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1 2010 International Monetary Fund April 2010 IMF Country Report No. 10/102 Republic of Equatorial Guinea: Statistical Appendix This Statistical Appendix for the Republic of Equatorial Guinea was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on April 8, The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of the Republic of Equatorial Guinea or the Executive Board of the IMF. The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information. Copies of this report are available to the public from International Monetary Fund Publication Services th Street, N.W. Washington, D.C Telephone: (202) Telefax: (202) publications@imf.org Internet: International Monetary Fund Washington, D.C.

2 INTERNATIONAL MONETARY FUND REPUBLIC OF EQUATORIAL GUINEA Statistical Appendix Prepared by the staff team comprised of Carol Baker (Head), Dimitre Milkov, and Marcos Poplawski Ribeiro Approved by Domenico Fanizza and Dhaneshwar Ghura April 8, 2010 CONTENTS PAGE TABLES 1. GDP by Sector of Origin, GDP by Sector of Origin, GDP by Sector of Origin, GDP by Use of Resources, Consumer Price Index, Consumer Price Inflation, Summary of Central Government Financial Operations, Detailed Central Government Revenue, Fiscal Indicators, Public Investment Program, (execution) Monetary Survey, Central Bank and Commercial Banks, Balance of Payments, Scheduled External Public Debt Service, External Medium- and Long-Term Outstanding Public Debt, Exchange Rates,

3 2 Table 1. Equatorial Guinea: GDP by Sector of Origin, Est. (Billions of current CFA francs) Primary sector 2, , , , , ,575.5 Non-oil Agriculture Forestry Fishing Oil 2, , , , , ,393.8 Secondary sector , , ,889.3 Manufacturing , Oil derivatives , Other manufacturing Electricity Construction ,060.1 Tertiary sector Trade and commerce Transport and communications Finance and housing Public administration Other services GDP at factor costs 2, , , , , ,705.3 Of which: non-oil GDP , , , ,311.5 Import duties and subsidies GDP at market prices 2, , , , , ,771.2 Of which: non-oil GDP , , , ,377.3 (Annual percentage change) Primary sector Non-oil primary sector Agriculture Forestry Fishing Oil sector Secondary sector Manufacturing Oil derivatives Other manufacturing Electricity Construction Tertiary sector Trade and commerce Transport and communications Finance and housing Public administration Other services GDP at factor costs Of which : non-oil GDP Import duties and subsidies GDP at market prices Of which: non-oil GDP

4 3 Table 2. Equatorial Guinea: GDP by Sector of Origin, (Percent of GDP, based on nominal magnitudes) Est. Primary sector Non-oil Agriculture Forestry Fishing Oil Secondary sector Manufacturing Oil derivatives Other manufacturing Electricity Construction Tertiary sector Trade and commerce Transport and communications Finance and housing Public administration Other services Import duties and subsidies GDP at market prices Of which : non-oil GDP

5 4 Table 3. Equatorial Guinea: GDP by Sector of Origin, Est. (Billions of CFA francs in 2000 prices) Primary sector 2, , , , , ,588.7 Non-oil Agriculture Forestry Fishing Oil 2, , , , , ,467.1 Secondary sector , ,511.0 Manufacturing Oil derivatives Other manufacturing Electricity Construction Tertiary sector Trade and commerce Transport and communications Finance and housing Public administration Other services GDP at factor costs 2, , , , , ,248.4 Of which : non-oil GDP , , ,781.3 Import duties and subsidies GDP at market prices 2, , , , , ,273.0 Of which : non-oil GDP , , ,805.8 (Annual percentage change in constant prices) Primary sector Non-oil Agriculture Forestry Fishing Oil Secondary sector Manufacturing Oil derivatives Other manufacturing Electricity Construction Tertiary sector Trade and commerce Transport and communications Finance and housing Public administration Other services GDP at factor costs Of which : non-oil GDP Import duties and subsidies GDP at market prices Of whic h: non-oil GDP

