tence
farming predominates. Although pre-independence Equatorial Guinea
counted on cocoa production for hard currency earnings, the neglect
of the rural economy under successive regimes has diminished
potential for agriculture-led growth (the government has stated its
intention to reinvest some oil revenue into agriculture). A number
of aid programs sponsored by the World Bank and the IMF have been
cut off since 1993, because of corruption and mismanagement. No
longer eligible for concessional financing because of large oil
revenues, the government has been trying to agree on a "shadow"
fiscal management program with the World Bank and IMF. Government
officials and their family members own most businesses. Undeveloped
natural resources include titanium, iron ore, manganese, uranium,
and alluvial gold. Growth remained strong in 2007, led by oil.

GDP (purchasing power parity):

$15.54 billion (2007 est.)

GDP (official exchange rate):

$10.49 billion (2007 est.)

GDP - real growth rate:

12.4% (2007 est.)

GDP - per capita (PPP):

$28,200 (2007 est.)

GDP - composition by sector:

agriculture: 2.9%
industry: 92.2%
services: 4.8% (2007 est.)

Labor force:

NA

Unemployment rate:

30% (1998 est.)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: NA%
highest 10%: NA%

Investment (gross fixed):

37.9% of GDP (2007 est.)

Budget:

revenues: $4.963 billion
expenditures: $2.494 billion (2007 est.)

Fiscal year:

calendar year

Public debt:

1.6% of GDP (2007 est.)

Inflation rate (consumer prices):

6% (2007 est.)

Central bank discount rate:

5.25% (31 December 2007)

Commercial bank prime lending rate:

15% (31 December 2007)

Stock of money:

$835.2 million (31 December 2007)

Stock of quasi money:

$174.5 million (31 December 2007)

Stock of domestic credit:

NA

Agriculture - products:

coffee, cocoa, rice, yams, cassava (tapioca), bananas, palm oil
nuts; livestock; timber

Industries:

petroleum, fishing, sawmilling, natural gas

Industrial production growth rate:

10.1% (2007 est.)

Electricity - production:

27 million kWh (2006 est.)

Electricity - consumption:

25.11 million kWh (2006 est.)

Electricity - exports:

0 kWh (2007 est.)

Electricity - imports:

0 kWh (2007 est.)

Electricity - production by source:

fossil fuel: