Economy - overview:
The economy is a mixture of subsistence farming and hunting, an industrial sector based largely on oil and support services, and government spending. Oil has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports. Natural gas is increasingly being converted to electricity rather than being flared, greatly improving energy prospects. New mining projects, particularly iron ore, which entered production in late 2013, may add as much as $1 billion to annual government revenue.Economic reform efforts have been undertaken with the support of international organizations, notably the World Bank and the IMF, including recently concluded Article IV consultations. The current administration faces difficult economic challenges of stimulating recovery and reducing poverty. The recent drop in oil prices has constrained government spending; lower oil prices forced the government to cut more than $1 billion in planned spending. However, the government increased infrastructure spending for the September 2015 All-Africa Games and is also increasing election spending ahead of the July 2016 presidential election, putting further pressure on the budget.Officially the country became a net external creditor as of 2011, with external debt representing only about 16% of GDP and debt servicing less than 3% of government revenue.

GDP (purchasing power parity):
$28.92 billion (2015 est.) $28.64 billion (2014 est.) $26.8 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 130
[see also: GDP country ranks ]

GDP (official exchange rate):
$8.871 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1% (2015 est.) 6.8% (2014 est.) 3.3% (2013 est.)
country comparison to the world: 173
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$6,800 (2015 est.) $6,700 (2014 est.) $6,300 (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 154
[see also: GDP - per capita country ranks ]

Gross national saving:
26.5% of GDP (2015 est.) 32.8% of GDP (2014 est.) 26.5% of GDP (2013 est.)
country comparison to the world: 40
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 48.2%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 14%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 43.8%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 61.6%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -67.7% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 4.9%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 68.8%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 26.3% (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cassava (manioc, tapioca), sugar, rice, corn, peanuts, vegetables, coffee, cocoa; forest products

Industries:
petroleum extraction, cement, lumber, brewing, sugar, palm oil, soap, flour, cigarettes

Industrial production growth rate:
1.3% (2015 est.)
country comparison to the world: 136
[see also: Industrial production growth rate country ranks ]

Labor force:
1.807 million (2013 est.)
country comparison to the world: 125
[see also: Labor force country ranks ]

Unemployment rate:
53% (2012 est.)
country comparison to the world: 201
[see also: Unemployment rate country ranks ]

Population below poverty line:
46.5% (2011 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 37.1% (2005)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $3.896 billion
[see also: Budget revenues country ranks ]
expenditures: $4.747 billion (2015 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
43.9% of GDP (2015 est.)
country comparison to the world: 29
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-9.6% of GDP (2015 est.)
country comparison to the world: 201
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
47.3% of GDP (2015 est.) 36.5% of GDP (2014 est.)
country comparison to the world: 89
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.1% (2015 est.) 0.1% (2014 est.)
country comparison to the world: 113
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2009) 4.75% (31 December 2008)
country comparison to the world: 96
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
14.8% (31 December 2015 est.) 14.8% (31 December 2014 est.)
country comparison to the world: 43
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$4.08 billion (31 December 2015 est.) $4.223 billion (31 December 2014 est.)
country comparison to the world: 104
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$4.875 billion (31 December 2015 est.) $4.858 billion (31 December 2014 est.)
country comparison to the world: 132
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$362.9 million (31 December 2015 est.) $44.13 million (31 December 2014 est.)
country comparison to the world: 177
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.346 billion (2015 est.) -$1.273 billion (2014 est.)
country comparison to the world: 129
[see also: Current account balance country ranks ]

Exports:
$5.855 billion (2015 est.) $9.12 billion (2014 est.)
country comparison to the world: 104
[see also: Exports country ranks ]

Exports - commodities:
petroleum, lumber, plywood, sugar, cocoa, coffee, diamonds

Exports - partners:
China 52%, Australia 8.3%, Italy 8.2%, US 4% (2014)

Imports:
$3.779 billion (2015 est.) $4.939 billion (2014 est.)
country comparison to the world: 135
[see also: Imports country ranks ]

Imports - commodities:
capital equipment, construction materials, foodstuffs

Imports - partners:
Algeria 47.8%, China 10.6%, France 9%, Italy 4.3% (2014)

Reserves of foreign exchange and gold:
$4.407 billion (31 December 2015 est.) $4.939 billion (31 December 2014 est.)
country comparison to the world: 98
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$3.763 billion (31 December 2014 est.) $3.452 billion (31 December 2013 est.)
country comparison to the world: 136
[see also: Debt - external country ranks ]

Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - 580.5 (2015 est.) 494.42 (2014 est.) 494.42 (2013 est.) 510.53 (2012 est.) 471.87 (2011 est.)