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Economy of Equatorial Guinea vs Rwanda compared: GDP & Debt

Updated on by Georank team

Equatorial Guinea has a GDP of $12.8B compared to $14.3B for Rwanda, ranking 148/197 and 144/197 by economy size, respectively.

Equatorial Guinea has $4.65B in government debt (36.4% of GDP), compared to $9.58B (67.2% of GDP) in Rwanda.

Equatorial Guinea vs Rwanda GDP by year

Equatorial Guinea
Rwanda
1x
Year GDP, current $
Equatorial Guinea Rwanda
2024 $12,765,777,677 $14,251,642,235
2023 $12,337,550,584 $14,331,722,703
2022 $13,687,643,436 $13,316,161,002
2021 $12,215,878,033 $11,078,787,090
2020 $9,893,816,008 $10,174,386,857
2019 $11,364,133,550 $10,349,300,277
2018 $13,097,012,134 $9,637,904,521
2017 $12,200,913,879 $9,252,833,891
2016 $11,240,808,848 $8,695,272,058
2015 $13,185,496,881 $8,543,760,200
2014 $21,765,453,082 $8,238,966,124
2013 $21,948,834,284 $7,819,964,030
2012 $22,388,344,144 $7,654,761,050
2011 $21,357,343,669 $6,884,913,658
2010 $16,314,443,436 $6,124,756,654
2009 $15,027,795,173 $5,674,476,969
2008 $19,749,893,536 $5,179,854,065
2007 $13,071,718,759 $4,070,507,895
2006 $10,086,528,699 $3,319,784,539
2005 $8,217,369,093 $2,933,819,766
2004 $4,410,764,339 $2,376,496,067
2003 $2,484,745,935 $2,138,237,279
2002 $1,806,742,742 $1,966,003,468
2001 $1,461,139,022 $1,966,600,715
2000 $1,045,998,496 $2,068,836,754
1999 $621,117,886 $2,157,108,263
1998 $370,687,634 $1,989,343,546
1997 $442,337,871 $1,851,558,197
1996 $232,463,023 $1,382,334,879
1995 $141,853,361 $1,293,535,193
1994 $100,807,003 $753,636,370
1993 $136,047,906 $1,971,525,712
1992 $134,707,184 $2,029,026,962
1991 $110,906,029 $1,911,600,237
1990 $112,119,411 $2,550,185,679
1989 $88,265,975 $2,405,022,593
1988 $100,534,657 $2,395,492,687
1987 $93,345,860 $2,157,432,668
1986 $76,407,396 $1,944,710,684
1985 $62,118,570 $1,715,626,331
1984 $50,320,914 $1,587,413,084
1983 $44,442,457 $1,479,687,587
1982 $44,294,648 $1,407,243,139
1981 $36,731,423 $1,407,062,527
1980 $50,642,881 $1,254,765,642
1979 - $1,109,346,131
1978 - $905,709,076
1977 $103,987,520 $746,650,613
1976 $103,653,050 $637,753,853
1975 $104,295,643 $571,863,500
1974 $94,159,863 $308,458,423
1973 $81,203,227 $290,746,157
1972 $65,429,198 $246,457,838
1971 $64,946,955 $222,952,504
1970 $66,331,429 $219,900,006
1969 $67,225,714 $188,700,037
1968 $67,514,286 $172,200,018
1967 $72,317,447 $159,560,018
1966 $69,110,000 $124,525,703
1965 $64,748,333 $148,799,980
1964 $51,915,000 $129,999,994
1963 $44,266,667 $128,000,000
1962 $37,253,333 $125,000,008
1961 - $122,000,016
1960 - $119,000,024

