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Economy of Equatorial Guinea vs Turkmenistan compared: GDP & Debt

Updated on by Georank team

Equatorial Guinea has a GDP of $12.8B compared to $64.2B for Turkmenistan, ranking 148/197 and 88/197 by economy size, respectively.

Equatorial Guinea has $4.62B in government debt (35.1% of GDP), compared to $2.97B (4.5% of GDP) in Turkmenistan.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Equatorial Guinea
GDP, current $

GDP, constant 2015 $
Turkmenistan
GDP, current $

GDP, constant 2015 $
Year GDP
Equatorial Guinea Turkmenistan
Current $ Constant $ Current $ Constant $
1962 $37,253,333 - - -
1963 $44,266,667 - - -
1964 $51,915,000 - - -
1965 $64,748,333 - - -
1966 $69,110,000 - - -
1967 $72,317,447 - - -
1968 $67,514,286 - - -
1969 $67,225,714 - - -
1970 $66,331,429 - - -
1971 $64,946,955 - - -
1972 $65,429,198 - - -
1973 $81,203,227 - - -
1974 $94,159,863 - - -
1975 $104,295,643 - - -
1976 $103,653,050 - - -
1977 $103,987,520 - - -
1978 - - - -
1979 - - - -
1980 $50,642,881 $132,086,051 - -
1981 $36,731,423 $139,706,651 - -
1982 $44,294,648 $142,782,539 - -
1983 $44,442,457 $149,927,930 - -
1984 $50,320,914 $151,444,273 - -
1985 $62,118,570 $170,988,428 - -
1986 $76,407,396 $167,003,446 - -
1987 $93,345,860 $174,412,950 $2,331,358,820 $9,134,688,479
1988 $100,534,657 $179,044,071 $3,010,982,414 $10,141,662,024
1989 $88,265,975 $176,843,301 $3,006,988,217 $9,710,101,902
1990 $112,119,411 $173,733,398 $3,189,539,641 $13,145,978,552
1991 $110,906,029 $171,957,428 $3,208,098,919 $12,540,571,637
1992 $134,707,184 $231,704,586 $3,200,539,816 $10,663,751,367
1993 $136,047,906 $257,269,047 $3,179,225,949 $10,823,707,656
1994 $100,807,003 $300,152,801 $2,561,118,608 $8,951,221,334
1995 $141,853,361 $352,638,312 $2,482,228,440 $8,306,729,733
1996 $232,463,023 $587,424,890 $2,378,759,975 $8,863,279,974
1997 $442,337,871 $1,468,403,405 $2,450,350,625 $7,852,866,037
1998 $370,687,634 $1,817,508,713 $2,605,689,134 $8,410,419,553
1999 $621,117,886 $2,283,954,429 $2,450,564,100 $9,798,138,737
2000 $1,045,998,496 $2,699,948,864 $2,904,663,311 $10,334,005,228
2001 $1,461,139,022 $4,411,173,090 $3,534,772,732 $10,782,898,471
2002 $1,806,742,742 $5,269,712,387 $4,462,029,109 $10,810,629,921
2003 $2,484,745,935 $6,005,113,942 $5,977,440,583 $11,164,010,880
2004 $4,410,764,339 $8,286,980,786 $6,838,351,088 $11,722,256,910
2005 $8,217,369,093 $9,674,942,387 $8,103,901,996 $13,250,139,963
2006 $10,086,528,699 $10,420,388,727 $10,276,674,365 $14,704,118,675
2007 $13,071,718,759 $12,012,844,403 $12,664,165,103 $16,330,291,194
2008 $19,749,893,536 $14,151,023,688 $19,271,523,179 $18,730,843,999
2009 $15,027,795,173 $14,341,122,354 $20,214,385,965 $19,873,425,505
2010 $16,314,443,436 $13,061,295,371 $22,583,157,895 $21,701,780,649
2011 $21,357,343,669 $13,913,404,306 $29,233,333,333 $24,891,942,389
2012 $22,388,344,144 $15,070,007,775 $35,164,210,526 $27,654,947,984
2013 $21,948,834,284 $14,447,134,440 $39,197,543,860 $30,475,752,707
2014 $21,765,453,082 $14,507,099,626 $43,524,210,526 $33,614,755,226
2015 $13,185,496,881 $13,185,496,881 $35,799,714,286 $35,799,714,286
2016 $11,240,808,848 $12,023,008,462 $36,169,428,571 $38,019,296,559
2017 $12,200,913,879 $11,341,603,435 $37,926,285,714 $40,490,550,854
2018 $13,097,012,134 $10,634,279,339 $40,765,428,571 $43,000,964,983
2019 $11,364,133,550 $10,051,326,715 $45,232,857,143 $45,710,025,795
2020 $9,893,816,008 $9,569,759,527 $45,818,000,000 $48,406,917,339
2021 $12,215,878,033 $9,652,085,293 $50,007,428,571 $51,408,146,222
2022 $13,687,643,436 $9,963,221,065 $58,972,000,000 $54,595,451,255
2023 $12,337,550,584 $9,456,161,987 $60,628,857,143 $58,035,050,719
2024 $12,765,777,677 $9,541,952,851 $64,239,891,739 $59,349,032,300

