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Economy of Equatorial Guinea vs Togo compared: GDP & Debt

Updated on by Georank team

Equatorial Guinea has a GDP of $12.8B compared to $10.7B for Togo, ranking 148/197 and 154/197 by economy size, respectively.

Equatorial Guinea has $4.65B in government debt (36.4% of GDP), compared to $7.68B (72.1% of GDP) in Togo.

Equatorial Guinea vs Togo GDP by year

Equatorial Guinea
Togo
1x
Year GDP, current $
Equatorial Guinea Togo
2024 $12,765,777,677 $10,651,180,147
2023 $12,337,550,584 $9,816,236,303
2022 $13,687,643,436 $8,646,453,099
2021 $12,215,878,033 $8,541,668,141
2020 $9,893,816,008 $7,486,031,562
2019 $11,364,133,550 $6,992,654,019
2018 $13,097,012,134 $7,029,215,766
2017 $12,200,913,879 $6,387,424,240
2016 $11,240,808,848 $6,071,167,584
2015 $13,185,496,881 $5,755,457,836
2014 $21,765,453,082 $6,393,314,708
2013 $21,948,834,284 $6,021,729,630
2012 $22,388,344,144 $5,413,541,649
2011 $21,357,343,669 $5,422,439,152
2010 $16,314,443,436 $4,746,386,893
2009 $15,027,795,173 $4,721,888,275
2008 $19,749,893,536 $4,578,847,113
2007 $13,071,718,759 $3,759,962,853
2006 $10,086,528,699 $3,320,907,722
2005 $8,217,369,093 $3,221,910,408
2004 $4,410,764,339 $3,191,561,509
2003 $2,484,745,935 $2,987,984,051
2002 $1,806,742,742 $2,410,199,032
2001 $1,461,139,022 $2,093,498,674
2000 $1,045,998,496 $2,106,848,752
1999 $621,117,886 $2,226,577,204
1998 $370,687,634 $2,241,650,112
1997 $442,337,871 $2,116,818,623
1996 $232,463,023 $2,069,506,014
1995 $141,853,361 $1,849,110,468
1994 $100,807,003 $1,387,662,121
1993 $136,047,906 $1,741,944,426
1992 $134,707,184 $2,390,796,916
1991 $110,906,029 $2,262,767,860
1990 $112,119,411 $2,299,665,506
1989 $88,265,975 $1,910,635,575
1988 $100,534,657 $1,947,208,354
1987 $93,345,860 $1,763,978,066
1986 $76,407,396 $1,498,219,579
1985 $62,118,570 $1,076,604,520
1984 $50,320,914 $1,014,170,069
1983 $44,442,457 $1,081,387,265
1982 $44,294,648 $1,160,337,039
1981 $36,731,423 $1,359,026,709
1980 $50,642,881 $1,604,836,916
1979 - $1,259,365,712
1978 - $1,164,025,637
1977 $103,987,520 $1,097,893,826
1976 $103,653,050 $874,681,612
1975 $104,295,643 $871,781,687
1974 $94,159,863 $791,450,308
1973 $81,203,227 $574,030,984
1972 $65,429,198 $474,043,922
1971 $64,946,955 $404,648,368
1970 $66,331,429 $358,665,754
1969 $67,225,714 $378,091,810
1968 $67,514,286 $341,691,567
1967 $72,317,447 $327,215,844
1966 $69,110,000 $305,227,595
1965 $64,748,333 $264,505,506
1964 $51,915,000 $234,572,186
1963 $44,266,667 $202,305,865
1962 $37,253,333 $186,745,758
1961 - $178,497,098
1960 - $171,057,069

