A country with many mineral resources
Gabon's natural resources are immense and diverse. Oil production began in 1956 at Ozouri, south of Port-Gentil, while manganese has been mined by Comilog (Compagnie minière de l'Ogooué) since 1953, and uranium, gold and diamonds were discovered between 1940 and 1950. By 1970, the vast majority of resources came from mining: oil in Ogooué-Maritime, manganese and uranium in the Haut-Ogooué region. Uranium mining was abandoned in 1999, due to the low profitability of the deposits. Not all resources, such as gold, diamonds and cobalt, are currently exploited, but represent potential reserves. In 2013, the oil industry accounted for around 50% of GDP, but with the price of oil falling by around 40% in 2014, oil's share of GDP fell to just 31.6% the following year. The United States is the leading buyer, leaving China, Singapore and France to share the rest. However, thanks to the mining industry, particularly manganese, the country climbed to second place in sub-Saharan Africa for GDP per capita, putting Gabon in a comfortable economic position.
Having benefited from exceptional oil revenues, Gabon is now suffering from the drop in oil prices; not to mention the decline in production levels, which fell by 6% in 2018. The long-term outlook is worrying, unless exploration in the deep ocean basin reproduces the same results as off South Angola. With its new petroleum code, Gabon intends to boost investment by offering companies tax breaks and preferential rates. Manganese, mined by Comilog (66% owned by France's Eramet), accounts for 6% of GDP and 10% of the country's exports. In 2009, production fell sharply, but in 2013, an exceptional year, the effective recovery in global steel production boosted Gabonese output to 3.7 Mt. The manganese metallurgical complex, inaugurated in 2015, is a strong signal of commitment and confidence on the part of a French operator. The country is currently the world'sleading manganese producer, with 6.6 million tonnes by 2023. The sector has been promising since Comilog opened the Okouma mining site, creating 250 direct jobs and boosting production. With natural gas reserves of around 30 billion cubic meters, the country is keen to develop this resource to generate new sources of revenue for the country. Gabon's economy is therefore highly dependent on foreign policy, given the global stakes involved in the oil and mining sectors more generally.
Palm oil, a promising financial windfall
To break its economic dependence on oil, Gabon has been investing in palm oil production for a number of years. To develop this agricultural sector, it has called on the Singaporean agribusiness group Olam, which, through its subsidiary Olam Palm, has established itself in Gabon. The company now operates over 200,000 hectares of land, two palm oil mills, a crushing plant and a refinery producing cooking oil for the Gabonese market. With production set to reach 120,000 tonnes by 2022, compared with almost 50,000 tonnes in 2018, the sector is in good health. However, although Gabon boasts the largest palm oil factory in sub-Saharan Africa, it remains absent from the top 10 palm oil-producing countries in Africa. The country intends to increase production in the coming years, much to the dismay of environmentalists. They point out that oil palm plantations involve the destruction of the equatorial forest and its ecosystems. However, Gabon supports sustainability by encouraging companies to move towards certification, and has adopted the RSPO(Roundtable on Sustainable Palm Oil) as its national standard. The largest RSPO-certified producer in Africa, Olam Palm Gabon claims to be committed to sustainable forest management and to working with local populations. However, the company is under investigation for failing to meet its commitments on certain plantations in Gabon. Although this financial windfall promises to have a bright future, Gabon will have to keep a close eye on the harmful environmental consequences of this intensive production.
The wood industry, an increasingly protected sector
The timber industry underwent a major change when Ali Bongo came to power. The biggest decision since he came to power was to veto timber exports in 2010. This requires wood to be processed locally, so that the industry can better contribute to the Gabonese economy. This radical and controversial decision initially led to a crisis in the industry, but is now enabling the timber sector to develop in local rather than foreign factories. Incentives for the wood processing industry implemented in 2010, together with reforestation decisions by the Ministry of Water and Forests, have helped to turn the sector around. In 2020, the Gabonese government announced the planting of 200,000 hectares of timber in Gabon by 2025, creating almost 20,000 jobs in the country and doubling timber production in 10 years. After dropping in 2010 to 1.9 millionm3 of logs produced, it has risen to over 4 millionm3 of logs by 2022. The sustainable management of forest ecosystems and the enhancement of biodiversity are key aspects of government policy and the country's economic development strategy. These are major themes for an "emerging Gabon". These sectors of activity are seen as diversification paths and sustainable economic alternatives to the oil sector.
The place of tourism
Representing around 4% of national GDP, tourism is struggling to develop in the country for a number of reasons. Firstly, the relatively high cost of travel dampens the enthusiasm of many tourists. As a result, tourism in Gabon remains a privilege for a small segment of the world's population and the most affluent members of Gabonese society. Even so, the Gabonese still prefer to travel abroad than in their own country, with the exception of returning to their home village. What's more, tourism infrastructure is still underdeveloped, given the potential of Gabon's natural environment. Even parks as emblematic as Loango and Lopé offer few alternatives in terms of accommodation. And what can we say about more remote but equally rich parks such as Moukalaba-Doudou, where accommodation options remain virtually non-existent? Not to mention the high price of accommodation, many of which offer poor value for money. With poorly maintained road infrastructure and heavy rains that regularly damage it, it's difficult, if not impossible in some places, to discover the interior of the country. There are a few flights between the country's major cities, but they are expensive. Tourists will find it hard to obtain the tourist information they need without using a travel agency. There is only one information point at Libreville airport, and the rest of the country has no tourist offices, even in the major cities. If it is to develop this sector, Gabon will need to set up training courses in reception, information, guiding and hotel management, which are essential ingredients in the development of quality services and guarantee the survival of structures. However, there is a desire to develop the industry, focusing on ecotourism as a means of preserving the environment and local populations. The willingness to support the private sector, coupled with investment incentives from major international groups, suggests that the tourism sector is becoming a real economic player on the Gabonese landscape. At present, private tourism operators incur significant operating, maintenance and innovation costs for structures and road networks. Some have formed associations or clubs to make their voices heard and defend their interests. Such is the case of the Club du Tourisme, which brings together some thirty companies (hoteliers, tour operators, transport companies, etc.). To demonstrate its determination to make this sector one of the country's economic engines, the Ministry of Tourism and Handicrafts launched a Mission d'Identification du Potentiel Touristique du pays at the end of 2023 to better promote Gabon's tourist sites. The sector hopes that the new government will give tourism a new lease of life.