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

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

GDP per capita in Equatorial Guinea vs Rwanda by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Rwanda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Rwanda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,745 $17,567 $1,000 $3,711
2023 $6,678 $17,412 $1,027 $3,399
2022 $7,589 $18,140 $975 $3,099
2021 $6,946 $16,821 $830 $2,733
2020 $5,764 $13,677 $779 $2,285
2019 $6,804 $16,451 $810 $2,336
2018 $8,102 $18,413 $772 $2,125
2017 $7,809 $18,435 $758 $1,968
2016 $7,453 $16,649 $730 $1,866
2015 $9,069 $19,479 $734 $1,781
2014 $15,549 $27,177 $725 $1,678
2013 $16,304 $27,910 $705 $1,512
2012 $17,309 $30,012 $707 $1,455
2011 $17,198 $27,242 $651 $1,413
2010 $13,720 $26,168 $594 $1,314
2009 $13,233 $29,722 $564 $1,241
2008 $18,211 $30,523 $528 $1,191
2007 $12,617 $26,611 $426 $1,079
2006 $10,185 $23,511 $357 $1,002
2005 $8,674 $22,137 $324 $914
2004 $4,901 $19,354 $269.5 $832
2003 $2,931 $14,496 $249 $775
2002 $2,264 $13,255 $234 $760
2001 $1,949 $11,627 $237.3 $670
2000 $1,487 $7,420 $251.9 $609
1999 $931 $6,470 $264.7 $554
1998 $578 $5,280 $246.2 $528
1997 $717 $4,387 $238.7 $500
1996 $392 $1,793 $206 $499
1995 $248.3 $1,098 $228 $514
1994 $183.2 $951 $111 $311
1993 $256.7 $828 $247 $521
1992 $263.7 $756 $264.1 $575
1991 $225.3 $569 $254 $542
1990 $236.4 $577 $346 $549
1989 $193.2 - $335 -
1988 $228.7 - $344 -
1987 $220.9 - $320 -
1986 $188.8 - $297.7 -
1985 $161.1 - $271.6 -
1984 $137.9 - $259.9 -
1983 $129.4 - $250.6 -
1982 $137.5 - $246.4 -
1981 $121.1 - $254.6 -
1980 $175.5 - $234.4 -
1979 - - $213.8 -
1978 - - $179.9 -
1977 $376 - $152.7 -
1976 $369 - $134.4 -
1975 $362 - $124.1 -
1974 $319 - $68.9 -
1973 $268.6 - $66.9 -
1972 $211.4 - $58.4 -
1971 $205.6 - $54.4 -
1970 $206.8 - $55.2 -
1969 $208.4 - $48.9 -
1968 $211.7 - $46 -
1967 $231.9 - $44 -
1966 $226.7 - $35.4 -
1965 $217.1 - $43.5 -
1964 $177.8 - $39 -
1963 $154.8 - $39.3 -
1962 $132.9 - $39.2 -
1961 - - $39.3 -
1960 - - $39.4 -

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

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

Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $1,000 in Rwanda, ranking 178/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Rwanda ranks 168th at $3,711.

Economic indicators

Equatorial Guinea Rwanda
Gross domestic product
$12.8B
2024
$14.3B
2024
GDP rank
148/197
2024
144/197
2024
GDP growth
0.91%
2023-2024
8.89%
2023-2024
GDP per capita
$6,745
2024
$1,000
2024
GDP per capita rank
106/197
2024
178/197
2024
GDP per capita, PPP
$17,567
2024
$3,711
2024
GDP per capita PPP rank
106/197
2024
168/197
2024
Government debt
$4.65B
2024
$9.58B
2024
Debt-to-GDP ratio
36.4%
2024
67.2%
2024
Government debt per person
$2,458
2024
$672
2024
Government debt per person rank
110/185
2024
157/185
2024
Average annual personal income after taxes
$5,042
2026
$2,194
2026
Market capitalization of domestic companies n/a
$2.75B
2024
Income share by richest 10%
29.1%
2022
33.4%
2023
Income share by poorest 10%
2.6%
2022
3.1%
2023
Government expenditure, % of GDP
18.5%
2024
28.8%
2024
Consumer prices inflation
3.4%
2023-2024
1.77%
2023-2024
Central bank interest rate n/a
6.75%
2025
Unemployment rate
8.6%
2014
11.3%
2024
Population
1998075
14975051

