Gabon

Gabon Economy

Gabon's economy in numbers:

Nominal GDP of USD 19.7 billion in 2022.

GDP per capita of USD 9,128 compared to the global average of USD 10,589.

Average real GDP growth of 3% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2021, services accounted for 46% of overall GDP, manufacturing 21%, other industrial activity 27%, and agriculture 6%. Looking at GDP by expenditure, private consumption accounted for 37% of GDP in 2021, government consumption 12%, fixed investment 19%, and net exports 32%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2009, manufactured products made up 4% of total merchandise exports, mineral fuels 83%, food 1%, ores and metals 3% and agricultural raw materials 9%, with other categories accounting for 0% of the total. In the same period, manufactured products made up 74% of total merchandise imports, mineral fuels 7%, food 17%, ores and metals 1% and agricultural raw materials 0%, with other goods accounting for 1% of the total. Total exports were worth USD 9 billion in 2022, while total imports were USD 5 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 3.0% in the decade to 2021. To read more about GDP growth in Gabon, go to our dedicated page.

Fiscal policy:

Gabon's fiscal surplus averaged 2.2% of GDP in the decade to 2021. Find out more on our dedicated page.

Inflation:

Inflation averaged 1.1% in the decade to 2022. Go to our Gabon inflation page for extra insight.

Exchange Rate:

From end-2012 to end-2022 the Central African CFA franc weakened by 19.2% vs the U.S. dollar. For more info on the Central African CFA franc, click here.
Projections out to 2033.

25 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 6 expert analysts.

Want to get insight on the economic outlook for Gabon in the coming years? FocusEconomics collects projections out to 2033 on 25 economic indicators for Gabon from a panel of 6 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Gabon economy. To download a sample report on the Gabon's economy, click here . To get in touch with our team for more information, fill in the form at the bottom of this page .

Gabon Economic Data

2018 2019 2020 2021 2022
Population (million) 2.1 2.1 2.1 2.1 2.2
GDP (USD bn) 15.7 16.3 15.7 17.3 19.7
GDP per Capita (USD) 7,642 7,834 7,453 8,083 9,128
GDP (LCU bn) 8,988 9,515 8,399 9,994 12,131
Economic Growth (Nominal GDP, ann. var. %) 6.3 5.9 -11.7 19.0 21.4
Economic Growth (GDP, ann. var. %) 0.9 3.8 -1.8 1.5 -
Fiscal Balance (% of GDP) 2.2 4.4 1.2 0.9 -
Public Debt (% of GDP) 61.1 60.0 78.3 65.8 -
Inflation (CPI, ann. var. %, eop) - -3.5 1.6 1.6 5.4
Inflation (CPI, ann. var. %, aop) - -2.4 1.4 1.1 4.2
Exchange Rate (XAF per USD, eop) 573 584 535 579 615
Exchange Rate (LCU per USD, aop) 556 586 576 555 624
Current Account Balance (USD bn) -0.8 -0.8 - - -
Current Account Balance (% of GDP) -5.2 -5.1 - - -
Merchandise Trade Balance (USD bn) 2.4 4.2 2.8 4.0 4.6
Merchandise Exports (USD bn) 6.2 6.7 6.2 7.6 9.2
Merchandise Imports (USD bn) 3.8 2.5 3.4 3.6 4.6
Merchandise Exports (ann. var. %) 20.7 7.9 -7.4 22.1 21.1
Merchandise Imports (ann. var. %) 9.3 -33.5 35.2 5.1 27.5
Foreign Direct Investment (USD bn) 1.4 1.6 1.7 1.5 1.1
International Reserves (USD bn) 1.1 1.2 - - -
International Reserves (months of imports) 3.6 5.6 - - -
External Debt (USD bn) 6.9 7.3 7.7 7.8 8.0
External Debt (% of GDP) 43.7 44.5 49.0 45.2 40.3

Free Sample Report

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