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 confronting other underdeveloped countries, such as stagnant per capita income, a relatively inequitable distribution of income, a top-heavy civil service, endemic corruption, 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 led to the significant slowdown in growth in 2010. 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: 102
Labor Force
7.836 million (2010 est.)country comparison to the world: 59
Electricity production
5.421 billion kWh (2008 est.)country comparison to the world: 112
Electricity Consumption
4.883 billion kWh (2008 est.)country comparison to the world: 113
Electricity Exports
0 kWh (2009 est.)
Electricity Imports
0 kWh (2009 est.)
Unemployment Rate
30% (2001 est.)country comparison to the world: 175
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: 41 47.7 (1996)
Budget
Revenues: $3.881 billion
Expenditures: $4.434 billion (2010 est.)
Public Debt
16.1% of GDP (2010 est.)country comparison to the world: 119 15.1% of GDP (2009 est.)
Central Bank Discount Rate
NA% (31 December 2010 est.)country comparison to the world: 89 4.25% (31 December 2009 est.)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$3.264 billion (31 December 2010 est.)country comparison to the world: 105 $3.188 billion (31 December 2009 est.)
Stock of Broad Money
$5.344 billion (31 December 2010 est.)country comparison to the world: 121 $5.103 billion (31 December 2009 est.)
Stock of Domestic Credit
$1.587 billion (31 December 2010 est.)country comparison to the world: 137 $1.58 billion (31 December 2009 est.)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
$3.665 billion (31 December 2010 est.)country comparison to the world: 95 $3.676 billion (31 December 2009 est.)
Debt External
$3.123 billion (31 December 2010 est.)country comparison to the world: 127 $2.941 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 francs495.28 (2010)472.19 (2009)447.81 (2008)493.51 (2007)522.59 (2006)
