Gabon experienced a 2.9% economic growth in 2024, largely due to its oil sector and public works. Despite the trade surplus from strong commodity exports, the country remains dependent on oil, manganese, and wood, which account for 97% of its exports. Although inflation decreased, limited job opportunities and modest growth have led to increased poverty levels with over a third of the population living in poverty and unemployment at 20%.
The fiscal position worsened in 2024 due to lower oil revenues and increased public spending. This led to a reduction in the fiscal balance from a surplus of 1.8% of GDP in 2023 to an estimated deficit of -3.7% in 2024. Public spending rose by 24%, particularly on infrastructure and social measures.
From 2025 to 2027, Gabon's economy is projected to grow by 2.4%. The outlook faces uncertainties like global trade restrictions and fluctuating oil prices. Growth is expected from sectors such as wood, minerals, and agriculture. Political stability is anticipated with a new government returning to constitutional order but requires significant reforms for job creation and poverty reduction.
Gabon’s national wealth reached USD 105 billion in real terms by 2020, increasing by 35% since 1995. Natural capital forms the largest part at 42%, followed by human capital at 31%, and physical capital at 27%. However, per capita wealth fell by nearly a third between these years due to challenges converting natural resources into productive assets.
Forest ecosystem services almost doubled their value between 2000 and 2020 due mainly to carbon retention services valued at USD75.1 billion. Sustainable forestry practices kept deforestation low at just under one percent annually compared to other nations.
Reforms are urgently needed for Gabon’s declining per capita wealth trend reversal. Governance improvements alongside investments aligned with fiscal space could enhance sectors like wood processing, ecotourism, agriculture while bolstering education health initiatives for broader socioeconomic development.