Economic indicators

Equatorial Guinea Turkmenistan
Gross domestic product
$12.8B
2024
$64.2B
2024
GDP rank
148/197
2024
88/197
2024
GDP growth
3.47%
2023-2024
5.96%
2023-2024
GDP per capita
$6,745
2024
$8,572
2024
GDP per capita rank
106/197
2024
91/197
2024
GDP per capita, PPP
$17,567
2024
$20,408
2024
Government debt
$4.62B
2024
$2.97B
2024
Debt-to-GDP ratio
35.1%
2025
4.5%
2025
Government debt per person
$2,442
2024
$396
2024
Government debt per person rank
112/185
2024
172/185
2024
Average annual personal income after taxes
$4,393
2025
$8,974
2025
Income share by richest 10%
29.1%
2022
31.5%
1998
Income share by poorest 10%
2.6%
2022
2.4%
1998
Government expenditure, % of GDP
18.7%
2025
11.1%
2025
Consumer prices inflation
2.9%
2024-2025
3.9%
2024-2025
Unemployment rate
8.6%
2014
4%
2010
Population
1975406
7713465

GDP per capita in Equatorial Guinea vs Turkmenistan

Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $8,572 in Turkmenistan, ranking 91/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 103rd at $17,567, while Turkmenistan ranks 94th at $20,408.

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Turkmenistan
GDP per capita

GDP per capita, PPP
Year Current $
Equatorial Guinea Turkmenistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1962 $132.9 - - -
1963 $154.8 - - -
1964 $177.8 - - -
1965 $217.1 - - -
1966 $226.7 - - -
1967 $231.9 - - -
1968 $211.7 - - -
1969 $208.4 - - -
1970 $206.8 - - -
1971 $205.6 - - -
1972 $211.4 - - -
1973 $268.6 - - -
1974 $319 - - -
1975 $362 - - -
1976 $369 - - -
1977 $376 - - -
1978 $376 - - -
1979 $372 - - -
1980 $175.5 - - -
1981 $121.1 - - -
1982 $137.5 - - -
1983 $129.4 - - -
1984 $137.9 - - -
1985 $161.1 - - -
1986 $188.8 - - -
1987 $220.9 - $675 -
1988 $228.7 - $846 -
1989 $193.2 - $821 -
1990 $236.4 $577 $848 $5,321
1991 $225.3 $569 $832 $5,117
1992 $263.7 $756 $811 $4,351
1993 $256.7 $828 $788 $4,422
1994 $183.2 $951 $622 $3,659
1995 $248.3 $1,098 $592 $3,405
1996 $392 $1,793 $558 $3,636
1997 $717 $4,387 $565 $3,222
1998 $578 $5,280 $591 $3,432
1999 $931 $6,470 $546 $3,981
2000 $1,487 $7,420 $634 $4,209
2001 $1,949 $11,627 $756 $4,401
2002 $2,264 $13,255 $936 $4,393
2003 $2,931 $14,496 $1,229 $4,536
2004 $4,901 $19,354 $1,379 $4,798
2005 $8,674 $22,137 $1,604 $5,489
2006 $10,185 $23,511 $1,997 $6,164
2007 $12,617 $26,611 $2,415 $6,901
2008 $18,211 $30,523 $3,606 $7,916
2009 $13,233 $29,722 $3,708 $8,285
2010 $13,720 $26,168 $4,059 $8,972
2011 $17,198 $27,242 $5,144 $10,283
2012 $17,309 $30,012 $6,054 $11,035
2013 $16,304 $27,910 $6,600 $11,723
2014 $15,549 $27,177 $7,164 $12,477
2015 $9,069 $19,479 $5,759 $12,715
2016 $7,453 $16,649 $5,687 $12,919
2017 $7,809 $18,435 $5,828 $13,278
2018 $8,102 $18,413 $6,125 $14,368
2019 $6,804 $16,451 $6,648 $15,478
2020 $5,764 $13,677 $6,593 $15,091
2021 $6,946 $16,821 $7,051 $16,434
2022 $7,589 $18,140 $8,156 $18,340
2023 $6,678 $17,412 $8,233 $19,829
2024 $6,745 $17,567 $8,572 $20,408

Spending and national debt comparison

In 2024, Equatorial Guinea's government spending was $2.52B, accounting for 18.7% of its GDP, while Turkmenistan's spent $7.26B, or 11.1% of GDP.

