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Cameroon Economy 2010
http://www.workmall.com/wfb2010/cameroon/cameroon_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

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Page last updated on January 15, 2010

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 stagnating per capita income, a relatively inequitable distribution of income, a top-heavy civil service, and a generally unfavorable climate for business enterprise. International oil and cocoa prices have a significant impact on the economy. 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.

GDP (purchasing power parity):
$42.55 billion (2009 est.)

$43.2 billion (2008 est.)
$41.82 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$21.82 billion (2009 est.)

GDP - real growth rate:
-1.5% (2009 est.)

3.3% (2008 est.)
3.5% (2007 est.)

GDP - per capita (PPP):
$2,300 (2009 est.)

$2,300 (2008 est.)
$2,300 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 19.8%
industry: 29.7%
services: 50.4% (2009 est.)

Labor force:
7.313 million (2009 est.)

Labor force - by occupation:
agriculture: 70%
industry: 13%
services: 17% (2001 est.)

Unemployment rate:
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:
44.6 (2001)

47.7 (1996)

Investment (gross fixed):
18.1% of GDP (2009 est.)

Budget:
revenues: $3.838 billion
expenditures: $3.781 billion (2009 est.)

Public debt:
14.3% of GDP (2009 est.)

13.5% of GDP (2008 est.)

Inflation rate (consumer prices):
2.5% (2009 est.)

5.3% (2008 est.)

Central bank discount rate:
4.75% (31 December 2008)

5.25% (31 December 2007)

Commercial bank prime lending rate:
NA% (31 December 2008)

15% (31 December 2007)

Stock of money:
$NA (31 December 2008)

$2.616 billion (31 December 2007)

Stock of quasi money:
$NA (31 December 2008)

$1.698 billion (31 December 2007)

Stock of domestic credit:
$NA (31 December 2008)

$1.3 billion (31 December 2007)

Market value of publicly traded shares:
$NA

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:
-3.5% (2009 est.)

Electricity - production:
5.601 billion kWh (2007 est.)

Electricity - consumption:
4.801 billion kWh (2007 est.)

Electricity - exports:
0 kWh (2008 est.)

Electricity - imports:
0 kWh (2008 est.)

Oil - production:
81,720 bbl/day (2008 est.)

Oil - consumption:
26,000 bbl/day (2008 est.)

Oil - exports:
107,100 bbl/day (2007 est.)

Oil - imports:
45,520 bbl/day (2007 est.)

Oil - proved reserves:
200 million bbl (1 January 2009 est.)

Natural gas - production:
20 million cu m (2008 est.)

Natural gas - consumption:
20 million cu m (2008 est.)

Natural gas - exports:
0 cu m (2008 est.)

Natural gas - imports:
0 cu m (2008 est.)

Natural gas - proved reserves:
135.1 billion cu m (1 January 2009 est.)

Current account balance:
$-673 million (2009 est.)

$-96 million (2008 est.)

Exports:
$3.409 billion (2009 est.)

$4.707 billion (2008 est.)

Exports - commodities:
crude oil and petroleum products, lumber, cocoa beans, aluminum, coffee, cotton

Exports - partners:
Spain 19.8%, Italy 13.5%, US 10.6%, France 8.2%, Netherlands 8.1%, China 7.9%, Belgium 4% (2008)

Imports:
$3.739 billion (2009 est.)

$4.303 billion (2008 est.)

Imports - commodities:
machinery, electrical equipment, transport equipment, fuel, food

Imports - partners:
France 21.1%, Nigeria 13.8%, China 9.5%, Belgium 6.1% (2008)

Reserves of foreign exchange and gold:
$2.922 billion (31 December 2009 est.)

$3.091 billion (31 December 2008 est.)

Debt - external:
$2.929 billion (31 December 2009 est.)

$3.066 billion (31 December 2008 est.)

Exchange rates:
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - 481.35 (2009), 447.81 (2008), 493.51 (2007), 522.59 (2006), 527.47 (2005)
note: since 1 January 1999, the Central African CFA franc (XAF) has been pegged to the euro at a rate of 655.957 CFA francs per euro; Central African CFA franc (XAF) coins and banknotes are not accepted in countries using West African CFA francs (XOF), and vice versa, even though the two currencies trade at par


NOTE: The information regarding Cameroon on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cameroon Economy 2010 information contained here. All suggestions for corrections of any errors about Cameroon Economy 2010 should be addressed to the CIA.



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