6 5 Table 4. Equatorial Guinea: GDP by Use of Resources, Est. (Billions of CFA francs) Domestic demand 1, , , , Resource balance , , , Exports of goods and nonfactor services 2, , , , Imports of goods and nonfactor services -1, , , , Gross domestic product 2, , , , Net factor income from abroad -1, , , , Public Private -1, , , , Gross national product 1, , , , Unrequited transfers Private Public Gross disposable income 1, , , , Consumption Public Private National savings , , , Gross capital formation 1, , , , Public , Private , Oil , Non-oil Change in Inventories External current account (Percent of GDP) Domestic demand Resource balance Net factor income from abroad Unrequited transfers Gross disposable income Consumption Public Private National savings Gross fixed capital formation Public Private External current account

7 6 Table 5. Equatorial Guinea: Consumer Price Index, Index (2000=100) Weight (percent) Dec. Dec. Dec. Dec. Dec. Dec. Est. Food, beverages and tobacco Clothing Housing, water and electricity Furniture and other equipment Health Transport Leisure Education Hotels and restaurants Other goods and services General index Source: Equatoguinean authorities. 1 Data for 2009 not currently available. In January 2009, the authorities increased the sample to six cities, initiated a change in methodology and changed the base year. Methodological refinements are underway, and a consistent time series is being developed.

8 7 Table 6. Equatorial Guinea: Consumer Price Inflation, (12-month percent change) January February March April May June July August September October November December (Annual percentage change) Average Source: Equatoguinean authorities; and IMF staff estimates.

9 8 Table 7. Equatorial Guinea: Summary of Central Government Financial Operations, (Billions of CFA francs) Est. Total revenue and grants , , , , ,368.1 Revenue , , , , ,368.1 Tax revenue Taxes on income, profits, and capital gains Personal income tax Corporate income tax Other income taxes Domestic taxes on goods and services Taxes on international trade and transactions Other taxes Nontax revenue , , , , ,462.4 Hydrocarbons sector , , , , ,392.0 Non-hydrocarbons sector Interest on saving funds Grants Total expenditure and net lending , , ,827.5 Current expenditure Wages and salaries Goods and services Interest payments Domestic Foreign Transfers and subsidies Transfers Subsidies Other current expenditure Capital expenditure , ,482.3 Net lending Domestic arrears payments Overall balance , , , Total financing , , , Foreign financing (net) Loans Amortization (-) Exceptional financing Domestic financing (net) Change in government deposits outside of BEAC (-increase) Other Domestic Financing Monetary sector Of which : deposits at BEAC Nonmonetary sector Net acquisition of non-financial assets , Errors and omissions/financing gap Memorandum items: Overall balance, excluding grants , , , as percent of GDP Non oil primary balance, excluding grants , ,425.1 as percent of non-oil GDP Government Savings , , , , ,335.8 as percent of GDP Nominal GDP 2, , , , , ,771.2 Nominal Non-oil GDP , , , , Includes reimbursements to depositors related to the crash of the banking system during the early eighties 2 Equal to the overall balance excluding grants minus hydrocarbons sector corporate income tax and non-tax revenue plus hydrocarbons revenue generated in the secondary LNG, LPG and methanol production and purchase of share in hydrocarbons projects, minus interest on saving funds plus interest expenditure.

10 9 Table 8. Equatorial Guinea: Detailed Central Government Revenue, (Billions of CFA francs) Total revenue and grants , , , , ,368.1 Revenue , , , , ,368.1 Tax revenue Taxes on income, profits, and capital gains Personal income tax Hydrocarbons sector Non-hydrocarbons sector Corporate income tax Hydrocarbons sector Contractors Sub-contractors Non-hydrocarbons sector Other income taxes Domestic taxes on goods and services Value added tax Petroleum taxes Other domestic taxes on goods and services Taxes on international trade and transactions Import tariffs Export taxes Other taxes Nontax revenue , , , , ,462.4 Hydrocarbons sector , , , , ,392.0 Royalties , , ,095.2 Profit sharing Primary oil and gas production Secondary LNG, LPG, and methanol production Bonuses and rents Non-hydrocarbons sector Nontax revenue excl. interest on saving funds Interest on saving funds Grants The VAT was legislated in early 2005; previously this was a sales tax.

