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 23,475

millions

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%
   

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%
   
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%
   

 

Disclaimer

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