Equatorial Guinea [+]Compare [E]dit [H]istory

Aliases: Guinea Ecuatorial/Guinee Equatoriale, Republic of Equatorial Guinea, Republica de Guinea Ecuatorial/Republique de Guinee Equatoriale, Spanish Guinea

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Object «Equatorial Guinea» has attributes

Attribute Value
Geography
Area 28,051 km²
Continent Africa
Land area 28,051 km²
Water area 0 km²
Land boundaries 528 km
Border countries
  • Cameroon
  • Gabon
Coastline 296 km
Mean elevation 577 m
Lowest point 0 m
Highest point 3,008 m
People
Population 836,178
Official languages
  • French
  • Portuguese
  • Spanish
Religion Nominally Christian and predominantly Roman Catholic, Muslim, Baha'i, animist, indigenous
Government
Long country name Republic of Equatorial Guinea
Short country name Equatorial Guinea
Long local name Republica de Guinea Ecuatorial/Republique de Guinee Equatoriale
Short local name Guinea Ecuatorial/Guinee Equatoriale
Former name
  • Spanish Guinea
Government type Presidential republic
Capital Malabo
Economy
GDP (PPP) 31,520,000,000 USD
GDP (OER) 12,490,000,000 USD
GDP (real growth rate) -3.2 %
GDP - per capita (PPP) 37,400 USD
Gross national saving 6.1 % of GDP
Labor force 195,200
Unemployment rate 8.6 %
Population below poverty line 44 %
Budget revenues 2,114,000,000 USD
Budget expenditures 2,523,000,000 USD
Military expenditures 0.18 % of GDP
Taxes and other revenues 16.9 % of GDP
Budget surplus or deficit -3.3 % of GDP
Public debt 37.4 % of GDP
Inflation rate 0.7 %
Central bank discount rate 8.5 %
Commercial bank prime lending rate 15 %
Stock of narrow money 1,510,000,000 USD
Stock of broad money 1,510,000,000 USD
Stock of domestic credit 2,806,000,000 USD
Market value of publicly traded shares Add
Current account balance -738,000,000 USD
Exports 6,118,000,000 USD
Imports 2,577,000,000 USD
Reserves of foreign exchange and gold 45,500,000 USD
External debt 1,211,000,000 USD
National currency Cooperation Financiere en Afrique Centrale francs
National currency (code) XAF
National currency (symbol) FCFA
National currency rate to USD 605.3

Equatorial Guinea gained independence in 1968 after 190 years of Spanish rule; it is one of the smallest countries in Africa consisting of a mainland territory and five inhabited islands. The capital of Malabo is located on the island of Bioko, approximately 25 km from the Cameroonian coastline in the Gulf of Guinea. Between 1968 and 1979, autocratic President Francisco MACIAS NGUEMA virtually destroyed all of the country's political, economic, and social institutions before being deposed by his nephew Teodoro OBIANG NGUEMA MBASOGO in a coup. President OBIANG has ruled since October 1979. He has been elected several times since 1996, and was most recently reelected in 2016. Although nominally a constitutional democracy since 1991, presidential and legislative elections since 1996 have generally been labeled as flawed. The president exerts almost total control over the political system and has placed legal and bureaucratic barriers that hinder political opposition. Equatorial Guinea has experienced rapid economic growth due to the discovery of large offshore oil reserves, and in the last decade had become Sub-Saharan Africa's third largest oil exporter, though in 2018 it slipped to 5th place. Despite the country's economic windfall from oil production, resulting in a massive increase in government revenue in recent years, the drop in global oil prices has placed significant strain on the state budget. The country has been in recession since 2014. Oil revenues have mainly been used for the development of infrastructure and there have been limited improvements in the population's living standards. Equatorial Guinea continues to seek to diversify its economy and to increase foreign investment. The country hosts major regional and international conferences and continues to seek a greater role in international affairs, and leadership in the sub-region.  

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There was one edit, no edits waiting approval. Last edited by jmcdermott(9391), Sep 16, 2019 (64 fields were changed)
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