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Equatorial Guinea Equatorial Guinea

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Equatorial Guinea – Quick View
ECR score8.53 (Mar 2011)
ECR rank180 (Mar 2011)
Economic
GDP 2010USD 14.547 billion
GNI per capita PPP 2009USD 19,330
FDI inflow 2009USD 1,636 million
Inflation 20108%
Central bank assets 2009Foreign assets – USD 3.464 billion
Central bank assets 2009Domestic assets – USD -1.772 billion
Unemployment rateNA
Government deficit 2009USD 0.958 billion
Tax revenue 2009USD 1.89 billion
Political
Government typePresidential Republic
Recent political crisisNA
Economic freedom score157th
Freedom of information score167th
Corruption perception index168th
Structural
Birth rate 200938 per '000
Population balance0-14 years – 41.0%
Population balance15-64 years – 56.1%
Population balanceAbove 65 years –2.9%
Life expectancyMale – 48.9 years
Life expectancyFemale – 51.3 years
Mortality rate15 per '000
Literacy rate 200393%
Internet access2.2%

[Top] Economic Overview

Gross Domestic Product (GDP)

In 2010, GDP at constant prices (2000=100) was XAF 4,313.311 billion, marking an increase of 0.95% from 2009.

 

Equatorial Guinea GDP and GDP growth, (2000=100)

(Source: IMF)

In 2010, GDP at current prices was XAF 7,298.32 billion, decreasing 26.49% since 2009.

 

Equatorial Guinea GDP at current prices (XAF billion)

(Source: IMF)

Gross national income (GNI)

GNI per capita at PPP of Equatorial Guinea was USD 19,330 for the year 2009, decreasing 11.69% from 2008.

Equatorial Guinea GNI per capita, PPP (USD)

 

(Source: worldbank.org)

Gross Nation Income (GNI) was USD 13.069 billion for year 2009.

Tax rates

Income tax rates on individual incomes in Equatorial Guinea are levied progressively up to 35%.

The corporate tax rate in Equatorial Guinea is 35%.           

(Source: taxrate.cc)

Inflation rates

In 2010, the inflation rate of Equatorial Guinea was registered as 8%.

Equatorial Guinea Inflation rate (consumer prices annual %)

 

(Source: IMF)

FDI inflows

In 2009, Foreign Direct Investment (FDI) inflow was USD 1,636 million.

Equatorial Guinea FDI inflows (USD million)

(Source: unctad.org)

Central bank assets

In October 2009, the net foreign assets was XAF 1,660.70 billion and the net domestic assets was XAF -849.7 billion.

Equatorial Guinea Central Bank Assets

 

(Source:imf.orgpage – page 12)

[Top] Financial Indicators & Government Financial

Consumer price index

The consumer price index recorded a hike of 8% in 2010.

Equatorial Guinea Consumer Price Index (2000=100)

 

(Source: IMF) 

Interest rates

 Year

Deposit Interest Rates (%)

Lending Interest Rates (%)

2009 (E)

3.50

-

2008

3.80

-

2007

4.30

15.00

2006

4.30

15.30

2005

4.90

17.7

(E) – Estimated

(Source: worldbank.org, worldbank.org) 

Money supply

M2 refers to time deposits, exchange bills, mortgage bonds, and real estate bonds.

Equatorial Guinea Broad money (M2) (XAF billion)

 

(Source: imf.org - page 13)

Official exchange rate

XAF/ USD rate for 2010 is estimated to be 440.8.

Equatorial Guinea Exchange rate (XAF/USD)

 

(E- Estimated P- Projected)

(Source: africaneconomicoutlook.org)

Government finances

Fiscal balance

In 2009, the estimated fiscal budget deficit of Equatorial Guinea was XAF 459.4 billion.

 

Equatorial Guinea Fiscal balance (XAF billion)

(Source: imf.org - page 8)

Total expenditure

In 2009, total government expenditures of Equatorial Guinea was XAF 2,828 billion.

