Gabon

Since the launch of the Emerging Gabon plan in 2009, the country has unveiled a number of measures to try to reduce its dependency on its flagship hydrocarbons sector – a process that has become all the more urgent as oil prices have fallen.

Oil remains the lifeblood of Gabon’s economy, representing half of state revenues and around 80% of its export earnings in 2014. The country benefits from relatively light, sweet crude from accessible onshore deposits, and has potential in deep offshore blocks. However, the absence of any major new oil discoveries, declining production at mature...

Even amid a drop in the price of oil, the country’s chief export, Gabon has seen stable growth over the past five years, aided in part by a large government spending campaign that has sought to encourage greater diversification. According to the World Bank’s 2015 “Doing Business” report, the country has maintained its edge as the most attractive...

Although it remains deeply influenced by its historical ties to Europe, Gabon has strived in recent years to broaden its economic and diplomatic partners. France remains one of the country’s closest trading partners and also one of its largest investors. With several emerging economic powers from elsewhere in Asia and Africa playing a bigger...

A sharp drop in the price of oil has prompted Gabon to revise its expenditure plans. In light of decreasing revenues from its major export earner, authorities have started to take action. In early 2015, faced with oil prices of under $50 per barrel, the government organised a seminar to discuss the issue, announcing that a revision of the budget...