Equatorial Guinea gained independence in 1968 after 190 years of Spanish rule. This tiny country, composed of a mainland portion plus five inhabited islands, is one of the smallest on the African continent.

President Teodoro Obiang Nguema Mbasogo has ruled the country since 1979 when he seized power in a coup.

Although nominally a constitutional democracy since 1991, the 1996 and 2002 presidential elections - as well as the 1999 and 2004 legislative elections - were widely seen as flawed.

The president exerts almost total control over the political system and has discouraged political opposition. Equatorial Guinea has experienced rapid economic growth due to the discovery of large offshore oil reserves, and in the last decade has become Sub-Saharan Africa's third largest oil exporter.

Despite the country's economic windfall from oil production resulting in a massive increase in government revenue in recent years, there have been few improvements in the population's living standards.

Source: CIA World Fact Book

Population: 551,201 (July 2007 est.)

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Age structure: 0-14 years: 41.5% (male 114,816/female 113,688) 15-64 years: 54.8% (male 145,740/female 156,097) 65 years and over: 3.8% (male 8,957/female 11,903) (2007 est.)

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Median age: total: 18.8 years male: 18.3 years female: 19.4 years (2007 est.)

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Population growth rate: 2.015% (2007 est.)

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Birth rate: 35.16 births/1,000 population (2007 est.)

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Death rate: 15.01 deaths/1,000 population (2007 est.)

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Net migration rate: 0 migrant(s)/1,000 population (2007 est.)

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Sex ratio: at birth: 1.03 male(s)/female under 15 years: 1.01 male(s)/female 15-64 years: 0.934 male(s)/female 65 years and over: 0.752 male(s)/female total population: 0.957 male(s)/female (2007 est.)

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Infant mortality rate: total: 87.15 deaths/1,000 live births male: 93.17 deaths/1,000 live births female: 80.95 deaths/1,000 live births (2007 est.)

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Life expectancy at birth: total population: 49.51 years male: 48.11 years female: 50.95 years (2007 est.)

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Total fertility rate: 4.48 children born/woman (2007 est.)

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HIV/AIDS - adult prevalence rate: 3.4% (2001 est.)

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HIV/AIDS - people living with HIV/AIDS: 5,900 (2001 est.)

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HIV/AIDS - deaths: 370 (2001 est.)

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Major infectious diseases: degree of risk: very high food or waterborne diseases: bacterial diarrhea, hepatitis A, and typhoid fever vectorborne disease: malaria (2007)

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Nationality: noun: Equatorial Guinean(s) or Equatoguinean(s) adjective: Equatorial Guinean or Equatoguinean Ethnic groups: Fang 85.7%, Bubi 6.5%, Mdowe 3.6%, Annobon 1.6%, Bujeba 1.1%, other 1.4% (1994 census)

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Religions: nominally Christian and predominantly Roman Catholic, pagan practices

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Languages: Spanish 67.6% (official), other 32.4% (includes French (official), Fang, Bubi) (1994 census)

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Literacy: definition: age 15 and over can read and write total population: 85.7% male: 93.3% female: 78.4% (2003 est.)

The discovery and exploitation of large oil reserves have contributed to dramatic economic growth in recent years. Forestry, farming, and fishing are also major components of GDP. Subsistence 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 2006, led by oil. Equatorial Guinea now has the fourth highest per capita income in the world, after Luxembourg, Bermuda, and Jersey.

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GDP (purchasing power parity): $25.69 billion (2005 est.)

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GDP (official exchange rate): $7.644 billion (2005 est.)

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GDP - real growth rate: 18.6% (2005 est.)

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GDP - per capita (PPP): $50,200 (2005 est.)

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GDP - composition by sector: agriculture: 2.8% industry: 92.6% services: 4.5% (2006 est.)

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Labor force: NA

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Unemployment rate: 30% (1998 est.)

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Population below poverty line: NA%

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Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA%

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Inflation rate (consumer prices): 5.2% (2006 est.)

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Investment (gross fixed): 34.1% of GDP (2006 est.)

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Budget: revenues: $2.752 billion expenditures: $1.424 billion; including capital expenditures of $NA (2006 est.)

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Public debt: 4.7% of GDP (2006 est.)

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

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Industries: petroleum, fishing, sawmilling, natural gas

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Industrial production growth rate: 30% (2002 est.)

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Electricity - production: 26 million kWh (2004)

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Electricity - consumption: 24.18 million kWh (2004)

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Electricity - exports: 0 kWh (2004)

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Electricity - imports: 0 kWh (2004)

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Oil - production: 420,000 bbl/day (2005 est.)

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Oil - consumption: 1,220 bbl/day (2004 est.)

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Oil - exports: NA bbl/day

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Oil - imports: NA bbl/day

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Oil - proved reserves: 12 million bbl (1 January 2005)

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Natural gas - production: 100 million cu m (2004 est.)

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Natural gas - consumption: 100 million cu m (2004 est.)

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Natural gas - exports: 0 cu m (2004 est.)

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Natural gas - imports: 0 cu m (2004 est.)

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Natural gas - proved reserves: 36.81 billion cu m (1 January 2005 est.)

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Current account balance: $175 million (2006 est.)

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Exports: $8.961 billion f.o.b. (2006 est.)

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Exports - commodities: petroleum, methanol, timber, cocoa

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Exports - partners: China 30.1%, US 21.7%, Spain 12.3%, Portugal 5.9%, Brazil 4.6% (2006)

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Imports: $2.543 billion f.o.b. (2006 est.)

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Imports - commodities: petroleum sector equipment, other equipment

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Imports - partners: US 40.1%, Spain 10%, Cote d'Ivoire 8.4%, France 6.5%, UK 6.1%, Italy 5.3% (2006)

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Reserves of foreign exchange and gold: $3.235 billion (2006 est.)

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Debt - external: $289 million (2006 est.)

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Economic aid - recipient: $NA

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Currency (code): Communaute Financiere Africaine franc (XAF); note - responsible authority is the Bank of the Central African States

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Exchange rates: Communaute Financiere Africaine francs (XAF) per US dollar - 522.4 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003), 696.99 (2002)

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Fiscal year: calendar year