Equatorial Guinea Total expenditure (XAF billion)

(Source: imf.org - page 8)

Government revenue

In 2009, total revenues of Equatorial Guinea amounted to XAF 2,368.1 billion, decreasing 22.40% from 2008.

Revenue (XAF Billion)

 

2004

2005

2006

2007

2008

2009

Tax revenue

226.6

371.0

510.0

472.8

688.6

905.7

Non-Tax revenue

597.7

1,133.1

1,537.1

1,835.7

2,363.2

1,462.4

Total Revenue

824.3

1,504.2

2,047.1

2,308.5

3,051.8

2,368.1

(Source: imf.org - page 9)

Balance of payments

Balance of Payments (USD million)

 

2009 (e)

2008

2007

2006

2005

2004

Current account

-1950.3

1672.7

541.4

679.4

-511.0

-1,133.5

Trade balance

3236.9

10555.2

7,886.0

6,270.4

4,992.0

3,092.8

Capital and Financial account

454.3

-1262.9

-101.1

109.4

1,845.1

1,756.5

Errors and omissions

28.8

423.7

-43.6

-102.6

49.8

28.8

Overall balance

-1,467.2

833.5

396.7

686.2

1,383.9

651.8

(Source: imf.org - page 15)

[Top] Labour Force and Employment Overview

The labour force in Equatorial Guinea was recorded as 261,527 people in 2009, increasing 3.99% since 2008.

Equatorial Guinea Labour force

(Source: World bank.org)

Labour force participation

In 2008, the labour force participation rate of Equatorial Guinea was 42.9% among women and 92.0% among men.

(Source: un.org)

[Top] Political Stability

The Government in Equatorial Guinea is a Presidential Republic.  Power in the country is shared at three different levels – Legislative, Executive, and Judiciary.  Executive powers are exercised by the President or the through Prime Minister and his council of Ministers. Legislative powers are exercised by the Government and the National Assembly. The judicial powers are free from legislative and executive powers, and are executed by the courts of law.

The National Assembly is comprised of 80 members, elected for a five year term.

(Source: Constitution of Equatorial Guinea)

The current President of Equatorial Guinea is H.E. Teodoro Obiang Nguema Mbasogo. He has been in power since 1979.  In the most recent elections, in November 2009, he recieved 95% votes.

(Source: africaneconomicoutlook.org)

Some of the political parties in the country are:

  • ADP - Progressive Democratic Alliance
  • APGE - Popular Action of Equatorial Guinea
  • CLD - Liberal Democratic Convention
  • CPDS - Convergence for Social Democracy (social-democratic)
  • CSDP - Social Democratic and Popular Convergence
  • IPGE - Popular Idea of Equatorial Guinea
  • MONALIGE - National Liberation Movement of Equatorial Guinea
  • MUNGE - National Unity Movement of Equatorial Guinea

(Source: africanelections.tripod.com)


Business and economic freedom

Equatorial Guinea's economic freedom score is 47.5, making its economy the 157th freest in the 2011 Index. Equatorial Guinea ranks 37th out of the 46 countries in the Sub-Saharan Africa region. Its score is lower than the global and regional averages.

(Source: heritage.org)

Equatorial Guinea Economic Freedom Index

(Source: heritage.org)

Corruption perception

The Corruption Perceptions Index (CPI) is a survey to measure the perceived level of corruption across countries worldwide. Equatorial Guinea is ranked 168th on this list with a score of 1.9. This indicates the high level of corruption prevails in the country.

(Source: transperency.org)

Freedom of information

The government of Equatorial Guinea controls media.

Ebano, La Opinion, La Nacion, La Gaceta are some of the newspapers in the country.

The World Press Freedom Index 2010 ranked Equatorial Guinea  at 167thwith a score of 79 which, indicates that media in Equatorial Guinea is highly restricted.

(Source: BBC News, rsf.org)

Judicial system

The Supreme Court forms the highest entity of the judicial system, and the President of the Supreme Court and its members are appointed by the President of Equatorial Guinea for a term of five years.

