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. Subsidies for electricity, food, and fuel have strained the budget. New mining projects - in diamonds, for example - have attracted foreign investment, but large ventures will take time to develop. Cameroon's business environment - one of the world's worst - is a deterrent to foreign investment.
Agriculture Products
coffee, cocoa, cotton, rubber, bananas, oilseed, grains, cassava (manioc); livestock; timber
Industrial Production Growth Rate
4% (2010 est.)country comparison to the world: 81
Labor Force
8.264 million (2012 est.)country comparison to the world: 58
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)
Budget
Revenues: $5.243 billion
Expenditures: $5.61 billion (2012 est.)
Public Debt
14.7% of GDP (2012 est.)country comparison to the world: 136 13.9% of GDP (2011 est.)
Central Bank Discount Rate
NA% (31 December 2010 est.)country comparison to the world: 82 4.25% (31 December 2009 est.)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$3.973 billion (31 December 2012 est.)country comparison to the world: 109 $3.514 billion (31 December 2011 est.)
Stock of Broad Money
$6.279 billion (31 December 2012 est.)country comparison to the world: 122 $5.66 billion (31 December 2011 est.)
Stock of Domestic Credit
$2.81 billion (31 December 2012 est.)country comparison to the world: 130 $2.523 billion (31 December 2011 est.)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
$3.851 billion (31 December 2012 est.)country comparison to the world: 99 $3.245 billion (31 December 2011 est.)
Debt External
$3.343 billion (31 December 2012 est.)country comparison to the world: 132 $3.147 billion (31 December 2011 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Cooperation Financiere en Afrique Centrale francs (XAF) per dollar -514.1 (2012 est.) 471.87 (2011 est.) 495.28 (2010 est.) 472.19 (2009) 447.81 (2008)
