Economy
Gabon
Budget
revenues
$2.939 billion (2021 est.)
expenditures
$3.226 billion (2021 est.)
Exports
Exports 2022
$13.814 billion (2022 est.)
Exports 2023
$12.869 billion (2023 est.)
Exports 2024
$13.622 billion (2024 est.)
Imports
Imports 2022
$5.005 billion (2022 est.)
Imports 2023
$5.38 billion (2023 est.)
Imports 2024
$6.094 billion (2024 est.)
Industries
extraction and refining of petroleum; manganese, gold; chemicals, ship repair, food and beverages, textiles, lumber, plywood, and cement
Labor force
824,400 (2024 est.)
Public debt
Public debt 2016
64.2% of GDP (2016 est.)
Remittances
Remittances 2021
0.1% of GDP (2021 est.)
Remittances 2022
0.1% of GDP (2022 est.)
Remittances 2023
0.1% of GDP (2023 est.)
Exchange rates
Currency
Coopération Financière en Afrique Centrale francs (XAF) per US dollar -
Exchange rates 2020
575.586 (2020 est.)
Exchange rates 2021
554.531 (2021 est.)
Exchange rates 2022
623.76 (2022 est.)
Exchange rates 2023
606.57 (2023 est.)
Exchange rates 2024
606.345 (2024 est.)
Debt - external
Debt - external 2023
$6.442 billion (2023 est.)
Economic overview
a resource-rich, upper-middle-income economy in Central Africa; considerable dependence on oil and mineral exports; a highly urban population; elevated levels of poverty and unemployment; uncertainty regarding institutional and developmental reforms after the military coup in 2023
Unemployment rate
Unemployment rate 2022
20.4% (2022 est.)
Unemployment rate 2023
20.3% (2023 est.)
Unemployment rate 2024
20.1% (2024 est.)
Exports - partners
China 26%, Indonesia 8%, Spain 7%, Israel 6%, Republic of the Congo 5% (2023)
Imports - partners
France 14%, China 13%, South Korea 13%, USA 7%, India 4% (2023)
Real GDP per capita
Real GDP per capita 2022
$18,700 (2022 est.)
Real GDP per capita 2023
$18,700 (2023 est.)
Real GDP per capita 2024
$18,900 (2024 est.)
Real GDP growth rate
Real GDP growth rate 2022
3% (2022 est.)
Real GDP growth rate 2023
2.4% (2023 est.)
Real GDP growth rate 2024
3.4% (2024 est.)
Agricultural products
oil palm fruit, plantains, cassava, sugarcane, yams, taro, vegetables, maize, groundnuts, game meat (2023)
Exports - commodities
crude petroleum, ships, manganese ore, refined petroleum, wood (2023)
Imports - commodities
ships, refined petroleum, iron pipes, automobiles, packaged medicines (2023)
Current account balance
Current account balance 2013
$1.463 billion (2013 est.)
Current account balance 2014
$1.112 billion (2014 est.)
Current account balance 2015
$140.996 million (2015 est.)
Taxes and other revenues
9.5% (of GDP) (2021 est.)
GDP (official exchange rate)
$20.867 billion (2024 est.)
GDP - composition, by end use
household consumption
33.7% (2024 est.)
government consumption
12.2% (2024 est.)
investment in inventories
0% (2024 est.)
investment in fixed capital
18.1% (2024 est.)
exports of goods and services
65.3% (2024 est.)
imports of goods and services
-29.2% (2024 est.)
Population below poverty line
33.4% (2017 est.)
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2022
4.2% (2022 est.)
Inflation rate (consumer prices) 2023
3.6% (2023 est.)
Inflation rate (consumer prices) 2024
1.2% (2024 est.)
Industrial production growth rate
2.8% (2024 est.)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022
$45.363 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$46.472 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$48.045 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
31.1% (2024 est.)
total
36% (2024 est.)
female
42.3% (2024 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2021
$1.304 billion (2021 est.)
Reserves of foreign exchange and gold 2022
$1.415 billion (2022 est.)
Reserves of foreign exchange and gold 2023
$1.447 billion (2023 est.)
GDP - composition, by sector of origin
industry
50.9% (2024 est.)
services
37.5% (2024 est.)
agriculture
6.2% (2024 est.)
Household income or consumption by percentage share
lowest 10%
2.2% (2017 est.)
highest 10%
27.7% (2017 est.)
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2017
38 (2017 est.)