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Economy of Equatorial Guinea vs Saudi Arabia compared: GDP & Debt

Updated on by Georank team

Equatorial Guinea has a GDP of $12.8B compared to $1.24T for Saudi Arabia, ranking 148/197 and 18/197 by economy size, respectively.

Equatorial Guinea has $4.65B in government debt (36.4% of GDP), compared to $324B (26.2% of GDP) in Saudi Arabia.

Equatorial Guinea vs Saudi Arabia GDP by year

Equatorial Guinea
Saudi Arabia
1x
Year GDP, current $
Equatorial Guinea Saudi Arabia
2024 $12,765,777,677 $1,239,804,533,333
2023 $12,337,550,584 $1,218,584,533,333
2022 $13,687,643,436 $1,239,075,200,000
2021 $12,215,878,033 $982,661,066,667
2020 $9,893,816,008 $767,951,200,000
2019 $11,364,133,550 $888,890,133,333
2018 $13,097,012,134 $886,564,800,000
2017 $12,200,913,879 $741,266,133,333
2016 $11,240,808,848 $689,279,466,667
2015 $13,185,496,881 $693,414,400,000
2014 $21,765,453,082 $787,153,066,667
2013 $21,948,834,284 $769,755,733,333
2012 $22,388,344,144 $751,921,333,333
2011 $21,357,343,669 $680,660,800,000
2010 $16,314,443,436 $528,207,466,667
2009 $15,027,795,173 $429,097,866,667
2008 $19,749,893,536 $519,796,800,000
2007 $13,071,718,759 $415,964,509,673
2006 $10,086,528,699 $376,900,133,511
2005 $8,217,369,093 $328,459,608,764
2004 $4,410,764,339 $258,742,133,333
2003 $2,484,745,935 $215,807,733,333
2002 $1,806,742,742 $189,605,866,667
2001 $1,461,139,022 $184,137,600,000
2000 $1,045,998,496 $189,514,933,333
1999 $621,117,886 $161,717,066,667
1998 $370,687,634 $146,775,466,667
1997 $442,337,871 $165,963,684,913
1996 $232,463,023 $158,662,483,311
1995 $141,853,361 $143,343,124,166
1994 $100,807,003 $135,174,899,866
1993 $136,047,906 $132,967,957,276
1992 $134,707,184 $137,087,850,467
1991 $110,906,029 $132,223,230,975
1990 $112,119,411 $117,630,173,565
1989 $88,265,975 $95,344,459,279
1988 $100,534,657 $88,256,074,766
1987 $93,345,860 $85,695,861,148
1986 $76,407,396 $86,961,922,765
1985 $62,118,570 $103,897,846,494
1984 $50,320,914 $119,624,858,116
1983 $44,442,457 $129,171,635,311
1982 $44,294,648 $153,240,313,858
1981 $36,731,423 $184,291,360,139
1980 $50,642,881 $164,539,660,725
1979 - $111,858,444,786
1978 - $80,266,516,687
1977 $103,987,520 $74,188,986,586
1976 $103,653,050 $64,005,665,722
1975 $104,295,643 $46,773,208,643
1974 $94,159,863 $45,412,957,746
1973 $81,203,227 $14,947,435,499
1972 $65,429,198 $9,664,267,087
1971 $64,946,955 $7,184,806,909
1970 $66,331,429 $5,377,333,333
1969 $67,225,714 $4,485,777,644
1968 $67,514,286 $4,187,777,711
1967 $72,317,447 $3,257,022,223
1966 $69,110,000 $2,920,555,557
1965 $64,748,333 $2,647,955,558
1964 $51,915,000 $2,371,808,713
1963 $44,266,667 $2,207,393,172
1962 $37,253,333 $2,130,606,532
1961 - $1,920,811,284
1960 - $1,748,124,064

