Gabon’s trade balance recorded a surplus of 3,433.5 billion FCFA in 2024, marking a modest increase from the 3,370.8 billion FCFA achieved the previous year, according to data released by the Bank of Central African States (BEAC).
The positive shift was driven by a 1.6% increase in exports, led by strong performances in key sectors. Manganese exports surged by 14.3%, while wood exports posted a slight rise of 0.2%. Gold exports saw the most significant growth, more than doubling with an impressive 183.3% increase over the year.
However, the oil sector – traditionally a cornerstone of Gabon’s economy – registered a 2.3% decline in sales, tempering the overall export performance. Despite this dip, the diversification of export products contributed to maintaining a healthy trade surplus for the country.
On the import side, Gabon recorded a 1.2% increase, bringing total imports to 2,318.5 billion FCFA in 2024. This growth was mainly driven by an 8% rise in other sectors, while imports from the oil industry declined by 2.3%, partially offsetting the overall upward trend.
The figures highlight Gabon’s gradual progress in diversifying its economy, reducing its overreliance on oil and expanding its export base to include other high-value commodities such as manganese and gold.
With a sustained trade surplus and growing interest in non-oil exports, Gabon continues to strengthen its position in regional and international markets, despite the challenges posed by fluctuating oil prices and shifting global demand.
The 2024 data reflects a cautious yet promising trajectory for the country’s economic stability as authorities aim to bolster key sectors and maintain a balanced trade environment in the years ahead.
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