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: plantains, cassava, sugarcane, yams, taro, vegetables, maize, groundnuts, game meat, rubber (2022).
More about the economy of Gabon
| Labor force | 763,000 (2023 est.) |
|---|---|
| Industrial production growth rate | 3.5% (2023 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 | 9.13% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - |
| 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.) |
| Exchange rates 2019 | 585.911 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $6.06 billion (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2019 | $1.372 billion (2019 est.) |
| Reserves of foreign exchange and gold 2018 | $1.321 billion (2018 est.) |
| Reserves of foreign exchange and gold 2017 | $965.054 million (2017 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 2017 | 62.7% of GDP (2017 est.) |
| Budget | |
| Revenues | $2.939 billion (2021 est.) |
| Expenditures | $2.732 billion (2021 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.09% of GDP (2023 est.) |
| Remittances 2022 | 0.09% of GDP (2022 est.) |
| Remittances 2021 | 0.09% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2.2% (2017 est.) |
| Highest 10% | 27.7% (2017 est.) |
| Imports | |
| Imports 2022 | $3.499 billion (2022 est.) |
| Imports 2021 | $3.353 billion (2021 est.) |
| Imports 2020 | $3.454 billion (2020 est.) |
| Imports (partners) | China 22%, France 21%, UAE 5%, US 5%, Belgium 4% (2022) |
| Comodities Imports force | poultry, plastic products, iron pipes, fish, excavation machinery (2022) |
| Exports | |
| Imports 2022 | $3.499 billion (2022 est.) |
| Imports 2021 | $3.353 billion (2021 est.) |
| Imports 2020 | $3.454 billion (2020 est.) |
| Exports (partners) | China 43%, South Korea 8%, Italy 7%, India 7%, Indonesia 5% (2022) |
| Comodities Exports force | crude petroleum, manganese ore, wood, veneer sheets, refined petroleum (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $48.201 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $47.134 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $45.776 billion (2021 est.) |
| GDP (official exchange rate) | $20.516 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $19,800 (2023 est.) |
| Real GDP per capita 2022 | $19,700 (2022 est.) |
| Real GDP per capita 2021 | $19,600 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 5.8% (2023 est.) |
| Industry | 52.9% (2023 est.) |
| Services | 36.4% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 32.3% (2023 est.) |
| Government consumption | 11.6% (2023 est.) |
| Investment in fixed capital | 17.1% (2023 est.) |
| Exports of goods and services | 56.7% (2023 est.) |
| Imports of goods and services | -17.4% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 20.36% (2023 est.) |
| Unemployment rate 2022 | 20.5% (2022 est.) |
| Unemployment rate 2021 | 21.23% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 36.5% (2023 est.) |
| Male | 31.7% (2023 est.) |
| Female | 42.9% (2023 est.) |
All Important Facts about Gabon
Want to know more about Gabon? Check all different factbooks for Gabon below.
