Equatorial Guinea Export, Import and Trade

By: EconomyWatch   Date: 30 June 2010

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Equatorial Guinea trade and oil

For years oil has been an important component of Equatorial Guinea export, import and trade, especially export sector. Equatorial Guinea export sector has been able to earn billions of dollars by exporting oil as far as national economy is concerned.


Africa economic growth and Equatorial Guinea import and export

Economists have predicted that in 2009 rate of economic growth of Africa at a rather sharp rate. It would be reduced to 2 percent in 2009 fiscal from 5.25 percent in 2008 fiscal. This is going to have a significant bearing on Equatorial Guinea export, import and trade especially export of oil, which is a major bread earner for this country.


Equatorial Guinea export and import 2008

In 2008 fiscal combined financial worth of all goods and services exported by Equatorial Guinea was in region of $15.82 billion. It primarily exported goods and services like petroleum, timber, methanol and cocoa.

At that same period total financial value of goods and services that had been imported by Equatorial Guinea was almost about $3.211 billion. It primarily exported machines related to oil industry. It imported other useful equipments as well.


Equatorial Guinea export and import partners

US have always been major Equatorial Guinea export, import and trade partner. In 2007 it accounted for 20.6 percent of goods exported from this African nation. At that same time goods and services exported by US to Equatorial Guinea accounted for 19.6 percent of entire import of that country.


China comes next. 18.8 percent of goods and services exported by Equatorial Guinea in 2007 were sent to China and during that time it accounted for 7.7 percent of imports of that country. Spain is next in line.

In 2007 it accounted for 13.9 percent of entire exports of Equatorial Guinea and 13.7 percent of its imports. Taiwan was responsible for 13.4 percent of exports of Equatorial Guinea in 2007 and France accounted for 7.5 percent. France also was responsible for 9.6 percent of imports of Equatorial Guinea. 6.5 percent of exports of Equatorial Guinea were made to Japan in 2007 fiscal and 6.4 percent exports were made to Portugal.


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