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Gabon Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
2,119,036 (July 2018 est.)GDP (PPP)
$36.66 billion (2017 est.)From 2010 to 2016, oil accounted for approximately 80% of Gabon’s exports, 45% of its GDP, and 60% of its state budget revenues.
GDP growth rate
0.5% (2017 est.)GDP grew nearly 6% per year over the 2010-14 period, but slowed significantly from 2014 to just 1% in 2017 as oil prices declined.
GDP (PPP) per capita
$18,100 (2017 est.)Gabon’s oil revenues have given it one of the highest per capita income levels in sub-Saharan Africa, but the wealth is not evenly distributed and poverty is widespread.
Local currency
Cooperation Financiere en Afrique Centrale francs (XAF)Pegged to the Euro.
Financial stability (Public debt)
62.7% of GDP (2017 est.)Low oil prices also weakened government revenue and negatively affected the trade and current account balances. In the wake of lower revenue, Gabon signed a 3-year agreement with the IMF in June 2017.
Inflation
2.7% (2017 est.)Medium.
Language
French (official), Fang, MyeneEnglish is not spoken, though the government intends to introduce English as a first foreign language in schools.
Corruption perception index (Source: Transparency International)
124/180Very high level of corruption.
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
18%10% applies to certain manufacturing operations. 5% applies to sales and services relating to cement.
Corporate Tax
30%The CIT rate is 35% for companies operating in the oil and mining sectors; 25% for IP companies and authorized tourism companies. Non-resident companies shall be taxed via withholding tax (WHT) at the rate of 20% for income raised in Gabon.
Duties
N/AGabon is member of the Central African Economic and Monetary Community (CEMAC), a customs union that comprises countries from Central Africa. Merchandise entering into the CEMAC customs territory is subject to importation duties registered into the Customs Tariff.
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