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Equatorial Guinea Information

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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. Population 650,702 (July 2010 est.) Government type 7 provinces (provincias, singular - provincia); Annobon, Bioko Norte, Bioko Sur, Centro Sur, Kie-Ntem, Litoral, Wele-Nzas Administrative divisions republic Independence Independence Day, 12 October (1968) International organization participation 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 Economy - overview Market value of publicly traded shares petroleum, fishing, sawmilling, natural gas Agriculture - products 5.6% (2009 est.) Industries 28 million kWh (2007 est.) Industrial production growth rate 26.04 million kWh (2007 est.) Electricity - production 0 kWh (2008 est.) Oil - production 362,900 bbl/day (2007 est.) Internet country code 12,000 (2008)