11 10 Table 9. Equatorial Guinea: Fiscal Indicators, (Billions of CFA francs) Total revenue 824 1,504 2,047 2,309 3,052 2,368 Oil revenue 707 1,330 1,741 1,903 2,633 1,952 Non-oil revenue (incl. oil derivatives) Total expenditure and net lending ,152 1,783 2,828 Current expenditure Wages and salaries Goods and services Subsidies and transfers Scheduled interest Capital expenditure ,392 2,482 Overall balance, excluding grants ,177 1,156 1, Non oil primary balance, excluding grants ,412-2,425 (Annual percentage change) Total revenue Oil revenue Non-oil revenue (incl. oil derivatives) Total expenditure and net lending Current expenditure Wages and salaries Goods and services Subsidies and transfers Scheduled interest Capital expenditure Overall balance, excluding grants Non oil primary balance, excluding grants Total revenue Oil revenue Non-oil revenue (incl. oil derivatives) (Percent of total expenditure) Total expenditure and net lending Current expenditure Wages and salaries Goods and services Subsidies and transfers Scheduled interest Capital expenditure (Percent of GDP) Total revenue Oil revenue Non-oil revenue (incl. oil derivatives) Total expenditure and net lending Current expenditure Wages and salaries Goods and services Subsidies and transfers Scheduled interest Capital expenditure Overall balance, excluding grants (Percent of non-oil GDP) Non-oil revenue (incl. oil derivatives) Non oil primary balance, excluding grants (Percent of total revenue)

12 11 Table 10. Equatorial Guinea: Public Investment Program Expenditure by sector (Millions of CFA francs) Social 65,346 71,410 88, , , ,271 Infrastructure 225, , , , , ,573 Productive 7,261 64, , , , ,134 Public administration 65, , , , , ,280 Total 363, , ,837 1,018,846 1,391,510 2,482,257 Expenditure by sector (Millions of U.S. dollars) Social Infrastructure , ,838.7 Productive ,386.3 Public administration ,293.4 Total , , , ,260.8 Expenditure by sector (Percent of total capital expenditure) Social Infrastructure Productive Public administration Total

13 12 Table 11. Equatorial Guinea: Monetary Survey, (Billions of CFA francs, unless otherwise specified; end of period) Dec. Dec. Dec. Dec. Dec. Oct. 1 Monetary survey Net foreign assets , , , , ,660.7 (millions of U.S. dollars) 1, , , , , ,747.0 Net domestic assets , , , Domestic credit , , , Claims on government (net) , , , , ,101.3 Claims on non-government Other items (net) Broad money (M2) Currency Deposits Memorandum items: CPI inflation (average annual) Broad money (M2) Reserve money (RM) Credit to the private sector Credit to the private sector (percent of non-oil GDP, excluding oil derivatives) Broad money (percent of overall GDP) Velocity (overall GDP/end-of-period M2) Velocity (non-oil GDP excluding oil derivatives/end-of-period M2) Reserve money multiplier (M2/RM) Currency/M2 ratio Lending rate Deposit rate Sources: BEAC; and IMF staff estimates. Year to date for percentage change and ratios. Lending rates are not regulated by BEAC, beginning July 2008.

