Gabon is considered a developing country. A nation's stage 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 look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 3.8% of GDP. The country's Gini index is 60. Gabon suffers from severe inequality. The gap between the richest and poorest citizens in this country is quite obvious and highly significant, 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 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.
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.
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.
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%.
Gabon has a public debt equal to 39.72% of the country's gross domestic product (GDP) as estimated in 2014.
Corporate tax in Gabon is 35%. Personal income tax ranges from 5% to 35% depending on your specific situation and income level. The VAT in Gabon is 18%.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Gabon is $32912 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Gabon was last recorded at $16 million. PPP in Gabon is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Gabon is 16,970 billion. Based on this statistic, Gabon is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Gabon was last recorded at $8 million. The average citizen in Gabon has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Gabon averaged 5.1% in 2014. According to this percentage, Gabon is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well.