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Rwanda
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Rwanda
Government spending Government debt Government spending Government debt
2024 18.5% 36.4% 28.8% 67.2%
2023 19.2% 39.1% 27% 63.4%
2022 14.8% 29.8% 29.7% 60.9%
2021 12.7% 42.3% 31.6% 67.3%
2020 16.2% 49.4% 33.5% 68.7%
2019 16.8% 43.2% 28.2% 53.6%
2018 19.1% 40.6% 26.4% 49.2%
2017 20.1% 36.2% 25.1% 45.6%
2016 27.8% 41.1% 25.1% 41.1%
2015 41.6% 31.7% 26.6% 33.1%
2014 31.6% 12.6% 27.5% 29.1%
2013 29.3% 6.27% 26.2% 26.7%
2012 35.2% 7.1% 24.6% 19.1%
2011 27.5% 7.17% 24.7% 18.7%
2010 31.2% 7.89% 23.8% 18.8%
2009 39.8% 4.34% 22.3% 18.5%
2008 19.9% 0.49% 22.5% 18.3%
2007 19.7% 0.75% 22.4% 22.1%
2006 18.1% 1.22% 20.6% 22.5%
2005 14.1% 2.85% 19.9% 58.9%
2004 15.5% 4.54% 17.9% 80.9%
2003 11.8% 6.77% 18.5% 79.5%
2002 11.3% 19.4% 20.5% 92%
2001 13.5% 25.5% 19.1% 84%
2000 22.6% 36.6% 18.2% 86%
1999 18.7% 60.5% 22.4% 78.4%
1998 35.1% 59.2% 16.4% 70.1%
1997 14.8% 46.3% 17% 72.2%
1996 22.9% 91.2% 19.5% 83.4%
1995 141.5% 136.9% 18% 100.8%
1994 510% 216% 13.3% -
1993 256.3% 152.6% 20.3% -
1992 595% 136.9% 21.5% -
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/rwanda | CC BY

In 2024, Equatorial Guinea's government spending was $2.36B, accounting for 18.5% of its GDP, while Rwanda spent $4.1B, or 28.8% of GDP.

Debt-to-GDP ratio is 36.4% in Equatorial Guinea and 67.2% in Rwanda, ranking 143/185 and 65/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Rwanda
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Rwanda
2024 -0.55% -6.57%
2023 2.39% -5.04%
2022 11.7% -5.74%
2021 2.65% -7%
2020 -1.77% -9.54%
2019 1.82% -5.08%
2018 0.52% -2.57%
2017 -2.59% -2.52%
2016 -10.9% -2.27%
2015 -15.1% -2.68%
2014 -7.54% -3.92%
2013 -4.4% -1.27%
2012 -7.24% -2.38%
2011 0.83% -0.86%
2010 -4.53% -0.64%
2009 -6.47% 0.26%
2008 14.6% 0.83%
2007 17.2% -1.56%
2006 21.8% -0.03%
2005 18.5% 1.12%
2004 9.22% 2.27%
2003 9.99% -1.23%
2002 17.6% -2.03%
2001 14.9% -1.8%
2000 -2.67% -0.22%
1999 -0.19% -4.41%
1998 -7.65% -2.59%
1997 3.21% -2.22%
1996 -6.36% -5.01%
1995 -123.4% -2.04%
1994 -487% -9.54%
1993 -217.9% -6.6%
1992 -557% -7.21%
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/rwanda | 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 Rwanda's deficit of $936M, or 6.57% of GDP.

Over the past 33 years, Equatorial Guinea recorded a fiscal deficit in 18 of those years, while Rwanda ran a deficit in 29 years. On average, Equatorial Guinea posted an annual deficit equal to 39.9% of GDP, compared to deficit of 3.03% of GDP for Rwanda.

