Cameroonian Economy, Cameroon Economy
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Economy - overview: Because of its 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. International oil and cocoa prices have considerable impact on the economy.
GDP: 1.6% (2004)
GDP - real growth rate: 4.9% (2004 est.)
GDP - per capita: Purchasing power parity - $1,900 (2004 est.)
GDP - composition by sector: Agriculture: 43.7% industry: 20.1% services: 36.2% (2004 est.)
Population below poverty line: 48% (2000 est.)
Household income or consumption by percentage share: Lowest 10%: 1.9% highest 10%: 36.6% (1996)
Distribution of family income - Gini index: 47.7 (1996)
Inflation rate (consumer prices):
Labor force: 6.68 million (2004 est.)
Labor force - by occupation: Agriculture 70%, industry and commerce 13%, other 17%
Unemployment rate: 30% (2001 est.)
Budget: Revenues: $2.493 billion expenditures: $2.248 billion, including capital expenditures of NA (2004 est.)
Industries: Petroleum production and refining, aluminum production, food processing, light consumer goods, textiles, lumber, ship repair
Industrial production growth rate: 4.2% (1999 est.)
Electricity - production: 3.571 billion kWh (2002)
Electricity - production by source:
Electricity - consumption: 3.321 billion kWh (2002)
Electricity - exports: 0 kWh (2002)
Electricity - imports: 0 kWh (2002)
Oil - production: 94,000 bbl/day (2004 est.)
Oil - consumption: 22,000 bbl/day (2001 est.)
Oil - exports: NA
Oil - imports: NA
Oil - proved reserves: 80 million bbl (2004 est.)
Natural gas - production: 0 cu m (2001 est.)
Natural gas - consumption: 0 cu m (2001 est.)
Natural gas - exports: 0 cu m (2001 est.)
Natural gas - imports: 0 cu m (2001 est.)
Natural gas - proved reserves: 55.22 billion cu m (2004)
Agriculture - products: Coffee, cocoa, cotton, rubber, bananas, oilseed, grains, root starches; livestock; timber
Exports: $2.445 billion f.o.b. (2004 est.)
Exports - commodities: Crude oil and petroleum products, lumber, cocoa beans, aluminum, coffee, cotton
Exports - partners: Spain 15.2%, Italy 12.3%, UK 10.2%, France 9.2%, US 8.8%, South Korea 7.1%, Netherlands 4.3% (2004)
Imports: $1.979 billion f.o.b. (2004 est.)
Imports - commodities: Machinery, electrical equipment, transport equipment, fuel, food
Imports - partners: France 28.2%, Nigeria 9.9%, Belgium 7.6%, US 4.9%, China 4.8%, Germany 4.6%, Italy 4.1% (2004)
Debt - external: $8.46 billion (2004 est.)
Economic aid - recipient: On 23 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
Currency:
Currency code:
Exchange rates: Communaute Financiere Africaine francs (XAF) per US dollar - 528.29 (2004), 581.2 (2003), 696.99 (2002), 733.04 (2001), 711.98 (2000)
Fiscal year: 1 July - 30 June
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The information here has been derived from Public Domain Sources such as the CIA World Factbook. No liability can be taken for any inaccuracies.
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