https://www.confiduss.com/en/jurisdictions/gabon/economy/ Economy of Gabon

Gabon is considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Gabon may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries can have a lower life expectancy than citizens of developed countries. Gabon exports about US$9.78 billion and imports about US$3.93 billion each year. 19.6% of the country's population is unemployed. The total number of unemployed in Gabon is 405,242. In Gabon, 34% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Gabon is quite high, but nothing to worry about in terms of investments. Potential lenders should consider other economic indicators, including GDP, urbanization rate and currency strength, before making investment decisions. Government spending on education is 3.8% of GDP. The country's Gini index is 60. Gabon suffers from high levels of inequality. The gap between the richest and poorest citizens in this country is quite obvious and of great importance, resulting in dramatically different living standards for rich and poor citizens. Gabon has a Human Development Index (HDI) of 0.674. Gabon has an upper middle HDI score. This suggests that the majority of citizens will be able to lead a desirable life, although some citizens will not be able to attain a high standard of living. The Global Peace Index (GPI) for Gabon is at 1,904. Due to the strong presence of the law enforcement authorities and the high level of social responsibility, Gabon is very safe in international comparison. The Strength Law Index for Gabon is 6. Overall, it is rated as fairly reasonable - bankruptcy and collateral laws can at least adequately protect the rights of borrowers and lenders; Credit reports are usually sufficient and generally available.

Currency
The currency of Gabon is the Central African CFA franc. The plural form of the word Central African CFA franc is CFA francs. The symbol used for this currency is Fr and is abbreviated as XAF. The Central African CFA franc is subdivided into centimes; There are 100 in a CFA franc.

Credit rating
The credit rating depth index for Gabon is 2, which means that the information is usually insufficient but can still provide some clarity; Accessibility is still a big issue. According to the rating agency S&P, Gabon has a credit rating of BB- and the prospects for this rating are stable. According to the rating agency Fitch, Gabon has a credit rating of BB- and the prospects for this rating are stable.

Central bank
In Gabon, the institution that manages the state's currency, money supply and interest rates is called the Bank of Central African States. Locally, the central bank of Gabon is called Banque des États de l'Afrique Centrale, BEAC. The average interest rate on deposits offered by local banks in Gabon is 2.6%.

National debt
Gabon has a public debt equivalent to 39.72% of the country's gross domestic product (GDP) as estimated in 2014.