Country Details
Gabon
Western Africa, bordering the North Atlantic Ocean and Senegal
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Economy
Detailed information and insights
Economic overview
low-income West African economy; agriculture-dominant; high poverty rate; heightened inflation; dependent on foreign assistance and remittances; structural reforms conditioned by IMF Extended Credit Facility program
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024
$8.365 billion (2024 est.)
Real GDP (purchasing power parity) 2023
$7.911 billion (2023 est.)
Real GDP (purchasing power parity) 2022
$7.549 billion (2022 est.)
Real GDP growth rate
Real GDP growth rate 2024
5.7% (2024 est.)
Real GDP growth rate 2023
4.8% (2023 est.)
Real GDP growth rate 2022
5.5% (2022 est.)
Real GDP per capita
Real GDP per capita 2024
$3,000 (2024 est.)
Real GDP per capita 2023
$2,900 (2023 est.)
Real GDP per capita 2022
$2,900 (2022 est.)
GDP (official exchange rate)
$2.508 billion (2024 est.)
Note
note: data in current dollars at official exchange rate
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2024
11.6% (2024 est.)
Inflation rate (consumer prices) 2023
17% (2023 est.)
Inflation rate (consumer prices) 2022
11.5% (2022 est.)
GDP - composition, by sector of origin
Agriculture
24.1% (2024 est.)
Industry
14.7% (2024 est.)
Services
53.9% (2024 est.)
GDP - composition, by end use
Household consumption
83.2% (2024 est.)
Government consumption
8.5% (2024 est.)
Investment in fixed capital
39% (2024 est.)
Investment in inventories
0% (2024 est.)
Exports of goods and services
6.6% (2024 est.)
Imports of goods and services
-37.2% (2024 est.)
Agricultural products
rice, groundnuts, milk, millet, oil palm fruit, maize, vegetables, cassava, fruits, sorghum (2023)
Note
note: top ten agricultural products based on tonnage
Industries
peanuts, fish, hides, tourism, beverages, agricultural machinery assembly, woodworking, metalworking, clothing
Industrial production growth rate
2.4% (2024 est.)
Note
note: annual % change in industrial value added based on constant local currency
Labor force
783,100 (2024 est.)
Note
note: number of people ages 15 or older who are employed or seeking work
Unemployment rate
Unemployment rate 2024
6.5% (2024 est.)
Unemployment rate 2023
6.5% (2023 est.)
Unemployment rate 2022
6.1% (2022 est.)
Youth unemployment rate (ages 15-24)
Total
10.9% (2024 est.)
Male
10.9% (2024 est.)
Female
10.9% (2024 est.)
Population below poverty line
53.4% (2020 est.)
Note
note: % of population with income below national poverty line
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2020
38.8 (2020 est.)
Household income or consumption by percentage share
Lowest 10%
2.6% (2020 est.)
Highest 10%
30.5% (2020 est.)
Remittances
Remittances 2024
21.1% of GDP (2024 est.)
Remittances 2023
21.5% of GDP (2023 est.)
Remittances 2022
22.8% of GDP (2022 est.)
Budget
Revenues
$308.887 million (2018 est.)
Expenditures
$221.137 million (2018 est.)
Public debt
Public debt 2016
82.3% of GDP (2016 est.)
Current account balance
Current account balance 2024
-$74.374 million (2024 est.)
Current account balance 2023
-$120.064 million (2023 est.)
Current account balance 2022
-$90.251 million (2022 est.)
Exports
Exports 2024
$838.409 million (2024 est.)
Exports 2023
$717.774 million (2023 est.)
Exports 2022
$267.377 million (2022 est.)
Exports - partners
Kazakhstan 92%, Guinea-Bissau 2%, China 1%, India 1%, Greece 1% (2023)
Note
note: top five export partners based on percentage share of exports
Exports - commodities
packaged medicine, cars, harvesting machinery, refined petroleum, trailers (2023)
Note
note: top five export commodities based on value in dollars
Imports
Imports 2024
$1.549 billion (2024 est.)
Imports 2023
$1.353 billion (2023 est.)
Imports 2022
$829.516 million (2022 est.)
Imports - partners
Kazakhstan 26%, China 18%, Senegal 8%, India 7%, Brazil 4% (2023)
Note
note: top five import partners based on percentage share of imports
Imports - commodities
crude petroleum, refined petroleum, cotton fabric, iron alloys, rice (2023)
Note
note: top five import commodities based on value in dollars
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023
$577.028 million (2023 est.)
Reserves of foreign exchange and gold 2022
$568.244 million (2022 est.)
Reserves of foreign exchange and gold 2021
$652.671 million (2021 est.)
Debt - external
Debt - external 2023
$902.421 million (2023 est.)
Exchange rates
Currency
dalasis (GMD) per US dollar -
Exchange rates 2023
61.096 (2023 est.)
Exchange rates 2022
54.923 (2022 est.)
Exchange rates 2021
51.484 (2021 est.)
Exchange rates 2020
51.502 (2020 est.)
Exchange rates 2019
50.062 (2019 est.)