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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 $51.4B for Turkmenistan, ranking 148/197 and 92/197 by economy size, respectively.

Equatorial Guinea has $4.65B in government debt (36.4% of GDP), compared to $2.11B (4.11% of GDP) in Turkmenistan.

Equatorial Guinea vs Turkmenistan GDP by year

Equatorial Guinea
Turkmenistan
1x
Year GDP, current $
Equatorial Guinea Turkmenistan
2024 $12,765,777,677 $51,387,209,872
2023 $12,337,550,584 $45,894,538,666
2022 $13,687,643,436 $42,208,726,138
2021 $12,215,878,033 $40,589,905,812
2020 $9,893,816,008 $41,509,903,182
2019 $11,364,133,550 $40,810,067,975
2018 $13,097,012,134 $40,765,428,571
2017 $12,200,913,879 $37,926,285,714
2016 $11,240,808,848 $36,169,428,571
2015 $13,185,496,881 $35,799,714,286
2014 $21,765,453,082 $43,524,210,526
2013 $21,948,834,284 $39,197,543,860
2012 $22,388,344,144 $35,164,210,526
2011 $21,357,343,669 $29,233,333,333
2010 $16,314,443,436 $22,583,157,895
2009 $15,027,795,173 $20,214,385,965
2008 $19,749,893,536 $19,271,523,179
2007 $13,071,718,759 $12,664,165,103
2006 $10,086,528,699 $10,276,674,365
2005 $8,217,369,093 $8,103,901,996
2004 $4,410,764,339 $6,838,351,088
2003 $2,484,745,935 $5,977,440,583
2002 $1,806,742,742 $4,462,029,109
2001 $1,461,139,022 $3,534,772,732
2000 $1,045,998,496 $2,904,663,311
1999 $621,117,886 $2,450,564,100
1998 $370,687,634 $2,605,689,134
1997 $442,337,871 $2,450,350,625
1996 $232,463,023 $2,378,759,975
1995 $141,853,361 $2,482,228,440
1994 $100,807,003 $2,561,118,608
1993 $136,047,906 $3,179,225,949
1992 $134,707,184 $3,200,539,816
1991 $110,906,029 $3,208,098,919
1990 $112,119,411 $3,189,539,641
1989 $88,265,975 $3,006,988,217
1988 $100,534,657 $3,010,982,414
1987 $93,345,860 $2,331,358,820
1986 $76,407,396 -
1985 $62,118,570 -
1984 $50,320,914 -
1983 $44,442,457 -
1982 $44,294,648 -
1981 $36,731,423 -
1980 $50,642,881 -
1979 - -
1978 - -
1977 $103,987,520 -
1976 $103,653,050 -
1975 $104,295,643 -
1974 $94,159,863 -
1973 $81,203,227 -
1972 $65,429,198 -
1971 $64,946,955 -
1970 $66,331,429 -
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/turkmenistan | CC BY

GDP per capita in Equatorial Guinea vs Turkmenistan by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Turkmenistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Turkmenistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,745 $17,567 $6,857 $21,213
2023 $6,678 $17,412 $6,232 $19,829
2022 $7,589 $18,140 $5,838 $18,340
2021 $6,946 $16,821 $5,723 $16,434
2020 $5,764 $13,677 $5,973 $15,091
2019 $6,804 $16,451 $5,998 $15,478
2018 $8,102 $18,413 $6,125 $14,368
2017 $7,809 $18,435 $5,828 $13,278
2016 $7,453 $16,649 $5,687 $12,919
2015 $9,069 $19,479 $5,759 $12,715
2014 $15,549 $27,177 $7,164 $12,477
2013 $16,304 $27,910 $6,600 $11,723
2012 $17,309 $30,012 $6,054 $11,035
2011 $17,198 $27,242 $5,144 $10,283
2010 $13,720 $26,168 $4,059 $8,972
2009 $13,233 $29,722 $3,708 $8,285
2008 $18,211 $30,523 $3,606 $7,916
2007 $12,617 $26,611 $2,415 $6,901
2006 $10,185 $23,511 $1,997 $6,164
2005 $8,674 $22,137 $1,604 $5,489
2004 $4,901 $19,354 $1,379 $4,798
2003 $2,931 $14,496 $1,229 $4,536
2002 $2,264 $13,255 $936 $4,393
2001 $1,949 $11,627 $756 $4,401
2000 $1,487 $7,420 $634 $4,209
1999 $931 $6,470 $546 $3,981
1998 $578 $5,280 $591 $3,432
1997 $717 $4,387 $565 $3,222
1996 $392 $1,793 $558 $3,636
1995 $248.3 $1,098 $592 $3,405
1994 $183.2 $951 $622 $3,659
1993 $256.7 $828 $788 $4,422
1992 $263.7 $756 $811 $4,351
1991 $225.3 $569 $832 $5,117
1990 $236.4 $577 $848 $5,321
1989 $193.2 - $821 -
1988 $228.7 - $846 -
1987 $220.9 - $675 -
1986 $188.8 - - -
1985 $161.1 - - -
1984 $137.9 - - -
1983 $129.4 - - -
1982 $137.5 - - -
1981 $121.1 - - -
1980 $175.5 - - -
1979 - - - -
1978 - - - -
1977 $376 - - -
1976 $369 - - -
1975 $362 - - -
1974 $319 - - -
1973 $268.6 - - -
1972 $211.4 - - -
1971 $205.6 - - -
1970 $206.8 - - -
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/turkmenistan | CC BY

Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $6,857 in Turkmenistan, ranking 104/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Turkmenistan ranks 94th at $21,213.

Economic indicators

Equatorial Guinea Turkmenistan
Gross domestic product
$12.8B
2024
$51.4B
2024
GDP rank
148/197
2024
92/197
2024
GDP growth
0.91%
2023-2024
6.3%
2023-2024
GDP per capita
$6,745
2024
$6,857
2024
GDP per capita rank
106/197
2024
104/197
2024
GDP per capita, PPP
$17,567
2024
$21,213
2024
GDP per capita PPP rank
106/197
2024
94/197
2024
Government debt
$4.65B
2024
$2.11B
2024
Debt-to-GDP ratio
36.4%
2024
4.11%
2024
Government debt per person
$2,458
2024
$282
2024
Government debt per person rank
110/185
2024
179/185
2024
Average annual personal income after taxes
$5,042
2026
$7,520
2026
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
18.5%
2024
14.5%
2024
Consumer prices inflation
3.4%
2023-2024
4.6%
2023-2024
Unemployment rate
8.6%
2014
4%
2010
Population
1998075
7776557

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Turkmenistan
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Turkmenistan
Government spending Government debt Government spending Government debt
2024 18.5% 36.4% 14.5% 4.11%
2023 19.2% 39.1% 13.7% 5.46%
2022 14.8% 29.8% 13% 7.14%
2021 12.7% 42.3% 13.4% 12.3%
2020 16.2% 49.4% 13.5% 15.4%
2019 16.8% 43.2% 13.6% 17.7%
2018 19.1% 40.6% 13.7% 22.5%
2017 20.1% 36.2% 17.8% 24.7%
2016 27.8% 41.1% 14.1% 21.1%
2015 41.6% 31.7% 17.3% 19%
2014 31.6% 12.6% 17% 16%
2013 29.3% 6.27% 16.9% 20.4%
2012 35.2% 7.1% 14.7% 17.9%
2011 27.5% 7.17% 15.4% 14.8%
2010 31.2% 7.89% 14.6% 7.04%
2009 39.8% 4.34% 14.4% 3.09%
2008 19.9% 0.49% 11.7% 3.56%
2007 19.7% 0.75% 14.4% 3.06%
2006 18.1% 1.22% 16% 4.23%
2005 14.1% 2.85% 21.1% 6.82%
2004 15.5% 4.54% 20.3% 11.4%
2003 11.8% 6.77% 20.8% 16.9%
2002 11.3% 19.4% 19.4% 24.2%
2001 13.5% 25.5% 22.6% 34.1%
2000 22.6% 36.6% 25.9% 55.1%
1999 18.7% 60.5% 20.8% 66.7%
1998 35.1% 59.2% 26.1% 81.6%
1997 14.8% 46.3% 26.9% 64.2%
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/turkmenistan | CC BY

In 2024, Equatorial Guinea's government spending was $2.36B, accounting for 18.5% of its GDP, while Turkmenistan spent $7.46B, or 14.5% of GDP.

Debt-to-GDP ratio is 36.4% in Equatorial Guinea and 4.11% in Turkmenistan, ranking 143/185 and 183/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Turkmenistan
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Turkmenistan
2024 -0.55% -0.08%
2023 2.39% 0.11%
2022 11.7% 3.38%
2021 2.65% 0.57%
2020 -1.77% -0.16%
2019 1.82% -0.4%
2018 0.52% -0.22%
2017 -2.59% -2.84%
2016 -10.9% -2.38%
2015 -15.1% -0.7%
2014 -7.54% 0.89%
2013 -4.4% 1.53%
2012 -7.24% 7.53%
2011 0.83% 3.84%
2010 -4.53% 2.13%
2009 -6.47% 7.53%
2008 14.6% 10.7%
2007 17.2% 4.19%
2006 21.8% 5.64%
2005 18.5% 0.86%
2004 9.22% 1.47%
2003 9.99% 3.99%
2002 17.6% 0.19%
2001 14.9% 0.77%
2000 -2.67% -0.55%
1999 -0.19% 2.48%
1998 -7.65% 1.15%
1997 3.21% -0.2%
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/turkmenistan | 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 Turkmenistan's deficit of $42.9M, or 0.08% of GDP.