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

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

GDP per capita in Equatorial Guinea vs Togo by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Togo
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Togo
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,745 $17,567 $1,119 $3,365
2023 $6,678 $17,412 $1,055 $3,154
2022 $7,589 $18,140 $951 $2,935
2021 $6,946 $16,821 $962 $2,639
2020 $5,764 $13,677 $863 $2,384
2019 $6,804 $16,451 $826 $2,215
2018 $8,102 $18,413 $851 $2,067
2017 $7,809 $18,435 $793 $1,986
2016 $7,453 $16,649 $773 $1,933
2015 $9,069 $19,479 $751 $1,880
2014 $15,549 $27,177 $856 $1,803
2013 $16,304 $27,910 $827 $1,715
2012 $17,309 $30,012 $762 $1,645
2011 $17,198 $27,242 $784 $1,616
2010 $13,720 $26,168 $705 $1,537
2009 $13,233 $29,722 $721 $1,474
2008 $18,211 $30,523 $719 $1,429
2007 $12,617 $26,611 $608 $1,387
2006 $10,185 $23,511 $553 $1,407
2005 $8,674 $22,137 $551 $1,368
2004 $4,901 $19,354 $560 $1,427
2003 $2,931 $14,496 $538 $1,440
2002 $2,264 $13,255 $445 $1,357
2001 $1,949 $11,627 $397 $1,320
2000 $1,487 $7,420 $410 $1,315
1999 $931 $6,470 $445 $1,332
1998 $578 $5,280 $461 $1,318
1997 $717 $4,387 $448 $1,373
1996 $392 $1,793 $452 $1,218
1995 $248.3 $1,098 $419 $1,140
1994 $183.2 $951 $329 $1,082
1993 $256.7 $828 $414 $925
1992 $263.7 $756 $565 $1,057
1991 $225.3 $569 $550 $1,107
1990 $236.4 $577 $575 $1,110
1989 $193.2 - $492 -
1988 $228.7 - $517 -
1987 $220.9 - $482 -
1986 $188.8 - $422 -
1985 $161.1 - $313 -
1984 $137.9 - $304 -
1983 $129.4 - $336 -
1982 $137.5 - $372 -
1981 $121.1 - $451 -
1980 $175.5 - $549 -
1979 - - $443 -
1978 - - $421 -
1977 $376 - $406 -
1976 $369 - $332 -
1975 $362 - $339 -
1974 $319 - $315 -
1973 $268.6 - $234.4 -
1972 $211.4 - $198.8 -
1971 $205.6 - $174.6 -
1970 $206.8 - $159.8 -
1969 $208.4 - $174.7 -
1968 $211.7 - $164.3 -
1967 $231.9 - $163.9 -
1966 $226.7 - $159.1 -
1965 $217.1 - $142.7 -
1964 $177.8 - $130.1 -
1963 $154.8 - $114.6 -
1962 $132.9 - $107.8 -
1961 - - $104.8 -
1960 - - $102.2 -

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

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

Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $1,119 in Togo, ranking 172/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Togo ranks 173rd at $3,365.

Economic indicators

Equatorial Guinea Togo
Gross domestic product
$12.8B
2024
$10.7B
2024
GDP rank
148/197
2024
154/197
2024
GDP growth
0.91%
2023-2024
6.53%
2023-2024
GDP per capita
$6,745
2024
$1,119
2024
GDP per capita rank
106/197
2024
172/197
2024
GDP per capita, PPP
$17,567
2024
$3,365
2024
GDP per capita PPP rank
106/197
2024
173/197
2024
Government debt
$4.65B
2024
$7.68B
2024
Debt-to-GDP ratio
36.4%
2024
72.1%
2024
Government debt per person
$2,458
2024
$807
2024
Government debt per person rank
110/185
2024
149/185
2024
Average annual personal income after taxes
$5,042
2026
$1,661
2026
Income share by richest 10%
29.1%
2022
29.6%
2021
Income share by poorest 10%
2.6%
2022
2.8%
2021
Government expenditure, % of GDP
18.5%
2024
26.4%
2024
Consumer prices inflation
3.4%
2023-2024
2.86%
2023-2024
Unemployment rate
8.6%
2014
1.97%
2022
Population
1998075
9990340

