Part 69
Economy ::El Salvador
Economy - overview:
Despite being the smallest country geographically in Central America, El Salvador has the third largest economy in the region. The economy took a hit from the global recession and real GDP contracted by 3.5% in 2009. The economy began a slow recovery in 2010 on the back of improved export and remittances figures. Remittances accounted for 16% of GDP in 2009, and about a third of all households receive these transfers. In 2006 El Salvador was the first country to ratify the Dominican Republic-Central American Free Trade Agreement (CAFTA-DR), which has bolstered the export of processed foods, sugar, and ethanol, and supported investment in the apparel sector amid increased Asian competition and the expiration of the Multi-Fiber Agreement in 2005. El Salvador has promoted an open trade and investment environment, and has embarked on a wave of privatizations extending to telecom, electricity distribution, banking, and pension funds. In late 2006, the government and the Millennium Challenge Corporation signed a five-year, $461 million compact to stimulate economic growth and reduce poverty in the country's northern region, the primary conflict zone during the civil war, through investments in education, public services, enterprise development, and transportation infrastructure. With the adoption of the US dollar as its currency in 2001, El Salvador lost control over monetary policy. Any counter-cyclical policy response to the downturn must be through fiscal policy, which is constrained by legislative requirements for a two-thirds majority to approve any international financing.
GDP (purchasing power parity):
$43.98 billion (2010 est.) country comparison to the world: 94 $43.46 billion (2009 est.)
$45.04 billion (2008 est.)
note: data are in 2010 US dollars
GDP (official exchange rate):
$21.8 billion (2010 est.)
GDP - real growth rate:
1.2% (2010 est.) country comparison to the world: 174 -3.5% (2009 est.)
2.4% (2008 est.)
GDP - per capita (PPP):
$7,300 (2010 est.) country comparison to the world: 129 $7,200 (2009 est.)
$7,500 (2008 est.)
note: data are in 2010 US dollars
GDP - composition by sector:
agriculture: 11%
industry: 29.1%
services: 59.9% (2010 est.)
Labor force:
2.94 million (2010 est.) country comparison to the world: 104
Labor force - by occupation:
agriculture: 19%
industry: 23%
services: 58% (2006 est.)
Unemployment rate:
7% (2010 est.) country comparison to the world: 72 7.2% (2009 est.)
note: data are official rates; but the economy has much underemployment
Population below poverty line:
30.7% (2006 est.)
Household income or consumption by percentage share:
lowest 10%: 1%
highest 10%: 37% (2005)
Distribution of family income - Gini index:
52.4 (2002) country comparison to the world: 18 52.5 (2001)
Investment (gross fixed):
13.7% of GDP (2010 est.) country comparison to the world: 140
Public debt:
55% of GDP (2010 est.) country comparison to the world: 45 52.3% of GDP (2009 est.)
Inflation rate (consumer prices):
0.8% (2010 est.) country comparison to the world: 16 -0.2% (2009)
Commercial bank prime lending rate:
12.33% (31 December 2008) country comparison to the world: 120 7.81% (31 December 2007)
Stock of narrow money:
$2.534 billion (31 December 2010 est) country comparison to the world: 117 $2.153 billion (31 December 2009 est)
Stock of broad money:
$9.666 billion (31 December 2010 est.) country comparison to the world: 101 $9.011 billion (31 December 2009 est.)
Stock of domestic credit:
$10.01 billion (31 December 2010 est.) country comparison to the world: 95 $9.867 billion (31 December 2009 est.)
Market value of publicly traded shares:
$4.432 billion (31 December 2009) country comparison to the world: 82 $4.656 billion (31 December 2008)
$6.743 billion (31 December 2007)
Agriculture - products:
coffee, sugar, corn, rice, beans, oilseed, cotton, sorghum; beef, dairy products
Industries:
food processing, beverages, petroleum, chemicals, fertilizer, textiles, furniture, light metals
Industrial production growth rate:
0.9% (2010 est.) country comparison to the world: 149
Electricity - production:
5.559 billion kWh (2007 est.) country comparison to the world: 110
Electricity - consumption:
4.676 billion kWh (2007 est.) country comparison to the world: 111
Electricity - exports:
7 million kWh (2007 est.)
