The economy of Equatorial Guinea has benefited from the discovery of large oil reserves in 1996 and its subsequent exploitation. Forestry, farming, and fishing are also major components of GDP. Subsistence farming predominates. The deterioration of the rural economy under successive brutal regimes has diminished any potential for agriculture-led growth.
Malabo is the capital of Equatorial Guinea. Despite its status as the capital of Equatorial Guinea for several decades, Malabo's street network remains poorly developed. Malabo itself has few paved roads leading into it, and fewer than one hundred paved and developed streets.
Malabo has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.
The latest cost of living rank for each of the 13 Basket Groups is now available.