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World Travel Guide > Guides > Africa > Equatorial Guinea

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Equatorial Guinea: Doing business and staying in touch

Doing Business in Equatorial Guinea

Business tends to be conducted in Spanish; few speak English or French.

Economy

During the 1990s, the development of the country's oil and gas reserves (which now account for about a quarter of GDP) produced spectacular economic growth (up to 20% annually) that has persisted at a steady rate. Equatorial Guinea has also confirmed deposits of gold, uranium, iron ore, tantalum and manganese.

Intervention by the IMF in the mid 1990s has led to restructuring of the public and financial sectors. A long legacy of maladministration, corruption (the country's largest companies are still largely owned by members of the ruling family) and the lack of even the most basic services has hampered development.

GDP

US$10.4 billion (2007).

Main exports

Petroleum, methanol, timber, coffee, cocoa, bananas and spices.

Main imports

Petroleum sector equipment and other equipment.

Main trading partners

Cameroon, Canada, China and Côte d'Ivoire.

Keeping in Touch in Equatorial Guinea

Telephone

Operator assistance may be required when making international calls from the country.

Mobile Phone

Roaming agreements exist with a few international mobile phone companies. Coverage is limited to Malabo and a few other inhabited areas.

Internet

Internet is available in limited areas; coverage is variable.

Media

The main broadcasters are state controlled. There are a few private newspapers and underground pamphlets that publish irregularly. Mild criticism of public institutions is allowed but criticism of the leadership is not tolerated and self-censorship is widespread.

Post

Service to Western Europe takes up to two weeks.