General Information
Growing exporter driven by the development of hydrocarbons (53%), as well as the chemical industry at 28%.
(Source: Central Statistical Office, Trademap)
Gross Domestic Product (GDP) | % of regional GDP | GDP per head |
USD 23,475millions |
0.4%
|
USD 16,768
|
Economic Statistics (years 2016 - forecast 2021)
National Accounts | 2016 | 2017 | 2018 | 2019 | f.2020 | f.2021 |
GDP growth (%) | -6.3% | -2.3% | 1.9% | 1.9% | -6.5% | 2.6% |
Nominal GDP (USD millions) | 22,304 | 22,079 | 22,757 | 23,475 | 22,126 | 22,813 |
GDP per Head (USD) | 15,931 | 15,771 | 16,255 | 16,768 | 17,233 | 17,866 |
Inflation (%) | 3.1% | 1.4% | 1.0% | 0.4% | 2.3% | 1.8% |
Fiscal Balance (% GDP) | -5.3% | -9.1% | -3.5% | -2.6% | -10.9% | -7.6% |
General Govt. gross debt (% GDP) | 58.8% | 64.0% | 65.7% | 66.4% | 67.0% | 65.9% |
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Trade Statistics
Foreign Trade - Composition | |||||
Exports | Imports | ||||
By countries | By countries | ||||
US | 34.8% | US | 23.8% | ||
Argentina | 9.0% | Russia | 15.3% | ||
Taiwan | 4.3% | Colombia | 11.1% | ||
Chile | 3.6% | Gabon | 10.5% | ||
By products | By products | ||||
Fuels and mining prod. | 70.7% | Manufactures | 51.3% | ||
Manufactures | 26.5% | Fuels and mining prod. | 37.2% | ||
Agricultural products | 2.7% | Agricultural products | 11.3% |
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Balance of Payments (USD millions) | 2016 | 2017 | 2018 | 2019 | f.2020 | f.2021 |
Exports of Goods | 8,304 | 9,446 | 10,520 | 10,781 | 8,882 | 9,609 |
Exports growth (%) | -27.2% | 13.8% | 11.4% | 2.5% | -17.6% | 8.2% |
Imports of Goods | 7,089 | 6,452 | 6,668 | 6,442 | 5,451 | 6,119 |
Imports growth (%) | -5.9% | -9.0% | 3.3% | -3.4% | -15.4% | 12.3% |
Foreign Trade (% GDP) | 69% | 72% | 76% | 73% | 73% | 76% |
Current Account Balance | -980 | 1,207 | 1,337 | 1,663 | 1,991 | 2,065 |
% GDP | -4.4% | 5.5% | 5.9% | 7.1% | 8.3% | 8.3% |
Foreign Direct Investment | -24 | -457 | -603 | 850 | 750 | 850 |
% GDP | -0.1% | -2.1% | -2.6% | 3.6% | 3.1% | 3.4% |
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