $383,904,762
1962 $37,253,333 $360,698,413
1961 - $322,053,713
1960 - $288,884,368

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

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

GDP per capita in Equatorial Guinea vs Paraguay by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Paraguay
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Paraguay
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,745 $17,567 $6,416 $18,524
2023 $6,678 $17,412 $6,300 $17,564
2022 $7,589 $18,140 $6,206 $16,347
2021 $6,946 $16,821 $5,977 $15,406
2020 $5,764 $13,677 $5,365 $14,309
2019 $6,804 $16,451 $5,821 $14,150
2018 $8,102 $18,413 $6,258 $14,139
2017 $7,809 $18,435 $6,152 $13,977
2016 $7,453 $16,649 $5,775 $13,329
2015 $9,069 $19,479 $5,879 $12,679
2014 $15,549 $27,177 $6,652 $12,607
2013 $16,304 $27,910 $6,436 $12,137
2012 $17,309 $30,012 $5,642 $10,954
2011 $17,198 $27,242 $5,805 $11,442
2010 $13,720 $26,168 $4,751 $10,893
2009 $13,233 $29,722 $3,942 $9,802
2008 $18,211 $30,523 $4,385 $9,867
2007 $12,617 $26,611 $3,212 $9,179
2006 $10,185 $23,511 $2,439 $8,561
2005 $8,674 $22,137 $1,971 $8,007
2004 $4,901 $19,354 $1,786 $7,686
2003 $2,931 $14,496 $1,444 $7,276
2002 $2,264 $13,255 $1,368 $6,924
2001 $1,949 $11,627 $1,638 $6,916
2000 $1,487 $7,420 $1,736 $6,937
1999 $931 $6,470 $1,766 $7,080
1998 $578 $5,280 $1,890 $7,227
1997 $717 $4,387 $2,079 $7,299
1996 $392 $1,793 $2,088 $7,040
1995 $248.3 $1,098 $1,979 $6,966
1994 $183.2 $951 $1,760 $6,542
1993 $256.7 $828 $1,662 $6,234
1992 $263.7 $756 $1,683 $5,952
1991 $225.3 $569 $1,685 $5,873
1990 $236.4 $577 $1,440 $5,637
1989 $193.2 - $1,211 -
1988 $228.7 - $1,114 -
1987 $220.9 - $1,069 -
1986 $188.8 - $1,031 -
1985 $161.1 - $935 -
1984 $137.9 - $1,319 -
1983 $129.4 - $1,710 -
1982 $137.5 - $1,680 -
1981 $121.1 - $1,793 -
1980 $175.5 - $1,457 -
1979 - - $1,149 -
1978 - - $883 -
1977 $376 - $740 -
1976 $369 - $616 -
1975 $362 - $562 -
1974 $319 - $508 -
1973 $268.6 - $389 -
1972 $211.4 - $308 -
1971 $205.6 - $272.1 -
1970 $206.8 - $249 -
1969 $208.4 - $238.2 -
1968 $211.7 - $226.8 -
1967 $231.9 - $220.9 -
1966 $226.7 - $213.9 -
1965 $217.1 - $208.7 -
1964 $177.8 - $197 -
1963 $154.8 - $189.9 -
1962 $132.9 - $182.8 -
1961 - - $167.1 -
1960 - - $153.4 -

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

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

Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $6,416 in Paraguay, ranking 109/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Paraguay ranks 102nd at $18,524.

Economic indicators

Equatorial Guinea Paraguay
Gross domestic product
$12.8B
2024
$44.5B
2024
GDP rank
148/197
2024
98/197
2024
GDP growth
0.91%
2023-2024
4.25%
2023-2024
GDP per capita
$6,745
2024
$6,416
2024
GDP per capita rank
106/197
2024
109/197
2024
GDP per capita, PPP
$17,567
2024
$18,524
2024
GDP per capita PPP rank
106/197
2024
102/197
2024
Government debt
$4.65B
2024
$19.9B
2024
Debt-to-GDP ratio
36.4%
2024
44.8%
2024
Government debt per person
$2,458
2024
$2,872
2024
Government debt per person rank
110/185
2024
103/185
2024
Average annual personal income after taxes
$5,042
2026
$6,136
2026
Market capitalization of domestic companies n/a
$313M
1999
Income share by richest 10%
29.1%
2022
35%
2024
Income share by poorest 10%
2.6%
2022
2%
2024
Government expenditure, % of GDP
18.5%
2024
21%
2024
Consumer prices inflation
3.4%
2023-2024
3.84%
2023-2024
Central bank interest rate n/a
6%
2024
Unemployment rate
8.6%
2014
5.69%
2024
Population
1998075
7120169

