Gabon’s economy recorded growth of 2.9% in 2024, compared to an estimated 2.4% in 2023, according to a World Bank report.
Presented in Libreville, the report highlights moderate growth, marked by a 2.9% increase in 2024—up from 2.4% the previous year—thanks in particular to a 4.6% rise in oil production and the dynamism of public works projects.
The document points to an economy overly dependent on three products—oil, timber, and manganese—which account for 97% of exports, as well as persistent poverty, estimated at 34.6%, and an unemployment rate affecting about 20% of the population.
“Current growth is real, but it remains limited in terms of inclusiveness,” emphasized Éric Tjong, Country Economist, while presenting the key findings of Gabon’s economic update.
“This note is based on several World Bank studies that consider human capital, assets, infrastructure, and natural capital, including oil,” he explained, noting that these data help measure how growth contributes to the population’s well-being.
Additionally, the report highlights the country’s natural wealth—particularly the value of ecosystem services provided by forests, which was estimated at 43,200 billion CFA francs, or approximately $71.1 billion in 2020.
“These resources could contribute much more to growth and well-being if they were better integrated into public policy,” stated Aïssatou Diallo, the World Bank’s representative in Gabon.
