Gabon Tenders

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The economy of Gabon is characterized by strong links with France, large foreign investments, dependence on skilled foreign labor, and decline of agriculture. Gabon enjoys a per capita income four times that of most nations of sub-Saharan Africa, its reliance on resource extraction industry releasing much of the population from extreme poverty. The oil sector now accounts for 50% of GDP and 80% of exports. Although there have been recent offshore finds, oil production is now declining from its peak of 370,000 barrels per day in 1997, and periods of low oil prices have had a negative impact on government revenues and the economy. In 2012 there were six active oil rigs in Gabon. The government announced in 2012 that it would reassess exactly how much iron ore the Belinga site contains before awarding the concession to a mining company, most likely to be China's CMEC, which temporarily secured the rights to the ore in 2007.