Are you an EPFL student looking for a semester project?
Work with us on data science and visualisation projects, and deploy your project as an app on top of GraphSearch.
Concept
Economy of Gabon
Summary
The economy of Gabon is characterized by strong links with France, large foreign investments, dependence on skilled foreign labor, and decline of agriculture. Gabon enjoys a per capita income four times that of most nations of sub-Saharan Africa, its reliance on resource extraction industry releasing much of the population from extreme poverty.
The country is rich in natural resources such as timber, manganese and oil. The country is the fifth largest oil producing nation in Africa, which has helped drive its strong growth in the later 20th century.
The oil sector now accounts for 50% of GDP and 80% of exports. Although there have been recent offshore finds, oil production is now declining from its peak of in 1997, and periods of low oil prices have had a negative impact on government revenues and the economy. In 2012 there were six active oil rigs in Gabon.
The government has plans to diversify its economy away from its dwindling oil reserves. The government announced in 2012 that it would reassess exactly how much iron ore the Belinga site contains before awarding the concession to a mining company, most likely to be China's CMEC, which temporarily secured the rights to the ore in 2007.
Around 80% of Gabonese live in cities. The capital city, Libreville is home to 59% of the total population. The remainder of the country is still sparsely populated, as those areas remain densely forested.
GDP - composition by sector:
agriculture:
5.7%
industry:
57.2%
services:
37% (2008 est.)
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%:
NA%
highest 10%:
NA%
Inflation rate (consumer prices):
5% (2008 est.)
Labour force:
592,000 (2008 est.)
Labour force - by occupation:
agriculture 60%, services and government 25%, industry and commerce 15% (2000 est.)
Unemployment rate:
21% (2006 est.)
Budget:
revenues:
2.75 billion (2008 est.)
Industries:
food and beverage; textile; lumbering and plywood; cement; petroleum extraction and refining; manganese, uranium, and gold mining; chemical production; ship repair
Industrial production growth rate:
1.
Official source
About this result
This page is automatically generated and may contain information that is not correct, complete, up-to-date, or relevant to your search query. The same applies to every other page on this website. Please make sure to verify the information with EPFL's official sources.