Foreign trade figures of Gabon

Foreign Trade in Figures

Foreign trade account for 73% of the country's GDP (World Bank, 2021). Customs duties are relatively high and some other non-tariff barriers also exist, aiming to protect the local industries. Gabon mainly exports mineral fuels and oils, boats, wood products, manganese ores, and machinery; and mainly imports boats, machinery, electrical machinery, vehicles, meat and other food products, mineral fuels, iron, cereals, pharmaceutical products and plastics (ITC, 2021).

Gabon's main export partners are China, India, Cameroon, Congo and Korea (ITC, 2021). France, Singapore, China and the USA are Gabon’s main suppliers (ITC, 2021). Gabon is a member of the CEMAC (Monetary and Economic Community of Central Africa), which through the Monetary Union of Central Africa provides its six members with a common currency, the CFA franc, which is pegged to the euro. The country is also a member of the Economic Community of Central African States (ECCAS), but the economic integration of the group's eleven member states is far from being complete. Gabon has also signed the African Continental Free Trade Agreement.

Gabon’s trade balance is structurally in surplus, thanks to the revenues generated by oil exports. In 2021, total exports of goods amounted to USD 5.96 billion while total imports reached USD 3.44 billion, resulting in a comfortable trade surplus (WTO). On the side of service, in 2016, Gabon’s service export amounted to 357 million USD while its services import cost 1.79 billion USD (WTO).