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...
Africa Economy
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Articles & Analysis | Integration is continuing to move forward, although progress has remained somewhat patchy from The Report: Gabon 2014
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Classified by the World Bank as an upper-middle income country, Gabon enjoys an average per capita income – estimated at €8950 in 2013 – that is far higher than the sub-Saharan Africa developing country average of €1212.
Oil revenues have sustained the economy, accounting for 56% of total government revenues and 80% of total exports by value, according to US Energy Information...
Chapter | Country Profile from The Report: Gabon 2014
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....
With just 1.63m people, Gabon is the second-smallest member of the six-country Central African Economic and Monetary Community in terms of population, after Equatorial Guinea. However, the country’s well-developed hydrocarbons sector has made Gabon the second-largest economy in the sub-region.
Africa’s second-largest economy, South Africa, has been grappling with headwinds throughout early 2014, although it narrowly avoided slipping into a recession in the second quarter. The country’s long-term fundamentals remain fairly attractive but the new cabinet will have a tricky job stimulating growth over the remainder of the year.