
Equatorial Guinea
Climate:
tropical;
always hot, humid
Terrain:
coastal plains rise to interior hills; islands are volcanic
Elevation:
mean elevation: 577 m
elevation extremes: lowest point: Atlantic Ocean 0 m
highest point: Pico Basile 3,008 m
Natural resources:
petroleum, natural gas, timber, gold, bauxite, diamonds, tantalum, sand, and gravel, clay
Land use:
agricultural land: 10.1%
arable land 4.3%; permanent crops 2.1%; permanent pasture 3.7%
forest: 57.5%
other: 32.4% (2011 est.)
Irrigated land:
NA
Population – distribution:
only two large cities over 30,000 people (Bata on the mainland, and the capital Malabo on the island of Bioko); small communities are scattered throughout the mainland and the five inhabited islands
Natural hazards:
violent windstorms;
flash floods
People and Society
The population of Equatorial Guinea in 2017 was estimated by the CIA at 778,358, which placed it at number 164 in population among the 193 nations of the world. In 2016, approximately 7% of the population was over 65 years of age, with another 55% of the population under 15 years of age. There were 98 males for every 100 females in the country. The UN estimated that 45% of the population lived in urban areas in 2005 and that urban areas were growing at an annual rate of 4.16%. The capital city, Malabo, had a population of 95,000 in that year.
Equatorial Guinea is one of the smallest and least populated countries in continental Africa and is the only independent African country where Spanish is an official language. Despite a boom in oil production in the 1990s, authoritarianism, corruption, and resource mismanagement have concentrated the benefits among a small elite. These practices have perpetuated income inequality and unbalanced development, such as low public spending on education and healthcare. Unemployment remains problematic because the oil-dominated economy employs a small labor force dependent on skilled foreign workers. The agricultural sector, Equatorial Guinea’s main employer, continues to deteriorate because of a lack of investment and the migration of rural workers to urban areas.
About three-quarters of the population live below the poverty line. Equatorial Guinea’s large and growing youth population – about 60% are under the age of 25 – is particularly affected because job creation in the non-oil sectors is limited, and young people often do not have the skills needed in the labor market. Equatorial Guinean children frequently enter school late, have poor attendance, and have high dropout rates. Thousands of Equatorial Guineans fled across the border to Gabon in the 1970s to escape the dictatorship of MACIAS NGUEMA; smaller numbers have followed in the decades since. Continued inequitable economic growth and high youth unemployment increase the likelihood of ethnic and regional violence.
Population:
778,358 (July 2017 est.)
Nationality:
Equatorial Guinean(s)
Ethnic groups:
Fang 85.7%, Bubi 6.5%, Mdowe 3.6%, Annobon 1.6%, Bujeba 1.1%, other 1.4% (1994 census)
Languages:
Spanish (official) 67.6%, other (includes French (official), Fang, Bubi) 32.4% (1994 census)
Religions:
nominally Christian and predominantly Roman Catholic, pagan practices
Ethnicity, Language, and Religion
The majority of the people of Equatorial Guinea are of Bantu origin. The largest ethnic group, the Fang, is indigenous to the mainland, but substantial migration to Bioko Island since the 20th century means the Fang population exceeds that of the earlier Bubi inhabitants. The Fang constitute 80% of the population and comprise around 67 clans. Those in the northern part of Río Muni speak Fang-Ntumu, while those in the south speak Fang-Okah; the two dialects have differences but are mutually intelligible. Coastal groups, such as the Kombe, Mabea, Lengi, Benga, and others, have been in contact with European traders much longer, and a limited amount of intermarriage between European and African ethnic groups has taken place, especially on the island of Corisco. Spanish ethnographers refer to these coastal peoples as players (“those who live on the beach”). Both the Fang majority and the playero groups are Bantu peoples.
For years, the official languages were Spanish and French. Portuguese was also adopted as an official language later in 2010. Spanish has been an official language since 1844. It is still the language of education and administration. 67.6% of Equatorial Guineans can speak it, especially those living in the capital, Malabo. Each ethnic group speaks its own language; among the most prominent of these languages are Fang and Bubi. The official languages of the country, however, are Spanish and French. Spanish is taught in schools and used by the press; it is the primary means of communication common to both Bioko and the mainland. As a result of Equatorial Guinea’s closer economic association with Francophone countries begun in 1983, French became a compulsory subject in schools in 1988 and an official language in 1997. In addition, an English-based creole is used extensively in petty commerce and forms the lingua franca on Bioko, and a Portuguese patois is spoken on both Bioko and Annobón.
