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.
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% (2008 est.)country comparison to the world: 63
Labor Force
6.759 million (2008 est.)country comparison to the world: 62
Electricity production
5.601 billion kWh (2007 est.)country comparison to the world: 108
Electricity Consumption
4.801 billion kWh (2007 est.)country comparison to the world: 107
Electricity Exports
0 kWh (2008 est.)
Electricity Imports
0 kWh (2008 est.)
Unemployment Rate
30% (2001 est.)country comparison to the world: 176
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)country comparison to the world: 45 47.7 (1996)
Budget
Revenues: $4.714 billion
Expenditures: $4.261 billion (2008 est.)
Public Debt
13.5% of GDP (2008 est.)country comparison to the world: 109 69.1% of GDP (2004 est.)
Central Bank Discount Rate
4.75% (31 December 2008)country comparison to the world: 86 5.25% (31 December 2007)
Commercial Bank Prime Lending Rate
Stock of Domestic Credit
$NA (31 December 2008)$1.3 billion (31 December 2007)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
$3.091 billion (31 December 2008 est.)country comparison to the world: 93 $2.932 billion (31 December 2007 est.)
Debt External
$3.066 billion (31 December 2008 est.)country comparison to the world: 126 $2.554 billion (31 December 2007 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - 447.81 (2008 est.), 493.51 (2007), 522.59 (2006), 527.47 (2005), 528.29 (2004) 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