Electricity - imports:
38 million kWh (2007 est.)
Oil - production:
0 bbl/day (2008 est.) country comparison to the world: 179
Oil - consumption:
46,000 bbl/day (2009 est.) country comparison to the world: 98
Oil - exports:
1,927 bbl/day (2007 est.) country comparison to the world: 114
Oil - imports:
46,310 bbl/day (2007 est.) country comparison to the world: 87
Oil - proved reserves:
0 bbl (1 January 2010 est.) country comparison to the world: 184
Natural gas - production:
0 cu m (2008 est.) country comparison to the world: 176
Natural gas - consumption:
0 cu m (2008 est.) country comparison to the world: 189
Natural gas - exports:
0 cu m (2008 est.) country comparison to the world: 62
Natural gas - imports:
0 cu m (2008 est.) country comparison to the world: 86
Natural gas - proved reserves:
0 cu m (1 January 2010 est.) country comparison to the world: 184
Current account balance:
-$907 million (2010 est.) country comparison to the world: 132 -$374 million (2009)
Exports:
$4.377 billion (2010 est.) country comparison to the world: 113 $3.797 billion (2009)
Exports - commodities:
offshore assembly exports, coffee, sugar, textiles and apparel, gold, ethanol, chemicals, electricity, iron and steel manufactures
Exports - partners:
US 43.86%, Guatemala 13.92%, Honduras 13.22%, Nicaragua 5.65% (2009)
Imports:
$7.98 billion (2010 est.) country comparison to the world: 99 $7.255 billion (2009)
Imports - commodities:
raw materials, consumer goods, capital goods, fuels, foodstuffs, petroleum, electricity
Imports - partners:
US 29.79%, Mexico 10.26%, Guatemala 9.7%, China 4.5%, Honduras 4.4% (2009)
Reserves of foreign exchange and gold:
$2.819 billion (31 December 2010 est.) country comparison to the world: 86 $2.985 billion (31 December 2009)
Debt - external:
$11.45 billion (31 December 2010 est.) country comparison to the world: 87 $10.83 billion (31 December 2009 est.)
Stock of direct foreign investment - at home:
$7.522 billion (31 December 2010 est.) country comparison to the world: 82 $7.132 billion (31 December 2009 est.)
Stock of direct foreign investment - abroad:
$273 million (31 December 2010 est.) country comparison to the world: 77 $333 million (31 December 2009 est.)
Exchange rates:
the US dollar became El Salvador's currency in 2001
Communications ::El Salvador
Telephones - main lines in use:
1.099 million (2009) country comparison to the world: 75
Telephones - mobile cellular:
7.566 million (2009) country comparison to the world: 78
Telephone system:
general assessment: multiple mobile-cellular providers are expanding services rapidly and in 2009 teledensity exceeded 100 per 100 persons; growth in fixed-line services has slowed in the face of mobile-cellular competition
domestic: nationwide microwave radio relay system
international: country code - 503; satellite earth station - 1 Intelsat (Atlantic Ocean); connected to Central American Microwave System (2009)
Broadcast media:
multiple privately-owned national terrestrial television networks, supplemented by cable TV networks that carry international channels; hundreds of commercial radio broadcast stations and 1 government-owned radio broadcast station (2007)
Internet country code:
.sv
Internet hosts:
13,849 (2010) country comparison to the world: 119
Internet users:
746,000 (2009) country comparison to the world: 107
Transportation ::El Salvador
Airports:
