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 | 740,000 (2022 est.) |
|---|---|
| Industrial production growth rate | 6.02% (2022 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 | 11.48% (of GDP) (2019 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - |
| 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.) |
| Exchange rates 2018 | 555.446 (2018 est.) |
| Debt - external | |
| Debt - external 31 December 2017 | $6.49 billion (31 December 2017 est.) |
| Debt - external 31 December 2016 | $5.321 billion (31 December 2016 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 2017 | -$725 million (2017 est.) |
| Current account balance 2016 | -$1.389 billion (2016 est.) |
| Current account balance 2015 | $140.996 million (2015 est.) |
| Public debt | |
| Public debt 2017 | 62.7% of GDP (2017 est.) |
| Public debt 2016 | 64.2% of GDP (2016 est.) |
| Budget | |
| Revenues | $3.296 billion (2019 est.) |
| Expenditures | $2.937 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | -1.9% (of GDP) (2017 est.) |
| Remittances | |
| Remittances 2022 | 0.09% of GDP (2022 est.) |
| Remittances 2021 | 0.09% of GDP (2021 est.) |
| Remittances 2020 | 0.12% of GDP (2020 est.) |
| Household income | |
| Lowest 10% | 2.2% |
| 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) 2022 | $33.302 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $32.361 billion (2021 est.) |
| Real GDP (purchasing power parity) 2020 | $31.874 billion (2020 est.) |
| GDP (official exchange rate) | $21.072 billion (2022 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2022 | $13,900 (2022 est.) |
| Real GDP per capita 2021 | $13,800 (2021 est.) |
| Real GDP per capita 2020 | $13,900 (2020 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 5% (2017 est.) |
| Industry | 44.7% (2017 est.) |
| Services | 50.4% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 37.6% (2017 est.) |
| Government consumption | 14.1% (2017 est.) |
| Investment in fixed capital | 29% (2017 est.) |
| Investment in inventories | -0.6% (2016 est.) |
| Exports of goods and services | 46.7% (2017 est.) |
| Imports of goods and services | -26.8% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2022 | 20.61% (2022 est.) |
| Unemployment rate 2021 | 21.41% (2021 est.) |
| Unemployment rate 2020 | 21.43% (2020 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 38.4% (2021 est.) |
| Male | 33.7% |
| Female | 44.4% |
All Important Facts about Gabon
Want to know more about Gabon? Check all different factbooks for Gabon below.
