Craft Village, Libreville – Gabon

DISCOVER GABON

 

  • Country Profile
Gabon enjoys a per capita income four times that of most Sub-Saharan African nations, but because of high income inequality, a large proportion of the population remains poor. Gabon relied on timber and manganese exports until oil was discovered offshore in the early 1970s. In 2010, the economy depended on oil for about 50% of its GDP, 70% of revenues, and 90% of goods exports.
Gabon faces fluctuating prices for its oil, timber, and manganese exports. A rebound of oil prices from 2001 to 2013 helped growth, but declining production, as some fields passed their peak production, has hampered Gabon from fully realizing potential gains. GDP grew nearly 6% per year over the 2010-14 period but slowed significantly in 2015 as oil prices declined. Low oil prices also weakened government revenue and negatively affected the trade and current account balances.
Despite an abundance of natural wealth, poor fiscal management has stifled the economy. There are frequent power cuts and water shortages. However, President BONGO has made efforts to increase transparency and is taking steps to make Gabon a more attractive investment destination to diversify the economy. BONGO has attempted to boost growth by increasing government investment in human resources and infrastructure.

Source: Central Intelligence Agency (CIA) Library

  • AGOA Apparel Status

Gabon was designated as AGOA Eligible Country on October 2nd 2000. Gabon has not yet been declared eligible for Apparel Provision and does not benefit the Lesser Developed Country Special Rule for Apparel (3rd country fabric) nor Lesser Developed Country Rule for Certain Textile Articles (Category 0). Regarding the Category 9 Textile Products, Gabon is not yet eligible to export Handloomed / Handmade, nor the folklore annex and ethnic printed fabrics.