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

GeoRank.org/economy/equatorial-guinea/saudi-arabia | CC BY

GDP per capita in Equatorial Guinea vs Saudi Arabia by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Saudi Arabia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Saudi Arabia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,745 $17,567 $35,122 $71,375
2023 $6,678 $17,412 $36,157 $71,565
2022 $7,589 $18,140 $38,510 $71,968
2021 $6,946 $16,821 $31,921 $62,690
2020 $5,764 $13,677 $24,339 $47,518
2019 $6,804 $16,451 $29,567 $59,560
2018 $8,102 $18,413 $29,360 $59,378
2017 $7,809 $18,435 $23,929 $53,120
2016 $7,453 $16,649 $22,268 $49,937
2015 $9,069 $19,479 $23,256 $53,931
2014 $15,549 $27,177 $27,805 $62,578
2013 $16,304 $27,910 $27,865 $62,203
2012 $17,309 $30,012 $28,733 $65,034
2011 $17,198 $27,242 $27,127 $64,125
2010 $13,720 $26,168 $22,028 $58,829
2009 $13,233 $29,722 $17,718 $54,787
2008 $18,211 $30,523 $22,320 $57,236
2007 $12,617 $26,611 $18,596 $55,030
2006 $10,185 $23,511 $17,564 $54,639
2005 $8,674 $22,137 $15,976 $53,548
2004 $4,901 $19,354 $13,154 $51,225
2003 $2,931 $14,496 $11,487 $48,078
2002 $2,264 $13,255 $10,586 $45,466
2001 $1,949 $11,627 $10,805 $47,381
2000 $1,487 $7,420 $11,715 $48,644
1999 $931 $6,470 $10,452 $47,495
1998 $578 $5,280 $9,836 $48,867
1997 $717 $4,387 $11,545 $48,796
1996 $392 $1,793 $11,472 $48,569
1995 $248.3 $1,098 $10,786 $48,052
1994 $183.2 $951 $10,602 $48,904
1993 $256.7 $828 $10,885 $49,503
1992 $263.7 $756 $11,730 $50,355
1991 $225.3 $569 $11,847 $49,295
1990 $236.4 $577 $11,055 $46,214
1989 $193.2 - $9,414 -
1988 $228.7 - $9,165 -
1987 $220.9 - $9,386 -
1986 $188.8 - $10,078 -
1985 $161.1 - $12,745 -
1984 $137.9 - $15,541 -
1983 $129.4 - $17,810 -
1982 $137.5 - $22,454 -
1981 $121.1 - $28,703 -
1980 $175.5 - $27,206 -
1979 - - $19,612 -
1978 - - $14,914 -
1977 $376 - $14,595 -
1976 $369 - $13,313 -
1975 $362 - $10,266 -
1974 $319 - $10,503 -
1973 $268.6 - $3,640 -
1972 $211.4 - $2,474 -
1971 $205.6 - $1,929 -
1970 $206.8 - $1,509 -
1969 $208.4 - $1,313 -
1968 $211.7 - $1,276 -
1967 $231.9 - $1,032 -
1966 $226.7 - $961 -
1965 $217.1 - $904 -
1964 $177.8 - $840 -
1963 $154.8 - $812 -
1962 $132.9 - $813 -
1961 - - $760 -
1960 - - $718 -

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

GeoRank.org/economy/equatorial-guinea/saudi-arabia | CC BY

Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $35,122 in Saudi Arabia, ranking 33/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Saudi Arabia ranks 24th at $71,375.

Economic indicators

Equatorial Guinea Saudi Arabia
Gross domestic product
$12.8B
2024
$1.24T
2024
GDP rank
148/197
2024
18/197
2024
GDP growth
0.91%
2023-2024
2%
2023-2024
GDP per capita
$6,745
2024
$35,122
2024
GDP per capita rank
106/197
2024
33/197
2024
GDP per capita, PPP
$17,567
2024
$71,375
2024
GDP per capita PPP rank
106/197
2024
24/197
2024
Government debt
$4.65B
2024
$324B
2024
Debt-to-GDP ratio
36.4%
2024
26.2%
2024
Government debt per person
$2,458
2024
$9,185
2024
Government debt per person rank
110/185
2024
58/185
2024
Average annual personal income after taxes
$5,042
2026
$23,076
2026
Market capitalization of domestic companies n/a
$2.73T
2024
Number of millionaires n/a
351,855
2025
Number of billionaires n/a
15
2025
Income share by richest 10%
29.1%
2022
n/a
Income share by poorest 10%
2.6%
2022
n/a
Government expenditure, % of GDP
18.5%
2024
29.6%
2024
Consumer prices inflation
3.4%
2023-2024
1.69%
2023-2024
Central bank interest rate n/a
4.25%
2025
Unemployment rate
8.6%
2014
3.52%
2024
Population
1998075
36734925

