Trade opportunities in Africa: Equatorial Guinea


Located on the west coast of Africa, Equatorial Guinea has a population of 1.4 million inhabitants. There are 3 official languages in the country, Spanish, French and Portuguese, however each ethnic group speaks its own language.

 

Equatorial Guinea is a member of the Economic and Monetary Community of Central Africa (CEMAC), with the following state members like Cameroon, Central African Republic, Chad, Congo and Gabon.

 

Although the above Trade Agreement is the only one signed by Equatorial Guinea, Exports and Imports are key activities for the country. Petroleum products account for the vast majority of Equatorial Guinea’s exports. On the other hand, imports are much more diversified.

 

With regard to foreign trade, Equatorial Guinea was the 122 largest exporting economy in 2020, with a total of $3.1 billion, according International Trade Centre.

 

Behind Mozambique (121) with $3.4 billion and followed by Mauritania (123) with $2.9 billion. The countries within its geographical area of influence like Gabon, Congo and Cameroon were placed in positions 108th, 110th and 113th respectively.

 

In 2020, the top exports of Equatorial Guinea was:

  • Petroleum oils and oils obtained from bituminous minerals: $2.1 billion (43%)
  • Petroleum gas and other gaseous hydrocarbons: $598 million (12%)
  • Acyclic alcohols and their halogenated: $104 million (2%)
  • Commodities not elsewhere specified: $98 million (2%)
  • Wood in the rough: $68 million (1%)

 

As for the imported products in 2020, the top 5 of imports was:

  • Vessels and other floating structures for breaking up: $252 million (25%)
  • Light-vessels, fire-floats, dredgers, floating cranes: $89 million (9%)
  • Tubes and pipes: $32 million (3%)
  • Meat and edible offal of fowls of the species Gallus, ducks: $31 million (3%)
  • Cruise ships, excursion boats, ferry-boats, cargo ships: $30 million (3%)

 

Its main trading partners are China, which represents 30% of exchanges, followed by Spain with 14% of exchanges and Portugal with 9% of exchanges.

 

The main destinations of exports were:

  1. China 37%
  2. Spain 13%
  3. Portugal 13%
  4. India 12%
  5. Korea (Republic of) 5%

 

The main origins of imports were:

  1. Nigeria 31%
  2. Spain 16%
  3. China 10%
  4. USA 8%
  5. The Netherlands 4%

 

Useful addresses are:

 

Need more information about the market of Equatorial Guinea, please contact me xavireverter@exportwings.com. Data from 2020, other years are stated.

 

Sources:

 

Image: By P. Pastor – Own work, CC BY-SA 3.0

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