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Cameroon Economy 2017
https://theodora.com/wfbcurrent/cameroon/cameroon_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Cameroon Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Modest oil resources and favorable agricultural conditions provide Cameroon with one of the best-endowed primary commodity economies in Sub-Saharan Africa. Oil remains Cameroon’s main export commodity, and despite falling global oil prices, still accounts for nearly 40% of export earnings. Cameroon’s economy suffers from factors that often impact underdeveloped countries, such as stagnant per capita income, a relatively inequitable distribution of income, a top-heavy civil service, endemic corruption, continuing inefficiencies of a large parastatal system in key sectors, and a generally unfavorable climate for business enterprise.Since 1990, the government has embarked on various IMF and World Bank programs designed to spur business investment, increase efficiency in agriculture, improve trade, and recapitalize the nation's banks. The IMF continues to press for economic reforms, including increased budget transparency, privatization, and poverty reduction programs. The Government of Cameroon provides subsidies for electricity, food, and fuel that have strained the federal budget and diverted funds from education, healthcare, and infrastructure projects, especially in 2015, as low oil prices have led to lower revenues.Cameroon devotes significant resources to several large infrastructure projects currently under construction, including a deep sea port in Kribi and the Lom Pangar Hydropower Project. Cameroon’s energy sector continues to diversify, recently opening a natural gas powered electricity generating plant. Cameroon continues to seek foreign investment to improve its inadequate infrastructure, create jobs, and improve its economic footprint, but its unfavorable business environment remains a significant deterrent to foreign investment.

GDP (purchasing power parity):
$77.24 billion (2016 est.) $73.7 billion (2015 est.) $69.66 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 95
[see also: GDP country ranks ]

GDP (official exchange rate):
$30.87 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.8% (2016 est.) 5.8% (2015 est.) 5.9% (2014 est.)
country comparison to the world: 45
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$3,300 (2016 est.) $3,200 (2015 est.) $3,100 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 187
[see also: GDP - per capita country ranks ]

Gross national saving:
17.7% of GDP (2016 est.) 17.6% of GDP (2015 est.) 18.6% of GDP (2014 est.)
country comparison to the world: 102
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 76.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 12.1%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 22.7%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.2%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 20.3%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -32.1% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 21.3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 30.8%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 47.9% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
coffee, cocoa, cotton, rubber, bananas, oilseed, grains, cassava (manioc, tapioca); livestock; timber

Industries:
petroleum production and refining, aluminum production, food processing, light consumer goods, textiles, lumber, ship repair

Industrial production growth rate:
5.2% (2016 est.)
country comparison to the world: 32
[see also: Industrial production growth rate country ranks ]

Labor force:
9.612 million (2016 est.)
country comparison to the world: 53
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 70%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 13%
[see also: Labor force - by occupation - industry country ranks ]
services: 17% (2001 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
30% (2001 est.)
country comparison to the world: 187
[see also: Unemployment rate country ranks ]

Population below poverty line:
48% (2000 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.3%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 35.4% (2001)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
44.6 (2001) 47.7 (1996)
country comparison to the world: 44
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $4.765 billion
[see also: Budget revenues country ranks ]
expenditures: $6.497 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
15.4% of GDP (2016 est.)
country comparison to the world: 187
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-5.6% of GDP (2016 est.)
country comparison to the world: 171
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
31.1% of GDP (2016 est.) 28.6% of GDP (2015 est.)
country comparison to the world: 143
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
2.4% (2016 est.) 2.7% (2015 est.)
country comparison to the world: 126
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2009)
country comparison to the world: 88
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
12.5% (31 December 2016 est.) 13% (31 December 2015 est.)
country comparison to the world: 64
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$3.973 billion (31 December 2016 est.) $3.691 billion (31 December 2015 est.)
country comparison to the world: 107
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$6.514 billion (31 December 2016 est.) $5.993 billion (31 December 2015 est.)
country comparison to the world: 122
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$4.777 billion (31 December 2016 est.) $4.448 billion (31 December 2015 est.)
country comparison to the world: 125
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$230 million (31 December 2012 est.)
country comparison to the world: 116
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.297 billion (2016 est.) -$1.192 billion (2015 est.)
country comparison to the world: 134
[see also: Current account balance country ranks ]

Exports:
$5.559 billion (2016 est.) $5.756 billion (2015 est.)
country comparison to the world: 104
[see also: Exports country ranks ]

Exports - commodities:
crude oil and petroleum products, lumber, cocoa beans, aluminum, coffee, cotton

Exports - partners:
China 16.7%, India 15.7%, Spain 6.2%, Belgium 6.1%, France 6.1%, Portugal 5.6%, Netherlands 5%, Italy 5% (2015)

Imports:
$6.63 billion (2016 est.) $6.5 billion (2015 est.)
country comparison to the world: 114
[see also: Imports country ranks ]

Imports - commodities:
machinery, electrical equipment, transport equipment, fuel, food

Imports - partners:
China 27.9%, Nigeria 13.9%, France 10.9%, Belgium 4.1% (2015)

Reserves of foreign exchange and gold:
$2.416 billion (31 December 2016 est.) $2.714 billion (31 December 2015 est.)
country comparison to the world: 110
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$7.375 billion (31 December 2016 est.) $6.3 billion (31 December 2015 est.)
country comparison to the world: 122
[see also: Debt - external country ranks ]

Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per dollar - 605.7 (2016 est.) 591.45 (2015 est.) 591.45 (2014 est.) 494.42 (2013 est.) 510.53 (2012 est.)


NOTE: The information regarding Cameroon on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cameroon Economy 2017 information contained here. All suggestions for corrections of any errors about Cameroon Economy 2017 should be addressed to the CIA.




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