Cameroon - Economy
How is the economy of Cameroon? Based on the information we have, Cameroon has a largest CEMAC economy with many natural resources; recent political instability and terrorism reducing economic output; systemic corruption; poor property rights enforcement; increasing poverty in northern regions. Key agricultural products in this country include: cassava, plantains, oil palm fruit, maize, taro, tomatoes, sorghum, sugarcane, bananas, vegetables (2023).
More about the economy of Cameroon
| Labor force | 11.119 million (2024 est.) |
|---|---|
| Industrial production growth rate | 1.9% (2024 est.) |
| Industries | petroleum production and refining, aluminum production, food processing, light consumer goods, textiles, lumber, ship repair |
| Population below poverty line | |
| Taxes and other revenues | 11.3% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - |
| Exchange rates 2024 | 606.345 (2024 est.) |
| Exchange rates 2023 | 606.57 (2023 est.) |
| Exchange rates 2022 | 623.76 (2022 est.) |
| Exchange rates 2021 | 554.531 (2021 est.) |
| Exchange rates 2020 | 575.586 (2020 est.) |
| Debt - external | |
| Debt - external 2023 | $11.112 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $4.882 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $5.133 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $4.3 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | -$2.019 billion (2023 est.) |
| Current account balance 2022 | -$1.505 billion (2022 est.) |
| Current account balance 2021 | -$1.794 billion (2021 est.) |
| Budget | |
| Revenues | $6.385 billion (2021 est.) |
| Expenditures | $5.592 billion (2021 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 1.6% of GDP (2023 est.) |
| Remittances 2022 | 1.3% of GDP (2022 est.) |
| Remittances 2021 | 1% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2.1% (2021 est.) |
| Highest 10% | 31.1% (2021 est.) |
| Average household expenditures | |
| On food | 45.8% of household expenditures (2023 est.) |
| On alcohol and tobacco | 2.9% of household expenditures (2023 est.) |
| Imports | |
| Imports 2023 | $10.294 billion (2023 est.) |
| Imports 2022 | $9.759 billion (2022 est.) |
| Imports 2021 | $9.025 billion (2021 est.) |
| Imports (partners) | China 43%, France 6%, India 6%, Belgium 4%, UAE 4% (2023) |
| Comodities Imports force | garments, refined petroleum, plastic products, wheat, rice (2023) |
| Exports | |
| Imports 2023 | $10.294 billion (2023 est.) |
| Imports 2022 | $9.759 billion (2022 est.) |
| Imports 2021 | $9.025 billion (2021 est.) |
| Exports (partners) | Netherlands 21%, France 14%, UAE 13%, India 9%, China 8% (2023) |
| Comodities Exports force | crude petroleum, natural gas, gold, cocoa beans, wood (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $143.264 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $138.191 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $133.843 billion (2022 est.) |
| GDP (official exchange rate) | $51.327 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $4,900 (2024 est.) |
| Real GDP per capita 2023 | $4,900 (2023 est.) |
| Real GDP per capita 2022 | $4,800 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 17.4% (2024 est.) |
| Industry | 25.6% (2024 est.) |
| Services | 49.9% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 74.5% (2024 est.) |
| Government consumption | 10.5% (2024 est.) |
| Investment in fixed capital | 21.4% (2024 est.) |
| Investment in inventories | 0% (2024 est.) |
| Exports of goods and services | 14.7% (2024 est.) |
| Imports of goods and services | -21.1% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 3.6% (2024 est.) |
| Unemployment rate 2023 | 3.7% (2023 est.) |
| Unemployment rate 2022 | 3.7% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 6.2% (2024 est.) |
| Male | 5.9% (2024 est.) |
| Female | 6.7% (2024 est.) |
All Important Facts about Cameroon
Want to know more about Cameroon? Check all different factbooks for Cameroon below.
