The official language is French. It has a free-market economy in which the dominant sector is private. It maintains favourable laws towards foreign investment. The local currency is the CFA-franc. Despite its natural wealth, poor fiscal management hinders the economy of Gabon.
Income inequality is a severe problem.
The economy is dependent on oil and thus affected by price fluctuations. Diversification of products as well as the restructuring and reducing of the civil service and a privatisation program are ways in which the government hope to improve economic growth. The Gabon oil industry is key to the economy of the country and is its most important natural resource. In particular the upstream oil industry is its major source of foreign exchange, accounting for the majority of all exports. The downstream oil industry is also well-developed with an oil refinery at Port Gentil and a number of international oil companies active in the distribution and marketing of petroleum products.