Equatorial Guinea is located in the heart of Gulf of Guinea, in west-central Africa, bordered by the Atlantic Ocean to the west, the Cameroon to the north and the Gabon to the east and south. It has a land area of approximately 28.1 thousands square kilometers and the population is about 1.5 million in 2021. The capital is Malabo and Bata city is the largest economic centre of the country.
Equatorial Guinea has petroleum, natural gas, phosphate, gold, bauxite, zinc, diamond and other resources, with natural gas and proven crude oil reserves of 300 billion cubic meters and 5.6 barrels respectively. Equatorial Guinea is the third largest oil producer in sub-Saharan Africa and crude oil has become a pillar industry of country’s economic and social development. In 2021, the daily production capacity of crude oil was around 100 thousand barrels, mainly explored by USA and UK companies. Rich in forest and fishery resources, the forest area is 2.2 million hectares with 46% forest coverage rate and the maritime exclusive economic zone is 312 thousands square kilometers. Tuna, African yellow croaker and prawns are rich, with an annual catch of 70,000 to 100,000 tons.
The “2022 World Investment Report” published by the United Nations Conference on Trade and Development (UNCTAD), pointed out that by the end of 2021, Equatorial Guinea has attracted US$15.6 billion on stock of inward direct investment. According to the “2021 Statistical Bulletin of China’s Outward Foreign Direct Investment”, by the end of 2021, the stock of direct investment of China in Equatorial Guinea was US$280 million.
|Trade in Goods|
In 2021, Equatorial Guinea’s main export destinations are China, India, Spain and Korea. Its main export goods are mainly crude oil, organic chemicals, and wooden products.
The main import origins include Spain, China, the United States, and the United Kingdom. The main imported goods include vessels, machines, and beverages.
In 2022, China’s exports to Equatorial Guinea amounted to US$230 million, mainly include non-navigating vessels, liquefied gas carrier, ground tile; goods imported from Equatorial Guinea amounted to US$1.5 billion, mainly include crude oil, liquefied natural gas.
Source: People’s Republic of China Ministry of Commerce “Country (region) guide for foreign investment co-operation (Equatorial Guinea)”