| Economy | Gabon |
 = Fields  = World Records  = Dictionary  = Bar graph  = Distribution map  = Fields History  = Definitions |
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 depended on timber and manganese until oil was discovered offshore in the early 1970s. The oil sector now accounts for more than 50% of GDP. Gabon continues to face fluctuating prices for its oil, timber, and manganese exports. Despite the abundance of natural wealth, poor fiscal management hobbles the economy. In 1997, an IMF mission to Gabon criticized the government for overspending on off-budget items, overborrowing from the central bank, and slipping on its schedule for privatization and administrative reform. The rebound of oil prices since 1999 have helped growth, but drops in production have hampered Gabon from fully realizing potential gains, and will continue to temper the gains for most of this decade. In December 2000, Gabon signed a new agreement with the Paris Club to reschedule its official debt. A follow-up bilateral repayment agreement with the US was signed in December 2001. Gabon signed a 14-month Stand-By Arrangement with the IMF in May 2007, and received Paris Club debt rescheduling later that year. |
GDP (purchasing power parity):
|
$21.44 billion (2008 est.)
$20.7 billion (2007)
$19.6 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$14,400 (2008 est.)
$14,200 (2007 est.)
$13,700 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$15.91 billion (2008 est.) |
GDP - real growth rate:
|
3.6% (2008 est.)
5.6% (2007 est.)
1.2% (2006 est.) |
GDP - composition by sector:
|
agriculture: 5.7%
industry: 57.2%
services: 37% (2008 est.) |
Investment (gross fixed):
|
32% of GDP (2008 est.) |
Population below poverty line:
|
NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
5% (2008 est.) |
Central bank discount rate:
|
5.25% (31 December 2007) |
Commercial bank prime lending rate:
|
15% (31 December 2007) |
Stock of money:
|
$1.547 billion (31 December 2007) |
Stock of money - per capita:
|
1,022 USD per capita |
Stock of quasi money:
|
$799.3 million (31 December 2007) |
Stock of quasi money - per capita:
|
528 USD per capita |
Stock of domestic credit:
|
$359.8 million (31 December 2007) |
Stock of domestic credit - per capita:
|
238 USD per capita |
Labor force:
|
592,000 (2008 est.) |
Labor force participation rate:
|
39.08 % of population |
Labor force - by occupation:
|
agriculture: 60%
industry: 15%
services: 25% (2000 est.) |
Unemployment rate:
|
21% (2006 est.) |
Budget:
|
revenues: $4.463 billion
expenditures: $2.746 billion (2008 est.) |
Budget revenues per capita:
|
2,946 USD per capita |
Public debt:
|
26.3% of GDP (2008 est.) |
Industries:
|
petroleum extraction and refining; manganese, gold; chemicals, ship repair, food and beverages, textiles, lumbering and plywood, cement |
Industrial production growth rate:
|
1.5% (2008 est.) |
Electricity - production:
|
1.671 billion kWh (2006 est.) |
Electricity - production per capita:
|
1,103 kWh per capita |
Electricity - consumption:
|
1.365 billion kWh (2006 est.) |
Electricity - consumption - per capita:
|
901 kWh per capita |
Electricity - exports:
|
0 kWh (2007 est.) |
Electricity - imports:
|
0 kWh (2007 est.) |
Oil - production:
|
243,900 bbl/day (2007 est.) |
Oil - production per capita:
|
160,991 bbl/day per capita |
Oil - consumption:
|
13,170 bbl/day (2006 est.) |
Oil - consumption - per capita:
|
3.17 bbl/year per capita |
Oil - exports:
|
255,500 bbl/day (2005) |
Oil - imports:
|
2,485 bbl/day (2005) |
Oil - proved reserves:
|
2 billion bbl (1 January 2008 est.) |
Natural gas - production:
|
100 million cu m (2006 est.) |
Natural gas - production per capita:
|
67 cu m per capita |
Natural gas - consumption:
|
100 million cu m (2006 est.) |
Natural gas - consumption - per capita:
|
67 cu m per capita |
Natural gas - exports:
|
0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
Natural gas - proved reserves:
|
28.32 billion cu m (1 January 2008 est.) |
Agriculture - products:
|
cocoa, coffee, sugar, palm oil, rubber; cattle; okoume (a tropical softwood); fish |
Current account balance:
|
$2.026 billion (2008 est.) |
Current account balance - per capita:
|
1,338 USD per capita |
Exports:
|
$9.743 billion f.o.b. (2008 est.) |
Exports per capita:
|
6,432 USD per capita |
Exports - commodities:
|
crude oil 70%, timber, manganese, uranium (2001) |
Exports - partners:
|
US 32.5%, China 15.8%, France 9.4%, Malaysia 6%, Trinidad and Tobago 5% (2007) |
Imports:
|
$2.83 billion f.o.b. (2008 est.) |
Imports per capita:
|
1,868 USD per capita |
Imports - commodities:
|
machinery and equipment, foodstuffs, chemicals, construction materials |
Imports - partners:
|
France 27.7%, US 19.1%, Belgium 5.4%, Netherlands 4.7%, China 4.1% (2007) |
Reserves of foreign exchange and gold:
|
$1.859 billion (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
1,228 USD per capita |
Debt - external:
|
$3.173 billion (31 December 2008 est.) |
Debt - external - per capita:
|
2,095 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$53.87 million (2005) |
Economic aid - recipient per capita:
|
36 USD per capita |
Currency (code):
|
Communaute Financiere Africaine franc (XAF); note - responsible authority is the Bank of the Central African States |
Exchange rates:
|
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - 447.81 (2008 est.), 481.83 (2007), 522.89 (2006), 527.47 (2005), 528.29 (2004)
note: since 1 January 1999, the Central African CFA franc (XAF) has been pegged to the euro at a rate of 655.957 CFA francs per euro; Central African CFA franc (XAF) coins and banknotes are not accepted in countries using West African CFA francs (XOF), and vice versa, even though the two currencies trade at par |
Fiscal year:
|
calendar year |
|
= Fields = World Records = Dictionary = Bar graph = Distribution map = Fields History = Definitions |
|
Home 
Geographic Names
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
