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Analysis by Region - Emerging Markets - Gabon

Publisher Oxford Economics
Published Apr 06, 2023
Length 6 Pages
SKU # OFE17888513

Description

Analysis by Region - Emerging Markets - Gabon

The Gabonese economy struggled over the 2016-2021 period as the oil sector suffered a string of external shocks. Real GDP growth averaged 1.2% p.a. over this period. This trend reversed in 2022 after Russia invaded Ukraine, resulting in a squeeze on global oil supply and prompting a surge in oil prices. This, coupled with higher domestic oil output, caused real GDP growth in Gabon to reach 2.8% last year. Production is set to rise further over the near term and this, along with elevated, albeit easing, oil prices will boost the economy in the coming years. We forecast real GDP growth of 2.9% for 2023 before it will inch gradually higher to a peak of 3.6% by 2026.

Table of Contents

6 Pages
Gabon: High oil prices and output to sustain Near-term Growth
Forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term Forecast
Economic risk
Economic risk evaluation
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

Pricing

Currency Rates
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