With regard to international trade, Cameroon was the world’s 113rd exporting economy in 2020, with a total of $ 4.48 billion, according to data from the International Trade Centre (ITC). Behind Iceland (112) with $ 4.59 billion and followed by Zimbabwe (114) with $ 4.39 billion. The countries in its geographical area of influence like Nigeria, Congo-Kinshasa (DRC) and Gabon were placed in positions 58th, 76th and 107th respectively.
Cameroon, located in the Gulf of Guinea, is a Central African country characterized by a primary goods exports economy. The capital is Yaoundé, located in the south-central part of the country, while Douala is the largest city and its main industrial and economic centre.
During the period 2016-2020, exports of goods increased by an annual average of 27.6%, from 2.13 billion to 4.48 billion.
Imports reached 6.87 billion in 2020. The trade deficit stood at $ 2.39 billion. In 2020, the top 5 of Cameroonian exports, with a total of 74%, were:
- Crude oil: $ 1.7 billion (38%)
- Cocoa beans: $ 643 million (14%)
- Sawn or chipped wood: $ 462 million (10%)
- Fresh or dried bananas: $ 279 million (6%)
- Petroleum gas and other gaseous hydrocarbons: $ 265 million (6%)
With regard to products imported in 2020, the top 5 imports account for 26%:
- Ships and other floating scrap artefacts: $ 898 million (13%)
- Lighthouse boats, bomb boats, dredgers, pontoon cranes: $ 286 million (4%)
- Rice: $ 228 million (3%)
- Drugs $ 196 million (3%)
- Wheat: $ 182 million (3%)
Its major trading partners (X + M) are China with 21% of exchanges, followed by France with 8%, and finally Italy and the Netherlands with 7% each of them.
The main destinations for exports were:
- China 25%
- Italy 14%
- Netherlands 10%
- France 7%
- Spain 6%
The main origins of imports were:
- China 18%
- France 8%
- Nigeria 6%
- Netherlands 5%
- Thailand 4%
Regarding bilateral agreements, Cameroon has signed and entered into force 4 regional trade treaties. It is one of the most prominent members of the Central African Economic and Monetary Community.
During the period 2013-2020, the foreign direct investment (FDI) received by Cameroon averaged $ 738 million annually.
In 2020, the GDP per capita (PPP) was $ 1,533 with a population of 26.5 million. In the period 2012-2020, GDP has increased by an average of 4.1% per year.
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Sources:
- https://data.worldbank.org
- http://www.intracen.org/
- https://www.wto.org/index.htm
- https://www.cia.gov/the-world-factbook/
Data from 2020, other years are stated. Photo by Martin Fennema on Unsplash