Equatorial Guinea Major Exports
Equatorial Guinea, a small country located on the west coast of Central Africa, has a resource-rich economy. The country is heavily dependent on its oil and gas industry, which dominates its export sector. Despite its limited population and size, Equatorial Guinea’s strategic location and natural resource wealth have made it one of Africa’s major oil exporters. In addition to petroleum, the country exports a range of other products, including agricultural commodities and timber. Below is an overview of Equatorial Guinea’s major exports, their trade values, and key markets.
Petroleum and Petroleum Products
The most significant contributor to Equatorial Guinea’s export economy is its petroleum sector, which includes crude oil, refined petroleum products, and natural gas. These resources account for the bulk of the country’s export revenues and are the main drivers of its economic growth.
Crude Oil
- Exports of crude oil were valued at approximately $4.5 billion in 2022.
- Key export markets include the United States, China, and the European Union.
Crude oil is by far the most important export product for Equatorial Guinea. The country is one of the largest oil producers in sub-Saharan Africa, with offshore fields providing the majority of its production. The United States has historically been the largest importer of Equatorial Guinea’s crude oil, although China and European countries such as France and Spain have also been key destinations. Equatorial Guinea’s oil is primarily used for energy generation and refined petroleum production globally.
Liquefied Natural Gas (LNG)
- Exports of liquefied natural gas (LNG) were valued at approximately $2 billion in 2022.
- Key export markets include Japan, Spain, and South Korea.
Equatorial Guinea has invested heavily in natural gas production, particularly in the liquefied natural gas (LNG) sector. The country’s LNG export infrastructure has allowed it to diversify its energy exports beyond crude oil. Japan, Spain, and South Korea are major buyers of Equatorial Guinea’s LNG, which is used for power generation and as a fuel for various industrial processes. As natural gas continues to grow in importance globally, Equatorial Guinea is positioning itself as a key LNG supplier.
Agricultural Products
While the oil and gas sector dominates Equatorial Guinea’s export profile, agricultural exports also contribute to the economy. The country’s climate is suitable for the production of a variety of crops, though agriculture remains less developed than the energy sector.
Cocoa Beans
- Exports of cocoa beans were valued at around $30 million in 2022.
- Key export markets include the United States, France, and Belgium.
Cocoa is one of Equatorial Guinea’s primary agricultural exports. The country has the potential to expand its cocoa production due to its favorable growing conditions. Cocoa beans are exported to various international markets, with Europe and the United States being significant buyers. Cocoa is processed into chocolate and other products, making it an important agricultural commodity for Equatorial Guinea.
Coffee
- Exports of coffee were valued at approximately $25 million in 2022.
- Key export markets include France, Germany, and the Netherlands.
Coffee is another key agricultural product for Equatorial Guinea, though its export value is lower than that of cocoa. The country produces both arabica and robusta coffee beans, which are exported to European markets such as France, Germany, and the Netherlands. Coffee production has the potential to grow, but it faces challenges related to infrastructure and competition from other coffee-producing nations in Africa.
Palm Oil
- Exports of palm oil were valued at around $20 million in 2022.
- Key export markets include Spain, the United States, and other African nations.
Palm oil is an important agricultural export for Equatorial Guinea, especially as demand for the commodity has grown worldwide due to its use in food products, cosmetics, and biofuels. The country has ideal conditions for palm oil cultivation, and it is increasingly being produced for both domestic use and export. Spain, the United States, and other African countries are key destinations for Equatorial Guinea’s palm oil.
Timber and Wood Products
Equatorial Guinea is home to extensive rainforests, which provide a wealth of timber resources. Logging has been an important industry, and timber products contribute significantly to the country’s export economy.
Timber and Logs
- Exports of timber and logs were valued at approximately $150 million in 2022.
- Key export markets include China, Spain, and the United States.
Timber is one of the more significant non-oil exports for Equatorial Guinea. The country has a rich variety of hardwoods, which are in demand in international markets for construction, furniture-making, and industrial use. China, Spain, and the United States are major destinations for Equatorial Guinea’s timber exports. The country is also involved in the export of processed wood products, such as plywood and furniture, although the timber sector faces challenges related to environmental concerns and sustainable forestry practices.
Processed Wood Products
- Exports of processed wood products were valued at approximately $50 million in 2022.
