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US diplomatic representation:
chief of mission: Ambassador Joseph C. WILSON IV
embassy: Boulevard de la Mer, Libreville
mailing address: B. P. 4000, Libreville
telephone: [241] 76 20 03 through 76 20 04, 74 34 92
FAX: [241] 74 55 07

Flag: three equal horizontal bands of green (top), yellow, and blue

@Gabon:Economy

Overview: Notwithstanding its serious ongoing economic problems, Gabon
enjoys a per capita income more than twice that of most nations of
sub-Saharan Africa. Gabon depended on timber and manganese until oil
was discovered offshore in the early 1970s. The oil sector now
accounts for 50% of GDP. Real growth was feeble in 1992 and Gabon
continues to face the problem of fluctuating prices for its oil,
timber, manganese, and uranium exports. Despite an abundance of
natural wealth, and a manageable rate of population growth, the
economy is hobbled by poor fiscal management. In 1992, the fiscal
deficit widened to 2.4% of GDP, and Gabon failed to settle arrears on
its bilateral debt, leading to a cancellation of rescheduling
agreements with official and private creditors. Devaluation of its
Francophone currency by 50% in January 1994 did not set off an
expected inflationary spiral but the government must continue to keep
a tight reign on spending and wage increases.

National product: GDP - purchasing power parity - $5.6 billion (1994
est.)

National product real growth rate: 1.9% (1994 est.)

National product per capita: $4,900 (1994 est.)

Inflation rate (consumer prices): 35% (1994 est.)

Unemployment rate: NA%

Budget:
revenues: $1.3 billion
expenditures: $1.6 billion, including capital expenditures of $311
million (1993 est.)

Exports: $2.1 billion (f.o.b., 1993 est)
commodities: crude oil 80%, timber 10%, manganese 6%, uranium 2%
partners: US 38%, France 26%, Japan, Germany

Imports: $832 million (c.i.f., 1993 est.)
commodities: foodstuffs, chemical products, petroleum products,
construction materials, manufactures, machinery
partners: France 42%, African countries 23%, US, Japan

External debt: $3.3 billion (1993 est.)

Industrial production: growth rate -3% (1991)

Electricity:
capacity: 315,000 kW
production: 910 million kWh
consumption per capita: 757 kWh (1993)

Industries: food and beverages, lumbering and plywood, textiles,
cement, petroleum refining, mining - manganese, uranium, gold,
petroleum

Agriculture: cash crops -