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Saudi Arabia
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Saudi Arabia
Government spending Government debt Government spending Government debt
2024 18.5% 36.4% 29.6% 26.2%
2023 19.2% 39.1% 28.3% 23%
2022 14.8% 29.8% 25.3% 21.3%
2021 12.7% 42.3% 28.2% 25.5%
2020 16.2% 49.4% 37.4% 29.7%
2019 16.8% 43.2% 31.8% 20.3%
2018 19.1% 40.6% 32.4% 16.8%
2017 20.1% 36.2% 30.9% 15.9%
2016 27.8% 41.1% 33.3% 12.2%
2015 41.6% 31.7% 38.5% 5.47%
2014 31.6% 12.6% 38.6% 1.5%
2013 29.3% 6.27% 34.5% 2.08%
2012 35.2% 7.1% 32.5% 2.97%
2011 27.5% 7.17% 32.4% 5.31%
2010 31.2% 7.89% 33% 8.43%
2009 39.8% 4.34% 37.1% 14%
2008 19.9% 0.49% 26.7% 12.1%
2007 19.7% 0.75% 29.5% 17.1%
2006 18.1% 1.22% 27.3% 25.8%
2005 14.1% 2.85% 28.2% 37.3%
2004 15.5% 4.54% 31.1% 62.9%
2003 11.8% 6.77% 33.1% 81.6%
2002 11.3% 19.4% 35.9% 96.4%
2001 13.5% 25.5% 36.9% 93.1%
2000 22.6% 36.6% 33.1% 86.7%
1999 18.7% 60.5% 30.3% 103%
1998 35.1% 59.2% 34.5% 101.5%
1997 14.8% 46.3% 35.6% 76.7%
1996 22.9% 91.2% 33.3% 75.2%
1995 141.5% 136.9% 32.4% 74.2%
1994 510% 216% 33.8% 67.9%
1993 256.3% 152.6% 37.7% 58.6%
1992 595% 136.9% 41.2% 47.8%
1991 284.5% 169.5% 34.9% 39.4%
1990 212.9% 157% 39.3% -
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/saudi-arabia | CC BY

In 2024, Equatorial Guinea's government spending was $2.36B, accounting for 18.5% of its GDP, while Saudi Arabia spent $367B, or 29.6% of GDP.

Debt-to-GDP ratio is 36.4% in Equatorial Guinea and 26.2% in Saudi Arabia, ranking 143/185 and 163/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Saudi Arabia
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Saudi Arabia
2024 -0.55% -2.49%
2023 2.39% -1.77%
2022 11.7% 2.24%
2021 2.65% -1.99%
2020 -1.77% -10.2%
2019 1.82% -3.96%
2018 0.52% -5.21%
2017 -2.59% -8.57%
2016 -10.9% -13.2%
2015 -15.1% -14.9%
2014 -7.54% -3.4%
2013 -4.4% 5.47%
2012 -7.24% 11.7%
2011 0.83% 11.4%
2010 -4.53% 4.39%
2009 -6.47% -5.38%
2008 14.6% 29.8%
2007 17.2% 11.8%
2006 21.8% 20.8%
2005 18.5% 18%
2004 9.22% 9.72%
2003 9.99% 1.2%
2002 17.6% -5.91%
2001 14.9% -3.91%
2000 -2.67% 3.18%
1999 -0.19% -5.99%
1998 -7.65% -8.88%
1997 3.21% -2.51%
1996 -6.36% -3.25%
1995 -123.4% -5.12%
1994 -487% -8.31%
1993 -217.9% -9.33%
1992 -557% -8.12%
1991 -236% -3.28%
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/saudi-arabia | 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 Saudi Arabia's deficit of $30.9B, or 2.49% of GDP.

Over the past 34 years, Equatorial Guinea recorded a fiscal deficit in 19 of those years, while Saudi Arabia ran a deficit in 22 years. On average, Equatorial Guinea posted an annual deficit equal to 45.7% of GDP, compared to deficit of 0.18% of GDP for Saudi Arabia.

