Gabon flag Gabon: Economic and Political Overview

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).

 
Foreign Trade Values 20172018201920202021
Imports of Goods (million USD) 3,0123,0823,1402,9373,444
Exports of Goods (million USD) 5,6786,5046,6204,9035,962
Imports of Services (million USD) 00000
Exports of Services (million USD) 00000

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20172018201920202021
Foreign Trade (in % of GDP) 75.177.073.470.172.6
Imports of Goods and Services (Annual % Change) -7.351.225.5-6.04.3
Exports of Goods and Services (Annual % Change) 3.91.414.010.0-1.0
Imports of Goods and Services (in % of GDP) 24.822.722.022.616.8
Exports of Goods and Services (in % of GDP) 50.254.351.447.555.8

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20222023 (e)2024 (e)2025 (e)2026 (e)
Volume of exports of goods and services (Annual % change) -12.910.84.72.62.0
Volume of imports of goods and services (Annual % change) 8.50.10.92.94.1

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Member of World Trade Organization (WTO)
Member of Economic and Monetary Community of Central Africa (CEMAC)
Member of African Union (AU)
Member of Organisation for the Harmonization of Corporate Law in Africa (OHADA)
 
 
 
 
 

To go further, check out our service Import Export Flows.

 

Main Services

0.2 bn USD of services exported in 2017
39.81%
31.86%
17.79%
2.49%
2.46%
2.22%
1.42%
1.28%
0.64%
0.02%
1.8 bn USD of services imported in 2017
34.17%
30.63%
18.33%
6.29%
5.12%
4.30%
0.38%
0.33%
0.28%
0.17%

Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: May 2023