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
Policy
Incentives
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
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
(2020 est.) $4.732 Billion
(2017 est.)
Key Export Markets
Key Import Markets
IMPORT
(2020 est.) $4.812 Billion
(2017 est.)