Although African traditional religion has left its vestiges among the indigenous tribes, about 93% of the population are Christian. Within the Christian population, 87% are Roman Catholic and about 4.5% are mainline Protestant, primarily Baptist and Episcopalian. Though there is no state religion, a 1992 law established an official preference for the Catholic Church and the Reform Church of Equatorial Guinea, based on the traditional importance of these two denominations in popular culture. Other religious groups must register through the Ministry of Justice and Worship. Religious study (primarily Catholic) is required in public schools.
Education
The literacy rate in Equatorial Guinea is 92.1% for men and 76.4% for women. This disparity is explained by the fact that girls, for one reason or another, are more likely to drop out of school than boys, despite free education from the pre-school program to the secondary school level, and the government support to education in the country. The educational system is supervised by the Ministry of Education and Sciences and is focused on the country’s transformation into a high-quality source of well-educated young men and women, the development of the youth not only with skills needed for the socio-economic advancement of the country, but also to be highly competitive in the global economy. A plan for the country also includes giving priority to basic education, especially the pre-school and primary levels, and to girls’ education to discourage, among others, rampant marriages and pregnancies among the young undergraduate women.
The pre-school program admits children from three to six years of age. It is divided into two parts: the nursery and kindergarten devoted mostly to games, creative activities, and other children events. The primary education is for five years while the secondary education has four years in the first stage and three years in the second stage. This level is a preparation for admission to college or the higher institution of higher learning. The primary school has also two levels, namely: the first for children aged six to 10, and the second for children aged 10 to 12.
The secondary school has two cycles to earn a baccalaureate degree. The first cycle consists of four years of study, and the second cycle, three years. The advanced cycle or college education has three levels: (1) three years of study (2) two years of specialized study, and (3) three years devoted to research.
Higher education facilities are provided mainly through Spanish assistance via the Spanish National University of Distant Education; locations are in the principal cities of Bata and Malabo. Some students who reach the university level also go abroad to study, primarily in Spain and France. In addition, there are five institutions of higher learning in Equatorial Guinea: the National Institute for Health (Bata), the National Institute for Public Administration (ENAP), the National Institute for Agriculture (ENAM), the Santa Isabel and Bata Institutes for Teachers’ Training, and the National Centre for Proficiency in Teaching (CENAFOD), financed by UNESCO
Economy
The country has been one of the fastest growing economies in Africa in the past decade. After the discovery of large oil reserves in the 1990s, Equatorial Guinea became the third-largest producer of oil in Sub-Saharan Africa, after Nigeria and Angola. More recently, substantial gas reserves have also been discovered. However, the country macroeconomic and fiscal situation has deteriorated following the oil price drop. Exploitation of oil and gas deposits, beginning in the 1990s, has driven economic growth in Equatorial Guinea; a recent rebasing of GDP resulted in an upward revision of the size of the economy by approximately 30%. Forestry and farming are minor components of GDP.
The government’s development agenda is guided by a medium-term strategy paper, the National Economic Development Plan: Horizon 2020, which targets economic diversification and poverty reduction. The first phase of Horizon 2020, focused on infrastructure development was concluded in 2012. The second phase will focus on economic diversification, targeting strategic new sectors such as fisheries, agriculture, tourism, and finance.
As the country moves into the second phase of the National Development Plan, the government is planning to redirect public investment from infrastructure towards the development of new economic sectors. Equatorial Guinea is largely dependent on oil. The significant economic impact of the recent drop in international oil prices has underscored the importance of promoting non-oil growth and increasing the efficiency of spending.
Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the neglect of the rural economy since independence has diminished the potential for agriculture-led growth. Subsistence farming is the dominant form of livelihood. Declining revenue from hydrocarbon production, high levels of infrastructure expenditures, lack of economic diversification, and corruption have pushed the economy into decline in recent years and limited improvements in the general population’s living conditions. Equatorial Guinea’s real GDP growth has been weak in recent years, averaging -0.5% per year from 2010 to 2014, because of a declining hydrocarbon sector. Inflation remained very low in 2016, down from an average of 4% in 2014.
GDP (purchasing power parity):
$29.38 billion (2017 est.)
