Publication: Gabon Economic Update - Trading Agricultural Commodities: Reducing Petty Harassment
Date
2022-06
ISSN
Published
2022-06
Author(s)
World Bank Group
Abstract
Gabon’s economic recovery has been
intensifying, with oil and other commodities projected to
drive GDP growth to 2.7 percent in 2022, up from 1.5 percent
in 2021. The fiscal stance improved in 2021 amid contained
spending and is expected to turn into a surplus in 2022.
While debt-to-GDP remains sustainable amidst gradual
economic recovery and high oil prices, debt arrears remain
high. The uptick in oil prices compensated for the decline
in production and led to a trade surplus in 2021, which is
expected to remain high in 2022. Food insecurity could be
exacerbated by the ongoing war in Ukraine as Gabon is highly
vulnerable to shocks in the agricultural sector. The
government has adopted plans to increase agricultural
production. Despite the government’s efforts to increase
agricultural production, Gabon’s agricultural trade remains
hampered by structural bottlenecks related to weak
supporting infrastructure, the high number of
intermediaries, and price uncertainty. Informal payments and
obstacles for imports into Gabon, including petty
harassment, add to already high import duties and can
contribute to informality, unpredictability, and delays in
border crossing and transport network. Reducing petty
harassment would support trade in agriculture, reduce the
overall cost of living for the population, and foster
economic growth in Gabon.
Citation
“World Bank Group. 2022. Gabon Economic Update - Trading Agricultural Commodities; Note de Conjoncture Économique du Gabon - Commerce de Matières Premières Agricoles : Réduire les Tracasseries : Reducing Petty Harassment. © Washington, DC: World Bank. http://openknowledge.worldbank.org/handle/10986/38370 License: CC BY 3.0 IGO.”