65 (2010) country comparison to the world: 75
Airports - with paved runways:
total: 4
over 3,047 m: 1
1,524 to 2,437 m: 1
914 to 1,523 m: 2 (2010)
Airports - with unpaved runways:
total: 61
1,524 to 2,437 m: 1
914 to 1,523 m: 13
under 914 m: 47 (2010)
Heliports:
1 (2010)
Railways:
total: 283 km country comparison to the world: 122 narrow gauge: 283 km 0.914-m gauge
note: railways have been inoperable since 2005 because of disuse and high costs that led to a lack of maintenance (2008)
Roadways:
total: 10,886 km country comparison to the world: 134 paved: 2,827 km (includes 327 km of expressways)
unpaved: 8,059 km (2000)
Waterways:
Rio Lempa is partially navigable for small craft (2010)
Ports and terminals:
Acajutla, Puerto Cutuco
Military ::El Salvador
Military branches:
Salvadoran Army (ES), Salvadoran Navy (FNES), Salvadoran Air Force (Fuerza Aerea Salvadorena, FAS) (2008)
Military service age and obligation:
18 years of age for selective compulsory military service; 16-22 years of age for voluntary male or female service; service obligation - 12 months, with 11 months for officers and NCOs (2009)
Manpower available for military service:
males age 16-49: 1,426,142
females age 16-49: 1,590,778 (2010 est.)
Manpower fit for military service:
males age 16-49: 1,056,532
females age 16-49: 1,356,824 (2010 est.)
Manpower reaching militarily significant age annually:
male: 71,292
female: 68,821 (2010 est.)
Military expenditures:
0.6% of GDP (2009) country comparison to the world: 160
Transnational Issues ::El Salvador
Disputes - international:
International Court of Justice (ICJ) ruled on the delimitation of "bolsones" (disputed areas) along the El Salvador-Honduras boundary, in 1992, with final agreement by the parties in 2006 after an Organization of American States (OAS) survey and a further ICJ ruling in 2003; the 1992 ICJ ruling advised a tripartite resolution to a maritime boundary in the Gulf of Fonseca advocating Honduran access to the Pacific; El Salvador continues to claim tiny Conejo Island, not identified in the ICJ decision, off Honduras in the Gulf of Fonseca
Illicit drugs:
transshipment point for cocaine; small amounts of marijuana produced for local consumption; significant use of cocaine
page last updated on January 19, 2011
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@Equatorial Guinea (Africa)
Introduction ::Equatorial Guinea
Background:
Equatorial Guinea gained independence in 1968 after 190 years of Spanish rule. This tiny country, composed of a mainland portion plus five inhabited islands, is one of the smallest on the African continent. President Teodoro OBIANG NGUEMA MBASOGO has ruled the country since 1979 when he seized power in a coup. Although nominally a constitutional democracy since 1991, the 1996, 2002, and 2009 presidential elections - as well as the 1999 and 2004 legislative elections - were widely seen as flawed. The president exerts almost total control over the political system and has discouraged political opposition. Equatorial Guinea has experienced rapid economic growth due to the discovery of large offshore oil reserves, and in the last decade has become Sub-Saharan Africa's third largest oil exporter. Despite the country's economic windfall from oil production resulting in a massive increase in government revenue in recent years, there have been few improvements in the population's living standards.