$31.73 billion (2016 est.)
$35.13 billion (2015 est.)
note: data are in 2017 dollars
GDP (official exchange rate):
$10.07 billion (2017 est.)
GDP – real growth rate:
-7.4% (2017 est.)
-9.7% (2016 est.)
-9.1% (2015 est.)
GDP – per capita (PPP):
$34,900 (2017 est.)
$38,600 (2016 est.)
$44,000 (2015 est.)
Gross national saving:
0.9% of GDP (2017 est.)
0.5% of GDP (2016 est.)
17.6% of GDP (2015 est.)
GDP – composition, by sector of origin:
agriculture: 2.5%
industry: 56.5%
services: 41% (2017 est.)
Agriculture – products:
coffee, cocoa, rice, yams, cassava (manioc, tapioca), bananas, palm oil nuts; livestock; timber
Industries:
petroleum, natural gas, sawmilling
Population below poverty line:
44% (2011 est.)
Budget:
revenues: $3.186 billion
expenditures: $3.431 billion (2017 est.)
Agriculture
Agriculture accounts for 2.5 % of GDP. While this represents a considerable decline in the importance of agriculture in GDP vis-à-vis the pre-oil period, this is still an increase compared to the last decade (in 2008 the share of agriculture in GDP was 0.9 %). This figure masks the real dependence of the population on subsistence agriculture, which remains vital for a large part of Equatorial Guineans. The sector is also faced with rural exodus, with Equatorial Guineans increasingly turning to the hydrocarbons sector for employment.
Bioko is home to marginal cash crops (cocoa, coffee), that can be cultivated thanks to regional climate. They are heavily subsidized by the State, which itself recognizes that this strategy to boost agriculture has not paid off. The government now wants to develop a professional agriculture capable of ensuring food security and limiting imports. For this, farmers will benefit from training and literacy programs. Logging in the mainland is being carried out by large foreign companies that tend to overexploit the country’s reserves. The conditions used by the government to grant concessions are obscure and seem rather biased.
Equatorial Guinea has considerable fishery potential thanks to its marine territory. Increasing the productivity of this sector is a priority of the economic diversification policy. The Government is also seeking to increase the capacity of fish processing activities to become a hub for regional trade.
Equatorial Guinea has a high potential for the development of agricultural production. It has a favorable climate for all kinds of tropical and subtropical crops, fertile soil, favorable rainfall and abundant water reserves. This sector offers unique opportunities for the development of small local industry initiatives. The crops grown in Equatorial Guinea include, among others:
Industry and Mining
Recent large oil discoveries are structurally changing the economy making Equatorial Guinea one of the most oil-dependent countries in the world. 2001 and 2002 should be another two years of exceptional growth of GDP, owing to the sharp increase in oil production during the period. oil production likely to reach one-fifth of Nigeria’s oil production in a few years, the country’s main challenge consists of the management of such a rapid and large wealth inflow. Indeed, the spectacular abundance of oil revenues has strained Equatorial Guinea’s undersized administration capacity. Lack of consistent and credible data on macroeconomic and financial flows is a significant example of this lack of capacity.
Equatorial Guinea is the fifth largest producer of African oil, with 289,000 barrels per day in 2015, compared with 358,000 barrels a day in 2005. With reserves of 1.1 billion barrels, and this production pace this country will no longer be able to produce oil in 10 years. The country is now seeking to issue new exploration permits. The operation may prove complicated, as several large companies have already withdrawn from their contracts due to lack of results. The country has natural gas reserves of 1,340 billion cubic feet. Equatorial Guinea is also a producer of methanol.
The value for Manufacturing, value added (current LCU) in Equatorial Guinea was $1.3 billion of 2016. As the graph below shows, over the past 10 years, this indicator reached a maximum value of $3 billion in 2012 and a minimum value of $677 million in 2006. The value for Manufacturing, value added (annual % growth) in Equatorial Guinea was -33.39 as of 2016. As the graph below shows, over the past 9 years, this indicator reached a maximum value of 66.78 in 2009 and a minimum value of -40.21 in 2010. Manufacturing, value added (% of GDP) in Equatorial Guinea was 11.62 as of 2016. Its highest value over the past 10 years was 19.15 in 2009, while its lowest value was 7.01 in 2008.

