Equatorial Guinea: Goods and services expense (current LCU)

Key figures

What the numbers say

In 2022, Equatorial Guinea's goods and services expense (current LCU) rose 4.3% on 2021 (from 229.46 billion to 239.4 billion).

Across the 15 yearly changes before that (2007 to 2021), the average change was +10.6% and a typical year strayed about 33.9% from that (the standard deviation). This year's change was 0.2 standard deviations below 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 104.5% in 2012 and the biggest yearly fall was 37.8% in 2015. 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 downward, about 21.52 billion a year. A straight line explains 58% 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.

Closest to Equatorial Guinea in the 2022 ranking

• Lao PDR — 2nd of 8: 3.81 trillion
• India — 3rd of 8: 2.33 trillion
• Serbia — 4th of 8: 334.69 billion
• Australia — 6th of 8: 69.37 billion
• Ecuador — 7th of 8: 8.69 billion
• Timor-Leste — 8th of 8: 476.48 million

What this measures

Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Use of goods and services for account capital formation is excluded. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

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).

All 17 values

Goods and services expense (current LCU) in nearby economies

• Angola — 5.12 trillion (2024)
• Botswana — 17.92 billion (2023)
• Burkina Faso — 313.6 billion (2024)
• Burundi — 178.07 billion (2021)
• Cabo Verde — 11.14 billion (2020)
• Cameroon — 1.04 trillion (2021)
• Central African Republic — 51.58 billion (2021)
• Congo, Dem. Rep. — 4.84 trillion (2022)
• Congo, Rep. — 359 billion (2021)
• Côte d'Ivoire — 1.42 trillion (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)

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Questions people ask

What is Equatorial Guinea's goods and services expense (current LCU)?

239.4 billion in 2022, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is up 172.56% from 87.84 billion in 2006 (6.47% a year on average, compounded). The highest value was 488.64 billion in 2013 and the lowest 85.58 billion in 2007.

Is the latest change in goods and services expense (current LCU) unusual for Equatorial Guinea?

In 2022, Equatorial Guinea's goods and services expense (current LCU) rose 4.3% on 2021 (from 229.46 billion to 239.4 billion). Across the 15 yearly changes before that (2007 to 2021), the average change was +10.6% and a typical year strayed about 33.9% from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Where does this data come from?

Source

World Bank, World Development Indicators, indicator GC.XPN.GSRV.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) 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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