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. 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. International oil and cocoa prices have a significant impact on the economy.
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% (2007 est.)
Labor Force
6.674 million (2007 est.)
Electricity production
3.903 billion kWh (2006 est.)
Electricity Consumption
3.323 billion kWh (2006 est.)
Electricity Exports
0 kWh (2007 est.)
Electricity Imports
0 kWh (2007 est.)
Unemployment Rate
30% (2001 est.)
Population Below Poverty Line
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)
Budget
Revenues: $4.179 billion
Expenditures: $3.297 billion (2007 est.)
Public Debt
15.5% of GDP (2007 est.)
Commercial Bank Prime Lending Rate
Stock of Domestic Credit
$1.3 billion (31 December 2007)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
$2.932 billion (31 December 2007 est.)
Debt External
$2.554 billion (31 December 2007 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Communaute Financiere Africaine francs (XAF) per US dollar - 493.51 (2007), 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003)
