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Cameroon Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Cameroon Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Cameroon’s market-based, diversified economy features oil and gas, timber, aluminum, agriculture, mining and the service sector. Oil remains Cameroon’s main export commodity, and despite falling global oil prices, still accounts for nearly 40% of exports. 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, as low oil prices have led to lower revenues.Cameroon devotes significant resources to several large infrastructure projects currently under construction, including a deep seaport 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):
$81.55 billion (2017 est.) $78.44 billion (2016 est.) $74.94 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 94

GDP (official exchange rate):
$30.65 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4% (2017 est.) 4.7% (2016 est.) 5.8% (2015 est.)
country comparison to the world: 73
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$3,400 (2017 est.) $3,300 (2016 est.) $3,200 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 188

Gross national saving:
16.5% of GDP (2017 est.) 16.5% of GDP (2016 est.) 17.2% of GDP (2015 est.)
country comparison to the world: 114
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 71.3%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 12.2%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.5%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 19.5%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -23.8% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 23.1%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 28%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 48.9% (2017 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:
4% (2017 est.)
country comparison to the world: 65
[see also: Industrial production growth rate country ranks ]

Labor force:
9.912 million (2017 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:
4.3% (2014 est.) 30% (2001 est.)
country comparison to the world: 58
[see also: Unemployment rate country ranks ]

Population below poverty line:
30% (2001 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 37.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 35.4% (2014 est.)

Distribution of family income - Gini index:
44.6 (2001) 46.5 (2014 est.)
country comparison to the world: 41
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $5.154 billion
[see also: Budget - revenues country ranks ]
expenditures: $6.964 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
16.8% of GDP (2017 est.)
country comparison to the world: 178
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-5.9% of GDP (2017 est.)
country comparison to the world: 173
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
32.3% of GDP (2017 est.) 30.5% of GDP (2016 est.)
country comparison to the world: 155
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
0.7% (2017 est.) 0.9% (2016 est.)
country comparison to the world: 24
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2009)
country comparison to the world: 85
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
13% (31 December 2017 est.) 12.5% (31 December 2016 est.)
country comparison to the world: 61
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$4.374 billion (31 December 2017 est.) $3.86 billion (31 December 2016 est.)
country comparison to the world: 109
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$7.102 billion (31 December 2017 est.) $6.33 billion (31 December 2016 est.)
country comparison to the world: 116
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$6.427 billion (31 December 2017 est.) $5.714 billion (31 December 2016 est.)
country comparison to the world: 121
[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: 117
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.095 billion (2017 est.) -$1.065 billion (2016 est.)
country comparison to the world: 135
[see also: Current account balance country ranks ]

Exports:
$5.158 billion (2017 est.) $4.561 billion (2016 est.)
country comparison to the world: 108
[see also: Exports country ranks ]

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

Exports - partners:
Netherlands 21%, India 11.3%, Italy 11%, China 8%, Spain 6.7%, France 5.9% (2016)

Imports:
$5.334 billion (2017 est.) $4.784 billion (2016 est.)
country comparison to the world: 120
[see also: Imports country ranks ]

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

Imports - partners:
China 17.8%, Nigeria 12%, France 11%, Thailand 4.6%, Togo 4.5% (2016)

Reserves of foreign exchange and gold:
$2.357 billion (31 December 2017 est.) $2.26 billion (31 December 2016 est.)
country comparison to the world: 114
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$8.238 billion (31 December 2017 est.) $7.364 billion (31 December 2016 est.)
country comparison to the world: 121
[see also: Debt - external country ranks ]

Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - 605.3 (2017 est.) 593.01 (2016 est.) 593.01 (2015 est.) 591.45 (2014 est.) 494.42 (2013 est.)


NOTE: 1) The information regarding Cameroon on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cameroon Economy 2018 information contained here. All suggestions for corrections of any errors about Cameroon Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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