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Paraguay
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Paraguay
Government spending Government debt Government spending Government debt
2024 18.5% 36.4% 21% 44.8%
2023 19.2% 39.1% 21.5% 41.1%
2022 14.8% 29.8% 20.2% 40.5%
2021 12.7% 42.3% 20.4% 37.5%
2020 16.2% 49.4% 22.6% 36.9%
2019 16.8% 43.2% 20.1% 25.8%
2018 19.1% 40.6% 18.5% 22.3%
2017 20.1% 36.2% 18.1% 19.8%
2016 27.8% 41.1% 17.7% 19.4%
2015 41.6% 31.7% 18% 18.6%
2014 31.6% 12.6% 17.1% 15.6%
2013 29.3% 6.27% 17.1% 13.5%
2012 35.2% 7.1% 17.6% 12.3%
2011 27.5% 7.17% 14.7% 11.1%
2010 31.2% 7.89% 13.3% 13%
2009 39.8% 4.34% 14.3% 14.9%
2008 19.9% 0.49% 11.8% 16%
2007 19.7% 0.75% 13.1% 16.8%
2006 18.1% 1.22% 14.1% 21%
2005 14.1% 2.85% 14% 28.3%
2004 15.5% 4.54% 14% 36%
2003 11.8% 6.77% 14.6% 37.5%
2002 11.3% 19.4% 17.6% 50.5%
2001 13.5% 25.5% 19% 37.1%
2000 22.6% 36.6% 19.6% 33.6%
1999 18.7% 60.5% 19.2% 32%
1998 35.1% 59.2% 18% 22.1%
1997 14.8% 46.3% 18.1% 18%
1996 22.9% 91.2% 16.9% 16.8%
1995 141.5% 136.9% 15.7% 17.6%
1994 510% 216% 14.5% 18.7%
1993 256.3% 152.6% 12.9% 26.6%
1992 595% 136.9% 13% 34.4%
1991 284.5% 169.5% 11.4% 49.4%
1990 212.9% 157% 10.5% 67%
1989 116.8% 187% 11.8% 52.9%
1988 227.9% 154.5% 9.75% 58.9%
1987 183% 141.3% 10.1% 68.7%
1986 119% 152.5% 9.25% 57.1%
1985 115.4% 183.8% 11.4% 54.7%
1984 - - 13% 31%
1983 - - 13% 22.6%
1982 - - 13.2% 21.3%
1981 - - 13.3% 17.4%
1980 - - 11.6% 17.4%
1979 - - 11.7% 19.7%
1978 - - 11.9% 20.9%
1977 - - 11.2% 18.8%
1976 - - 9.8% 14.1%
1975 - - 10.5% 12.6%
1974 - - 9.44% 12.5%
1973 - - 11.2% 15.4%
1972 - - 12.5% 18.2%
1971 - - 12.3% 18.9%
1970 - - 13.3% 19.2%
1969 - - 14% -
1968 - - 13.5% -
1967 - - 12.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-02-20).

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

In 2024, Equatorial Guinea's government spending was $2.36B, accounting for 18.5% of its GDP, while Paraguay spent $9.33B, or 21% of GDP.

Debt-to-GDP ratio is 36.4% in Equatorial Guinea and 44.8% in Paraguay, ranking 143/185 and 120/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Paraguay
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Paraguay
2024 -0.55% -2.12%
2023 2.39% -3.81%
2022 11.7% -2.64%
2021 2.65% -3.39%
2020 -1.77% -5.72%
2019 1.82% -2.44%
2018 0.52% -1.01%
2017 -2.59% -0.44%
2016 -10.9% -0.37%
2015 -15.1% -0.44%
2014 -7.54% -0.27%
2013 -4.4% -1.16%
2012 -7.24% -0.58%
2011 0.83% 1.29%
2010 -4.53% 1.54%
2009 -6.47% 0.59%
2008 14.6% 2.29%
2007 17.2% 1.27%
2006 21.8% 0.91%
2005 18.5% 0.74%
2004 9.22% 1.33%
2003 9.99% -0.07%
2002 17.6% -1.89%
2001 14.9% 0.07%
2000 -2.67% -0.55%
1999 -0.19% 2.67%
1998 -7.65% 4.28%
1997 3.21% 3%
1996 -6.36% 2.43%
1995 -123.4% 2.78%
1994 -487% 4.59%
1993 -217.9% 4.27%
1992 -557% 3.1%
1991 -236% 3.41%
1990 -160.2% 7.56%
1989 -76.2% 5.48%
1988 -208.5% 3.01%
1987 -158% 2.68%
1986 -97.3% 3.08%
1985 -89.3% 0.85%
1984 - -0.42%
1983 - 0.27%
1982 - 1.52%
1981 - 0.15%
1980 - 3.4%
1979 - 4.13%
1978 - -3.42%
1977 - -0.19%
1976 - -0.06%
1975 - -1.24%
1974 - 1.67%
1973 - -0.91%
1972 - -2.51%
1971 - -1.25%
1970 - -1.26%
1969 - -1.62%
1968 - -2.34%
1967 - -1.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-02-20).

GeoRank.org/economy/equatorial-guinea/paraguay | 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 Paraguay's deficit of $942M, or 2.12% of GDP.