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Togo
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Togo
Government spending Government debt Government spending Government debt
2024 18.5% 36.4% 26.4% 72.1%
2023 19.2% 39.1% 26.6% 68.6%
2022 14.8% 29.8% 26% 67%
2021 12.7% 42.3% 21.8% 64.9%
2020 16.2% 49.4% 23.7% 62.2%
2019 16.8% 43.2% 16.6% 54.9%
2018 19.1% 40.6% 18.8% 58%
2017 20.1% 36.2% 16.3% 57.1%
2016 27.8% 41.1% 22.9% 59.9%
2015 41.6% 31.7% 22.9% 52.4%
2014 31.6% 12.6% 21.9% 44.9%
2013 29.3% 6.27% 20.5% 41.1%
2012 35.2% 7.1% 19.1% 34.3%
2011 27.5% 7.17% 18.2% 37%
2010 31.2% 7.89% 15.1% 33.5%
2009 39.8% 4.34% 14.3% 57.6%
2008 19.9% 0.49% 12.4% 67.3%
2007 19.7% 0.75% 13.7% 70.5%
2006 18.1% 1.22% 14.7% 67.7%
2005 14.1% 2.85% 13.3% 63.1%
2004 15.5% 4.54% 10.6% 48.7%
2003 11.8% 6.77% 8.88% 50%
2002 11.3% 19.4% 8.42% 54.8%
2001 13.5% 25.5% 10.9% 68.5%
2000 22.6% 36.6% 11.9% 66.5%
1999 18.7% 60.5% 11.9% 59.9%
1998 35.1% 59.2% 12.8% 62.8%
1997 14.8% 46.3% 10.6% 54.4%
1996 22.9% 91.2% 12.4% 60.4%
1995 141.5% 136.9% 12.7% 64.8%
1994 510% 216% 13.2% 79%
1993 256.3% 152.6% 14.8% 58.3%
1992 595% 136.9% 12.6% 45%
1991 284.5% 169.5% 14.6% 46.9%
1990 212.9% 157% 16.8% 44.7%
1989 116.8% 187% 16.9% 46.3%
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 (1985–2004, retrieved 2026-02-20).

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

In 2024, Equatorial Guinea's government spending was $2.36B, accounting for 18.5% of its GDP, while Togo spent $2.81B, or 26.4% of GDP.

Debt-to-GDP ratio is 36.4% in Equatorial Guinea and 72.1% in Togo, ranking 143/185 and 54/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Togo
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Togo
2024 -0.55% -7.43%
2023 2.39% -6.73%
2022 11.7% -8.33%
2021 2.65% -4.65%
2020 -1.77% -7.05%
2019 1.82% 1.67%
2018 0.52% -0.59%
2017 -2.59% -0.21%
2016 -10.9% -7.02%
2015 -15.1% -7.04%
2014 -7.54% -7.11%
2013 -4.4% -5.08%
2012 -7.24% -4.63%
2011 0.83% -4.48%
2010 -4.53% -1.66%
2009 -6.47% -2.63%
2008 14.6% -0.59%
2007 17.2% -1.83%
2006 21.8% -1.94%
2005 18.5% -1.67%
2004 9.22% 0.61%
2003 9.99% 1.43%
2002 17.6% -0.28%
2001 14.9% -0.72%
2000 -2.67% -3.45%
1999 -0.19% -1.76%
1998 -7.65% -3.25%
1997 3.21% -0.98%
1996 -6.36% -3.26%
1995 -123.4% -2.97%
1994 -487% -5.37%
1993 -217.9% -8.46%
1992 -557% -2.27%
1991 -236% -3.52%
1990 -160.2% -1.65%
1989 -76.2% -2.18%
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/togo | 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 Togo's deficit of $791M, or 7.43% of GDP.

Over the past 36 years, Equatorial Guinea recorded a fiscal deficit in 21 of those years, while Togo ran a deficit in 33 years. On average, Equatorial Guinea posted an annual deficit equal to 49.7% of GDP, compared to deficit of 3.25% of GDP for Togo.

Inflation comparison by year

Inflation
Equatorial Guinea

Togo
1x
Year Consumer prices inflation
Equatorial Guinea Togo
2024 3.4% 2.86%
2023 2.4% 5.49%
2022 4.9% 7.97%
2021 -0.1% 4.19%
2020 4.8% 1.7%
2019 1.2% 0.67%
2018 1.3% 0.93%
2017 0.7% -0.98%
2016 1.4% 1.29%
2015 1.7% 2.59%
2014 4.3% 0.19%
2013 3.2% 1.83%
2012 3.4% 2.58%
2011 4.8% 3.56%
2010 5.3% 1.45%
2009 5.7% 3.71%
2008 4.7% 8.69%
2007 2.8% 0.95%
2006 4.5% 2.23%
2005 5.6% 6.78%
2004 4.2% 0.39%
2003 7.3% -0.93%
2002 7.6% 3.06%
2001 8.7% 3.92%
2000 4.8% 1.86%
1999 0.4% -0.05%
1998 7.9% 0.98%
1997 3% 8.25%

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/togo | CC BY

Over the past 28 years, Equatorial Guinea has recorded an average annual inflation rate of 3.93%, compared with 2.72% in Togo. In 2024, inflation was 3.4% in Equatorial Guinea and 2.86% in Togo.

