2022 NUMBERS:
997 Billion Total Merchandise Trade                01 Billion Potential Customers                55 African Member States Covered               

CAMEROON

ABOUT

Country

Cameroon

Capital

Yaounde

Location

Central Africa, bordering the Bight of Biafra, between Equatorial Guinea and Nigeria

Area

475,440 sq km

Border Countries

Chad, Central African Republic, Gabon, Nigeria, Equatorial Guinea

Natural Resources

Petroleum, bauxite, iron ore, timber, hydropower

Climate

Varies with terrain, from tropical along coast to semiarid and hot in north

Population

26,545,864 (2020)

Languages

English (official), French (official) and 24 major African language groups

Ethnic Groups

Highlanders, Bantu, Kirdi, Fulani, Nigritic, other African

GDP Growth Rate

0.5% (2022 est.)

GDP per Capita

$ 1,537.1 (2020 est.)

Labour Force/Occupation

Agriculture: 70%, industry: 13%, services: 17% (2001 est.)

Unemployment Rate

3.5% (2014 est.)

GINI index

46.6% (2014)

Population Below Poverty

37.5% (2014 est.)

HDI

0.563 (2019)

Inflation rate

2.4% (2018 est.)

Export Commodities

Crude oil and petroleum products, lumber, cocoa beans, aluminum, coffee, cotton

Agriculture Products

Coffee, cocoa, cotton, rubber, bananas, oilseed, grains, cassava (manioc), livestock; timber

Industries

Petroleum production and refining, aluminum production, food processing, light consumer goods, textiles, lumber, ship repair

Public Debt

43 % of GDP (2020 est.)

Investment

23.76% of GDP (2018 est.)

Trade Balance

$-3.8 billion

Knowledge Center

Investment
Policy
Tax and
Incentives
Investment
Resources

ECONOMY OVERVIEW

Cameroon is a country located in Central Africa. The country is bordered by Nigeria to the west and north; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon and the Republic of the Congo to the south. Like most African countries, Cameroon is endowed with resources and counts; oil, cocoa, coffee, and cotton gas and timber among it’s resources. Cameroon has a market-based, diversified economy. Cameroon’s market-based, diversified economy allowed it for a brief period post-independence, Cameroon was one of the best performing economies in Sub-Saharan Africa. A culmination of factors which included the fall in the price of commodities in the country’s post-independence period, such as the overvaluation of the country’s currency as well economic mismanagement led to the country’s challenges. Cameroon’s GDP currently sits at $38.5 billion US dollars, testament to the many reforms that the country has taken. The country launched a comprehensive poverty reduction strategy aimed at meeting the Millenium Development Goals. This initiative has seen the country make great strides in improving its economy. The GDP annual growth rate as of Q1 2019 was 4.2%, a rise from the previous year’s GDP of 3.5%. The country continues to suffer from the unequal distribution of wealth. The country continues to rely on international debt instruments. The country currently is struggling, as a result of a strained fiscus. Cameroon subsidizes electricity, fuel and food. The country has most recently attracted foreign direct investment but these sorts of investments will take time to come to fruition.

GDP COMPOSITION BY SECTOR

Agriculture 17.38%
Industry 23.35%
Services 51.98%
GDP Growth Rate 0.5%
$1,537GDP per
Capita

TRADE

Natural Resources Industries
Petroleum Petroleum Production and Refining
Bauxite Aluminum Production
Iron Ore Food Processing
Timber Light Consumer Goods
Hydropower Textiles
empty Lumber
empty Ship Repair
Export Commodities
Crude oil and petroleum products, Lumber, Cocoa beans, Aluminum, Coffee, and Cotton
Trade Balance
$-3.84 billion

GDP COMPOSITION BY SECTOR

Credit Rating B
Ease of Doing Business Ranking 166th
Procedures in starting a business 5.5
Number of days to register a business 13.5
Repatriation of Funds Yes
Corporate Tax Rate 33%
Human Capital Ranking 73rd
Corruption index 25th
Energy Security index 66th

(Source: World Bank Doing Business, 2020)

Foreign Direct Investment

EXPORT

$3.69 Billion
(2020 est.)
$4.732 Billion
(2017 est.)

Key Export Markets

China 18%
Netherlands 15.6%
India 8.53%
United Arab Emirates 4.4%
Vietnam 3.69%
Malaysia 2.97%

Key Import Markets

China 30%
France 8.81%
India 3.77%
Netherlands 2.56%

IMPORT

$6.73 Billion
(2020 est.)
$4.812 Billion
(2017 est.)
Africa Trade and Investment Portal