Economy - overview:
Gabon enjoys a per capita income four times that of most Sub-Saharan African nations, but because of high income inequality, a large proportion of the population remains poor. Gabon relied on timber and manganese exports until oil was discovered offshore in the early 1970s. From 2010 to 2016, oil accounted for approximately 80% of Gabon’s exports, 45% of its GDP, and 60% of its state budget revenues.

Gabon faces fluctuating international prices for its oil, timber, and manganese exports. A rebound of oil prices from 2001 to 2013 helped growth, but declining production, as some fields passed their peak production, has hampered Gabon from fully realizing potential gains. GDP grew nearly 6% per year over the 2010-14 period, but slowed significantly from 2014 to just 1% in 2017 as oil prices declined. Low oil prices also weakened government revenue and negatively affected the trade and current account balances. In the wake of lower revenue, Gabon signed a 3-year agreement with the IMF in June 2017.

Despite an abundance of natural wealth, poor fiscal management and over-reliance on oil has stifled the economy. Power cuts and water shortages are frequent. Gabon is reliant on imports and the government heavily subsidizes commodities, including food, but will be hard pressed to tamp down public frustration with unemployment and corruption.

GDP (purchasing power parity):
$36.66 billion (2017 est.)
$36.5 billion (2016 est.)
$35.75 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 123
[see also: GDP country ranks ]

GDP (official exchange rate):
$14.93 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
0.5% (2017 est.)
2.1% (2016 est.)
3.9% (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 191
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$18,100 (2017 est.)
$18,400 (2016 est.)
$18,500 (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 98
[see also: GDP - per capita country ranks ]

Gross national saving:
25.6% of GDP (2017 est.)
24.3% of GDP (2016 est.)
29.2% of GDP (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 55
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 37.6% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 14.1% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 29% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.6% (2016 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 46.7% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -26.8% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 5% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 44.7% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 50.4% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cocoa, coffee, sugar, palm oil, rubber; cattle; okoume (a tropical softwood); fish

Industries:
petroleum extraction and refining; manganese, gold; chemicals, ship repair, food and beverages, textiles, lumbering and plywood, cement

Industrial production growth rate:
1.8% (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 135
[see also: Industrial production growth rate country ranks ]

Labor force:
557,800 (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 155
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 64%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 12%
[see also: Labor force - by occupation - industry country ranks ]
services: 24% (2005 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
28% (2015 est.)
20.4% (2014 est.)
country comparison to the world (CIA rank, may be based on non-current data): 204
[see also: Unemployment rate country ranks ]

Population below poverty line:
34.3% (2015 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 32.7% (2005)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
42.2 (2005 est.)
country comparison to the world (CIA rank, may be based on non-current data): 52
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 2.634 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 2.914 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
17.6% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 167
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.9% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 101
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
62.7% of GDP (2017 est.)
64.2% of GDP (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 68
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.7% (2017 est.)
2.1% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 125
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
3% (31 December 2010)
4.25% (31 December 2009)
country comparison to the world (CIA rank, may be based on non-current data): 110
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
15% (31 December 2017 est.)
14% (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 40
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$2.357 billion (31 December 2017 est.)
$2.053 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 130
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.357 billion (31 December 2017 est.)
$2.053 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 138
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$2.91 billion (31 December 2017 est.)
$3.097 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 141
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$725 million (2017 est.)
-$1.389 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 131
[see also: Current account balance country ranks ]

Exports:
$5.564 billion (2017 est.)
$4.364 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 105
[see also: Exports country ranks ]

Exports - partners:
China 36.4%, US 10%, Ireland 8.5%, Netherlands 6.3%, South Korea 5.1%, Australia 5%, Italy 4.6% (2017)

Exports - commodities:
crude oil, timber, manganese, uranium

Imports:
$2.829 billion (2017 est.)
$2.652 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 150
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, foodstuffs, chemicals, construction materials

Imports - partners:
France 23.6%, Belgium 19.6%, China 15.2% (2017)

Reserves of foreign exchange and gold:
$981.6 million (31 December 2017 est.)
$804.1 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 133
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$6.49 billion (31 December 2017 est.)
$5.321 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 127
[see also: Debt - external country ranks ]

Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
605.3 (2017 est.)
593.01 (2016 est.)
593.01 (2015 est.)
591.45 (2014 est.)
494.42 (2013 est.)