Inflation comparison by year

Inflation
Equatorial Guinea

Saudi Arabia
1x
Year Consumer prices inflation
Equatorial Guinea Saudi Arabia
2024 3.4% 1.69%
2023 2.4% 2.33%
2022 4.9% 2.47%
2021 -0.1% 3.06%
2020 4.8% 3.37%
2019 1.2% -1.19%
2018 1.3% 2.47%
2017 0.7% -0.83%
2016 1.4% 2.05%
2015 1.7% 1.22%
2014 4.3% 2.24%
2013 3.2% 3.51%
2012 3.4% 2.87%
2011 4.8% 5.83%
2010 5.3% 5.34%
2009 5.7% 5.06%
2008 4.7% 9.87%
2007 2.8% 4.17%
2006 4.5% 2.21%
2005 5.6% 0.48%
2004 4.2% 0.52%
2003 7.3% 0.61%
2002 7.6% 0.25%
2001 8.7% -1.12%
2000 4.8% -1.12%
1999 0.4% -1.33%
1998 7.9% -0.37%
1997 3% 0.06%

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/saudi-arabia | CC BY

Over the past 28 years, Equatorial Guinea has recorded an average annual inflation rate of 3.93%, compared with 1.99% in Saudi Arabia. In 2024, inflation was 3.4% in Equatorial Guinea and 1.69% in Saudi Arabia.

Top exports between countries

Equatorial Guinea
Export category Export value
Wood & paper products $148K
Animal & marine products $13K
Machinery & equipment $4K
Saudi Arabia
Export category Export value
Processed food, beverages & tobacco $156K
Animal & marine products $149K
Raw materials & minerals $111K
Raw agricultural goods $35K
Machinery & equipment $19K
Chemicals & pharma $18K
Miscellaneous $1K

Balance of trade

Equatorial Guinea Saudi Arabia
Current account balance
-$344M
1996
-$16.3B
2024
Current account balance ranking
101/190
1996
180/190
2024
Current account balance, % of GDP
-148%
1996
-1.31%
2024
Goods imports
$292M
1996
$214B
2024
Goods exports
$175M
1996
$306B
2024
Service imports
$185M
1996
$125B
2024
Service exports
$4.88M
1996
$62.8B
2024
Imports of goods and services, % of GDP
25.4%
2024
25.6%
2024
Exports of goods and services, % of GDP
35.2%
2024
29.1%
2024

Economic freedom indices

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

Equatorial Guinea Saudi Arabia
Economic freedom 47.4 65.4
Economic freedom ranking 175/197 65/197
Property rights 16.9 51.4
Government integrity 6.9 52.7
Judicial effectiveness 7.2 38.2
Tax burden 81 99.2
Government spending 90.8 77
Fiscal health 97.3 97.9
Business freedom 35.9 71.2
Labor freedom 45.2 41.8
Monetary freedom 73.5 81.2
Trade freedom 43.6 73.8
Investment freedom 40 50
Financial freedom 30 50

Economic freedom comparison by year

Equatorial Guinea
Saudi Arabia
1x
Year Economic freedom index
Equatorial Guinea Saudi Arabia
2026 47.4 65.4
2025 47.7 64.4
2024 47.7 61.9
2023 48.3 58.3
2022 47.2 55.5
2021 49.2 66
2020 48.3 62.4
2019 41 60.7
2018 42 59.6
2017 45 64.4
2016 43.7 62.1
2015 40.4 62.1
2014 44.4 62.2
2013 42.3 60.6
2012 42.8 62.5
2011 47.5 66.2
2010 48.6 64.1
2009 51.3 64.3
2008 51.6 62.5
2007 53.2 60.9
2006 51.5 63
2005 53.3 63
2004 53.3 60.4
2003 53.1 63.2
2002 46.4 65.3
2001 47.9 62.2
2000 45.6 66.5
1999 45.1 65.5
1998 - 69.3
1997 - 68.7
1996 - 68.3

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/equatorial-guinea/saudi-arabia | CC BY

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, compared to 65.4 for Saudi Arabia, ranking 65/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Equatorial Guinea Saudi Arabia
Services, % of GDP
51.1%
2024
47.1%
2024
Industry, % of GDP
45.8%
2024
44.9%
2024
Agriculture, forestry, and fishing, % of GDP
3.15%
2024
2.54%
2024
GNI, Atlas method
$8.96B
2024
$1.26T
2024
GNI per capita, PPP
$12,330
2024
$71,730
2024
Total reserves including gold
$1.54B
2023
$464B
2024
Total reserves ranking
134/177
2023
7/177
2024
Net foreign direct investment
-$376M
1996
$6.27B
2024
Net inflows of foreign direct investment
$188M
2024
$21.3B
2024
Net outflows of foreign direct investment
$154M
2024
$27.6B
2024
Poverty at national poverty lines
50.7%
2022
n/a
Gross capital formation, % of GDP
8.96%
2024
30.2%
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/saudi-arabia | 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 (1996–2026, 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 (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2014, retrieved 2026-02-20)

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.

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.