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 stagnate per capita income, a relatively inequitable distribution of income, 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 IMF is pressing for more reforms, including increased budget transparency, privatization, and poverty reduction programs. Weak prices for oil and cocoa led to the significant slowdown in growth in 2009. The government is under pressure to reduce its budget deficit, which by the government's own forecast will hit 2.8% of GDP, but the presidential election in 2011 may make fiscal austerity difficult.
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% (2010 est.)country comparison to the world: 88
Labor Force
7.836 million (2010 est.)country comparison to the world: 59
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: 109
Electricity Exports
0 kWh (2008 est.)
Electricity Imports
0 kWh (2008 est.)
Unemployment Rate
30% (2001 est.)country comparison to the world: 177
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: 43 47.7 (1996)
Public Debt
16.8% of GDP (2010 est.)country comparison to the world: 113 16.3% of GDP (2009 est.)
Central Bank Discount Rate
4.25% (31 December 2009)country comparison to the world: 104 4.75% (31 December 2008)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$2.888 billion (31 December 2010 est)country comparison to the world: 111 $3.074 billion (31 December 2009 est)
Stock of Broad Money
$4.831 billion (31 December 2010 est.)country comparison to the world: 120 $4.921 billion (31 December 2009 est.)
Stock of Domestic Credit
$848.8 million (31 December 2010 est.)country comparison to the world: 152 $1.523 billion (31 December 2009 est.)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
$4.023 billion (31 December 2010 est.)country comparison to the world: 74 $3.676 billion (31 December 2009 est.)
Debt External
$3.344 billion (31 December 2010 est.)country comparison to the world: 123 $3.231 billion (31 December 2009 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Cooperation Financiere en Afrique Centrale francs 506.04 (2010), 472.19 (2009), 447.81 (2008), 493.51 (2007), 522.59 (2006)
