Equatorial Guinea: Expense (% of GDP)

Key figures

What the numbers say

In 2022, Equatorial Guinea's expense (% of GDP) rose 0.69 percentage points on 2021 (from 10.36% to 11.05%).

Across the 15 yearly changes before that (2007 to 2021), the average change was +0.44 percentage points and a typical year strayed about 1.18 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 2.85 percentage points in 2015 and the biggest yearly fall was 1.9 percentage points in 2021. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2013 to 2022 the straight-line trend is upward, about 0.4 percentage points a year. A straight line explains 62% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2022, Equatorial Guinea had the 25th highest value of the 25 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Equatorial Guinea in the 2022 ranking

• Ireland — 21st of 25: 19.24%
• India — 22nd of 25: 13.73%
• Congo, Dem. Rep. — 23rd of 25: 12.45%
• Lao PDR — 25th of 25: 10.32%

What this measures

Expense is a decrease in net worth resulting from a transaction. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

Regional and income-group figures are computed by the World Bank as a weighted average.

All 17 values

Expense (% of GDP) in nearby economies

• Angola — 14.57% (2019)
• Botswana — 26.53% (2024)
• Burkina Faso — 19.58% (2023)
• Burundi — 12.26% (2021)
• Cabo Verde — 30.88% (2020)
• Cameroon — 12.42% (2021)
• Central African Republic — 11.66% (2021)
• Congo, Dem. Rep. — 12.45% (2022)
• Congo, Rep. — 16.13% (2021)
• Côte d'Ivoire — 17.88% (2023)
• Eswatini — 24.62% (2021)
• Ethiopia — 6.12% (2023)

More public sector data for Equatorial Guinea

• Armed forces personnel, total — 1,000 (2020)
• Armed forces personnel (% of total labor force) — 0.16% (2020)
• Statistical performance indicators (SPI): Pillar 1 data use score (scale 0-100) — 10 (2024)
• Statistical performance indicators (SPI): Pillar 3 data products score (scale 0-100) — 60.41 (2024)
• Arms imports (SIPRI trend indicator values) — 12 million (2024)
• Net investment in nonfinancial assets (current LCU) — 336.02 billion (2022)
• Net investment in nonfinancial assets (% of GDP) — 3.94% (2022)
• Net lending (+) / net borrowing (-) (current LCU) — 979.19 billion (2022)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Equatorial Guinea's expense (% of GDP)?

11.05% in 2022, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is up 7.36 percentage points from 3.69% in 2006. The highest value was 12.25% in 2020 and the lowest 3.43% in 2007.

How does Equatorial Guinea rank?

25th highest of 25 economies with data for 2022.

Is the latest change in expense (% of GDP) unusual for Equatorial Guinea?

In 2022, Equatorial Guinea's expense (% of GDP) rose 0.69 percentage points on 2021 (from 10.36% to 11.05%). Across the 15 yearly changes before that (2007 to 2021), the average change was +0.44 percentage points and a typical year strayed about 1.18 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator GC.XPN.TOTL.GD.ZS, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF); World Development Indicators, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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