Economy
Cameroon
Budget
revenues
$6.385 billion (2021 est.)
expenditures
$7.624 billion (2021 est.)
Exports
Exports 2021
$7.447 billion (2021 est.)
Exports 2022
$8.641 billion (2022 est.)
Exports 2023
$8.353 billion (2023 est.)
Imports
Imports 2021
$9.025 billion (2021 est.)
Imports 2022
$9.759 billion (2022 est.)
Imports 2023
$10.294 billion (2023 est.)
Industries
petroleum extraction and processing, aluminum manufacturing, food production, light consumer goods, textiles, timber, ship maintenance
Labor force
11.119 million (2024 est.)
Public debt
Public debt 2016
32.5% of GDP (2016 est.)
Remittances
Remittances 2021
1% of GDP (2021 est.)
Remittances 2022
1.3% of GDP (2022 est.)
Remittances 2023
1.6% of GDP (2023 est.)
Exchange rates
Currency
Cooperation Financiere en Afrique Centrale francs (XAF) per US dollar -
Exchange rates 2020
575.586 (2020 est.)
Exchange rates 2021
554.531 (2021 est.)
Exchange rates 2022
623.76 (2022 est.)
Exchange rates 2023
606.57 (2023 est.)
Exchange rates 2024
606.345 (2024 est.)
Debt - external
Debt - external 2023
$11.112 billion (2023 est.)
Economic overview
the largest economy in CEMAC, rich in natural resources; recent political turmoil and terrorism have diminished economic performance; prevalent corruption; weak enforcement of property rights; escalating poverty in northern areas
Unemployment rate
Unemployment rate 2022
3.7% (2022 est.)
Unemployment rate 2023
3.7% (2023 est.)
Unemployment rate 2024
3.6% (2024 est.)
Exports - partners
Netherlands 21%, France 14%, UAE 13%, India 9%, China 8% (2023)
Imports - partners
China 43%, France 6%, India 6%, Belgium 4%, UAE 4% (2023)
Real GDP per capita
Real GDP per capita 2022
$4,800 (2022 est.)
Real GDP per capita 2023
$4,900 (2023 est.)
Real GDP per capita 2024
$4,900 (2024 est.)
Real GDP growth rate
Real GDP growth rate 2022
3.7% (2022 est.)
Real GDP growth rate 2023
3.2% (2023 est.)
Real GDP growth rate 2024
3.7% (2024 est.)
Agricultural products
cassava, plantains, oil palm fruit, maize, taro, tomatoes, sorghum, sugarcane, bananas, vegetables (2023)
Exports - commodities
crude petroleum, natural gas, gold, cocoa beans, wood (2023)
Imports - commodities
garments, refined petroleum, plastic products, wheat, rice (2023)
Current account balance
Current account balance 2021
-$1.794 billion (2021 est.)
Current account balance 2022
-$1.505 billion (2022 est.)
Current account balance 2023
-$2.019 billion (2023 est.)
Taxes and other revenues
11.3% (of GDP) (2021 est.)
GDP (official exchange rate)
$51.327 billion (2024 est.)
GDP - composition, by end use
household consumption
74.5% (2024 est.)
government consumption
10.5% (2024 est.)
investment in inventories
0% (2024 est.)
investment in fixed capital
21.4% (2024 est.)
exports of goods and services
14.7% (2024 est.)
imports of goods and services
-21.1% (2024 est.)
Average household expenditures
on food
45.8% of household expenditures (2023 est.)
on alcohol and tobacco
2.9% of household expenditures (2023 est.)
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2022
6.2% (2022 est.)
Inflation rate (consumer prices) 2023
7.4% (2023 est.)
Inflation rate (consumer prices) 2024
4.5% (2024 est.)
Industrial production growth rate
1.9% (2024 est.)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022
$133.843 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$138.191 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$143.264 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
5.9% (2024 est.)
total
6.2% (2024 est.)
female
6.7% (2024 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2021
$4.3 billion (2021 est.)
Reserves of foreign exchange and gold 2022
$5.133 billion (2022 est.)
Reserves of foreign exchange and gold 2023
$4.882 billion (2023 est.)
GDP - composition, by sector of origin
industry
25.6% (2024 est.)
services
49.9% (2024 est.)
agriculture
17.4% (2024 est.)
Household income or consumption by percentage share
lowest 10%
2.1% (2021 est.)
highest 10%
31.1% (2021 est.)
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2021
42.2 (2021 est.)