We’re continuing a fascinating project across sub-Saharan Africa on science and medical research. In reviewing the report from our researcher in Equatorial Guinea, I was amazed to discover that Equatorial Guinea has the highest per capita GDP of any country in Africa.
Population estimates for Equatorial Guinea vary considerably from 700,000 (the CIA World Factbook) to 736,000 (The World Bank – 2012) to a government estimate of 1.62 million. Per capita GDP figures also, of course, but using the PPP method, the World Bank puts it at about US$30,000. However, high wealth disparities mean that there is still substantial poverty in the country — the World Bank estimates that 77 percent of the population lives below the poverty level.
Equatorial Guinea is the third largest producer of crude oil in sub-Saharan Africa with 400,000 a 600,000 barrels/day and is a liquid natural gas producer too. Several major US multinationals operate in the country.