Cameroon occupies an advantageous position geographically. The country lies between many Central African nations and Nigeria, which ensures its proximity to several growing markets.Cameroon has always had a peaceful existence shielded from any civil disputes or any severe damages by nature.
However, the International Monetary Fund declared Cameroon’s qualification of debt relief for Heavily Indebted Poor Countries during late 2000.
Economic facts about Cameroon:
GDP in the year 2006:
Gross domestic product PPP was USD$42.2 billion.
Gross domestic product -official exchange rate was USD$16.37 billion
Gross domestic product real growth rate was 4.1%
Gross domestic product per capita PPP was USD$2,400.
GDP (agriculture sector) was 45.2%
GDP (service sector) was 38.7%
GDP (industrial sector) was 16.1%
Total workforce in Cameroon in the year 2006 was 6.394 million.
Rate of unemployment was 30% in the year 2001.
Population of Cameroon below poverty line-48% in 2006.
Rate of inflation-consumer prices (2006) was 2.4%.
Public debt in 2006 was 28.4% of the gross domestic product.
Agricultural products of Cameroon include oilseed, root starches, cotton, rubber, cocoa, coffee, bananas, grains.
The industrial sector comprises production of aluminum, food processing, production and refining of petroleum, textiles, repairing ships, lumber, consumer goods.
Aluminum, cotton, coffee, lumber, cocoa beans, crude oil, petroleum products are the commodities of export.
Cameroon export trading partners in 2005 were Italy, Spain, France, Netherlands, UK, South Korea, USA, Belgium.
Cameroon imports fuel, food products, machinery, transport materials, electrical equipments from Thailand, China, USA, France, Nigeria, Germany, Belgium(2005)
External debt of Cameroon was USD$3,657 in the year 2006.
Currency of Cameroon consists of Communaute Financiere Africaine franc. It is denoted by the code XAF
In the year 2001, January, Cameroon’s debt of USD$1.3 billion was reduced by USD$900 million.
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Last Updated on : 5th August 2013