Geography ::Equatorial Guinea
Location:
Western Africa, bordering the Bight of Biafra, between Cameroon and Gabon
Geographic coordinates:
2 00 N, 10 00 E
Map references:
Africa
Area:
total: 28,051 sq km country comparison to the world: 145 land: 28,051 sq km
water: 0 sq km
Area - comparative:
slightly smaller than Maryland
Land boundaries:
total: 539 km
border countries: Cameroon 189 km, Gabon 350 km
Coastline:
296 km
Maritime claims:
territorial sea: 12 nm
exclusive economic zone: 200 nm
Climate:
tropical; always hot, humid
Terrain:
coastal plains rise to interior hills; islands are volcanic
Elevation extremes:
lowest point: Atlantic Ocean 0 m
highest point: Pico Basile 3,008 m
Natural resources:
petroleum, natural gas, timber, gold, bauxite, diamonds, tantalum, sand and gravel, clay
Land use:
arable land: 4.63%
permanent crops: 3.57%
other: 91.8% (2005)
Irrigated land:
NA
Total renewable water resources:
26 cu km (2001)
Freshwater withdrawal (domestic/industrial/agricultural):
total: 0.11 cu km/yr (83%/16%/1%)
per capita: 220 cu m/yr (2000)
Natural hazards:
violent windstorms; flash floods
volcanism: Santa Isabel (elev. 3,007 m, 9,865 ft), which last erupted in 1923, is the country's only historically active volcano; Santa Isabel, along with two dormant volcanoes, forms Bioko Island in the Gulf of Guinea
Environment - current issues:
tap water is not potable; deforestation
Environment - international agreements:
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Wetlands
signed, but not ratified: none of the selected agreements
Geography - note:
insular and continental regions widely separated
People ::Equatorial Guinea
Population:
650,702 (July 2010 est.) country comparison to the world: 166
Age structure:
0-14 years: 41.9% (male 134,823/female 130,308)
15-64 years: 54% (male 167,820/female 174,238)
65 years and over: 4.1% (male 11,574/female 14,678) (2010 est.)
Median age:
total: 19 years
male: 18.4 years
female: 19.6 years (2010 est.)
Population growth rate:
2.674% (2010 est.) country comparison to the world: 24
Birth rate:
36 births/1,000 population (2010 est.) country comparison to the world: 30
Death rate:
9.26 deaths/1,000 population (July 2010 est.) country comparison to the world: 67
Net migration rate:
0 migrant(s)/1,000 population country comparison to the world: 74
Urbanization:
urban population: 39% of total population (2008)
rate of urbanization: 2.8% annual rate of change (2005-10 est.)
Sex ratio:
at birth: 1.03 male(s)/female
under 15 years: 1.03 male(s)/female
15-64 years: 0.97 male(s)/female
65 years and over: 0.78 male(s)/female
total population: 0.99 male(s)/female (2010 est.)
Infant mortality rate:
total: 79.47 deaths/1,000 live births country comparison to the world: 14 male: 80.55 deaths/1,000 live births
female: 78.36 deaths/1,000 live births (2010 est.)
Life expectancy at birth:
total population: 61.98 years country comparison to the world: 182 male: 61.05 years
female: 62.94 years (2010 est.)
Total fertility rate:
5 children born/woman (2010 est.) country comparison to the world: 22
HIV/AIDS - adult prevalence rate:
3.4% (2007 est.) country comparison to the world: 20
HIV/AIDS - people living with HIV/AIDS:
11,000 (2007 est.) country comparison to the world: 98
HIV/AIDS - deaths:
370 (2001 est.) country comparison to the world: 101
Major infectious diseases:
degree of risk: very high
food or waterborne diseases: bacterial and protozoal diarrhea, hepatitis A, and typhoid fever
vectorborne disease: malaria and yellow fever
animal contact disease: rabies (2009)
Nationality:
noun: Equatorial Guinean(s) or Equatoguinean(s)
adjective: Equatorial Guinean or Equatoguinean
Ethnic groups:
Fang 85.7%, Bubi 6.5%, Mdowe 3.6%, Annobon 1.6%, Bujeba 1.1%, other 1.4% (1994 census)
Religions:
nominally Christian and predominantly Roman Catholic, pagan practices
Languages:
Spanish 67.6% (official), other 32.4% (includes French (official), Fang, Bubi) (1994 census)
Literacy:
definition: age 15 and over can read and write
total population: 87%
male: 93.4%
female: 80.5% (2000 est.)
