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Cameroon:
Economy

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Economy - overview
Definition
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 facing other underdeveloped countries, such as a top-heavy civil service 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. In June 2000, the government completed an IMF-sponsored, three-year structural adjustment program; however, the IMF is pressing for more reforms, including increased budget transparency, privatization, and poverty reduction programs. In January 2001, the Paris Club agreed to reduce Cameroon's debt of $1.3 billion by $900 million; debt relief now totals $1.26 billion. International oil and cocoa prices have a significant impact on the economy.
GDP (purchasing power parity)
Definition - World rank and map
$39.37 billion (2007 est.)
GDP (official exchange rate)
Definition
$20.65 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
3.3% (2007 est.)
GDP - per capita
Definition - World rank and map
$2,100 (2007 est.)
GDP - composition by sector
Definition
agriculture: 43.9%
industry: 15.8%
services: 40.3% (2007 est.)
Labor force
Definition
6.674 million (2007 est.)
Labor force - by occupation
Definition
agriculture: 70%
industry: 13%
services: 17% (2001 est.)
Unemployment rate
Definition - World rank and map
30% (2001 est.)
Population below poverty line
Definition
48% (2000 est.)
Household income or consumption by percentage share
Definition
lowest 10%: 2.3%
highest 10%: 35.4% (2001)
Distribution of family income - Gini index
Definition - World rank and map
44.6 (2001)
Inflation rate (consumer prices)
Definition - World rank and map
0.9% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
17.3% of GDP (2007 est.)
Budget
Definition
revenues: $4.178 billion
expenditures: $3.297 billion (2007 est.)
Public debt
Definition - World rank and map
15.4% of GDP (2007 est.)
Agriculture - products
Definition
coffee, cocoa, cotton, rubber, bananas, oilseed, grains, root starches; livestock; timber
Industries
Definition
petroleum production and refining, aluminum production, food processing, light consumer goods, textiles, lumber, ship repair
Industrial production growth rate
Definition - World rank and map
3.5% (2007 est.)
Electricity - production
Definition - World rank and map
4.09 billion kWh (2005)
Electricity - consumption
Definition - World rank and map
3.435 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
186.1 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
82,670 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
24,200 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
1.3 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
107,400 bbl/day (2004)
Oil - imports
Definition - World rank and map
63,710 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
95 million bbl (2007 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
105.9 billion cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
$85 million (2007 est.)
Exports
Definition - World rank and map
$3.82 billion f.o.b. (2007 est.)
Exports - commodities
Definition
crude oil and petroleum products, lumber, cocoa beans, aluminum, coffee, cotton
Exports - partners
Definition
Spain 20%, Italy 15.9%, France 11.8%, South Korea 8.5%, Netherlands 6.2%, US 5.8% (2006)
Imports
Definition - World rank and map
$3.714 billion f.o.b. (2007 est.)
Imports - commodities
Definition
machinery, electrical equipment, transport equipment, fuel, food
Imports - partners
Definition
France 23.3%, Nigeria 12.8%, China 9%, Belgium 5.8%, US 4% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$2.934 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$2.555 billion (31 December 2007 est.)
Market value of publicly traded shares
Definition
$NA
Economic aid - recipient
Definition
$413.8 million (2005)
Currency (code)
Definition
Communaute Financiere Africaine franc (XAF); note - responsible authority is the Bank of the Central African States
Exchange rates
Definition
Communaute Financiere Africaine francs (XAF) per US dollar - 493.51 (2007), 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003)
Fiscal year
Definition
1 July - 30 June


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