According to allcitypopulation, Gabon is located in Central Africa and is bordered by Cameroon, Equatorial Guinea and the Republic of the Congo. It has an area of 267,667 square kilometers and a population of roughly 2 million people. According to Petwithsupplies, the capital city of Gabon is Libreville with a population of 834 200 (UN estimate 2020). Other major cities include Port Gentil with a population of 136 500, Masuku (Franceville) with a population of 110 600 (Census 2013). Gabon’s landscape is mostly tropical rainforest with some savanna in the south. The climate is hot and humid with two distinct wet seasons from October to May and a dry season from June to September.
Gabon has a mixed economy that combines elements of both market-based economies and centrally planned economies. The country’s main exports are crude oil, timber and manganese ore which account for over 85% of its export revenues. Other important exports include gold, diamonds, cobalt and uranium oxide which are mainly exported to countries in Europe, Asia and North America. Gabon also imports machinery, vehicles, foodstuffs such as rice, wheat and sugar as well as pharmaceuticals and medical equipment.
The country has experienced steady economic growth over the last decade due to its oil sector which accounts for around 45% of GDP. In addition to oil production, Gabon has also diversified its economy by investing in manufacturing industries such as timber processing and food processing as well as tourism infrastructure development projects.
Foreign Trade of Gabon
Gabon is a major exporter of crude oil, timber, and manganese ore. These commodities account for over 85% of its export revenues. Other important exports include gold, diamonds, cobalt, and uranium oxide which are mainly exported to countries in Europe, Asia, and North America. In terms of imports, Gabon relies heavily on machinery and vehicles for industrial development as well as foodstuffs such as rice, wheat and sugar. Pharmaceuticals and medical equipment are also imported in large quantities.
The main trading partner of Gabon is China which accounts for around 25% of the country’s exports and 16% of its imports. Other important trading partners include France (17%), the United States (15%), Japan (10%), India (8%), South Korea (7%) and the United Arab Emirates (5%).
In recent years, Gabon has made efforts to diversify its economy by investing in manufacturing industries such as timber processing and food processing as well as tourism infrastructure development projects. This has resulted in an increase in foreign investment into the country which has had a positive effect on its foreign trade balance. The government has also implemented various policies to reduce tariffs on imported goods in order to encourage greater economic growth through increased foreign trade.
Overall, Gabon’s foreign trade plays an important role in driving economic growth within the country by providing access to essential goods that cannot be produced domestically. The government is actively working towards further diversifying its economy through strategic investments aimed at boosting exports while continuing to reduce tariffs on imported goods to promote greater economic activity within the country.
Major Trading Partners of Gabon
Gabon’s major trading partners are China, France, the United States, Japan, India, South Korea and the United Arab Emirates. China is the largest trading partner of Gabon accounting for around 25% of the country’s exports and 16% of its imports. This close relationship has been bolstered by Chinese investments in Gabon’s infrastructure projects and mining industry. France is another major trading partner with 17% of Gabon’s exports and 15% of its imports going to France.
The United States is another important trading partner with 15% of Gabon’s exports being sent to the US while 8% of its imports come from there. This strong relationship has been further strengthened by US investments in Gabon’s oil industry as well as its support for economic reforms in the country. Japan is also a major trading partner with 10% of Gabon’s exports and 7% of its imports going to Japan while India accounts for 8% of the country’s imports and 5% of its exports.
Finally, South Korea is an important trading partner with 7% of Gabon’s exports going to South Korea while 5% of its imports come from there. The United Arab Emirates is also an important trading partner with 5 %of Gabon’s exports going to UAE while 2 %of its imports come from there.This strong relationship has been further strengthened by UAE investments in Gabon’s oil industry as well as its support for economic reforms in the country.
Overall, these countries account for a significant portion of both Gabriel’s export and import activity which highlights their importance in driving economic growth within the country through foreign trade.
Major Imports and Exports of Gabon
Gabon’s major exports are petroleum products, timber and wood products, manganese, and gold. Petroleum products account for the majority of Gabon’s exports at around 78%, with timber and wood products accounting for 8%, manganese 7% and gold 5%. Petroleum is an important source of revenue for the country and is mostly exported to China, France, the United States, Japan, India, South Korea and the United Arab Emirates. Timber and wood products are also exported to these countries as well as other African countries such as Nigeria. Manganese is mostly exported to China while gold is mainly exported to Switzerland.
Gabon’s major imports are capital goods such as machinery and transport equipment, foodstuffs, consumer goods and chemicals. Capital goods account for around 41% of Gabon’s imports followed by foodstuffs at 19%, consumer goods at 15% and chemicals at 11%. These imported goods come from a variety of countries including China which accounts for 25% of Gabon’s imports followed by France (15%), the United States (8%), Japan (10%) India (8%) South Korea (7%) and the United Arab Emirates (5%).
Overall, these figures highlight the importance of foreign trade in driving economic growth within Gabon through increased capital investment in its infrastructure projects as well as providing access to foodstuffs that are not locally produced. Furthermore, these exports help to generate revenue for the country which can then be reinvested into further economic development projects.