Inflation comparison by year

Inflation
Equatorial Guinea

Rwanda
1x
Year Consumer prices inflation
Equatorial Guinea Rwanda
2024 3.4% 1.77%
2023 2.4% 19.8%
2022 4.9% 17.7%
2021 -0.1% -0.39%
2020 4.8% 9.85%
2019 1.2% 3.35%
2018 1.3% -0.31%
2017 0.7% 8.28%
2016 1.4% 7.17%
2015 1.7% 2.53%
2014 4.3% 2.35%
2013 3.2% 5.92%
2012 3.4% 10.3%
2011 4.8% 3.08%
2010 5.3% -0.25%
2009 5.7% 12.9%
2008 4.7% 15.4%
2007 2.8% 9.08%
2006 4.5% 8.88%
2005 5.6% 9.01%
2004 4.2% 12.3%
2003 7.3% 7.45%
2002 7.6% 1.99%
2001 8.7% 3.34%
2000 4.8% 3.9%
1999 0.4% -2.41%
1998 7.9% 6.21%
1997 3% 12%

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/rwanda | CC BY

Over the past 28 years, Equatorial Guinea has recorded an average annual inflation rate of 3.93%, compared with 6.83% in Rwanda. In 2024, inflation was 3.4% in Equatorial Guinea and 1.77% in Rwanda.

Top exports between countries

Equatorial Guinea
Export category Export value
Processed food, beverages & tobacco $1K
Rwanda
Export category Export value

Balance of trade

Equatorial Guinea Rwanda
Current account balance
-$344M
1996
-$1.81B
2024
Current account balance ranking
101/190
1996
140/190
2024
Current account balance, % of GDP
-148%
1996
-12.7%
2024
Goods imports
$292M
1996
$5.55B
2024
Goods exports
$175M
1996
$3.2B
2024
Service imports
$185M
1996
$991M
2024
Service exports
$4.88M
1996
$1.08B
2024
Imports of goods and services, % of GDP
25.4%
2024
39.1%
2024
Exports of goods and services, % of GDP
35.2%
2024
30.8%
2024

Economic freedom indices

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

Equatorial Guinea Rwanda
Economic freedom 47.4 56.5
Economic freedom ranking 175/197 121/197
Property rights 16.9 60.3
Government integrity 6.9 53.9
Judicial effectiveness 7.2 27.5
Tax burden 81 80.6
Government spending 90.8 75.7
Fiscal health 97.3 37.5
Business freedom 35.9 60.1
Labor freedom 45.2 49.1
Monetary freedom 73.5 72.3
Trade freedom 43.6 61.8
Investment freedom 40 60
Financial freedom 30 40

Economic freedom comparison by year

Equatorial Guinea
Rwanda
1x
Year Economic freedom index
Equatorial Guinea Rwanda
2026 47.4 56.5
2025 47.7 54.8
2024 47.7 51.6
2023 48.3 52.2
2022 47.2 57.1
2021 49.2 68.3
2020 48.3 70.9
2019 41 71.1
2018 42 69.1
2017 45 67.6
2016 43.7 63.1
2015 40.4 64.8
2014 44.4 64.7
2013 42.3 64.1
2012 42.8 64.9
2011 47.5 62.7
2010 48.6 59.1
2009 51.3 54.2
2008 51.6 54.2
2007 53.2 52.4
2006 51.5 52.8
2005 53.3 51.7
2004 53.3 53.3
2003 53.1 47.8
2002 46.4 50.4
2001 47.9 45.4
2000 45.6 42.3
1999 45.1 39.8
1998 - 39.1
1997 - 38.3

Data sources: The Heritage Foundation | Economic Freedom Index (1997–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, compared to 56.5 for Rwanda, ranking 121/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Equatorial Guinea Rwanda
Services, % of GDP
51.1%
2024
47.6%
2024
Industry, % of GDP
45.8%
2024
21%
2024
Agriculture, forestry, and fishing, % of GDP
3.15%
2024
24.6%
2024
GNI, Atlas method
$8.96B
2024
$14.8B
2024
GNI per capita, PPP
$12,330
2024
$3,620
2024
Total reserves including gold
$1.54B
2023
$2.41B
2024
Total reserves ranking
134/177
2023
123/177
2024
Net foreign direct investment
-$376M
1996
-$560M
2024
Net inflows of foreign direct investment
$188M
2024
$573M
2024
Net outflows of foreign direct investment
$154M
2024
$13.2M
2024
Servicing debt to the IMF, % of GNI n/a
3.09%
2024
Poverty at national poverty lines
50.7%
2022
27.4%
2023
Gross capital formation, % of GDP
8.96%
2024
25.9%
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/rwanda | 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 (1997–2026, 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. 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 (2022, 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.