Debt-to-GDP ratio is 35.1% in Equatorial Guinea and 4.5% in Turkmenistan, ranking 148/185 and 183/185, respectively.

Equatorial Guinea
Government spending

Government debt
Turkmenistan
Government spending

Government debt
Year % of GDP
Equatorial Guinea Turkmenistan
Government spending Government debt Government spending Government debt
1985 115.4% 183.8% - -
1986 119% 152.5% - -
1987 183% 141.3% - -
1988 227.9% 154.5% - -
1989 116.8% 187% - -
1990 212.9% 157% - -
1991 284.5% 169.5% - -
1992 595% 136.9% - -
1993 256.3% 152.6% - -
1994 510% 216% - -
1995 141.5% 136.9% - -
1996 22.9% 91.2% - -
1997 14.8% 46.3% 14.6% 84.9%
1998 35.1% 59.2% 14.2% 107.9%
1999 18.7% 60.5% 11.3% 88.2%
2000 22.6% 36.6% 14.1% 72.9%
2001 13.5% 25.5% 12.3% 45.1%
2002 11.3% 19.4% 10.6% 32%
2003 13.9% 6.77% 11.3% 22.4%
2004 10.8% 4.54% 11% 15.1%
2005 14.1% 2.85% 11.5% 9.01%
2006 18.1% 1.22% 8.74% 5.59%
2007 19.7% 0.75% 7.86% 4.05%
2008 19.9% 0.49% 6.36% 4.71%
2009 39.8% 4.34% 7.84% 4.08%
2010 31.2% 7.89% 8.86% 6.21%
2011 27.5% 7.17% 9.62% 10%
2012 35.2% 7.1% 10.3% 13.8%
2013 29.3% 6.27% 13% 16%
2014 31.6% 12.6% 13.2% 12.3%
2015 41.6% 31.7% 13.8% 14.5%
2016 27.8% 41.1% 11.9% 18.5%
2017 20.1% 36.2% 14.7% 20%
2018 19.1% 40.6% 11.4% 18.7%
2019 16.8% 43.2% 11.6% 15.3%
2020 16.2% 49.4% 11.8% 13.3%
2021 12.7% 42.3% 10.9% 10.7%
2022 14.8% 29.8% 9.44% 5.77%
2023 19.2% 36.3% 10.9% 4.66%
2024 19.7% 36.2% 11.3% 4.62%
2025 18.7% 35.1% 11.1% 4.5%

Government deficit by year

In 2024, Equatorial Guinea's government deficit, the difference between spending and revenue, was -$158M, equivalent to -1.23% of GDP. This compares to Turkmenistan's surplus of $204M, or 0.32% of GDP.

Over the past 28 years, Equatorial Guinea recorded a fiscal deficit in 13 of those years, while Turkmenistan ran a deficit in 8 years. On average, Equatorial Guinea posted an annual surplus equal to +2.76% of GDP, compared to surplus of +1.07% of GDP for Turkmenistan.

Deficit/surplus
Equatorial Guinea

Turkmenistan
Year Deficit/surplus, % of GDP
Equatorial Guinea Turkmenistan
1985 -89.3% -
1986 -97.3% -
1987 -158% -
1988 -208.5% -
1989 -76.2% -
1990 -160.2% -
1991 -236% -
1992 -557% -
1993 -217.9% -
1994 -487% -
1995 -123.4% -
1996 -6.36% -
1997 3.21% -0.11%
1998 -7.65% 0.63%
1999 -0.19% 1.35%
2000 -2.67% -0.3%
2001 14.9% 0.42%
2002 17.6% 0.1%
2003 7.85% 2.17%
2004 13.9% 0.8%
2005 18.5% 0.47%
2006 21.8% 3.07%
2007 17.2% 2.28%
2008 14.6% 5.85%
2009 -6.47% 4.11%
2010 -4.53% 1.29%
2011 0.83% 2.4%
2012 -7.24% 5.27%
2013 -4.4% 1.18%
2014 -7.54% 0.69%
2015 -15.1% -0.56%
2016 -10.9% -2.01%
2017 -2.59% -2.35%
2018 0.52% -0.18%
2019 1.82% -0.34%
2020 -1.77% -0.14%
2021 2.65% 0.46%
2022 11.7% 2.45%
2023 2.39% 0.75%
2024 -1.23% 0.32%
2025 -0.78% 0.17%

Inflation comparison by year

Over the past 30 years, Equatorial Guinea has recorded an average annual inflation rate of 3.91%, compared with 43.4% in Turkmenistan. In 2025, inflation was 2.9% in Equatorial Guinea and 3.9% in Turkmenistan.

