In Equatorial Guinea, oil accounts for 80 percent of total exports and 90 percent of government revenues. Equatorial Guinea also exports timber, natural gas, cocoa and fish. Equatorial Guinea’s main export partner is Spain (15 percent of total exports). Others include: China, United States and Japan.
What are the major imports and exports of Guinea?
Exports The top exports of Guinea are Gold ($2.83B) , Aluminium Ore ($2.82B), Aluminium Oxide ($91.2M), Non-fillet Frozen Fish ($47.1M), and Coconuts, Brazil Nuts, and Cashews ($45.3M), exporting mostly to United Arab Emirates ($2.36B), China ($2.16B), India ($379M), Belgium ($255M), and Spain ($197M).
What does Equatorial Guinea sell?
Equatorial Guinea’s economy traditionally depended on three commodities— cocoa (from the cacao tree) , coffee, and timber—but the discovery and exploitation of petroleum and natural gas changed the country’s economic profile virtually overnight in the 1980s.
What is the main industry of Equatorial Guinea?
Overview. Equatorial Guinea’s economy relies heavily on its oil and natural gas industry , which accounted for more than 60% of its gross domestic product (GDP), 80% of its fiscal revenue, and 86% of its exports in 2015, according to the latest estimates from the International Monetary Fund’s country reports.
What are the main exports in Guinea?
Guinea is a leading exporter of bauxite and holds the mineral’s largest reserve in the world. Other exports include iron, gold, diamonds, oil and coffee.
What is Guinea main source of income?
Bauxite mining and alumina production provide about 80% of Guinea’s foreign exchange. Several U.S. companies are active in this sector. Diamonds and gold also are mined and exported on a large scale, providing additional foreign exchange.
What is the language of Guinea?
French is the country’s official language , but is used almost exclusively as a second language. Six indigenous languages have the status of national languages: Pular (or Fula), Maninka, Susu, Kissi, Kpelle and Toma.
What is the main export of Guinea Bissau?
Guinea Bissau main export is cashew nuts (90 percent of total exports) followed by fish and shrimp. Main export partners are: India, Singapore, Portugal and Nigeria.
What are the natural resources of Guinea?
Guinea has an abundance of natural resources: it is the source of several major rivers, and has exceptional biodiversity, the third of the world’s bauxite reserves, significant gold, diamond, and oil resources .
What is Liberia’s main export?
Liberia relies primarily on commodity exports (mainly rubber, iron ore, and gold ) as major sources of export earnings.
Why is Equatorial Guinea so rich?
Since the start of oil production in the mid-nineties, Equatorial Guinea has become Africa’s wealthiest nation on a per-capita basis , and the third-largest oil producing country in sub-Saharan Africa.
What is the richest country in Africa?
| Characteristic Wealth in billion U.S. dollars | South Africa 604 | Egypt 282 | Nigeria 207 | Morocco 111 |
|---|
Why is Guinea so poor?
Causes of Poverty in Guinea. Guinea is a West African country known for its rich reserves of iron ore, gold, bauxite and other minerals. Despite the wealth these resources generate, Guinea is one of the poorest countries in the world .
What is unique about Equatorial Guinea?
1. It is the only country in Africa to have Spanish as an official language . Equatorial Guinea was a Spanish colony on 2 separate occasions: between 1778 and 1810 and from 1844 to 1968. ... In fact, Equatorial Guinea is the only country in Africa where Spanish is an official language.
What is the most popular food in Equatorial Guinea?
Fish and chicken are common dishes. As seen in the dishes here, chilies and other spices are popular. Key ingredients in Equatoguinean cuisine come from local plants and animals, including plantains, sweet potato, breadfruit, cassava, yam, cocoyam (known locally as malanga), groundnuts, and snails.
What is the culture of Equatorial Guinea?
Equatorial Guinea is a country where mingle modernity and traditions . Despite a veneer of Spanish culture and of Roman Catholic religion that is thicker in Bioko than on the mainland, many Equatorial Guineans live according to ancient customs, which have undergone a revival since independence.