(Source: Constitution of Equatorial Guinea)

[Top] Demographic Overview

Population

The total population of Equatorial Guinea for 2009 was 676,273, marking an annual increase of 2.6% from the previous year.

 

Equatorial Guinea Population

(Source: World Bank.Org)

The gender ratio in the country is balanced, there are about 98.4 males for every 100 females in the country.

(Source: un.org)

The population lying between 15-64 accounts for the highest share of  the population, 56.1%.   Followed by those lying between 0-14 accounting for 41.0% of the total population.

Equatorial Guinea Population by age structure (%)

 

(Source: africaneconomicoutlook.org)

The fife expectancy in 2010 was 48.9 years for males and 51.3 years for females.

Source: un.org

Birth rate and death rate

In 2009, the crude birth rate was registered as 38 (per 1,000 people), and the death rate was registered as 15.

(Source: unicef.org)

Migration and urbanisation

International migrant stock, till mid 2010, was recorded at 7.5 thousand people. This was approximately 1.1% of the entire population.

As of 2007, the urban population accounted for 39.2% of the total population in the country.

(Source: un.org)

Ethnic groups

The major ethnic groups in the country are:

  • Fang
  • Bubi
  • Annobonese
  • Ndowe
  • Kombe
  • Bujebas

(Source:state.gov)

The country ranked 117th on the Human Development Index  (HDI) 2010 conducted by the United Nations. The HDI provides a composite measure of three dimensions of human development: living a long and healthy life (measured by life expectancy), being educated (measured by adult literacy and gross enrolment in education) and basic standard of living (measured by purchasing power parity, PPP, income). 

(Source: UNDP)

[Top] Soft Infrastructure

Literacy rate

As of 2009, the literacy rate of Equatorial Guinea was 93%.

(Source: worldbank.org)

Education

In Equatorial Guinea, education is compulsory for every citizen aged 6 to 16.

There are four levels of education:

·         Pre-School

·         Primary Education

·         Secondary Education

·         Higher Education/ Advance Education

Pre-School Education is provided by kindergartens and nursery schools for children prior to the age of six.

Primary school education is the first level of compulsory education, and is for students aged 6-12.

The second level of education is secondary school, for children aged 12-18. 

Higher education or advance education consists of three levels - the first is for three years; the second level is for specialised study and is for two years; and third leve study is for research and lasts for three years.

(Source: worldbank.org)

Education resources

 

Participation in Education, 2008 (Gross Enrolment Ratio) (%)

Pre-primary

17

Primary

102

Secondary

34

Tertiary

6

(Source: unesco.org)

Health

Health Statistics in Equatorial Guinea, 2004

 

Number

Density per '000

Physicians

153

0.30

Nurses

228

0.45

Midwives

43

0.085

Dentists

15

0.03

Pharmacists

130

0.26

Public and environmental health workers

18

0.04

Community Health workers

1,275

251

Lab technicians

75

0.15

Health management and support workers

74

0.15

(Source: WHO)

[Top] Hard Infrastructure

Roadways

The roadwork consisted of 2,880 Km by the end of 2000.

Source: World Bank

Ports

In total there are nine ports in Equatorial Guinea - Port of Bata, Port of Benito, Ceiba Marine Terminal, Port of Cogo, Port of Luba, Port of Malabo, Port of Puerto Iradier, Punta Europa Terminal and Zafiro Marine Terminal.

(Source: worldportsource.com)

Airports

There are two airports in the country.

Airports in Equatorial Guinea

Town

Airport name

Runway Length (ft.)

Bata

Bata

65,000

Malabo

Malabo

96,000

 

(Source: aircraft-charter-world.com)

Telecommunications

In Equatorial Guinea, there were 10,000 fixed telephone line subscribers from 2005 to 2010.

(Source: itu.int)

In 2009, there were 200,000 mobile subscribers in the country, making an increase of 106.4% since 2005.

Equatorial Guinea Number of Mobile phone subscribers

(Source: itu.int)

Internet Access

As of June 2010, the country had 14,400 internet users and internet penetration was 2.2% of the total population.

(Source: internetworldstats.com)

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