Agriculture > products
cocoa, coffee, sugar, palm oil, rubber; cattle; okoume (a tropical softwood); fish |
|
Aid as % of GDP
|
0.2% |
|
[119th of 129]
|
|
Definition: Economy > Aid as % of GDP |
|
Source: CIA World Factbook, 28 July 2005 |
|
Debt > External
|
$4,895,000,000.00 |
|
[93rd of 136]
|
|
Definition: Economy > Debt > External |
|
Source: calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC |
|
Economic freedom
|
1.85 |
|
[92nd of 156]
|
|
Definition: Economy > Economic freedom |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
Economy > Overview
Gabon enjoys a per capita income four times that of most of 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 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. The devaluation of the CFA franc - its currency - by 50% in January 1994 sparked a one-time inflationary surge, to 35%; the rate dropped to 6% in 1996. The IMF provided a one-year standby arrangement in 1994-95, a three-year Enhanced Financing Facility (EFF) at near commercial rates beginning in late 1995, and stand-by credit of $119 million in October 2000. Those agreements mandated progress in privatization and fiscal discipline. France provided additional financial support in January 1997 after Gabon met IMF targets for mid-1996. 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 2004, and received Paris Club debt rescheduling later that year. Short-term progress depends on an upbeat world economy and fiscal and other adjustments in line with IMF policies. |
|
Definition: Economy > Economy > Overview |
|
Source: The Heritage Foundation |
Exchange rates
Communaute Financiere Africaine francs (XAF) per US dollar - 528.29 (2004), 581.2 (2003), 696.99 (2002), 733.04 (2001), 711.98 (2000) |
|
Definition: Economy > Exchange rates |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Exports
|
$6,956,000,000.00 |
|
[91st of 189]
|
|
Definition: Economy > Exports |
|
Source: CIA World Factbook, 28 July 2005 |
|
Exports to US
|
$503,800,000.00 |
|
[57th of 224]
|
|
Definition: Economy > Exports to US |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP
|
$9,545,985,000.00 |
|
[98th of 203]
|
|
Definition: Economy > GDP |
|
Source: US Census Bureau |
|
GDP (purchasing power parity)
|
$20,440,000,000.00 |
|
[119th of 187]
|
|
Definition: Economy > GDP (purchasing power parity) |
|
Source: World Development Indicators database and CIA World Factbook |
|
GDP > PPP
|
$9,227,000,000.00 |
|
[127th of 163]
|
|
Definition: Economy > GDP > PPP |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP > Real growth rate
|
6.2% |
|
[70th of 198]
|
|
Definition: Economy > GDP > Real growth rate |
|
Source: World Bank. 2005. World Development Indicators 2005. |
|
GDP growth > annual %
|
2.2 annual %
|
|
[142nd of 187]
|
|
Definition: Economy > GDP growth > annual % |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP per capita, PPP > current international $
|
6,954.08 PPP $
|
|
[74th of 169]
|
|
Definition: Economy > GDP per capita, PPP > current international $ |
|
Source: World Development Indicators database |
|
Gross National Income
|
$3,989,590,000.00 |
|
[109th of 172]
|
|
Definition: Economy > Gross National Income |
|
Source: World Development Indicators database |
|
Gross national income > constant LCU
|
1858550000000 |
|
|
|
Definition: Economy > Gross national income > constant LCU |
|
Human Development Index
|
0.635 |
|
[124th of 178]
|
|
Definition: Economy > Human Development Index |
|
Source: World Development Indicators database |
|
Inflation rate (consumer prices)
|
5% |
|
[96th of 192]
|
|
Definition: Economy > Inflation rate (consumer prices) |
|
Source: Human Development Report 2006, United Nations Development Programme |
|
Public debt
|
52.8 % of GDP |
|
[35th of 121]
|
|
Definition: Economy > Public debt |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Tourist arrivals
|
167,000 |
|
[104th of 152]
|
|
Definition: Economy > Tourist arrivals |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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