<p>The purpose of this study on Moving to the Diversification of the Gabonese Economy is to help design industrial policies that are geared towards economic growth and poverty reduction in Gabon. This study examines economic and institutional constraints on the private sector, highlights measures to stimulate or revitalize key diversification sectors and makes recommendations by referring to Korea’s experience of economic development. In 2010, Gabon had GDP of US$12.2 billion with per capita GDP of US$7,563, due largely to its abundant natural resources and small population.</p>
<p>Gabon’s economy is dominated by the extractive sectors of oil, timber and manganese, but the growth of these did not translate into meaningful results in non-extractive exports. The oil sector, which accounts for 50% of GDP, does not provide many direct job opportunities and has not contributed to inter-sector flows.</p>