Gabon - Economy
How is the economy of Gabon? Based on the information we have, Gabon has a natural-resource-rich, upper-middle-income, Central African economy; significant reliance on oil and mineral exports; highly urbanized population; high levels of poverty and unemployment; uncertainty on institutional and development reform progress following 2023 military coup. Key agricultural products in this country include: oil palm fruit, plantains, cassava, sugarcane, yams, taro, vegetables, maize, groundnuts, game meat (2023).
More about the economy of Gabon
| Labor force | 824,400 (2024 est.) |
|---|---|
| Industrial production growth rate | 2.8% (2024 est.) |
| Industries | petroleum extraction and refining; manganese, gold; chemicals, ship repair, food and beverages, textiles, lumbering and plywood, cement |
| Population below poverty line | 33.4% (2017 est.) |
| Taxes and other revenues | 9.5% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Coopération Financière en Afrique Centrale francs (XAF) per US dollar - |
| Exchange rates 2024 | 606.345 (2024 est.) |
| Exchange rates 2023 | 606.57 (2023 est.) |
| Exchange rates 2022 | 623.76 (2022 est.) |
| Exchange rates 2021 | 554.531 (2021 est.) |
| Exchange rates 2020 | 575.586 (2020 est.) |
| Debt - external | |
| Debt - external 2023 | $6.442 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $1.447 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $1.415 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $1.304 billion (2021 est.) |
| Current account balance | |
| Current account balance 2015 | $140.996 million (2015 est.) |
| Current account balance 2014 | $1.112 billion (2014 est.) |
| Current account balance 2013 | $1.463 billion (2013 est.) |
| Public debt | |
| Public debt 2016 | 64.2% of GDP (2016 est.) |
| Budget | |
| Revenues | $2.939 billion (2021 est.) |
| Expenditures | $3.226 billion (2021 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.1% of GDP (2023 est.) |
| Remittances 2022 | 0.1% of GDP (2022 est.) |
| Remittances 2021 | 0.1% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2.2% (2017 est.) |
| Highest 10% | 27.7% (2017 est.) |
| Imports | |
| Imports 2024 | $6.094 billion (2024 est.) |
| Imports 2023 | $5.38 billion (2023 est.) |
| Imports 2022 | $5.005 billion (2022 est.) |
| Imports (partners) | France 14%, China 13%, S. Korea 13%, USA 7%, India 4% (2023) |
| Comodities Imports force | ships, refined petroleum, iron pipes, cars, packaged medicine (2023) |
| Exports | |
| Imports 2024 | $6.094 billion (2024 est.) |
| Imports 2023 | $5.38 billion (2023 est.) |
| Imports 2022 | $5.005 billion (2022 est.) |
| Exports (partners) | China 26%, Indonesia 8%, Spain 7%, Israel 6%, Congo, Republic of the 5% (2023) |
| Comodities Exports force | crude petroleum, ships, manganese ore, refined petroleum, wood (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $48.045 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $46.472 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $45.363 billion (2022 est.) |
| GDP (official exchange rate) | $20.867 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $18,900 (2024 est.) |
| Real GDP per capita 2023 | $18,700 (2023 est.) |
| Real GDP per capita 2022 | $18,700 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 6.2% (2024 est.) |
| Industry | 50.9% (2024 est.) |
| Services | 37.5% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 33.7% (2024 est.) |
| Government consumption | 12.2% (2024 est.) |
| Investment in fixed capital | 18.1% (2024 est.) |
| Investment in inventories | 0% (2024 est.) |
| Exports of goods and services | 65.3% (2024 est.) |
| Imports of goods and services | -29.2% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 20.1% (2024 est.) |
| Unemployment rate 2023 | 20.3% (2023 est.) |
| Unemployment rate 2022 | 20.4% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 36% (2024 est.) |
| Male | 31.1% (2024 est.) |
| Female | 42.3% (2024 est.) |
All Important Facts about Gabon
Want to know more about Gabon? Check all different factbooks for Gabon below.
