Economy overview: Rich oil reserves and favorable conditions for agriculture make Cameroon one of the most resource-rich countries in sub-Saharan Africa. However, Cameroon has to deal with many of the major challenges faced by other developing countries; these problems include an excessive number of civil servants and a generally unfavorable business climate. Since 1990, Cameroon has been participating in various IMF and World Bank programs designed to attract investment, improve agricultural efficiency, develop trade and recapitalize national banks. In June 2000, the government completed a three-year IMF-supported structural adjustment program, but the IMF is pushing for further reforms, including increased budget transparency and privatization. High oil prices in 2000 helped offset the decline in revenue from cocoa exports. The recovery of the cocoa market should lead to growth of over 5% in 2001. See businesscarriers.com to know more about Cameroon Economics and Business.
GDP: at purchasing power parity – $26 billion (2000 est.).
Real GDP growth rate: 4.4% (2000 est.).
GDP per capita: at purchasing power parity – $1,700 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 43.4%; industry: 20.1%; services: 36.5% (1999 est.).
Proportion of population below the poverty line: 48% (2000 est.).
Percentage distribution of household income or consumption: for the poorest 10% of households: n/a; by top 10% of households: no data.
Inflation rate at consumer prices: 2% (2000 est.).
Labor force: no data.
Employment structure: agriculture 70%, industry and trade 13%, other employment 17%.
Unemployment rate: 30% (1998 est.).
Budget: revenues: $2.1 billion; expenditures: $2.1 billion including capex – NA (FY00-01 est.).
Spheres of economy: oil production and refining, food industry, light industry, textile and timber industry.
Growth in industrial production: 4.2% (1999 est.).
Electricity generation: 3.47 billion kWh (1999)
Sources of electricity generation: fossil fuels: 2.59%; hydropower: 97.41%; nuclear fuel: 0%; others: 0% (1999).
Electricity consumption: 3.227 billion kWh (1999)
Electricity export: 0 kWh (1999).
Electricity import: 0 kWh (1999).
Agricultural products: coffee, cocoa, cotton, rubber, bananas, sunflower seeds, cereals, starchy root crops; livestock; timber.
Exports: $2.1 billion (free on board, 2000 est.)
Exports: crude oil and petroleum products, timber, cocoa beans, aluminium, coffee, cotton.
Export partners: Italy 24%, France 18%, Netherlands 10% (2000 est.).
Imports: $1.6 billion (free on board, 2000 est.)
Import items: engineering and electrical equipment, transport equipment, fuel, food.
Import partners: France 29%, Germany 7%, Japan 6%, USA 6% (2000 est.).
External debt: $10.9 billion (2000 est.) Economic aid recipient: As of January 23, 2001, the Paris Club agreed to reduce Cameroon’s $1.3 billion debt by $900 million; total debt reduction was $1.26 billion.
Economic aid donor:
Currency: African Financial Community franc (CFA franc, Communaute Finan-ciere Africaine franc); note – the circulation of the CFA franc is regulated by the Central Bank of West African countries.
Currency code: XOF.
Exchange rate: XOF/USD – 699.21 (January 2001), 711.98 (2000), 615.70 (1999), 589.95 (1998), 583.67 (1997), 511.55 (1996); note: since January 1, 1999, the CFA franc has been exchanged for the euro at a ratio of 655.957 CFA francs to 1 euro.
Fiscal year: July 1-June 30.
Telecommunications Telephone lines: 75,000 (1999).
Mobile Cell Phones: 4,200 (1997).
Telephone system: available only to businessmen and government employees; domestic: cable, microwave radio relay and tropospheric scatter; international: satellite earth stations – 2 Intelsat (Atlantic Ocean).
Broadcast stations: AM -11, FM -8, shortwave -3 (1998).
Radio receivers: 2.27 million (1997)
Television broadcast stations: 1 (1998).
TVs: 450,000 (1997).
Internet country code: cm
Internet service providers: 1 (2000).
Number of users: 20,000 (2000).
Transport Railways: total length: 1,104 km; narrow gauge: 1,104 km (1,000 m gauge) (1995 est.).
Roads: total length: 34,300 km; coated: 4,288 km; unpaved: 30,012 km (1995 est.)
Waterways: 2,090 km; the importance of waterways is decreasing.
Ports and harbours: Bonaberi, Garoua, Douala, Kribi, Tiko.
Airports: 49 (2000 est.).
Airports with paved runways: total: 11; over 3,047 m: 2; from 2438 to 3047 m: 4; from 1,524 to 2,437 m: 3; from 914 to 1523 m:1; less than 914 m: 1 (2000 est.).
Airports with unpaved runways: total: 38; from 1,524 to 2,437 m: 7; from 914 to 1,523 m: 21; less than 914 m: 10 (2000 est.).
Branches of the armed forces: army, navy (including marines), air force, national gendarmerie, presidential guard.
Enlistment age: 18 years old.
Total Military Manpower: Male 15 to 49: 3,762,369 (2001 est.).
Eligible for military service: males aged 15 to 49: 1,903,149 (2001 est.).
Number of persons reaching military age each year: male: 174,308 (2001 est.).
Military spending in dollar terms: $118.6 million (FY00-01)
Military spending as part of GDP: 1.4% (FY98-99)
International issues International disputes: Determination of international borders in the Lake Chad region, the lack of which in the past has led to border incidents, has been completed and is awaiting ratification by Cameroon, Chad, Niger and Nigeria; a trilateral dispute over maritime boundaries and economic zones with Nigeria and Equatorial Guinea is now pending before the International Court of Justice.