pillar of the Gabonese economy. Today, logging and manganese mining are the other major income generators. Recent explorations point to the presence of the world's largest unexploited iron ore deposit. For many living in the countryside without access to employment in extractive industries, remittances from family members in urban areas or subsistence activities provide income.
Many foreign and local observers have consistently lamented the lack of diversity in the Gabonese economy. Various factors have so far stymied additional industries—a small market of about 1 million people, dependence on French imports, inability to capitalize on regional markets, lack of entrepreneurial zeal among the Gabonese, and the fairly regular stream of oil "rent". Further investment in agricultural or tourism sectors is complicated by poor infrastructure. The small processing and service sectors that do exist are largely dominated by a few prominent local investors.
At World Bank and IMF insistence, the government embarked in the 1990s on a program of privatization of its state-owned companies and administrative reform, including reducing public sector employment and salary growth, but progress has been slow. The new government has voiced a commitment to work toward an economic transformation of the country but faces significant challenges to realize this goal
