Country Profile
From The Report: Gabon 2014
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Gabon is located on the Gulf of Guinea, surrounded by low- and lower-middle income neighbours. However, the country’s sizable oil resources and limited population have positioned it as one of six upper-middle income countries in sub-Saharan Africa.

Gabon has the second-largest economy in the sub-region. GDP at purchasing power parity reached $29.38bn in 2012, behind Cameroon ($55.35bn), but ahead of oil-rich Equatorial Guinea ($27.6bn). Oil production, however, has declined steadily from a peak of 370,000 barrels per day (bpd) in 1997 to roughly 245,000 bpd as existing fields mature. Under the Emerging Gabon (Plan Stratégique Gabon Emergent, PSGE) development strategy, adopted in 2009, the government aims to reduce its reliance on hydrocarbons and establish a diversified economy by 2025. Gabon’s position as one of the most politically stable countries in Central Africa provides it with a solid base for economic growth. Like many sub-Saharan countries, Gabon still faces challenges related to transparency and efficient governance but successive presidential transitions have been relatively smooth.

This chapter contains interviews with President Ali Bongo Ondimba; Prime Minister Daniel Ona Ondo; and Gao Hucheng, Chinese Minister of Commerce.

Articles from this Chapter

Overview

A history of political stability as well as prudent policy-making have fuelled social and economic progress
OBG
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Gabon is located on the Gulf of Guinea, surrounded by low- and lower-middle income countries, but the country’s sizable oil resources and limited population have positioned it as one of six upper-middle income countries in sub-Saharan Africa. With just 1.63m people, Gabon is the second-smallest of the six-country Central African Economic and Monetary Community (Communauté Économique et Monétaire de l’Afrique Centrale, CEMAC) in terms of population, after Equatorial Guinea, yet Gabon has the…

Overview

Steady goes it: Political and social stability provide a strong basis for growth
OBG
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Gabon’s position as one of the most politically stable countries in Central Africa provides it a solid base for economic growth. Like many sub-Saharan countries, Gabon still faces challenges related to transparency and efficient governance but successive presidential transitions have been relatively smooth. The ruling Gabonese Democratic Party ( Parti Démocratique Gabonais, PDG) continues to eke out electoral victories, but the adoption of a biometric voter registry in 2013 has helped to ensure…

Interview

OBG talks to Prime Minister Daniel Ona Ondo
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Interview: Daniel Ona Ondo How can the development of basic infrastructure boost economic growth and reduce poverty? DANIEL ONA ONDO: Basic infrastructure is crucial in fostering economic growth and reducing poverty in our country. A serious lack of infrastructure is a source of weak performance, and countries that invest in infrastructure certainly experience better growth rates and social indicators. The authorities in Gabon have understood this and thus launched the National Infrastructure Master…

Analysis

Working to diversify political and trade relationships
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After decades of building and reinforcing strong economic and diplomatic ties with Europe, Gabon has been looking to diversify its foreign relationships. By seeking new trade partners, the country intends to leverage its stability and economic growth to support a larger regional role. Bilateral relations with France are among the strongest of Gabon’s diplomatic ties, although they have been subject to ups and downs in recent years. Nonetheless, the two countries have exchanged frequent state visits,…

Analysis

Integration is continuing to move forward, although progress has remained somewhat patchy
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Established in 1994 through a treaty signed by Gabon and five neighbouring states – Cameroon, Central African Republic, Chad, Equatorial Guinea and the Republic of Congo (Congo-Brazzaville) – the Economic Community of Central African States (Communauté Économique et Monétaire de l'Afrique Centrale, CEMAC) regional economic bloc was created as a successor to the Central African Customs and Monetary Union. It aims to harmonise regional policy across economic sectors, in addition to creating…