Over the past 40 years, Equatorial Guinea recorded a fiscal deficit in 25 of those years, while Paraguay ran a deficit in 16 years. On average, Equatorial Guinea posted an annual deficit equal to 58.6% of GDP, compared to surplus of 0.91% of GDP for Paraguay.

Inflation comparison by year

Inflation
Equatorial Guinea

Paraguay
1x
Year Consumer prices inflation
Equatorial Guinea Paraguay
2024 3.4% 3.84%
2023 2.4% 4.63%
2022 4.9% 9.77%
2021 -0.1% 4.79%
2020 4.8% 1.77%
2019 1.2% 2.76%
2018 1.3% 3.98%
2017 0.7% 3.6%
2016 1.4% 4.09%
2015 1.7% 3.13%
2014 4.3% 5.03%
2013 3.2% 2.68%
2012 3.4% 3.68%
2011 4.8% 8.25%
2010 5.3% 4.65%
2009 5.7% 2.59%
2008 4.7% 10.2%
2007 2.8% 8.13%
2006 4.5% 9.59%
2005 5.6% 6.81%
2004 4.2% 4.32%
2003 7.3% 14.2%
2002 7.6% 10.5%
2001 8.7% 7.27%
2000 4.8% 8.98%
1999 0.4% 6.75%
1998 7.9% 11.6%
1997 3% 6.95%

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/paraguay | CC BY

Over the past 28 years, Equatorial Guinea has recorded an average annual inflation rate of 3.93%, compared with 6.23% in Paraguay. In 2024, inflation was 3.4% in Equatorial Guinea and 3.84% in Paraguay.

Top exports between countries

Equatorial Guinea
Export category Export value
Paraguay
Export category Export value
Animal & marine products $352K

Balance of trade

Equatorial Guinea Paraguay
Current account balance
-$344M
1996
-$1.53B
2024
Current account balance ranking
101/190
1996
133/190
2024
Current account balance, % of GDP
-148%
1996
-3.44%
2024
Goods imports
$292M
1996
$15.8B
2024
Goods exports
$175M
1996
$14.9B
2024
Service imports
$185M
1996
$2.54B
2024
Service exports
$4.88M
1996
$2.65B
2024
Imports of goods and services, % of GDP
25.4%
2024
39.6%
2024
Exports of goods and services, % of GDP
35.2%
2024
37.2%
2024

Economic freedom indices

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

Equatorial Guinea Paraguay
Economic freedom 47.4 66.4
Economic freedom ranking 175/197 61/197
Property rights 16.9 44.2
Government integrity 6.9 27.3
Judicial effectiveness 7.2 38.4
Tax burden 81 95.9
Government spending 90.8 86.9
Fiscal health 97.3 83
Business freedom 35.9 72
Labor freedom 45.2 44.1
Monetary freedom 73.5 76.5
Trade freedom 43.6 78.4
Investment freedom 40 80
Financial freedom 30 70

Economic freedom comparison by year

Equatorial Guinea
Paraguay
1x
Year Economic freedom index
Equatorial Guinea Paraguay
2026 47.4 66.4
2025 47.7 65.2
2024 47.7 60.1
2023 48.3 61
2022 47.2 62.9
2021 49.2 62.6
2020 48.3 63
2019 41 61.8
2018 42 62.1
2017 45 62.4
2016 43.7 61.5
2015 40.4 61.1
2014 44.4 62
2013 42.3 61.1
2012 42.8 61.8
2011 47.5 62.3
2010 48.6 61.3
2009 51.3 61
2008 51.6 60
2007 53.2 58.3
2006 51.5 55.6
2005 53.3 53.4
2004 53.3 56.7
2003 53.1 58.2
2002 46.4 59.6
2001 47.9 60.3
2000 45.6 64
1999 45.1 63.7
1998 - 65.2
1997 - 67.3
1996 - 67.1
1995 - 65.9

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

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

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, compared to 66.4 for Paraguay, ranking 61/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Equatorial Guinea Paraguay
Services, % of GDP
51.1%
2024
48.7%
2024
Industry, % of GDP
45.8%
2024
32.5%
2024
Agriculture, forestry, and fishing, % of GDP
3.15%
2024
10.7%
2024
GNI, Atlas method
$8.96B
2024
$43.7B
2024
GNI per capita, PPP
$12,330
2024
$17,930
2024
Total reserves including gold
$1.54B
2023
$9.89B
2023
Total reserves ranking
134/177
2023
76/177
2023
Net foreign direct investment
-$376M
1996
-$335M
2024
Net inflows of foreign direct investment
$188M
2024
$1.1B
2024
Net outflows of foreign direct investment
$154M
2024
$166M
2024
Servicing debt to the IMF, % of GNI n/a
4.58%
2024
Poverty at national poverty lines
50.7%
2022
20.1%
2024
Gross capital formation, % of GDP
8.96%
2024
22.8%
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/paraguay | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  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 (2024, 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.