Cameroon

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Introduction - Cameroon:
Location - Cameroon:
People - Cameroon:
Government - Cameroon:
Economy - Cameroon:

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 facing other underdeveloped countries, such as a top-heavy civil service 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 nations banks. In June 2000, the government completed an IMF-sponsored, three-year structural adjustment program; however, the IMF is pressing for more reforms, including increased budget transparency, privatization, and poverty reduction programs. International oil and cocoa prices have a significant impact on the economy.

Gdp purchasing power parity

$42.48 billion (2006 est.)

Gdp official exchange rate

$16.27 billion (2006 est.)

Gdp real growth rate

3.5% (2006 est.)

Gdp per capita ppp

$2,400 (2006 est.)

Gdp composition by sector

agriculture: 45.2%
industry: 16.1%
services: 38.7% (2006 est.)

Labor force

6.394 million (2006 est.)

Labor force by occupation

agriculture: 70%
industry: 13%
services: 17%

Unemployment rate

30% (2001 est.)

Population below poverty line

48% (2000 est.)

Household income or consumption by percentage share

lowest 10%: 1.9%
highest 10%: 36.6% (1996)

Distribution of family income gini index

44.6 (2001)

Inflation rate consumer prices

2.4% (2006 est.)

Investment gross fixed

16.8% of GDP (2006 est.)

Budget

revenues: $3.339 billion
expenditures: $3.157 billion; including capital expenditures of $NA (2006 est.)

Public debt

28.4% of GDP (2006 est.)

Agriculture products

coffee, cocoa, cotton, rubber, bananas, oilseed, grains, root starches; livestock; timber

Industries

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

Industrial production growth rate

4.2% (1999 est.)

Electricity production

3.924 billion kWh (2004)

Electricity consumption

3.649 billion kWh (2004)

Electricity exports

0 kWh (2004)

Electricity imports

0 kWh (2004)

Oil production

82,300 bbl/day (2005 est.)

Oil consumption

24,000 bbl/day (2004 est.)

Oil exports

NA bbl/day

Oil imports

NA bbl/day

Oil proved reserves

90 million bbl (2006 est.)

Natural gas production

0 cu m (2004 est.)

Natural gas consumption

0 cu m (2004 est.)

Natural gas exports

0 cu m (2004 est.)

Natural gas imports

0 cu m (2004 est.)

Natural gas proved reserves

110.4 billion cu m (1 January 2005 est.)

Current account balance

$419 million (2006 est.)

Exports

$4.318 billion f.o.b. (2006 est.)

Exports commodities

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

Exports partners

Spain 20.9%, Italy 15.2%, France 11.4%, South Korea 7.6%, Netherlands 7.1%, US 5.6%, Belgium 4.2% (2006)

Imports

$3.083 billion f.o.b. (2006 est.)

Imports commodities

machinery, electrical equipment, transport equipment, fuel, food

Imports partners

France 23.5%, Nigeria 13.2%, China 7.2%, Belgium 6.2%, US 4.5%, Brazil 4.1% (2006)

Reserves of foreign exchange and gold

$1.336 billion (2006 est.)

Debt external

$3.657 billion (2006 est.)

Economic aid recipient

in January 2001, the Paris Club agreed to reduce Cameroons debt of $1.3 billion by $900 million; debt relief now totals $1.26 billion

Currency code

Communaute Financiere Africaine franc (XAF); note - responsible authority is the Bank of the Central African States

Exchange rates

Communaute Financiere Africaine francs (XAF) per US dollar - 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003), 696.99 (2002)

Communications - Cameroon:
Transportation - Cameroon:
Military - Cameroon:
This page was last updated on 16 September, 2007
Source: CIA >>>


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