Equatorial Guinea: Taxes on goods and services (current LCU)

Key figures

What the numbers say

In 2022, Equatorial Guinea's taxes on goods and services (current LCU) rose 43.4% on 2021 (from 62.24 billion to 89.25 billion).

Across the 15 yearly changes before that (2007 to 2021), the average change was +9.3% and a typical year strayed about 31.2% from that (the standard deviation). This year's change was 1.1 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 76.3% in 2012 and the biggest yearly fall was 40.8% in 2013. 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 there is no clear straight-line trend: a straight line explains 13% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

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

• Congo, Dem. Rep. — 3rd of 8: 4.54 trillion
• Serbia — 4th of 8: 1.19 trillion
• Australia — 5th of 8: 110.61 billion
• Ecuador — 7th of 8: 7.58 billion
• Timor-Leste — 8th of 8: 100.98 million

What this measures

General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. 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

Taxes on goods and services (current LCU) in nearby economies

• Angola — 1.79 trillion (2024)
• Botswana — 10.79 billion (2023)
• Burkina Faso — 1.34 trillion (2024)
• Burundi — 654.58 billion (2021)
• Cabo Verde — 15.87 billion (2020)
• Cameroon — 1.53 trillion (2021)
• Congo, Dem. Rep. — 4.54 trillion (2022)
• Congo, Rep. — 232.66 billion (2021)
• Côte d'Ivoire — 2.44 trillion (2023)
• Eswatini — 4.64 billion (2021)

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

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Questions people ask

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

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

How has it changed since 2006?

It is up 209.41% from 28.85 billion in 2006 (7.31% a year on average, compounded). The highest value was 97.49 billion in 2015 and the lowest 28.85 billion in 2006.

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

In 2022, Equatorial Guinea's taxes on goods and services (current LCU) rose 43.4% on 2021 (from 62.24 billion to 89.25 billion). Across the 15 yearly changes before that (2007 to 2021), the average change was +9.3% and a typical year strayed about 31.2% from that (the standard deviation). This year's change was 1.1 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

Where does this data come from?

Source

World Bank, World Development Indicators, indicator GC.TAX.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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