Current Account Balance: Equatorial Guinea

Analysis# Equatorial Guinea Current Account Balance Equatorial Guinea's current account balance stands at -3.8% of GDP in 2026, a stark reversal from its all-time peak of 16.7% in 2007. The country has experienced a catastrophic 122.8% decline over nearly two decades, with the deepest deficit reaching -26% of GDP in 2016. From 2007 through the mid-2010s, collapsing oil prices and production volatility pushed the nation into persistent deficits, eroding the substantial surpluses accumulated during the commodity boom. A significant recovery emerged between 2021 and 2022, when the current account swung to surpluses of 5.7% and 6.6% respectively, driven by rising oil revenues. However, this improvement proved temporary. The account balance has returned to deficit territory since 2023, settling into the -3% to -3.8% range through 2026. The recent plateau suggests structural challenges persist despite commodity price fluctuations, indicating ongoing external imbalances in the country's economy.