Top exports between countries

Equatorial Guinea
Export category Export value
Animal & marine products $29K
Machinery & equipment $9K
Textiles & consumer goods $5K
Togo
Export category Export value
Textiles & consumer goods $531K
Raw agricultural goods $312K
Machinery & equipment $293K
Processed food, beverages & tobacco $89K
Chemicals & pharma $65K
Animal & marine products $46K
Metals $43K
Raw materials & minerals $17K
Wood & paper products $8K
Weapons & explosives $4K

Balance of trade

Equatorial Guinea Togo
Current account balance
-$344M
1996
-$20.7M
2020
Current account balance ranking
101/190
1996
79/190
2020
Current account balance, % of GDP
-148%
1996
-0.28%
2020
Goods imports
$292M
1996
$1.95B
2020
Goods exports
$175M
1996
$1.21B
2020
Service imports
$185M
1996
$438M
2020
Service exports
$4.88M
1996
$514M
2020
Imports of goods and services, % of GDP
25.4%
2024
38.1%
2024
Exports of goods and services, % of GDP
35.2%
2024
24.4%
2024

Economic freedom indices

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

Equatorial Guinea Togo
Economic freedom 47.4 51.6
Economic freedom ranking 175/197 153/197
Property rights 16.9 43.6
Government integrity 6.9 33.3
Judicial effectiveness 7.2 34
Tax burden 81 68.9
Government spending 90.8 79.2
Fiscal health 97.3 9.6
Business freedom 35.9 60.1
Labor freedom 45.2 51.9
Monetary freedom 73.5 72.5
Trade freedom 43.6 65.8
Investment freedom 40 60
Financial freedom 30 40

Economic freedom comparison by year

Equatorial Guinea
Togo
1x
Year Economic freedom index
Equatorial Guinea Togo
2026 47.4 51.6
2025 47.7 52.3
2024 47.7 50.9
2023 48.3 55.3
2022 47.2 57.2
2021 49.2 57.5
2020 48.3 54.1
2019 41 50.3
2018 42 47.8
2017 45 53.2
2016 43.7 53.6
2015 40.4 53
2014 44.4 49.9
2013 42.3 48.8
2012 42.8 48.3
2011 47.5 49.1
2010 48.6 47.1
2009 51.3 48.7
2008 51.6 48.9
2007 53.2 49.7
2006 51.5 47.3
2005 53.3 48.2
2004 53.3 47
2003 53.1 46.8
2002 46.4 45.2
2001 47.9 45.3
2000 45.6 46.4
1999 45.1 48.2

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

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

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, compared to 51.6 for Togo, ranking 153/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Equatorial Guinea Togo
Services, % of GDP
51.1%
2024
49.2%
2024
Industry, % of GDP
45.8%
2024
20.4%
2024
Agriculture, forestry, and fishing, % of GDP
3.15%
2024
21.3%
2024
GNI, Atlas method
$8.96B
2024
$10.3B
2024
GNI per capita, PPP
$12,330
2024
$3,380
2024
Total reserves including gold
$1.54B
2023
n/a
Total reserves ranking
134/177
2023
n/a
Net foreign direct investment
-$376M
1996
-$53.1M
2020
Net inflows of foreign direct investment
$188M
2024
$83.8M
2024
Net outflows of foreign direct investment
$154M
2024
-$73.4M
2024
Servicing debt to the IMF, % of GNI n/a
3.21%
2024
Poverty at national poverty lines
50.7%
2022
43.8%
2021
Gross capital formation, % of GDP
8.96%
2024
20.8%
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/togo | CC BY

Compare countries by 7 more topics

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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 (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 (1985–2004, retrieved 2026-02-20)
  6. TradeMap (2021–2024, 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.

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.