Economy of Gabon

Economy of Gabon
Libreville is the capital and financial center of Gabon
Currency1 Central African CFA franc (XAF) = 100 centimes
calendar year
Trade organisations
AU, AfCFTA, WTO
Country group
Statistics
GDP
  • Increase $16.875 billion (nominal, 2018)[3]
  • Increase $37.840 billion (PPP, 2018)[3]
GDP growth
  • 2.1% (2016) 0.5% (2017)
  • 0.8% (2018e) 2.8% (2019f)[4]
GDP per capita
  • Increase $9,420 (nominal, 2023 est.)[3]
  • Increase $19,834 (PPP, 2023 est.)[3]
GDP by sector
agriculture: 4.5%; industry: 62.7%; services: 32.8% (2010 est.)
4.777% (2018)[3]
Population below poverty line
  • Negative increase 33.4% (2017)[5]
  • Positive decrease 32.2% on less than $5.50/day (2017)[6]
Labour force
712,000 (2010 est.)
Labour force by occupation
agriculture: 60%; industry: 15%; services: 25% (2000 est.)
Unemployment27% (2012 est.)
Main industries
petroleum extraction and refining; manganese, gold; chemicals, ship repair, food and beverages, textiles, lumbering and plywood, cement
External
Exports$6.803 billion (2010 est.)
Export goods
crude oil 70%, timber, manganese, uranium
Main export partners
Imports$2.973 billion (2015 est.)
Import goods
machinery and equipment, foodstuffs, chemicals, construction materials
Main import partners
$2.374 billion (31 December 2010 est.)
Public finances
25.8% of GDP (2010 est.)
Revenues$4.057 billion (2015 est.)
Expenses$3.645 billion (2015 est.)
Economic aidrecipient: $331 million (1995)
$3.202 billion (31 December 2015 est.)
All values, unless otherwise stated, are in US dollars.

The economy of Gabon is characterized by strong links with France, large foreign investments, dependence on skilled foreign labor, and decline of agriculture.[10] Gabon on paper enjoys a per capita income four times that of most nations of Africa, but its reliance on resource extraction industry fail to release much of the population from extreme poverty, as much of 30% of the population lives under the poverty threshold (Many Foreign Guest Workers).

  1. ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
  3. ^ a b c d e "World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved 8 December 2019.
  4. ^ "Global Economic Prospects, June 2019: Heightened Tensions, Subdued Investment. p. 127" (PDF). openknowledge.worldbank.org. World Bank. Archived (PDF) from the original on 5 June 2019. Retrieved 8 December 2019.
  5. ^ "Poverty headcount ratio at national poverty lines (% of population) - Gabon | Data". data.worldbank.org. Retrieved 14 July 2020.
  6. ^ "Poverty headcount ratio at $5.50 a day (2011 PPP) (% of population) - Gabon | Data". data.worldbank.org. Retrieved 14 July 2020.
  7. ^ "Export Partners of Gabon". CIA World Factbook. 2019. Retrieved 30 August 2023.
  8. ^ "Import Partners of Gabon". CIA World Factbook. 2023. Retrieved 30 August 2023.
  9. ^ "Sovereigns rating list". Standard & Poor's. Retrieved 26 May 2011.
  10. ^ "Gabon". Encyclopaedia Britannica. Retrieved 29 October 2019.