Economy of Gabon: oil, mining, timber and public finances
What does the economy of Gabon rely on?
The economy of Gabon relies on the exploitation of its natural resources, above all oil, manganese and timber, and on services and construction driven by public investment. The country uses the CFA franc of CEMAC, the XAF, issued by the Bank of Central African States (BEAC), and the World Bank estimates its growth at 3.2% in 2025.
Growth and sectors of activity
According to the World Bank, growth in 2025 was supported by public investment in roads, buildings and other infrastructure. Services and construction benefited from these major works, while oil production fell because of technical incidents and ageing fields. Manganese and timber output, for their part, suffered from transport difficulties and weaker demand.
Inflation stood at 1% year on year in May 2026, below the convergence criterion of 3% set in the CEMAC zone.
Oil, manganese and timber in foreign trade
Crude oil, manganese ore and timber dominate exports. Gabon is among the world's leading manganese producers, mined around Moanda, in Haut-Ogooué, and the State seeks to have a growing share of these materials processed locally, notably timber, whose export as logs has been banned since 2010.
Investment and financial partners
The World Bank's partnership framework with Gabon, approved on 8 November 2022, covers the period 2023 to 2027. The current portfolio comprises five projects, one of them regional, for a total of $514.5 million. In 2026, the World Bank also published a public finance review devoted to improving fiscal policy.
The country has also requested a financing programme from the International Monetary Fund, formally in March 2026, after a mission by the institution that began on 25 February 2026. The government expects this programme to bring direct financial support, greater credibility with donors and investors, and technical assistance, at the price of structural reforms and spending control.
Public debt and fiscal balance
According to a government audit announced in September 2026, public debt at the end of 2025 stands at 68.91% of gross domestic product, compared with 84.6% before the audit, which is below the 70% threshold set by CEMAC. According to IMF estimates, the fiscal deficit, including grants, reached 8.5% of gross domestic product in 2025, compared with 3.3% in 2024.
In 2026, Gabon raised $920 million through a seven-year eurobond with a coupon of 9.375%. The year's budget was revised, with revenue forecasts cut by 22% and authorisation for external borrowing of up to $1.5 billion. The agency Moody's maintains the Caa2 rating with a negative outlook. The IMF recommends treating exceptional oil revenues as temporary, using them to clear arrears and reduce costly domestic debt, and adopting fiscal rules.