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.
$32.05 billion (2020 est.)
$32.48 billion (2019 est.)
$31.25 billion (2018 est.)
note: data are in 2017 dollars
0.5% (2017 est.)
2.1% (2016 est.)
3.9% (2015 est.)
$14,400 (2020 est.)
$15,000 (2019 est.)
$14,700 (2018 est.)
note: data are in 2017 dollars
$16.064 billion (2019 est.)
2.4% (2019 est.)
4.7% (2018 est.)
2.6% (2017 est.)
Fitch rating: CCC (2020)
Moody's rating: Caa1 (2018)
Standard & Poors rating: N/A (2016)
note: The year refers to the year in which the current credit rating was first obtained.
agriculture: 5% (2017 est.)
industry: 44.7% (2017 est.)
services: 50.4% (2017 est.)
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.)
plantains, cassava, sugar cane, yams, taro, vegetables, maize, groundnuts, game meat, rubber
petroleum extraction and refining; manganese, gold; chemicals, ship repair, food and beverages, textiles, lumbering and plywood, cement
1.8% (2017 est.)
557,800 (2017 est.)
agriculture: 64%
industry: 12%
services: 24% (2005 est.)
28% (2015 est.)
20.4% (2014 est.)
33.4% (2017 est.)
38 (2017 est.)
lowest 10%: 2.5%
highest 10%: 32.7% (2005)
revenues: 2.634 billion (2017 est.)
expenditures: 2.914 billion (2017 est.)
-1.9% (of GDP) (2017 est.)
62.7% of GDP (2017 est.)
64.2% of GDP (2016 est.)
17.6% (of GDP) (2017 est.)
calendar year
-$725 million (2017 est.)
-$1.389 billion (2016 est.)
$10.8 billion (2019 est.)
$9.533 billion (2018 est.)
$9.145 billion (2017 est.)
China 63%, Singapore 5% (2019)
crude petroleum, manganese, lumber, veneer sheeting, refined petroleum (2019)
$5.02 billion (2019 est.)
$4.722 billion (2018 est.)
$4.749 billion (2017 est.)
France 22%, China 17%, Belgium 6%, United States 6%, United Arab Emirates 5% (2019)
poultry meats, excavation machinery, packaged medicines, cars, rice (2019)
$981.6 million (31 December 2017 est.)
$804.1 million (31 December 2016 est.)
$6.49 billion (31 December 2017 est.)
$5.321 billion (31 December 2016 est.)
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.)
NOTE: The information regarding Gabon on this page is re-published from the 2022 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Gabon 2022 information contained here. All suggestions for corrections of any errors about Gabon 2022 should be addressed to the CIA or the source cited on each page.
This page was last modified 01 Dec 23, Copyright © 23 ITA all rights reserved.