14 13 Table 12. Equatorial Guinea: Central Bank and Commercial Banks, (Billions of CFA francs, unless otherwise specified; end of period) Dec. Dec. Dec. Dec. Dec. Oct. Central Bank Net foreign assets , , , , ,590.6 (millions of U.S. dollars) , , , , ,588.7 Net domestic assets , , , Claims on government (net) , , , Claims on commercial banks (net) Claims on rest of the economy Other items (net) Reserve money Currency outside banks Bank reserves Cash Deposits Nonbank deposits Deposit money banks Net foreign assets (millions of U.S. dollars) Net domestic assets Reserves Cash Deposits with central bank Required reserves Excess reserves Domestic credit Claims on central bank (net) Claims on government (net) Claims Deposits Claims on non-government Public enterprises Private sector Other items (net) Deposit liabilities to nonbank residents

15 14 Table 13. Equatorial Guinea: Balance of Payments, (Millions of U.S. dollars, unless otherwise specified) Est. Current account -1, Trade balance 3, , , , Exports of goods, f.o.b. 4, , , , Hydrocarbons exports 4, , , , Crude oil 4, , , , Derivatives , , ,774.2 Other Imports of goods, f.o.b. -1, , , , Petroleum sector , Petroleum products Public sector equipment , , Other Services -1, , , , Income (net) 3-2, , , , Current transfers Capital and Financial account 1, , Capital account Financial account 1, , Direct investment (net) 1, , , , Portfolio investment (net) Other investment (net) , , Medium- and long-term transactions General government Of which: Disbursements Amortization Other sectors Short-term transactions , , General government , , Banks Other sectors , Errors and omissions Overall balance , ,467.2 Financing , ,467.2 Change in net international reserves 5 (increase -) , ,467.2 Exceptional financing Change in arrears (net; decrease -) Memorandum items: Gross official foreign assets (USD million) 1, , , , , ,463.5 Reserve assets of the government at the BEAC , , , , ,146.4 Government bank deposits abroad , , , ,317.1 Gross Government Savings 1, , , , , ,430.4 Gross official reserves of BEAC (millions of U.S. dollars) 3, , , , , ,215.6 Gross official reserves of BEAC (months of next year's imports ) Current account balance (in percent of GDP; deficit -) Growth of hydrocarbons exports (in percent) Growth of non-oil exports (in percent) Growth of other imports Sources: Equatoguinean authorities; and IMF staff estimates and projections. 1 The BOP data presented in this table is not compiled in accordance with the IMF's Balance of Payments Manual, fifth edition. The data is derived from customs' and bank records' data, but from estimates by the national office of statistics. 2 Including private sector consumption and investment imports. 3 Including investment income of oil companies. The latter includes reinvested earnings (with an offsetting entry in foreign direct investment). 4 Since 2000, entries represent changes in government deposits in commercial banks abroad. For example, for 2009 it reflects the moving of government deposits out of BEAC into government deposits abroad. 5 Consists only of items on the balance sheet of the national office of the BEAC (i.e., excluding government bank deposits abroad).

16 15 Table 14. Equatorial Guinea: Scheduled External Public Debt Service, (Millions of U.S. dollars, unless otherwise indicated) Multilateral creditors Principal Interest Bilateral creditors Principal Interest Paris Club creditors Principal Interest Other bilateral creditors Principal Interest Total Principal Interest Memorandum items: Debt-service ratio In percent of exports of goods and nonfactor services In percent of government revenue

17 16 Table 15. Equatorial Guinea: External Medium- and Long-Term Outstanding Public Debt, (Millions of U.S. dollars, unless otherwise indicated) Est. Total outstanding debt Multilateral debt African Development Bank/African Development Fund IDA IMF Other Bilateral debt Commercial banks and suppliers' credits Memorandum items: Paris Club creditors Non-Paris Club creditors China

18 17 Table 16. Equatorial Guinea: Exchange Rates, Nominal Effective Exchange Rate Real Effective Exchange Rate CFA franc per U.S. dollar CFA franc per SDR Index 1 Annual Index 1 Annual Period End of Period End of percentage percentage average period average period change change Annual Sources: IMF, International Finance Statistics; IMF, Information Notice System = 100.

International Monetary Fund Washington, D.C.

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