Over the past 28 years, Equatorial Guinea recorded a fiscal deficit in 13 of those years, while Turkmenistan ran a deficit in 9 years. On average, Equatorial Guinea posted an annual surplus equal to 2.69% of GDP, compared to surplus of 1.84% of GDP for Turkmenistan.

Inflation comparison by year

Inflation
Equatorial Guinea

Turkmenistan
1x
Year Consumer prices inflation
Equatorial Guinea Turkmenistan
2024 3.4% 4.6%
2023 2.4% -1.6%
2022 4.9% 11.2%
2021 -0.1% 19.5%
2020 4.8% 6.1%
2019 1.2% 5.1%
2018 1.3% 13.3%
2017 0.7% 8%
2016 1.4% 3.6%
2015 1.7% 7.4%
2014 4.3% 6%
2013 3.2% 6.8%
2012 3.4% 5.3%
2011 4.8% 5.3%
2010 5.3% 4.4%
2009 5.7% -2.7%
2008 4.7% 14.5%
2007 2.8% 6.3%
2006 4.5% 8.2%
2005 5.6% 10.7%
2004 4.2% 5.9%
2003 7.3% 5.6%
2002 7.6% 8.8%
2001 8.7% 11.6%
2000 4.8% 8%
1999 0.4% 23.5%
1998 7.9% 16.8%
1997 3% 83.7%

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

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

Over the past 28 years, Equatorial Guinea has recorded an average annual inflation rate of 3.93%, compared with 10.9% in Turkmenistan. In 2024, inflation was 3.4% in Equatorial Guinea and 4.6% in Turkmenistan.

Balance of trade

Equatorial Guinea Turkmenistan
Current account balance
-$344M
1996
n/a
Current account balance ranking
101/190
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
11.2%
2024
Exports of goods and services, % of GDP
35.2%
2024
17.6%
2024

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 47.4 47
Economic freedom ranking 175/197 177/197
Property rights 16.9 17.4
Government integrity 6.9 8.4
Judicial effectiveness 7.2 12.3
Tax burden 81 94.2
Government spending 90.8 94.3
Fiscal health 97.3 99.9
Business freedom 35.9 37.5
Labor freedom 45.2 29.3
Monetary freedom 73.5 76.7
Trade freedom 43.6 74.2
Investment freedom 40 10
Financial freedom 30 10

Economic freedom comparison by year

Equatorial Guinea
Turkmenistan
1x
Year Economic freedom index
Equatorial Guinea Turkmenistan
2026 47.4 47
2025 47.7 47.1
2024 47.7 46.3
2023 48.3 46.5
2022 47.2 46.2
2021 49.2 47.4
2020 48.3 46.5
2019 41 48.4
2018 42 47.1
2017 45 47.4
2016 43.7 41.9
2015 40.4 41.4
2014 44.4 42.2
2013 42.3 42.6
2012 42.8 43.8
2011 47.5 43.6
2010 48.6 42.5
2009 51.3 44.2
2008 51.6 43.4
2007 53.2 43
2006 51.5 43.8
2005 53.3 47.6
2004 53.3 50.7
2003 53.1 51.3
2002 46.4 43.2
2001 47.9 41.8
2000 45.6 37.6
1999 45.1 36.1
1998 - 35

Data sources: The Heritage Foundation | Economic Freedom Index (1998–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, compared to 47 for Turkmenistan, ranking 177/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Equatorial Guinea Turkmenistan
Services, % of GDP
51.1%
2024
50.4%
2024
Industry, % of GDP
45.8%
2024
37.5%
2024
Agriculture, forestry, and fishing, % of GDP
3.15%
2024
12.2%
2024
GNI, Atlas method
$8.96B
2024
$48.8B
2024
GNI per capita, PPP
$12,330
2024
$21,020
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
$0
2024
Servicing debt to the IMF, % of GNI n/a
1.91%
2024
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

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/turkmenistan | 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 (1998–2026, 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. Central Intelligence Agency (CIA) (2014–2020, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.