What is actively worn by your character. (see a visual of the page here.)
This is the Equipped area. To reach it go here or here

The Equipped area shows you what you are actually wearing. This would include armor pieces and a weapon in your hand. (If you are wearing anything)

Whenever you "use" a weapon or armor in your inventory, it will automatically be placed in this area and not listed in your inventory.

Note: Many people think that the item is gone once they use it initially, only to find it equipped.

You will also see the ammo, weapon power, damage rating, weapon skill, and your blood, and adrenaline stats in this area.

Tip: Every time you try to equip another weapon when already holding a weapon, it will reset the attack timer.

See Also:
Equipped Ragdoll
repair kits
damage upgrade
armor repair
Attack Timer