Equatorial Guinea
2019 Economic Complexity : -2.06, Rank 145 of 146
2019 Product Exports | Imports: $4.49B | $978M, 118 of 225 | 179 of 225
2019 Per Capita Product Exports | Imports: $3.31k | $721, 74 of 219 | 163 of 219
Overview: In 2019 Equatorial Guinea was the number 140 economy in the world in terms of GDP (current US$), the number 118 in total exports, the number 179 in total imports, the number 81 economy in terms of GDP per capita (current US$) and the number 145 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Equatorial Guinea are Crude Petroleum ($3.08B), Petroleum Gas ($920M), Acyclic Alcohols ($265M), Rough Wood ($172M), and Veneer Sheets ($11.8M), exporting mostly to China ($1.52B), India ($853M), Spain ($502M), United States ($304M), and Singapore ($190M).
Imports: The top imports of Equatorial Guinea are Gas Turbines ($65.7M), Beer ($33.7M), Special Purpose Ships ($33M), Machinery Having Individual Functions ($32.5M), and Excavation Machinery ($28.7M), importing mostly from United States ($211M), Spain ($186M), China ($113M), United Kingdom ($54M), and United Arab Emirates ($51.7M).
Location: Equatorial Guinea borders Cameroon and Gabon by land and Nigeria and Sao Tome and Principe by sea.
Historical Data
#permalink to sectionYearly Exports
#permalink to sectionTop Export (2019): Crude Petroleum, $3.08B
Top Destination (2019): China, $1.52B
In 2019, Equatorial Guinea exported a total of $4.49B, making it the number 118 exporter in the world. During the last five reported years the exports of Equatorial Guinea have changed by -$7.24B from $11.7B in 2014 to $4.49B in 2019.
The most recent exports are led by Crude Petroleum ($3.08B), Petroleum Gas ($920M), Acyclic Alcohols ($265M), Rough Wood ($172M), and Veneer Sheets ($11.8M). The most common destination for the exports of Equatorial Guinea are China ($1.52B), India ($853M), Spain ($502M), United States ($304M), and Singapore ($190M).
Yearly Imports
#permalink to sectionTop Import (2019): Gas Turbines, $65.7M
Top Origin (2019): United States, $211M
In 2019 Equatorial Guinea imported $978M, making it the number 179 trade destination in the world. During the last five reported years the imports of Equatorial Guinea changed by -$1.39B from $2.37B in 2014 to $978M in 2019.
The most recent imports of Equatorial Guinea are led by Gas Turbines ($65.7M), Beer ($33.7M), Special Purpose Ships ($33M), Machinery Having Individual Functions ($32.5M), and Excavation Machinery ($28.7M). The most common import partners for Equatorial Guinea are United States ($211M), Spain ($186M), China ($113M), United Kingdom ($54M), and United Arab Emirates ($51.7M).
Market Growth
#permalink to sectionFastest Growing Export Markets (2018 - 2019)
- India, $298M (+ 53.7%)
- Spain, $64.9M (+ 14.9%)
- Chinese Taipei, $60M (+ 13.9k%)
Fastest Growing Import Markets (2018 - 2019)
- United States, $75.8M (+ 56.2%)
- Nigeria, $33M (+ 33.2k%)
- United Arab Emirates, $30.3M (+ 141%)
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionEquatorial Guinea has a high level of specialization in Rough Wood (45.8), Acyclic Alcohols (34.9), Veneer Sheets (13.1), Crude Petroleum (12.6), and Petroleum Gas (12.4). Specialization is measured using RCA, an index that takes the ratio between Equatorial Guinea observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Equatorial Guinea according to the product complexity index (PCI) are Acyclic alcohols and their derivatives (-0.56), Veneers and sheets for plywood etc <6mm thick (-0.7), Wood sawn, chipped lengthwise, sliced or peeled (-1.11), Wood in the rough or roughly squared (-1.71), and Petroleum gases and other gaseous hydrocarbons (-2.15). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Equatorial Guinea according to the relatedness index, are Cocoa Beans (0.015), Raw Aluminium (0.014), Nickel Mattes (0.013), Uranium and Thorium Ore (0.013), and Iron Reductions (0.013). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Equatorial Guinea is not specialized in.
Product Space
#permalink to sectionThe product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
Diversification Frontier
#permalink to sectionThe Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
Economic Complexity Ranking
#permalink to sectionDuring the last 7 years Equatorial Guinea's economy has become relatively less complex, moving from the 144th to the 145th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
