The economy of Gabon is largely dependent on the exploitation of mineral and forest resources, particularly oil. While Gabon’s gross domestic product of $3,600 per capita in 1999 was the highest in Africa, the economy fluctuates with world petroleum prices. The national budget in 1993 included revenues of $1.3 billion and expenditures of 1.6 billion.

Gabon's economy has more links with European and American markets than with those in neighbouring states (with the exception of Cameroon) or elsewhere in Africa. The economy shares some of the characteristics of those of other tropical African states: strong links with the former colonial ruler, a large degree of foreign investment and control, dependence on foreign technicians, and the decline of agriculture. Gabon differs from these states in its reliance on thousands of wage earners from other African countries to supplement its own sparse supply of workers in retailing, artisanship, and domestic transport.

Gabon enjoys a per capita income four times that of most nations of sub-Saharan Africa. This has supported a sharp decline in extreme poverty; yet because of high income inequality a large proportion of the population remains poor. Gabon depended on timber and manganese until oil was discovered offshore in the early 1970s. The oil sector now accounts for 50% of GDP. Gabon continues to face fluctuating prices for its oil, timber, manganese, and uranium exports. Despite the abundance of natural wealth, 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% on 12 January 1994 sparked a one-time inflationary surge, to 35%; the rate dropped to 6% in 1996. The IMF provided a one-year standby arrangement in 1994-95, a three-year Enhanced Financing Facility (EFF) at near commercial rates beginning in late 1995, and stand-by credit of $119 million in October 2000. Those agreements mandate progress in privatization and fiscal discipline. France provided additional financial support in January 1997 after Gabon had met IMF targets for mid-1996. In 1997, an IMF mission to Gabon criticized the government for overspending on off-budget items, overborrowing from the central bank, and slipping on its schedule for privatization and administrative reform. The rebound of oil prices in 1999-2000 helped growth, but drops in production hampered Gabon from fully realizing potential gains. An expected decline in oil output may lead to contraction in GDP in 2001-02.