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EconomyEconomy - 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) World Ranking: 94
$47.86 billion (2011 est.)
$45.97 billion (2010 est.) $44.67 billion (2009 est.) Note Data are in 2011 US dollars Gdp (official exchange rate)
$25.76 billion (2011 est.)
Gdp - real growth rate World Ranking: 95
4.1% (2011 est.)
2.9% (2010 est.) 2% (2009 est.) Gdp - per capita (ppp) World Ranking: 184
$2,300 (2011 est.)
$2,300 (2010 est.) $2,200 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 19.5%
Industry 31% Services 49.5% (2011 est.) Labor force World Ranking: 60
8.083 million (2011 est.)
Labor force - by occupation
Agriculture 70%
Industry 13% Services 17% (2001 est.) Unemployment rate World Ranking: 176
30% (2001 est.)
Population below poverty line
48% (2000 est.)
Household income or consumption by percentage share
Lowest 10% 2.3%
Highest 10% 35.4% (2001) Distribution of family income - gini index World Ranking: 43
44.6 (2001)
47.7 (1996) Investment (gross fixed) World Ranking: 102
19.6% of GDP (2011 est.)
Budget
Revenues $5.01 billion
Expenditures $5.302 billion (2011 est.) Taxes and other revenues World Ranking: 166
19.5% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 63
-1.1% of GDP (2011 est.)
Public debt World Ranking: 127
13.9% of GDP (2011 est.)
13.5% of GDP (2010 est.) Inflation rate (consumer prices) World Ranking: 56
2.9% (2011 est.)
1.3% (2010 est.) Central bank discount rate World Ranking: 85
NA% (31 December 2010 est.)
4.25% (31 December 2009 est.) Commercial bank prime lending rate World Ranking: 56
14.5% (31 December 2011 est.)
14% (31 December 2010 est.) Stock of narrow money World Ranking: 114
$3.259 billion (31 December 2011 est.) $3.264 billion (31 December 2010 est.) Stock of broad money World Ranking: 124
$5.438 billion (31 December 2011 est.) $5.344 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 133
$2.523 billion (31 December 2011 est.) $1.587 billion (31 December 2010 est.) Market value of publicly traded shares
$NA
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 World Ranking: 80
4% (2010 est.)
Electricity - production World Ranking: 112
5.421 billion kWh (2008 est.)
Electricity - consumption World Ranking: 114
4.883 billion kWh (2008 est.)
Electricity - exports
0 kWh (2009 est.)
Electricity - imports
0 kWh (2009 est.)
Oil - production World Ranking: 56
65,330 bbl/day (2010 est.)
Oil - consumption World Ranking: 115
30,000 bbl/day (2010 est.)
Oil - exports World Ranking: 62
101,300 bbl/day (2009 est.)
Oil - imports World Ranking: 88
46,490 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 59
200 million bbl (1 January 2011 est.) Natural gas - production World Ranking: 88
20 million cu m (2009 est.)
Natural gas - consumption World Ranking: 111
20 million cu m (2009 est.)
Natural gas - exports World Ranking: 73
0 cu m (2009 est.)
Natural gas - imports World Ranking: 167
0 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 51
135.1 billion cu m (1 January 2011 est.) Current account balance World Ranking: 130
-$1.361 billion (2011 est.)
-$856.3 million (2010 est.) Exports World Ranking: 111
$5.549 billion (2011 est.)
$4.485 billion (2010 est.) Exports - commodities
Crude oil and petroleum products, lumber, cocoa beans, aluminum, coffee, cotton Exports - partners
Spain 13.3%, China 11.4%, Netherlands 9.7%, Italy 8.8%, India 6.6%, France 6.4%, US 5.9%, Germany 4.8%, Belgium 4% (2011) Imports World Ranking: 120
$6.108 billion (2011 est.)
$4.663 billion (2010 est.) Imports - commodities
Machinery, electrical equipment, transport equipment, fuel, food Imports - partners
China 16.9%, France 16.8%, Nigeria 12.4%, Belgium 5.3%, Italy 4.3%, US 4.3% (2011) Reserves of foreign exchange and gold World Ranking: 100
$3.316 billion (31 December 2011 est.) $3.665 billion (31 December 2010 est.) Debt - external World Ranking: 132
$3.147 billion (31 December 2011 est.) $2.964 billion (31 December 2010 est.) Exchange rates
Cooperation Financiere en Afrique Centrale francs (XAF) per dollar - 471.87 (2011 est.)495.28 (2010 est.) 472.19 (2009) 447.81 (2008) 493.51 (2007) Fiscal year
1 July - 30 June
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Cameroon (Yaounde):
 
GPS points from Cameroon (Yaounde)
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French Cameroon became independent in 1960 as the Republic of Cameroon. The following year the southern portion of neighboring British Cameroon voted to merge with the new country to form the Federal Republic of Cameroon. In 1972, a new constitution replaced the federation with a unitary state, the United Republic of Cameroon. The country has generally enjoyed stability, which has permitted the development of agriculture, roads, and railways, as well as a petroleum industry. Despite slow movement toward democratic reform, political power remains firmly in the hands of President Paul BIYA.