Economy Overview
Because of its 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. The government, however, has failed to press forward vigorously with these programs. The latest enhanced structural adjustment agreement was signed in October 1997; the parties hope this will prove more successful, yet government mismanagement and corruption remain problems. Inflation has been brought back under control. Progress toward privatization of remaining state industry should support continued economic growth in 2000.
Agriculture Products
coffee, cocoa, cotton, rubber, bananas, oilseed, grains, root starches; livestock; timber
Industries
petroleum production and refining, food processing, light consumer goods, textiles, lumber
Industrial Production Growth Rate
NA%
Electricity production
3.285 billion kWh (1998)
Electricity production by source
Fossil fuel: 2.59%
Hydro: 97.41%
Nuclear: 0%
Other: 0% (1998)
Electricity Consumption
3.055 billion kWh (1998)
Electricity Exports
0 kWh (1998)
Electricity Imports
0 kWh (1998)
Currency
1 Communaute Financiere Africaine franc (CFAF) = 100 centimes
Unemployment Rate
30% (1998 est.)
Population Below Poverty Line
40% (1984 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $2.23 billion
Expenditures: $2.23 billion, including capital expenditures of $NA (FY96/97 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$11.5 billion (1999 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Note: since 1 January 1999, the CFAF is pegged to the euro at a rate of 655.957 CFA francs per euro
