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.
3.5% (2017 est.)
4.6% (2016 est.)
5.7% (2015 est.)
2.4% (2019 est.)
1% (2018 est.)
0.6% (2017 est.)
Fitch rating: B (2006)
Moody's rating: B2 (2016)
Standard & Poors rating: B- (2020)
$94.248 billion (2019 est.)
$90.868 billion (2018 est.)
$87.32 billion (2017 est.)
note: data are in 2017 dollars
$34.99 billion (2017 est.)
$3,642 (2019 est.)
$3,604 (2018 est.)
$3,555 (2017 est.)
note: data are in 2017 dollars
17.7% of GDP (2018 est.)
18.2% of GDP (2017 est.)
23.9% of GDP (2015 est.)
agriculture: 16.7% (2017 est.)
industry: 26.5% (2017 est.)
services: 56.8% (2017 est.)
household consumption: 66.3% (2017 est.)
government consumption: 11.8% (2017 est.)
investment in fixed capital: 21.6% (2017 est.)
investment in inventories: -0.3% (2017 est.)
exports of goods and services: 21.6% (2017 est.)
imports of goods and services: -20.9% (2017 est.)
Overall score: 46.1 (2020)
Starting a Business score: 86.3 (2020)
Trading score: 16 (2020)
Enforcement score: 39.9 (2020)
cassava, plantains, maize, oil palm fruit, taro, sugar cane, sorghum, tomatoes, bananas, vegetables
petroleum production and refining, aluminum production, food processing, light consumer goods, textiles, lumber, ship repair
3.3% (2017 est.)
9.912 million (2017 est.)
agriculture: 70%
industry: 13%
services: 17% (2001 est.)
4.3% (2014 est.)
30% (2001 est.)
37.5% (2014 est.)
46.5 (2014 est.)
46.6 (2014 est.)
lowest 10%: 37.5%
highest 10%: 35.4% (2001)
revenues: 5.363 billion (2017 est.)
expenditures: 6.556 billion (2017 est.)
15.3% (of GDP) (2017 est.)
-3.4% (of GDP) (2017 est.)
36.9% of GDP (2017 est.)
32.5% of GDP (2016 est.)
1 July - 30 June
-$932 million (2017 est.)
-$1.034 billion (2016 est.)
$4.732 billion (2017 est.)
$4.561 billion (2016 est.)
China 17%, Netherlands 14%, Italy 9%, United Arab Emirates 8%, India 7%, United States 6%, Belgium 6%, Spain 5%, France 5% (2019)
crude petroleum, cocoa beans, lumber, gold, natural gas, bananas (2019)
$4.812 billion (2017 est.)
$4.827 billion (2016 est.)
China 28%, Nigeria 15%, France 9%, Belgium 6% (2019)
crude petroleum, scrap vessels, rice, special purpose ships, packaged medicines (2019)
$3.235 billion (31 December 2017 est.)
$2.26 billion (31 December 2016 est.)
$9.375 billion (31 December 2017 est.)
$7.364 billion (31 December 2016 est.)
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: The information regarding Cameroon on this page is re-published from the 2021 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Cameroon 2021 information contained here. All suggestions for corrections of any errors about Cameroon 2021 should be addressed to the CIA or the source cited on each page.
This page was last modified 16 Dec 23, Copyright © 2023 ITA all rights reserved.