Page last updated on February 14, 2013
Economy - overview:
Because of its modest oil resources and favorable agricultural conditions, Cameroon has one of the best-endowed primary commodity economies in sub-Saharan Africa. Still, it faces many of the serious problems confronting other underdeveloped countries, such as stagnant per capita income, a relatively inequitable distribution of income, a top-heavy civil service, endemic corruption, 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 is pressing for more reforms, including increased budget transparency, privatization, and poverty reduction programs. Subsidies for electricity, food, and fuel have strained the budget. New mining projects - in diamonds, for example - have attracted foreign investment, but large ventures will take time to develop. Cameroon's business environment - one of the world's worst - is a deterrent to foreign investment.
GDP (purchasing power parity):
$50.32 billion (2012 est.)
country comparison to the world: 96
$48.07 billion (2011 est.)
$46.13 billion (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$24.51 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
4.7% (2012 est.)
country comparison to the world: 67
4.2% (2011 est.)
2.9% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$2,300 (2012 est.)
country comparison to the world: 185
$2,300 (2011 est.)
$2,300 (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 19.8%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
30.9%
services:
49.3% (2012 est.)
Labor force:
8.264 million (2012 est.)
country comparison to the world: 58
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 70%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
13%
services:
17% (2001 est.)
Unemployment rate:
30% (2001 est.)
country comparison to the world: 177
[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)
Distribution of family income - Gini index:
44.6 (2001)
country comparison to the world: 43
47.7 (1996)
[see also:
Distribution of family income - Gini index country ranks ]
Investment (gross fixed):
19.8% of GDP (2012 est.)
country comparison to the world: 102
[see also: Investment (gross fixed) country ranks ]
Budget:
revenues: $5.243 billion
[see also: Budget revenues country ranks ]
expenditures:
$5.61 billion (2012 est.)
Taxes and other revenues:
21.4% of GDP (2012 est.)
country comparison to the world: 150
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-1.5% of GDP (2012 est.)
country comparison to the world: 64
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
14.7% of GDP (2012 est.)
country comparison to the world: 136
13.9% of GDP (2011 est.)
[see also:
Public debt country ranks ]
Inflation rate (consumer prices):
2.9% (2012 est.)
country comparison to the world: 72
2.9% (2011 est.)
[see also:
Inflation rate (consumer prices) country ranks ]
Central bank discount rate:
NA% (31 December 2010 est.)
country comparison to the world: 82
4.25% (31 December 2009 est.)
[see also:
Central bank discount rate country ranks ]
Commercial bank prime lending rate:
14% (31 December 2012 est.)
country comparison to the world: 58
14% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$3.973 billion (31 December 2012 est.)
country comparison to the world: 109
$3.514 billion (31 December 2011 est.)
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$6.279 billion (31 December 2012 est.)
country comparison to the world: 122
$5.66 billion (31 December 2011 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$2.81 billion (31 December 2012 est.)
country comparison to the world: 130
$2.523 billion (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]
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
Industrial production growth rate:
4% (2010 est.)
country comparison to the world: 81
[see also: Industrial production growth rate country ranks ]
Current account balance:
-$946.4 million (2012 est.)
country comparison to the world: 110
-$1.365 billion (2011 est.)
[see also:
Current account balance country ranks ]
Exports:
$6.538 billion (2012 est.)
country comparison to the world: 104
$5.544 billion (2011 est.)
[see also:
Exports country ranks ]
Exports - commodities:
crude oil and petroleum products, lumber, cocoa beans, aluminum, coffee, cotton
Exports - partners:
Spain 13.4%, China 11.4%, Netherlands 9.8%, Italy 8.9%, France 6.4%, US 5.9%, India 5.7%, Germany 4.8%, Belgium 4.1% (2011)
Imports:
$6.597 billion (2012 est.)
country comparison to the world: 114
$6.108 billion (2011 est.)
[see also:
Imports country ranks ]
Imports - commodities:
machinery, electrical equipment, transport equipment, fuel, food
Imports - partners:
China 16.8%, France 16.6%, Nigeria 12.3%, Belgium 5.3%, Italy 4.3%, US 4.2% (2011)
Reserves of foreign exchange and gold:
$3.851 billion (31 December 2012 est.)
country comparison to the world: 99
$3.245 billion (31 December 2011 est.)
[see also:
Reserves of foreign exchange and gold country ranks ]
Debt - external:
$3.343 billion (31 December 2012 est.)
country comparison to the world: 132
$3.147 billion (31 December 2011 est.)
[see also:
Debt - external country ranks ]
Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per dollar -
514.1 (2012 est.)
471.87 (2011 est.)
495.28 (2010 est.)
472.19 (2009)
447.81 (2008)
Fiscal year:
1 July - 30 June
NOTE: The information regarding Cameroon on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cameroon Economy 2013 information contained here. All suggestions for corrections of any errors about Cameroon Economy 2013 should be addressed to the CIA.
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