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| Government Type |
republic; multiparty presidential regime (opposition parties legalized in 1990) |
| Legal System |
based on French civil law system and customary law; judicial review of legislative acts in Constitutional Chamber of the Supreme Court; has not accepted compulsory ICJ jurisdiction |
| Currency |
Communaute Financiere Africaine franc (XAF); note - responsible authority is the Bank of the Central African States |
| Economic Overview |
Gabon enjoys a per capita income four times that of most nations of sub-Saharan Africa. This has supported a sharp decline in extreme poverty; yet 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. Devaluation of its Francophone currency by 50% on 12 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 mandate progress in privatization and fiscal discipline. France provided additional financial support in January 1997 after Gabon had 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 in 1999-2000 helped growth, but drops in production hampered Gabon from fully realizing potential gains. 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. Short-term progress depends on an upbeat world economy and fiscal and other adjustments in line with IMF policies. |
| Natural Resources |
petroleum, manganese, uranium, gold, timber, iron ore, hydropower |
| Primary Industries |
petroleum extraction and refining; manganese, and gold mining; chemicals; ship repair; food and beverage; textile; lumbering and plywood; cement. |
| Agricultural Products |
cocoa, coffee, sugar, palm oil, rubber; cattle; okoume (a tropical softwood); fish |
| Import Commodities |
machinery and equipment, foodstuffs, chemicals, construction materials |
| Export Commodities |
crude oil 77%, timber, manganese, uranium (2001) |
| Export Partners |
US 50.2%, France 17.1%, China 7.7%, Netherlands Antilles 4.3% (2000) |
| AIRPORTS of Gabon |
| Franceville - Mvengue Airport |
Position 01°39ī22"S, 013°26ī17"E, Elevation 442m (1,450ft) |
Detals |
| Libreville-Leon MīBa Intīl Airport |
Libreville |
Detals |
| Port Gentil Airport |
Position 00°42ī42"S, 008°45ī16"E, Elevation 4m (13ft) |
Detals |
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