Economy

Before its independence, Equatorial Guinea exported cocoa, coffee and timber, mostly to its colonial ruler, Spain, but also to Germany and the UK.

The discovery of large oil reserves in 1996 and its subsequent exploitation contributed to a dramatic increase in government revenue. As of 2004, Equatorial Guinea is the third largest oil producer in Sub-Saharan Africa. Equatorial Guinea’s main trading partners are the US, China, Spain, Italy and France. Oil and gas are the country’s main exports, with natural gas expected to provide half of total hydrocarbon resources by 2016. From 2000 to 2010, Equatorial Guinea has the highest average annual increase in GDP, 17%. According to the World Bank, Equatorial Guinea has the highest GNI per capita of sub-Saharan countries. The government was criticized for its lack of transparency about and misuse of oil revenues. Now that Equatorial Guinea’s hydrocarbons boom has ended, the government cannot rely on debt-financed investment to support growth. Overall, economic development has been uneven, and poverty remains daunting. Pervasive corruption and onerous regulations are major hurdles for foreign and domestic investment.

Forestry, farming, and fishing are also major components of GDP. As part of the government’s economic diversification strategy, foreign investors are encouraged to look to the agricultural sector as a new area of growth. Farmers are being trained in the latest techniques and technology to modernise and expand the sector. Subsistence farming predominates. The deterioration of the rural economy under successive brutal regimes has diminished any potential for agriculture-led growth.
Equatorial Guinea is the 98th largest export economy in the world. In 2015, Equatorial Guinea exported $5.92B and imported $1.64B, resulting in a positive trade balance of $4.28B. In 2015 the GDP of Equatorial Guinea was $12.2B and its GDP per capita was $40.7k.

The top exports of Equatorial Guinea are Crude Petroleum ($4.1B), Petroleum Gas ($1.39B), Acyclic Alcohols ($230M), Rough Wood ($165M) and Veneer Sheets ($7.87M), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Special Purpose Ships ($230M), Refined Petroleum ($76.8M), Iron Structures ($70.8M), Beer ($64.5M) and Iron Pipes ($40.7M).
The top export destinations of Equatorial Guinea are China ($1.03B), South Korea ($935M), Spain ($567M),Brazil ($468M) and India ($374M). The top import origins are the Netherlands ($303M), Spain ($287M), China ($263M), the United States ($150M) and France ($83.8M).

Equatorial Guinea borders Cameroon and Gabon by land and Nigeria and Sao Tome and Principe by sea.

Media

Media of Equatorial Guinea are primarily run by the state. The BBC (92.5) and Radio France Internationale broadcast on FM in Malabo. Satellite TV is widely available. There were more than 181,000 internet users by 2016 (Internetlivestats.com). The first government-recognized private newspaper, the weekly El Sol, was started in 1994. Spain's Agencia EFE, operating at Malabo, is the only news agency.

Equatorial Guinea provides the following newspapers:

• Ebano - state-owned
• La Opinion - private, weekly
• La Nacion – private
• La Gaceta – monthly

Radio Nacional de Guinea Ecuatorial (RNGE) supervises broadcasts in Spanish and local languages over two radio stations at Malabo and one at Bata. Televisión Nacional transmits over a single, government-controlled channel at Malabo. In the 1990s a commercial radio network was operating, and cultural broadcasts were produced with Spanish collaboration. In 1995 citizens owned about 170,000 radios and 4,800 television sets. Although the constitution of Equatorial Guinea provides for free speech and a free press, the government is said to severely restrict these freedoms in practice, censoring all criticism of the president and security forces. Access to foreign publications is limited. The internet is the main medium for opposition views, says Freedom House.

Transportation

Bush taxis are the main form of transportation in Equatorial Guinea. It is a type of shared taxi connecting Malabo with other major towns like Riaba and Luba. Bush taxis also run to Ebebiyin and Mongomo from Bata.
Driving a car, while possible, is not recommended, as you might come across military and police roadblocks where you will be questioned.

A ferry service operates between Douala, Bata and Malabo. Four passenger classes are available for the journey with different rates. You can take a pirogue (passenger boat) to visit the smaller islands like Corisco.