School life expectancy (primary to tertiary education):
total: 8 years
male: 9 years
female: 7 years (2000)
Education expenditures:
0.6% of GDP (2003) country comparison to the world: 185
Government ::Equatorial Guinea
Country name:
conventional long form: Republic of Equatorial Guinea
conventional short form: Equatorial Guinea
local long form: Republica de Guinea Ecuatorial/Republique de Guinee equatoriale
local short form: Guinea Ecuatorial/Guinee equatoriale
former: Spanish Guinea
Government type:
republic
Capital:
name: Malabo
geographic coordinates: 3 45 N, 8 47 E
time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time)
Administrative divisions:
7 provinces (provincias, singular - provincia); Annobon, Bioko Norte, Bioko Sur, Centro Sur, Kie-Ntem, Litoral, Wele-Nzas
Independence:
12 October 1968 (from Spain)
National holiday:
Independence Day, 12 October (1968)
Constitution:
approved by national referendum 17 November 1991; amended January 1995
Legal system:
partly based on Spanish civil law and tribal custom; has not accepted compulsory ICJ jurisdiction
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President Brig. Gen. (Ret.) Teodoro OBIANG NGUEMA MBASOGO (since 3 August 1979 when he seized power in a military coup)
head of government: Prime Minister Ignacio MILAM Tang (since 8 July 2008);
cabinet: Council of Ministers appointed by the president (For more information visit the World Leaders website ) elections: president elected by popular vote for a seven-year term (no term limits); election last held on 29 November 2009 (next to be held in 2016); prime minister and deputy prime ministers appointed by the president
election results: Teodoro OBIANG NGUEMA MBASOGO reelected president; percent of vote - Teodoro OBIANG NGUEMA MBASOGO 95.8%, Placido Mico ABOGO 3.6%; elections marred by widespread fraud
Legislative branch:
unicameral House of People's Representatives or Camara de Representantes del Pueblo (100 seats; members directly elected by popular vote to serve five-year terms)
elections: last held on 4 May 2008 (next to be held in 2012)
election results: percent of vote by party - NA; seats by party - PDGE 89, EC 10, CPDS 1
note: Parliament has little power since the constitution vests all executive authority in the president
Judicial branch:
Supreme Tribunal
Political parties and leaders:
Convergence Party for Social Democracy or CPDS [Placido MICO Abogo]; Democratic Party for Equatorial Guinea or PDGE [Teodoro OBIANG NGUEMA MBASOGO] (ruling party); Electoral Coalition or EC; Party for Progress of Equatorial Guinea or PPGE [Severo MOTO]; Popular Action of Equatorial Guinea or APGE [Avelino MOCACHE]; Popular Union or UP
Political pressure groups and leaders:
ASODEGUE (Madrid-based pressure group for democratic reform); Global Witness (anti-corruption)
International organization participation:
ACP, AfDB, AU, BDEAC, CEMAC, CPLP (associate), FAO, FZ, G-77, IBRD, ICAO, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, ITSO, ITU, MIGA, NAM, OAS (observer), OIF, OPCW, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WHO, WIPO, WTO (observer)
Diplomatic representation in the US:
chief of mission: Ambassador Purificacion ANGUE ONDO
chancery: 2020 16th Street NW, Washington, DC 20009
telephone: [1] (202) 518-5700
FAX: [1] (202) 518-5252
Diplomatic representation from the US:
chief of mission: Ambassador Alberto M. FERNANDEZ
embassy: K-3, Carreterade Aeropuerto, al lado de Restaurante El Paraiso, Malabo; note - relocated embassy is opened for limited functions; inquiries should continue to be directed to the US Embassy in Yaounde, Cameroon
mailing address: B.P. 817, Yaounde, Cameroon; US Embassy Yaounde, US Department of State, Washington, DC 20521-2520
telephone: [237] 2220-1500
FAX: [237] 2220-1572
Flag description:
three equal horizontal bands of green (top), white, and red, with a blue isosceles triangle based on the hoist side and the coat of arms centered in the white band; the coat of arms has six yellow six-pointed stars (representing the mainland and five offshore islands) above a gray shield bearing a silk-cotton tree and below which is a scroll with the motto UNIDAD, PAZ, JUSTICIA (Unity, Peace, Justice); green symbolizes the jungle and natural resources, blue represents the sea that connects the mainland to the islands, white stands for peace, and red recalls the fight for independence
National anthem:
name: "Caminemos pisando la senda" (Let Us Tread the Path)
lyrics/music: Atanasio Ndongo MIYONO/Atanasio Ndongo MIYONO or Ramiro Sanchez LOPEZ (disputed)
note: adopted 1968
Economy ::Equatorial Guinea
Economy - overview:
The discovery and exploitation of large oil reserves have contributed to dramatic economic growth but fluctuating oil prices have produced huge swings in GDP growth in recent years. Forestry, farming, and fishing are also major components of GDP. Subsistence farming is the dominate form of livelihood. Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the neglect of the rural economy under successive regimes has diminished potential for agriculture-led growth (the government has stated its intention to reinvest some oil revenue into agriculture). A number of aid programs sponsored by the World Bank and the IMF have been cut off since 1993 because of corruption and mismanagement. Government officials and their family members own most businesses, but corruption is rampant. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Growth remained strong in 2008, led by oil, but dropped in 2009-10, as the price of oil fell.
GDP (purchasing power parity):
$24.66 billion (2010 est.) country comparison to the world: 113 $24.18 billion (2009 est.)
$22.96 billion (2008 est.)
note: data are in 2010 US dollars
GDP (official exchange rate):
$14.55 billion (2010 est.)
GDP - real growth rate:
2% (2010 est.) country comparison to the world: 152 5.3% (2009 est.)
11.3% (2008 est.)
GDP - per capita (PPP):
$37,900 (2010 est.) country comparison to the world: 28 $38,200 (2009 est.)
$37,200 (2008 est.)
note: data are in 2010 US dollars
GDP - composition by sector:
agriculture: 2.2%
industry: 93.9%
services: 3.8% (2010 est.)
Labor force:
195,200 NA (2007) country comparison to the world: 170
Unemployment rate:
30% (1998 est.) country comparison to the world: 181
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Investment (gross fixed):
29.1% of GDP (2010 est.) country comparison to the world: 20
Public debt:
4.1% of GDP (2010 est.) country comparison to the world: 130 5.4% of GDP (2009 est.)
Inflation rate (consumer prices):
8.2% (2010 est.) country comparison to the world: 191 7.1% (2009 est.)
Central bank discount rate:
4.25% (31 December 2009) country comparison to the world: 100 4.75% (31 December 2008)
Commercial bank prime lending rate:
NA% (31 December 2009 est.)
NA% (31 December 2008 est.)
Stock of narrow money:
$1.86 billion (31 December 2010 est) country comparison to the world: 121 $1.295 billion (31 December 2009 est)
Stock of broad money:
$2.207 billion (31 December 2010 est.) country comparison to the world: 140 $1.473 billion (31 December 2009 est.)
Stock of domestic credit:
$1.534 billion (31 December 2009) country comparison to the world: 136 $3.579 billion (31 December 2008)
Agriculture - products:
coffee, cocoa, rice, yams, cassava (tapioca), bananas, palm oil nuts; livestock; timber
Industries:
petroleum, fishing, sawmilling, natural gas
Industrial production growth rate:
1.8% (2010 est.) country comparison to the world: 134
Electricity - production:
28 million kWh (2007 est.) country comparison to the world: 203
Electricity - consumption:
26.04 million kWh (2007 est.) country comparison to the world: 203
Electricity - exports:
0 kWh (2008 est.)
Electricity - imports:
0 kWh (2008 est.)
Oil - production:
346,000 bbl/day (2009 est.) country comparison to the world: 35
Oil - consumption:
1,000 bbl/day (2009 est.) country comparison to the world: 200
Oil - exports:
362,900 bbl/day (2007 est.) country comparison to the world: 35
Oil - imports: