Hydrocarbons account for 97% of the state's exports, and it is a member of the African Petroleum Producers Organization. In 2020, it faces its eighth year of recession, due in part to endemic corruption. The economy of Equatorial Guinea was expected to grow about 2.6% in 2021, a projection that was based on the successful completion of a large gas project and the recovery of the world economy by the second half of the year. But the country is expected to return to recession in 2022, with a real GDP decline of about 4.4%. In 2022, the country's Gini coefficient was 58.8.
Hydrocarbons account for 97% of the state's exports, and it is a member of the African Petroleum Producers Organization. In 2020, it faces its eighth year of recession, due in part to endemic corruption. The economy of Equatorial Guinea was expected to grow about 26% in 2021, a projection that was based on the successful completion of a large gas project and the recovery of the world economy by the second half of the year. But the country is expected to return to recession in 2022, with a real GDP decline of about 4.4% In 2022, the country's Gini coefficient was 58.8.