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Economy of Equatorial Guinea vs Sao Tome and Principe compared: GDP & Debt

Updated on by Georank team

Equatorial Guinea has a GDP of $12.8B compared to $822M for Sao Tome and Principe, ranking 148/197 and 189/197 by economy size, respectively.

Equatorial Guinea has $4.65B in government debt (36.4% of GDP), compared to $533M (64.8% of GDP) in Sao Tome and Principe.

Equatorial Guinea vs Sao Tome and Principe GDP by year

Equatorial Guinea
Sao Tome and Principe
1x
Year GDP, current $
Equatorial Guinea Sao Tome
2024 $12,765,777,677 $822,154,621
2023 $12,337,550,584 $690,456,807
2022 $13,687,643,436 $540,809,499
2021 $12,215,878,033 $524,402,456
2020 $9,893,816,008 $471,229,485
2019 $11,364,133,550 $412,976,083
2018 $13,097,012,134 $383,717,328
2017 $12,200,913,879 $322,002,845
2016 $11,240,808,848 $292,267,272
2015 $13,185,496,881 $259,999,643
2014 $21,765,453,082 $293,119,143
2013 $21,948,834,284 $267,041,748
2012 $22,388,344,144 $225,815,132
2011 $21,357,343,669 $226,455,001
2010 $16,314,443,436 $190,021,192
2009 $15,027,795,173 $200,668,065
2008 $19,749,893,536 $188,021,165
2007 $13,071,718,759 $149,146,919
2006 $10,086,528,699 $142,775,104
2005 $8,217,369,093 $136,450,662
2004 $4,410,764,339 $114,582,284
2003 $2,484,745,935 $102,085,769
2002 $1,806,742,742 $85,171,074
2001 $1,461,139,022 $75,951,133
2000 $1,045,998,496 $76,198,395
1999 $621,117,886 $77,302,212
1998 $370,687,634 $72,285,404
1997 $442,337,871 $91,920,274
1996 $232,463,023 $135,188,166
1995 $141,853,361 $103,695,237
1994 $100,807,003 $131,338,415
1993 $136,047,906 $125,742,229
1992 $134,707,184 $94,861,781
1991 $110,906,029 $107,484,143
1990 $112,119,411 $119,297,933
1989 $88,265,975 $98,545,367
1988 $100,534,657 $99,000,764
1987 $93,345,860 $115,952,925
1986 $76,407,396 $115,928,907
1985 $62,118,570 $82,733,069
1984 $50,320,914 $78,213,796
1983 $44,442,457 $75,110,289
1982 $44,294,648 $80,307,763
1981 $36,731,423 $83,499,264
1980 $50,642,881 $81,662,231
1979 - $65,755,928
1978 - $55,044,563
1977 $103,987,520 $49,207,692
1976 $103,653,050 $52,039,421
1975 $104,295,643 $60,101,710
1974 $94,159,863 $57,817,591
1973 $81,203,227 $56,011,245
1972 $65,429,198 $41,430,257
1971 $64,946,955 $37,288,845
1970 $66,331,429 $37,211,826
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/sao-tome-and-principe | CC BY