- Key export markets include the European Union, the United States, and Asia.
In addition to raw timber, Equatorial Guinea exports a variety of processed wood products. These products include furniture, plywood, and wood panels, which are primarily exported to markets in the European Union, the United States, and parts of Asia. The timber sector has the potential for growth, especially if the country focuses on sustainable forestry and expanding its processing capabilities.
Fisheries and Seafood
The fishing industry in Equatorial Guinea has also seen growth in recent years, with the country’s location along the Atlantic coast providing access to a rich supply of marine life. Seafood exports include both fresh and processed products.
Fish and Seafood
- Exports of fish and seafood were valued at around $60 million in 2022.
- Products include tuna, shrimp, and other marine species.
- Key export markets include Spain, Italy, and France.
Equatorial Guinea exports a variety of seafood, including tuna and shrimp, to European markets. The fishing sector is supported by both local fishing fleets and international companies that operate in Equatorial Guinea’s exclusive economic zone (EEZ). While the country has abundant marine resources, the fishing industry faces competition from other countries in the region and challenges related to sustainable fishing practices.
Chemicals and Pharmaceuticals
Equatorial Guinea’s pharmaceutical and chemical industries have also grown in recent years, though they remain relatively small compared to other export sectors.
Pharmaceuticals and Chemicals
- Exports of chemicals and pharmaceuticals were valued at approximately $25 million in 2022.
- Key export markets include neighboring African countries and parts of Europe.
Equatorial Guinea’s pharmaceutical sector has made strides, particularly in producing generic medicines. The country also exports basic chemicals, which are used in various industries such as agriculture, manufacturing, and cosmetics. The market for these products is still relatively small, but there is room for growth, especially in supplying regional markets within Africa.
Other Notable Exports
In addition to the major categories listed above, Equatorial Guinea exports a range of other products that contribute to its economy. Some of these include:
- Textiles: The country exports a small but growing amount of textiles, particularly garments, to countries in Africa and Europe.
- Metals and Minerals: Equatorial Guinea has potential reserves of gold, bauxite, and other minerals. While exports of metals and minerals are still limited, they are expected to grow with further exploration and investment in mining.
- Livestock: Livestock products, including cattle and goats, are exported to neighboring African countries, though the sector is still developing.
Equatorial Guinea’s export profile is heavily dominated by the oil and gas sector, which generates the bulk of the country’s export revenues. However, the nation also exports a range of agricultural products, timber, and seafood. While the oil and gas industry remains the backbone of Equatorial Guinea’s economy, the country is taking steps to diversify its export base in order to reduce dependency on hydrocarbons and foster sustainable economic growth.
Top Products Exported by Equatorial Guinea
Market Value: 22,156 (millions) – Last Updated: June, 2024
| Rank | Product | Trade Value (thousands) | Share (%) | Growth (% 5yr) |
| 1 | Crude Oil | 6,829,091 | 30.82 | 306.34 |
| 2 | Petroleum Gases | 279,296 | 1.26 | 3,260.62 |
| 3 | Acyclic Alcohols | 221,555 | 1.00 | 211.47 |
| 4 | Veneer Sheets | 21,375 | 0.10 | 113.47 |
| 5 | Lumber | 15,242 | 0.07 | -79.41 |
| 6 | Non Crude Oil | 9,329 | 0.04 | 7,930.96 |
| 7 | Cocoa | 3,112 | 0.01 | 5.14 |
| 8 | Parts For Fork Lifts, Bulldozers & Graders | 880 | 0.00 | -7.25 |
| 9 | Wood Sawn > 6 mm | 622 | 0.00 | -60.94 |
| 10 | Aircraft Engines | 547 | 0.00 | 246.83 |
| 11 | Engine Parts | 471 | 0.00 | 2,041.40 |
| 12 | Interchange Hand & Machine Tools | 341 | 0.00 | 122.08 |
| 13 | Plants For Pharmacy | 306 | 0.00 | 3,998.22 |
| 14 | Mechanical Machinery & Parts | 257 | 0.00 | 423.42 |
| 15 | Television, Radio & Assessory Parts | 250 | 0.00 | 859.18 |
| 16 | Pumps For Liquids | 213 | 0.00 | -10.49 |
| 17 | Aircraft Parts | 178 | 0.00 | 1,540.34 |
| 18 | Electrical Switching Boards | 150 | 0.00 | -40.89 |
| 19 | Survey Instruments | 145 | 0.00 | -94.96 |
| 20 | Machinery Parts | 142 | 0.00 | -87.61 |
| 21 | Automatic Regulating & Control Instruments | 138 | 0.00 | -0.42 |
| 22 | Air & Vacuum Pumps | 123 | 0.00 | 24.10 |
| 23 | Telephone, Fax & Switching Apparatus | 110 | 0.00 | 2,306.85 |
| 24 | Taps, Cocks & Valves | 97 | 0.00 | -69.55 |
| 25 | Coffee | 87 | 0.00 | 208.27 |
| 26 | Frozen Fish | 79 | 0.00 | 615.84 |
| 27 | Computers, Printers & Storage Units | 70 | 0.00 | -49.98 |
| 28 | Cellulose & Chemical Derivatives | 64 | 0.00 | 0.00 |
| 29 | Measuring or Checking Instruments | 57 | 0.00 | -49.77 |
| 30 | Passenger Vehicles | 57 | 0.00 | 4,931.49 |
| 31 | Diesel Engines | 57 | 0.00 | 0.00 |
| 32 | Switches, Relays & Fuses < 1000 Volts | 48 | 0.00 | 492.27 |
| 33 | Cel Phones, Video Recorders & Radio Transcievers | 47 | 0.00 | 169.08 |
| 34 | Parts For Electric Equipment | 39 | 0.00 | -3.59 |
| 35 | Plastic Tubes | 36 | 0.00 | 3,815.62 |
| 36 | Oscilloscopes & Electrical Measuring Instruments | 34 | 0.00 | 0.00 |
| 37 | Cow & Horse Hides | 25 | 0.00 | 0.00 |
| 38 | Ferrous Waste & Scrap | 24 | 0.00 | 0.00 |
| 39 | Plywood | 23 | 0.00 | -60.03 |
| 40 | Articles of Iron & Steel | 23 | 0.00 | -96.26 |
| 41 | Screws, Bolts & Nuts | 22 | 0.00 | 0.00 |
| 42 | Transformers, Converters & Power Supplies | 20 | 0.00 | 237.01 |
| 43 | Electric Lasers | 17 | 0.00 | 0.00 |
| 44 | Instruments for Measure & Check Flow | 17 | 0.00 | -86.11 |
| 45 | Radar Apparatus & Navigation | 15 | 0.00 | 0.00 |
| 46 | Glazed Ceramic Flags & Paving | 15 | 0.00 | 0.00 |
| 47 | Prepared Fruit | 14 | 0.00 | -43.85 |
| 48 | Specialized Electrical Machinery & Parts | 14 | 0.00 | 525.34 |
| 49 | Iron & Steel > 600Mm Wide – Cold | 14 | 0.00 | 0.00 |
| 50 | Copper Waste & Scrap | 13 | 0.00 | 0.00 |
| 51 | Primary Cells & Batteries | 12 | 0.00 | 0.00 |
| 52 | Compasses & Navigation Instruments | 11 | 0.00 | 0.00 |
| 53 | Ships Derricks & Cranes | 10 | 0.00 | -78.54 |
| 54 | Computer & Office Machines Parts | 8 | 0.00 | -88.59 |
