ECONOMIC FRAMEWORK

ECONOMIC FRAMEWORK

GDP per capita: Equatorial Guinea has one of the highest GDP per capita in Africa. According to the World Economic Outlook made by the International Monetary Fund, the GDP in U.S. dollars was 8,201 in 2006, 10,436 in 2007, 14,859 in 2008, 9,579 in 2009 and 17,911 in 2010, being heavily influenced by the evolution of the price of the oil barrel and the domestic production.

Relations with regional associations: Equatorial Guinea is a member of the African Union (AU), an organization based on the model of the European Union, which aims to establish a parliament, a central bank, a single currency, a court of justice and an investment bank. Since 1984 Equatorial Guinea is also a member of CEMAC, which is aimed at the economic integration of the six central Africa country members. These countries already have a common currency (the CFA franc) and a unified monetary policy conducted by the Bank of Central African States (BEAC).

Major sectors of the economy: Agriculture, stockbreeding, fishing, forestry, solid mining, oil and gas, manufacturing, construction, telecommunications and tourism.

The foreign sector: trade relations: Spain was traditionally the main export destination for Equatorial Guinea, but from the 90s, the United States has become the largest market for Equatorial Guinea’s oil. In 2009, the main export destinations for Equatorial Guinea were, in this order, : the U.S., China, Spain, Italy and France. As for imports, China is positioned since 2008 as the main provider for Equatorial Guinea, whereas the U.S. takes a second place in Equatorial Guinea imports, which are directed primarily to meet the needs of the energy sector.

MISSION

The Embassy of Equatorial Guinea in Brussels—being one of the most important foreign diplomatic missions of Equatorial Guinea—has a mix of bilateral and multilateral competences.

Regarding bilateral relations, its jurisdiction extends over Belgium (host country), the Netherlands, Luxembourg and the Republic of Turkey—all of them top bilateral partners of Equatorial Guinea.

Contact

Embassy address:
Place Guy d’Arezzo, 6 1180 Bruxelles, Belgium

Tel: 0032 (0) 2 346 25 09
Fax: 0032 (0) 2 346 33 09

Email: guineaecuatorial.brux@skynet.be

Opening hours:
Monday – Friday from 9h to 13h and from 14h to 16h, except holidays.