GDP per capita in Equatorial Guinea vs Sao Tome and Principe by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Sao Tome and Principe
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Sao Tome
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,745 $17,567 $3,491 $6,242
2023 $6,678 $17,412 $2,991 $6,150
2022 $7,589 $18,140 $2,390 $6,034
2021 $6,946 $16,821 $2,363 $5,733
2020 $5,764 $13,677 $2,167 $5,145
2019 $6,804 $16,451 $1,935 $4,655
2018 $8,102 $18,413 $1,826 $3,941
2017 $7,809 $18,435 $1,556 $3,436
2016 $7,453 $16,649 $1,435 $3,320
2015 $9,069 $19,479 $1,298 $3,172
2014 $15,549 $27,177 $1,490 $3,233
2013 $16,304 $27,910 $1,383 $2,946
2012 $17,309 $30,012 $1,192 $2,653
2011 $17,198 $27,242 $1,220 $2,914
2010 $13,720 $26,168 $1,045 $2,859
2009 $13,233 $29,722 $1,128 $2,846
2008 $18,211 $30,523 $1,082 $2,802
2007 $12,617 $26,611 $879 $2,650
2006 $10,185 $23,511 $862 $2,551
2005 $8,674 $22,137 $844 $2,329
2004 $4,901 $19,354 $727 $2,171
2003 $2,931 $14,496 $664 $2,094
2002 $2,264 $13,255 $568 $1,945
2001 $1,949 $11,627 $519 $1,898
2000 $1,487 $7,420 $529 $1,830
1999 $931 $6,470 $543 $1,802
1998 $578 $5,280 $514 $1,754
1997 $717 $4,387 $662 $1,714
1996 $392 $1,793 $987 $1,693
1995 $248.3 $1,098 $769 $1,663
1994 $183.2 $951 $990 $1,623
1993 $256.7 $828 $964 $1,581
1992 $263.7 $756 $740 $1,556
1991 $225.3 $569 $855 $1,540
1990 $236.4 $577 $970 $1,504
1989 $193.2 - $821 -
1988 $228.7 - $847 -
1987 $220.9 - $1,018 -
1986 $188.8 - $1,043 -
1985 $161.1 - $761 -
1984 $137.9 - $735 -
1983 $129.4 - $720 -
1982 $137.5 - $783 -
1981 $121.1 - $830 -
1980 $175.5 - $829 -
1979 - - $683 -
1978 - - $587 -
1977 $376 - $539 -
1976 $369 - $585 -
1975 $362 - $693 -
1974 $319 - $683 -
1973 $268.6 - $676 -
1972 $211.4 - $511 -
1971 $205.6 - $470 -
1970 $206.8 - $479 -
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/sao-tome-and-principe | CC BY

Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $3,491 in Sao Tome and Principe, ranking 134/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Sao Tome and Principe ranks 151st at $6,242.

Economic indicators

Equatorial Guinea Sao Tome
Gross domestic product
$12.8B
2024
$822M
2024
GDP rank
148/197
2024
189/197
2024
GDP growth
0.91%
2023-2024
1.1%
2023-2024
GDP per capita
$6,745
2024
$3,491
2024
GDP per capita rank
106/197
2024
134/197
2024
GDP per capita, PPP
$17,567
2024
$6,242
2024
GDP per capita PPP rank
106/197
2024
151/197
2024
Government debt
$4.65B
2024
$533M
2024
Debt-to-GDP ratio
36.4%
2024
64.8%
2024
Government debt per person
$2,458
2024
$2,262
2024
Government debt per person rank
110/185
2024
116/185
2024
Average annual personal income after taxes
$5,042
2026
$3,111
2026
Income share by richest 10%
29.1%
2022
32.8%
2017
Income share by poorest 10%
2.6%
2022
2.6%
2017
Government expenditure, % of GDP
18.5%
2024
24.7%
2024
Consumer prices inflation
3.4%
2023-2024
14.4%
2023-2024
Unemployment rate
8.6%
2014
6.66%
2017
Population
1998075
246362

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Sao Tome and Principe
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Sao Tome
Government spending Government debt Government spending Government debt
2024 18.5% 36.4% 24.7% 64.8%
2023 19.2% 39.1% 23.9% 73.2%
2022 14.8% 29.8% 27.7% 86.8%
2021 12.7% 42.3% 25.6% 85.1%
2020 16.2% 49.4% 23.2% 91%
2019 16.8% 43.2% 22.8% 98.6%
2018 19.1% 40.6% 28% 95.9%
2017 20.1% 36.2% 31.9% 92.3%
2016 27.8% 41.1% 38.3% 104.6%
2015 41.6% 31.7% 41.6% 101.1%
2014 31.6% 12.6% 36% 92.5%
2013 29.3% 6.27% 35.5% 76.8%
2012 35.2% 7.1% 50.5% 59.6%
2011 27.5% 7.17% 53.4% 86%
2010 31.2% 7.89% 51.7% 83%
2009 39.8% 4.34% 48.6% 70.3%
2008 19.9% 0.49% 30.4% 60.7%
2007 19.7% 0.75% 38.9% 110.1%
2006 18.1% 1.22% 32.5% 283.2%
2005 14.1% 2.85% 43.7% 334%
2004 15.5% 4.54% 60.6% 354%
2003 11.8% 6.77% 51.9% 329%
2002 11.3% 19.4% 44.3% 367%
2001 13.5% 25.5% 52.8% 418%
2000 22.6% 36.6% 10.7% -
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-02-20).

