The discovery and exploitation of large oil reserves have contributed to dramatic economic growth in recent years. Forestry, farming, and fishing are also major components of GDP. Subsistence farming predominates. Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the deterioration of the rural economy under successive brutal regimes has diminished potential for agriculture-led growth. A number of aid programs sponsored by the World Bank and the IMF have been cut off since 1993 because of the government's gross corruption and mismanagement. Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. The country responded favorably to the devaluation of the CFA franc in January 1994. Boosts in production and high world oil prices stimulated growth in 2000, with oil accounting for 90% of greatly increased exports.
Industry:
petroleum, fishing, sawmilling, natural gas
Ethnicgroups:
Bioko (primarily Bubi, some Fernandinos), Rio Muni (primarily Fang), Europeans less than 1,000, mostly Spanish
Yellow fever:
A yellow fever vaccination certificate is required from travellers coming from infected areas.
Malaria:
Malaria risk—predominantly due to P. falciparum—exists throughout the year in the whole country. Resistance to chloroquine and sulfadoxine–pyrimethamine reported.