Banking and Finance
The banking sector consists of five banks, three of which hold 84 percent of total assets. 2 The rest of the financial sector consists of three micro financial institutions and three insurance companies. All institutions are supervised by the COBAC, the regional supervisory agency, except the insurance sector which is supervised by the National Directorate of Banking and Insurance, under the Ministry of Finance, which implements at the national level the policies of the Regional Insurance Control Commission (CRCA). 3 Regional bond markets are shallow, and the Equator-Guinean government has only recently taken initial steps toward tapping this potential source of financing. Given the small size of microfinance, its limited partnership with banks, and the apparent profitability of the insurance sector,4 financial stability is largely determined by the banking sector.
Equatorial Guinea’s financial development gap is the highest among African oil-exporters, at one-fifth the level predicted by its income and other fundamentals.5 (Text Figure 1). Financial deepening, as measured by deposit- and loan-to-GDP ratios is less than a third of the EM average. The shallowness of the financial sector is mostly due to persistent structural bottlenecks, which include limited information on potential borrowers’ credit history and high collateral requirements. Furthermore, limited efforts to promote the micro-financial sector constrains the size of micro-financial services, thereby impeding access to financial services by low-income populations. Very little progress has been achieved in recent years to implement the country’s long-standing financial sector reform agenda, which includes establishing credit bureaus, upgrading collateral registries, strengthening contract and creditor rights enforcement, and improving SME access to financial services.
Stress tests show that liquidity and solvency are highly sensitive to macroeconomic shocks. Given the protracted oil shock, Equatorial Guinea should encourage the regional supervisor to put in place action plans to ensure bank compliance with prudential norms and provisioning against accumulated NPLs, and cooperate with the COBAC to undertake an asset quality review and in closely monitoring of government-guaranteed loans; The COBAC and the BEAC should develop a regional strategy to better monitor and tackle macro-financial spillovers through parent-subsidiary linkages; And improving the quality and timeliness of financial stability indicators is indispensable for accurate assessment and timely intervention. Implement crosscutting financial sector structural reforms to close the financial development gap, support the transformation plan, and allow banks to play a more supportive role in economic growth.
Tourism
A mix of beautiful scenery and rich vegetation, Equatorial Guinea promises travelers a variety of enticing attractions. It’s rare that a feel of the African tropics, volcanic landscapes, relaxing coastal escapes, and Spanish colonial towns can all be enjoyed in one destination. Tourists generally start in the big cities like Bata and Malabo where they can find contemporary comforts and explore the culture at the markets and try local cuisine before venturing out to the surrounding areas where the wilderness awaits. Getting around may be a bit challenging but enjoyable for the adventurous, whether by bicycle, four-wheel drive vehicle or public transportation.
Consisting of two parts, an island region consisting of the islands of Bioko and Annobó, and the mainland region of Río Muni, Equatorial Guinea offers stunning and varied landscapes, picturesque beaches and spectacular virgin rainforests. For those who relish new experiences, Equatorial Guinea offers a true adventure. On Bioko Island, you will find volcanic views, rainforests full of endangered primates and shores of nesting sea turtles. The capital city is Malabo, based in the island region of Bioko. It has retained much of its colonial-era architecture, with historical buildings including the former Palace of the Government, cathedral, City Hall and Casa Verde.
Place of Attraction
Catedrál de Santa Isabel; On the west side of the Plaza de España, this gracious, apricot-hued building is the most beautiful in the country. The architect, Llairadó Luis Segarra, had some input from Antonio Gaudí. Construction began in 1887 and it was consecrated in 1916. The style is Gothic Revival and it is flanked by two 40m-high towers and has three naves. It has recently been restored.
Monte Alen National Park; Monte Alen is one of Central Africa’s best-kept secrets, and reason enough to visit Equatorial Guinea. A protected area covering 2000 sq km, the park is an excellent place to experience the lush rainforests and wildlife of Rio Muni.
Arena Blanca; Arena Blanca is a lovely beach close to Luba, with white sand. It is known for its clouds of breeding butterflies. You’ll find the beach is cleaner the further away from the car park you walk.
Other attractions include Arena Blanca, Luba Mirador, Moka Mirador, Evaluate, Malabo National Park, Plaza del Reloj, Benito River Bridge, Equatoguinean Cultural Centre, Catedral de Santiago Apóstol y Nuestra Señora del Pilar, Casa Verde and more.