GeoRank.org/economy/equatorial-guinea/sao-tome-and-principe | CC BY

In 2024, Equatorial Guinea's government spending was $2.36B, accounting for 18.5% of its GDP, while Sao Tome and Principe spent $203M, or 24.7% of GDP.

Debt-to-GDP ratio is 36.4% in Equatorial Guinea and 64.8% in Sao Tome and Principe, ranking 143/185 and 69/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Sao Tome and Principe
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Sao Tome
2024 -0.55% 0.92%
2023 2.39% -2.13%
2022 11.7% -2.24%
2021 2.65% -1.52%
2020 -1.77% 2.94%
2019 1.82% -0.07%
2018 0.52% -2.02%
2017 -2.59% -3.11%
2016 -10.9% -5.01%
2015 -15.1% -7.6%
2014 -7.54% -6.27%
2013 -4.4% 2.13%
2012 -7.24% -12.3%
2011 0.83% -13%
2010 -4.53% -12.1%
2009 -6.47% -18%
2008 14.6% 13.6%
2007 17.2% 125.1%
2006 21.8% 18%
2005 18.5% 26.8%
2004 9.22% -25.1%
2003 9.99% -15.9%
2002 17.6% -10.4%
2001 14.9% -13.5%
2000 -2.67% 51.5%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-02-20).

GeoRank.org/economy/equatorial-guinea/sao-tome-and-principe | 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 Sao Tome and Principe's surplus of $7.57M, or 0.92% of GDP.

Over the past 25 years, Equatorial Guinea recorded a fiscal deficit in 11 of those years, while Sao Tome and Principe ran a deficit in 17 years. On average, Equatorial Guinea posted an annual surplus equal to 3.2% of GDP, compared to surplus of 3.63% of GDP for Sao Tome and Principe.

Inflation comparison by year

Inflation
Equatorial Guinea

Sao Tome and Principe
1x
Year Consumer prices inflation
Equatorial Guinea Sao Tome
2024 3.4% 14.4%
2023 2.4% 21.2%
2022 4.9% 18%
2021 -0.1% 8.1%
2020 4.8% 9.8%
2019 1.2% 7.7%
2018 1.3% 7.9%
2017 0.7% 5.7%
2016 1.4% 5.4%
2015 1.7% 6.1%
2014 4.3% 7%
2013 3.2% 8.1%
2012 3.4% 10.6%
2011 4.8% 14.3%
2010 5.3% 13.3%
2009 5.7% 17%
2008 4.7% 32%
2007 2.8% 18.6%
2006 4.5% 23.1%
2005 5.6% 17.2%
2004 4.2% 13.3%
2003 7.3% 9.8%
2002 7.6% 10.1%
2001 8.7% 9.2%
2000 4.8% 11%
1999 0.4% 11%
1998 7.9% 42.1%
1997 3% 69%

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

GeoRank.org/economy/equatorial-guinea/sao-tome-and-principe | CC BY

Over the past 28 years, Equatorial Guinea has recorded an average annual inflation rate of 3.93%, compared with 15.8% in Sao Tome and Principe. In 2024, inflation was 3.4% in Equatorial Guinea and 14.4% in Sao Tome and Principe.

