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 (2022).
More about the economy of Cameroon
| Labor force | 11.965 million (2023 est.) |
|---|---|
| Industrial production growth rate | 3.8% (2023 est.) |
| Industries | petroleum production and refining, aluminum production, food processing, light consumer goods, textiles, lumber, ship repair |
| Population below poverty line | 37.5% (2014 est.) |
| Taxes and other revenues | 11.35% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar - |
| 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.) |
| Exchange rates 2019 | 585.911 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $9.612 billion (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2022 | $5.133 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $4.3 billion (2021 est.) |
| Reserves of foreign exchange and gold 2020 | $3.962 billion (2020 est.) |
| Current account balance | |
| Current account balance 2022 | -$1.505 billion (2022 est.) |
| Current account balance 2021 | -$1.794 billion (2021 est.) |
| Current account balance 2020 | -$1.512 billion (2020 est.) |
| Public debt | |
| Public debt 2017 | 36.9% of GDP (2017 est.) |
| Budget | |
| Revenues | $6.385 billion (2021 est.) |
| Expenditures | $5.592 billion (2021 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.78% of GDP (2023 est.) |
| Remittances 2022 | 1.29% of GDP (2022 est.) |
| Remittances 2021 | 0.96% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2.1% (2021 est.) |
| Highest 10% | 31.1% (2021 est.) |
| Average household expenditures | |
| On food | 45.2% of household expenditures (2022 est.) |
| On alcohol and tobacco | 2% of household expenditures (2022 est.) |
| Imports | |
| Imports 2022 | $9.759 billion (2022 est.) |
| Imports 2021 | $9.025 billion (2021 est.) |
| Imports 2020 | $7.212 billion (2020 est.) |
| Imports (partners) | China 39%, France 8%, India 6%, Belgium 4%, UAE 4% (2022) |
| Comodities Imports force | refined petroleum, wheat, garments, rice, plastic products (2022) |
| Exports | |
| Imports 2022 | $9.759 billion (2022 est.) |
| Imports 2021 | $9.025 billion (2021 est.) |
| Imports 2020 | $7.212 billion (2020 est.) |
| Exports (partners) | Netherlands 19%, France 15%, India 14%, Spain 10%, China 8% (2022) |
| Comodities Exports force | crude petroleum, natural gas, wood, cocoa beans, gold (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $138.925 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $133.59 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $128.969 billion (2021 est.) |
| GDP (official exchange rate) | $47.946 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $4,800 (2023 est.) |
| Real GDP per capita 2022 | $4,800 (2022 est.) |
| Real GDP per capita 2021 | $4,700 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 16.7% (2023 est.) |
| Industry | 25.2% (2023 est.) |
| Services | 51.6% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 73.3% (2023 est.) |
| Government consumption | 11.3% (2023 est.) |
| Investment in fixed capital | 17.5% (2023 est.) |
| Investment in inventories | -0.1% (2023 est.) |
| Exports of goods and services | 18.3% (2023 est.) |
| Imports of goods and services | -20.3% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 3.65% (2023 est.) |
| Unemployment rate 2022 | 3.69% (2022 est.) |
| Unemployment rate 2021 | 3.95% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 6.4% (2023 est.) |
| Male | 6% (2023 est.) |
| Female | 7% (2023 est.) |
All Important Facts about Cameroon
Want to know more about Cameroon? Check all different factbooks for Cameroon below.