| 55 | Seamless Iron & Steel Tubes & Pipes | 7 | 0.00 | -98.66 |
| 56 | Percussion Instruments | 7 | 0.00 | 931.76 |
| 57 | Articles of Vulcanized Rubber | 7 | 0.00 | 0.00 |
| 58 | Fresh Fish | 7 | 0.00 | 163.09 |
| 59 | Hand Tools | 6 | 0.00 | -59.18 |
| 60 | Tanks – > 300 Liter | 6 | 0.00 | 0.00 |
| 61 | Live Plants | 6 | 0.00 | 0.00 |
| 62 | Transmission Shafts, Bearings & Parts | 6 | 0.00 | 32.36 |
| 63 | TV Receivers | 6 | 0.00 | 0.00 |
| 64 | Books | 6 | 0.00 | 953.31 |
| 65 | Woven Cotton Fabrics – > 85% < 200G/M2 | 6 | 0.00 | 0.00 |
| 66 | Ginger, Thyme & Spices | 5 | 0.00 | 0.00 |
| 67 | Other Animals | 5 | 0.00 | -61.81 |
| 68 | Semi Trucks & Tractors | 4 | 0.00 | 0.00 |
| 69 | Containers of Transport | 4 | 0.00 | 0.00 |
| 70 | Stranded Wire | 4 | 0.00 | -78.21 |
| 71 | Tube & Pipe Fittings | 4 | 0.00 | 0.00 |
| 72 | Furniture & Parts | 4 | 0.00 | 0.00 |
| 73 | Vulcanized Rubber Tubes | 3 | 0.00 | 0.00 |
| 74 | Containers For Compressed & Liquid Gas | 3 | 0.00 | -95.30 |
| 75 | Dishwashing & Packaging Machines | 3 | 0.00 | -89.44 |
| 76 | Electric Light Equipment | 3 | 0.00 | 0.00 |
| 77 | Electric Motors & Generators | 3 | 0.00 | -98.14 |
| 78 | Sand Blasting Machines | 3 | 0.00 | 0.00 |
| 79 | Electric Sound & Visual Signaling Apparatus | 3 | 0.00 | 0.00 |
| 80 | Misc Tools | 2 | 0.00 | 0.00 |
| 81 | Motor Vehicle Parts | 2 | 0.00 | 72.21 |
| 82 | Insulated Wire & Cable | 2 | 0.00 | 0.00 |
| 83 | Live Fish | 2 | 0.00 | 110.99 |
| 84 | Chain & Parts | 2 | 0.00 | 0.00 |
| 85 | Raw Hides & Skins | 2 | 0.00 | 0.00 |
| 86 | Prepared & Preserved Fish | 2 | 0.00 | -0.72 |
| 87 | Other Pharmaceutical Goods | 2 | 0.00 | 0.00 |
| 88 | Drawing Instruments | 2 | 0.00 | -90.20 |
| 89 | Floating Structures, Rafts & Buoys | 2 | 0.00 | 0.00 |
| 90 | Medical, Dental & Vet Instruments | 2 | 0.00 | -24.48 |
| 91 | Wire & Rods | 2 | 0.00 | -56.16 |
| 92 | Records & Tapes | 2 | 0.00 | -73.61 |
| 93 | Machinery For Sorting Screening Minerals | 2 | 0.00 | 0.00 |
| 94 | Fork-Lift Trucks | 2 | 0.00 | 0.00 |
| 95 | Trailers | 1 | 0.00 | 0.00 |
| 96 | Ball & Roller Bearings & Parts | 1 | 0.00 | 0.00 |
| 97 | Paper Labels | 1 | 0.00 | 0.00 |
| 98 | Binders For Found Molds | 1 | 0.00 | 0.00 |
| 99 | Flexible Tubing of Base Metal | 1 | 0.00 | 0.00 |
| 100 | Physical Exercise Equipment | 1 | 0.00 | 0.00 |
| 101 | Gaskets & Similar Joints of Metal Sheeting | 1 | 0.00 | -76.73 |
| 102 | Cut Flowers & Buds | 1 | 0.00 | 0.00 |
| 103 | Knitted T-Shirts | 1 | 0.00 | 0.00 |
| 104 | Dates | 1 | 0.00 | -95.27 |
| 105 | Padlocks | 0 | 0.00 | 0.00 |
| 106 | Electric Water Heaters | 0 | 0.00 | 0.00 |
| 107 | Electric Ignition Equipment | 0 | 0.00 | -93.99 |
| 108 | Articles of Plastics | 0 | 0.00 | -97.38 |
| 109 | Glassware For Table | 0 | 0.00 | 0.00 |
| 110 | Instruments For Physical or Chemical Analysis | 0 | 0.00 | -97.14 |
| 111 | Ink Jet Printers | 0 | 0.00 | -97.91 |
| 112 | Dried Fruit | 0 | 0.00 | -95.11 |
| 113 | Plastic Containers | 0 | 0.00 | 0.00 |
| 114 | Bananas | 0 | 0.00 | -99.62 |
| 115 | Shell Fish | 0 | 0.00 | -95.77 |
| 116 | Lamps & Lighting Fittings | 0 | 0.00 | -99.28 |
| 117 | Pictures & Photos | 0 | 0.00 | 0.00 |
| 118 | Weighing Machines | 0 | 0.00 | 0.00 |
