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Gabon Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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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, Myene

English is not spoken, though the government intends to introduce English as a first foreign language in schools.

Corruption perception index (Source: Transparency International)
124/180

Very 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/A
Gabon 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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