Main data source:CIA World Fact Book All values, unless otherwise stated, are in US dollars.
The economy of Equatorial Guinea has traditionally been dependent on commodities such as cocoa and coffee, but is now heavily dependent on petroleum due to the discovery and exploitation of significant oil reserves in the 1980s.[11] In 2017, it graduated from "Least Developed Country" status, one of six Sub-Saharan African nations that managed to do so.
However, despite the economic growth and improving infrastructure, the country has been ranked only 138th out of 188 countries on the United Nations Human Development Index in 2015 and despite its impressive GNI figure, it is still plagued by extreme poverty. After the oil price collapsed in 2014, the economy went into a free fall which put growth in a downward spiral from around 15% to −10%.
^"World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
^"World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
^ abcde"World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved 6 December 2019.
^"Global Economic Prospects, January 2020 : Slow Growth, Policy Challenges" (PDF). openknowledge.worldbank.org. World Bank. p. 147. Retrieved 13 February 2020.
^"Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
^"Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
^ abc"Equatorial Guinea". CIA World Factbook. January 11, 2023.
^"Export Partners of Equatorial Guinea". CIA World Factbook. 2012. Archived from the original on June 13, 2007. Retrieved 2013-07-28.
^"Import Partners of Equatorial Guinea". CIA World Factbook. 2012. Archived from the original on June 13, 2007. Retrieved 2013-07-28.
^"Equatorial Guinea". Retrieved 29 October 2019.
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EquatorialGuinea is a country located in Central Africa, with an area of 28,000 square kilometres (11,000 sq mi). Formerly the colony of Spanish Guinea...
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