Foreign trade figures of Gabon

Foreign Trade in Figures

Foreign trade accounts for 73% of the country's GDP (World Bank, latest data available). Customs duties are relatively high, and some other non-tariff barriers also exist, aiming to protect the local industries. Gabonese exports remain heavily focused on traditional sectors such as oil, manganese, and timber. In 2021, petroleum accounted for 67% of exports, timber for 15%, and manganese for 10% (data French Ministry of Economy). Imports are led by boats, machinery, electrical machinery, vehicles, meat and other food products, mineral fuels, iron, cereals, pharmaceutical products, and plastics (ITC).

Gabonese exports are subject to market fluctuations and the euro/dollar exchange rate differential. Despite experiencing a 28% decrease in 2021, Asia, with China leading, remained the top export destination, accounting for 33% of exports (XAF 1066 billion). India surged to become the country's second-largest customer, with purchases increasing significantly (XAF 478 billion, +263%). Europe captured 23% of Gabon's sales, up 44% from 2020, primarily led by Italy (7%) and the Netherlands (6%). In terms of imports, France remained the top supplier with a stable market share in 2021, at 25%. However, French sales to Gabon decreased by 4%. The ranking of suppliers remained stable with Belgium as the 2nd supplier (12% of imports), closely followed by China (11%). China was thus the top customer and the 3rd supplier of the country, and with 27% of Gabon's total trade, it by far constituted the country's leading trading partner (data French Ministry of Economy).

Gabon’s trade balance is structurally in surplus, thanks to the revenues generated by oil exports. In 2022, total exports of goods amounted to USD 9.2 billion while total imports reached USD 4.6 billion, resulting in a comfortable trade surplus (WTO). On the side of services, Gabon’s service export amounted to USD 201 million while its services import cost USD 1.6 billion (WTO). The overall trade balance for goods and services was estimated to be positive by 44.8% of GDP in 2022 by the World Bank.