Macroeconomic Forecast Oil Bolsters Current Account

March 2008 | Macroeconomic Forecasts

BMI View: On the back of rising oil prices we see exports rising in 2008 to US$7.4bn from US$6.5bn in 2007. Imports should similarly rise over the period, though not by as large an amount, to US$2.2bn from US$2.0bn. Gabon's healthy current account surplus, forecast to rise to US$2.0bn in 2008 from US$1.8bn in 2007, is one reason for investor confidence in the country's 2007 US$1bn eurobond.

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