Economic ascent: Thanks to the leadership of President Faure Gnassingbé, Togo has become Gabon’s 2nd largest supplier after France, relegating China to third place!
At the heart of global trade, Togo, led by the visionary and action-oriented President Faure Gnassingbé, has risen to become the second-largest supplier to Gabon.
This exceptional performance in the third quarter of 2023, according to data from the latest economic report by the Gabonese Ministry of Economy, places Togo in a strong position, just behind France and ahead of major players like China.
The numbers speak for themselves, with a staggering 581.3% increase in Togo’s exports to Gabon during the third quarter of 2023.
This significant breakthrough has positioned Togo as a major player in trade with Gabon, surpassing economically powerful nations.
The international trade dynamics established by President Faure Gnassingbé have contributed to an overall 30.6% increase in Gabon’s imports from its top ten trading partners.
Besides France, which retains the top spot, the country of Faure GNASSINGBE emerges as an economic force, relegating major players like China to the third position.
In this select group alongside Belgium, the United States, the United Arab Emirates, Malta, India, Cambodia, and South Africa, Togo has made a noteworthy entry. These advancements position Togo at the center of trade with Gabon.
The Gabonese Ministry of Economy did not provide specific details about the products imported from Togo, but it was mentioned that oil constitutes a significant portion of these exchanges.
In 2021, Togolese exports to Gabon amounted to 41.6 billion CFA francs, primarily composed of petroleum products.
In this trade panorama, Togo and South Africa are the only African representatives in the exclusive circle of Gabon’s top suppliers.
This reality underscores the growing importance of economic relations between African nations and the emergence of new trade dynamics on the continent.
Overall, Gabon’s imports in the third quarter of 2023 experienced a significant increase of 16.5%, with a notable rise in deliveries from Europe, Asia, and Africa.
This economic dynamic demonstrates the diversification of Gabon’s trading partners and highlights the increasing role of Togo in supplying this Central African country with essential products.
It’s worth noting that, among Gabon’s suppliers, Togo and South Africa stand out as the only African countries in the top 10 during this period, emphasizing the continental scope of these trade relations.
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Kodjovi Makafui