Top exports between countries

Equatorial Guinea
Export category Export value
Processed food, beverages & tobacco $348K
Textiles & consumer goods $302K
Raw materials & minerals $233K
Machinery & equipment $211K
Chemicals & pharma $176K
Metals $137K
Raw agricultural goods $109K
Miscellaneous $77K
Animal & marine products $39K
Wood & paper products $29K
Sao Tome
Export category Export value
Machinery & equipment $179K
Chemicals & pharma $59K
Animal & marine products $46K
Processed food, beverages & tobacco $17K
Raw materials & minerals $7K
Textiles & consumer goods $2K

Balance of trade

Equatorial Guinea Sao Tome
Current account balance
-$344M
1996
$41.5M
2024
Current account balance ranking
101/190
1996
74/190
2024
Current account balance, % of GDP
-148%
1996
+5.05%
2024
Goods imports
$292M
1996
$153M
2024
Goods exports
$175M
1996
$29.3M
2024
Service imports
$185M
1996
$83M
2024
Service exports
$4.88M
1996
$88.2M
2024
Imports of goods and services, % of GDP
25.4%
2024
n/a
Exports of goods and services, % of GDP
35.2%
2024
10%
2025

Economic freedom indices

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

Equatorial Guinea Sao Tome
Economic freedom 47.4 60.6
Economic freedom ranking 175/197 93/197
Property rights 16.9 55.2
Government integrity 6.9 47.2
Judicial effectiveness 7.2 60.8
Tax burden 81 88.6
Government spending 90.8 80.6
Fiscal health 97.3 89.5
Business freedom 35.9 59.9
Labor freedom 45.2 40.8
Monetary freedom 73.5 59.4
Trade freedom 43.6 65
Investment freedom 40 50
Financial freedom 30 30

Economic freedom comparison by year

Equatorial Guinea
Sao Tome and Principe
1x
Year Economic freedom index
Equatorial Guinea Sao Tome
2026 47.4 60.6
2025 47.7 60.4
2024 47.7 60.5
2023 48.3 61.5
2022 47.2 60.3
2021 49.2 55.9
2020 48.3 56.2
2019 41 54
2018 42 53.6
2017 45 55.4
2016 43.7 56.7
2015 40.4 53.3
2014 44.4 48.8
2013 42.3 48
2012 42.8 50.2
2011 47.5 49.5
2010 48.6 48.8
2009 51.3 43.8
2008 51.6 -
2007 53.2 -
2006 51.5 -
2005 53.3 -
2004 53.3 -
2003 53.1 -
2002 46.4 -
2001 47.9 -
2000 45.6 -
1999 45.1 -

Data sources: The Heritage Foundation | Economic Freedom Index (1999–2026, retrieved 2026-03-09).

GeoRank.org/economy/equatorial-guinea/sao-tome-and-principe | CC BY

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, compared to 60.6 for Sao Tome and Principe, ranking 93/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Equatorial Guinea Sao Tome
Services, % of GDP
51.1%
2024
80.3%
2024
Industry, % of GDP
45.8%
2024
2.83%
2024
Agriculture, forestry, and fishing, % of GDP
3.15%
2024
12.5%
2024
GNI, Atlas method
$8.96B
2024
$671M
2024
GNI per capita, PPP
$12,330
2024
$6,240
2024
Total reserves including gold
$1.54B
2023
$46.2M
2023
Total reserves ranking
134/177
2023
176/177
2023
Net foreign direct investment
-$376M
1996
$20.5M
2024
Net inflows of foreign direct investment
$188M
2024
-$16.7M
2024
Net outflows of foreign direct investment
$154M
2024
$3.83M
2024
Servicing debt to the IMF, % of GNI n/a
0.64%
2024
Poverty at national poverty lines
50.7%
2022
66.2%
2020
Gross capital formation, % of GDP
8.96%
2024
n/a

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/sao-tome-and-principe | 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 (1999–2026, 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 (2021–2023, retrieved 2026-02-08)
  7. Central Intelligence Agency (CIA) (2014–2020, retrieved 2026-02-20)
  8. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  9. LivingCost (2026, retrieved 2025-10-14)

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.