Minibuses are a common form of public transportation in Equatorial Guinea. They tend to become overcrowded, but they are perfect for getting around and heading to the outskirts of Malabo and Bata.
There are no passenger train services.

Due to the large oil industry in the country, international recognized carriers fly to Malabo International Airport to Europe and West Africa, there are two other national airports. Every airline registered in Equatorial Guinea appears on the list of air carriers prohibited in the EU which means that they are banned from operating services of any kind within the EU. Due to the big-oil presence in the country, internationally recognized carriers fly to Malabo (Bioko). The carriers include:

• Iberia - from Madrid
• Air Europa - from Madrid
• Air France - from Paris
• Ethiopian Airlines - from Addis Ababa
• Lufthansa - from Frankfurt
• Kenya Airways - from Nairobi
• Danish Air Transport - Internal and charters

Health

The national health system of Equatorial Guinea is one of the best in the all continent. It consists of four levels: health posts in each village of 600 people, dispensaries in health centers with a qualified nurse at the intermediate level, district level hospitals, and two referral hospitals at the most centralized level. In 2004, there were an estimated 25 physicians, 40 nurses, 1 dentist, 1 pharmacist, and 2 midwives per 100,000 people. According to the report “2012 Africa Health Financing Scorecard” of the World Health Organization (WHO), Equatorial Guinea invested $612 per capita in health care, the highest per capita investment in the African continent followed by Botswana ($442) and South Africa ($228).

The life expectancy has improved in the past 10 years from 47 years in 2000 to 52 years in 2012, but it is in children’s and women’s health where Equatorial Guinea has improved most: the country has significantly reduced maternal mortality throughout the entire country, and is on track to achieve Millennium Development Goal number 5 along with seven other African countries.
In general the national health system of Equatorial Guinea has made significant progress in the period covered by the previous cooperation strategy with the WHO.

The country is committed to reforming its health system and enhancing the operationalization of health districts, for which it has adopted a series of measures to promote the health sector. As a result, the health of the population has tangibly improved in the country and the remaining challenges have been incorporated into the Horizon 2020 strategy.

Equatorial Guinea has very few real development partners and is entirely responsible for its own development. It does not depend on external health funding and public funds account for 95% of total expenditure on health. The Ministry of Health and Social Welfare met with the United Nations Development Assistance Framework (UNDAF) and adopted a cooperation strategy in 2007 based on Government priorities, transparency, mutual trust, enhanced coordination and assessment of cooperation to ensure a real impact on the people.

The main challenges for the country in the health department are still the diseases such as the malaria or the Ebola virus.

Equatorial Guinea’s innovative malaria control programs have had a remarkable impact on malaria infection, disease, and mortality in the population. Their program consists of twice-yearly indoor residual spraying (IRS), the introduction of artemisinin combination treatment (ACTs), the use of intermittent preventive treatment in pregnant women (IPTp) and the introduction of very high coverage with long-lasting insecticide treated mosquito nets (LLINs). The result of their efforts resulted in a reduction in all-cause under-five mortality from 152 to 55 deaths per 1,000 live births (down 64%); and the drop occurred rapidly and timed directly with the beginning of the program.

Education

The education system in Equatorial Guinea has undergone many changes and overcome significant challenges over the years, and today the government is making strides in the promotion of education and professional training at all levels and for all age groups. From the promotion of compulsory education to advanced studies, the Government of Equatorial Guinea is making education a top priority as part of its Horizon 2020 development plan.

Education in Equatorial Guinea is free and compulsory until the age of 14. Primary education is for five years followed by four years of secondary in the first stage and three subsequent years of secondary education in the second stage.

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 preschool program to the secondary school level, and the government support to education in the country. Nevertheless the country is deeply committed to change that and offer opportunities for young girl to study. The National University of Equatorial Guinea which was founded in 1995, is the primary institute of higher learning. The main campus is located in Malabo. The school of Medicine is located in Bata.

According to the publication of the UNESCO Institute of Statistics, in 2011 Equatorial Guinea obtained the highest literacy rate of Sub-Saharan Africa with a percentage of 94.2%, followed by South Africa with 93% and Seychelles with 91.8%1.

School enrolment in primary education reaches 87% and 58% of all children complete primary education. The student to teacher ratio in secondary education is 23:1.