Inflation
Equatorial Guinea

Turkmenistan
Year Inflation
Equatorial Guinea Turkmenistan Equatorial Guinea Turkmenistan
1996 4.5% 992%
1997 3% 83.7%
1998 7.9% 16.8%
1999 0.4% 23.5%
2000 4.8% 8%
2001 8.7% 11.6%
2002 7.6% 8.8%
2003 7.3% 5.6%
2004 4.2% 5.9%
2005 5.6% 10.7%
2006 4.5% 8.2%
2007 2.8% 6.3%
2008 4.7% 14.5%
2009 5.7% -2.7%
2010 5.3% 4.4%
2011 4.8% 5.3%
2012 3.4% 5.3%
2013 3.2% 6.8%
2014 4.3% 6%
2015 1.7% 7.4%
2016 1.4% 3.6%
2017 0.7% 8%
2018 1.3% 13.3%
2019 1.2% 5.1%
2020 4.8% 6.1%
2021 -0.1% 19.5%
2022 4.9% 11.2%
2023 2.4% -1.6%
2024 3.4% 4.6%
2025 2.9% 3.9%

Balance of trade

Equatorial Guinea Turkmenistan
Current account balance
-$344M
1996
n/a
Current account balance ranking
99/189
1996
n/a
Current account balance, % of GDP
-148%
1996
n/a
Goods imports
$292M
1996
n/a
Goods exports
$175M
1996
n/a
Service imports
$185M
1996
n/a
Service exports
$4.88M
1996
n/a
Imports of goods and services, % of GDP
25.4%
2024
12.5%
2023
Exports of goods and services, % of GDP
35.2%
2024
21.6%
2023

Economic freedom indices

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

Equatorial Guinea Turkmenistan
Economic freedom 47.7 47.1
Economic freedom ranking 175/197 178/197
Property rights 18.7 17.7
Government integrity 7.2 7.3
Judicial effectiveness 7.1 8.2
Tax burden 74.9 94.2
Government spending 92.5 96.7
Fiscal health 97.2 100
Business freedom 36.5 37.4
Labor freedom 44.9 33.9
Monetary freedom 74.3 75.1
Trade freedom 48.8 74.2
Investment freedom 40 10
Financial freedom 30 10

Economic freedom by year comparison

The Economic Freedom Index for Equatorial Guinea is 47.7, ranking 175/197, compared to 47.1 for Turkmenistan, ranking 178/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Equatorial Guinea
Turkmenistan
Year Economic freedom index
Equatorial Guinea Turkmenistan
1998 - 35
1999 45.1 36.1
2000 45.6 37.6
2001 47.9 41.8
2002 46.4 43.2
2003 53.1 51.3
2004 53.3 50.7
2005 53.3 47.6
2006 51.5 43.8
2007 53.2 43
2008 51.6 43.4
2009 51.3 44.2
2010 48.6 42.5
2011 47.5 43.6
2012 42.8 43.8
2013 42.3 42.6
2014 44.4 42.2
2015 40.4 41.4
2016 43.7 41.9
2017 45 47.4
2018 42 47.1
2019 41 48.4
2020 48.3 46.5
2021 49.2 47.4
2022 47.2 46.2
2023 48.3 46.5
2024 47.7 46.3
2025 47.7 47.1

More economic indicators

Equatorial Guinea Turkmenistan
Services, % of GDP
51.1%
2024
49.4%
2023
Industry, % of GDP
45.8%
2024
39.3%
2023
Agriculture, forestry, and fishing, % of GDP
3.15%
2024
11.3%
2023
GNI, Atlas method
$8.96B
2024
$62.9B
2024
GNI per capita, PPP
$12,330
2024
$20,220
2024
Total reserves including gold
$1.54B
2023
$1.51B
1999
Total reserves ranking
134/177
2023
135/177
1999
Net foreign direct investment
-$376M
1996
n/a
Net inflows of foreign direct investment
$188M
2024
$1.64B
2024
Net outflows of foreign direct investment
$154M
2024
n/a
Servicing debt to the IMF, % of GNI
n/a
1.93%
2023
Poverty at national poverty lines
50.7%
2022
0.2%
2020
Gross capital formation, % of GDP
8.96%
2024
47.2%
2012

GDP per capita map

GDP per capita

Compare countries by 7 more topics

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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.