Exports were estimated at $461 million in 1998, while imports came to $434 million. Leading exports for 1996 were petroleum (50%), timber (13%), cocoa (3%), and coffee (1%). Imports consisted primarily of machinery (77%), building material (7.1%), food and beverages (3.6%), and petroleum products (1.9%). Spain, the US and China are Equatorial Guinea's principal export markets.
Principal trading partners in 1998 (in millions of US dollars) were as follows:
COUNTRY | EXPORTS | IMPORTS | BALANCE |
Spain | 160 | 32 | 128 |
United States | 67 | 95 | -28 |
China (inc. Hong Kong) | 65 | 4 | 61 |
France | 35 | 41 | -6 |
Japan | 33 | 4 | 29 |
Cameroon | 31 | 27 | 4 |
United Kingdom | 12 | 17 | -5 |
Netherlands | 4 | 15 | -11 |
Italy | 1 | 7 | -6 |
Norway | n.a. | 16 | n.a. |
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