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World > Africa > Cameroon > Economy (Facts)

Cameroon - Economy (Facts)
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 nation's 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 - real growth rate: 3.5% (2006 est.)
GDP (purchasing power parity): $42.48 billion (2006 est.)
GDP (official exchange rate): $16.27 billion (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.)
Population below poverty line: 48% (2000 est.)
Household income or consumption by percentage share: lowest 10%: 1.9%
highest 10%: 36.6% (1996)
Inflation rate (consumer prices): 2.4% (2006 est.)
Labor force: 6.394 million (2006 est.)
Labor force - by occupation: agriculture: 70%
industry: 13%
services: 17%
Unemployment rate: 30% (2001 est.)
Budget: revenues: $3.339 billion
expenditures: $3.157 billion; including capital expenditures of NA (2006 est.)
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 - exports: 0 cu m (2004 est.)
Natural gas - imports: 0 cu m (2004 est.)
Agriculture - products: coffee, cocoa, cotton, rubber, bananas, oilseed, grains, root starches; livestock; timber
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)
Debt - external: $3.657 billion (2006 est.)
Economic aid - recipient: in January 2001, the Paris Club agreed to reduce Cameroon's debt of $1.3 billion by $900 million; debt relief now totals $1.26 billion
Currency: XAF
Currency code: XAF
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)
Fiscal year: 1 July - 30 June


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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