Economical Data of Cameroon

7/29/2019 Economical Data of Cameroon

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Economical data of Cameroon

project would contribute to poverty alleviation and/or sustainable development.

About 40% of Cameroonians live below the poverty level defined as US$ 2 a day. With a population of 15 million, about70% live in rural areas, and 60% are employed in the agricultural sector. Northern Cameroon with its dry conditionsaccounts for about 45% of Cameroons population.

The project will contribute to poverty alleviation by first identifying and determining sources of farmers vulnerability andadaptability. The project will then generate a knowledge base that will permit ascertaining the economic and social impactsof climate change on vulnerable communities. The IPCC (2001) asserts that in general people who live on semi-arid lands,in low-lying coastal areas in water limited or flood-prone areas or on small islands are particularly vulnerable to climatechange. This may be true for the dry Sudano-sahelian region in Northern Cameroon. The resource poor farmers in theregion are at risk of bearing the brunt of future climate change. Researching, studying, analysing, reporting and influencingagricultural policy in Cameroon will improve official response and to empower this vulnerable community.

Economy - overview:Because of its modest oil resources and favorableagricultural conditions, Cameroon has one of the best-endowed primary commodity economies in sub-Saharan

Africa. St ill, it faces many of the serious problemsconfronting other underdeveloped countries, such asstagnant per capita income, a relatively inequitabledistribution of income, a top-heavy civil service, endemiccorruption, and a generally unfavorable climate for

business enterprise. Since 1990, the government hasembarked on various IMF and World Bank programsdesigned to spur business investment, increaseefficiency in agriculture, improve trade, and recapitalizethe nation's banks. The IMF is pressing for morereforms, including increased budget transparency,privatization, and poverty reduction programs. Subsidiesfor electricity, food, and fuel have strained the budget.New mining projects - in diamonds, for example - haveattracted foreign investment, but large ventures will taketime to develop. Cameroon's business environment -one of the world's worst - is a deterrent to foreigninvestment.

GDP (purchasing power parity):

$47.86 billion (2011 est.)
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country comparison to the world: 94$45.97 billion (2010 est.)$44.67 billion (2009 est.)note:data are in 2011 US dollars

GDP (official exchange rate):

$25.76 billion (2011 est.)

GDP - real growth rate:

4.1% (2011 est.)country comparison to the world: 952.9% (2010 est.)2% (2009 est.)

GDP - per capita (PPP):$2,300 (2011 est.)country comparison to the world: 185$2,300 (2010 est.)$2,200 (2009 est.)note:data are in 2011 US dollars

GDP - composition by sector:

agriculture: 19.5%

industry: 31%services: 49.5% (2011 est.)

Labor force:

8.083 million (2011 est.)country comparison to the world: 60

Labor force - by occupation:

agriculture: 70% industry: 13%

services: 17% (2001 est.)

Unemployment rate:

30% (2001 est.)country comparison to the world: 177

Population below poverty line:
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48% (2000 est.)

Household income or consumption by percentage share:

lowest 10%: 2.3%

highest 10%: 35.4% (2001)

Distribution of family income - Gini index:

44.6 (2001)country comparison to the world: 4347.7 (1996)

Investment (gross fixed):

19.6% of GDP (2011 est.)country comparison to the world: 102

Budget:

revenues: $5.01 billionexpenditures: $5.302 billion (2011 est.)

Taxes and other revenues:

19.5% of GDP (2011 est.)country comparison to the world: 166

Budget surplus (+) or deficit (-):

-1.1% of GDP (2011 est.)country comparison to the world:63

Public debt:

13.9% of GDP (2011 est.)country comparison to the world: 12713.5% of GDP (2010 est.)

Inflation rate (consumer prices):

2.9% (2011 est.)country comparison to the world: 571.3% (2010 est.)

Central bank discount rate:

NA% (31 December 2010 est.)
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country comparison to the world: 854.25% (31 December 2009 est.)

Commercial bank prime lending rate:

14.5% (31 December 2011 est.)country comparison to the world:5614% (31 December 2010 est.)

Stock of narrow money:

$3.259 billion (31 December 2011 est.)country comparison to the world: 114$3.264 billion (31 December 2010 est.)

Stock of broad money:


Stock of domestic credit:


Market value of publicly traded shares:

$NA

Agriculture - products:

coffee, cocoa, cotton, rubber, bananas, oilseed, grains,cassava (manioc); livestock; timber

Industries:

petroleum production and refining, aluminum production,food processing, light consumer goods, textiles, lumber,

ship repair

Industrial production growth rate:

4% (2010 est.)country comparison to the world: 80

Current account balance:
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-$1.361 billion (2011 est.)country comparison to the world: 130-$856.3 million (2010 est.)

Exports:

$5.549 billion (2011 est.)country comparison to the world: 111$4.485 billion (2010 est.)

Exports - commodities:

crude oil and petroleum products, lumber, cocoa beans,aluminum, coffee, cotton

Exports - partners:

Spain 13.3%, China 11.4%, Netherlands 9.7%, Italy8.8%, India 6.6%, France 6.4%, US 5.9%, Germany4.8%, Belgium 4% (2011)

Imports:

$6.108 billion (2011 est.)country comparison to the world: 120$4.663 billion (2010 est.)

Imports - commodities:

machinery, electrical equipment, transport equipment,fuel, food

Imports - partners:

China 16.9%, France 16.8%, Nigeria 12.4%, Belgium5.3%, Italy 4.3%, US 4.3% (2011)

Reserves of foreign exchange and gold :

$3.316 billion (31 December 2011 est.)

country comparison to the world: 100$3.665 billion (31 December 2010 est.)

Debt - external:

$3.147 billion (31 December 2011 est.)country comparison to the world: 132
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Exchange rates:

Cooperation Financiere en Afrique Centrale francs

(XAF) per dollar -471.87 (2011 est.)495.28 (2010 est.)472.19 (2009)447.81 (2008)493.51 (2007)

Fiscal year:

1 July - 30 Jun

INDIA

Economy - overview:

India is developing into an open-market economy, yettraces of its past autarkic policies remain. Economicliberalization, including industrial deregulation, privatization

of state-owned enterprises, and reduced controls on foreigntrade and investment, began in the early 1990s and hasserved to accelerate the country's growth, which hasaveraged more than 7% per year since 1997. India'sdiverse economy encompasses traditional village farming,modern agriculture, handicrafts, a wide range of modernindustries, and a multitude of services. Slightly more thanhalf of the work force is in agriculture, but services are themajor source of economic growth, accounting for more thanhalf of India's output, with only one-third of its labor force.

India has capitalized on its large educated English-speaking population to become a major exporter ofinformation technology services and software workers. In2010, the Indian economy rebounded robustly from theglobal financial crisis - in large part because of strongdomestic demand - and growth exceeded 8% year-on-year
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in real terms. However, India's economic growth in 2011slowed because of persistently high inflation and interestrates and little progress on economic reforms. Highinternational crude prices have exacerbated the

government's fuel subsidy expenditures contributing to ahigher fiscal deficit, and a worsening current accountdeficit. Little economic reform took place in 2011 largelydue to corruption scandals that have slowed legislativework. India's medium-term growth outlook is positive due toa young population and corresponding low dependencyratio, healthy savings and investment rates, and increasingintegration into the global economy. India has many long-term challenges that it has not yet fully addressed,including widespread poverty, inadequate physical and

social infrastructure, limited non-agricultural employmentopportunities, scarce access to quality basic and highereducation, and accommodating rural-to-urban migration.

GDP (purchasing power parity):

$4.515 trillion (2011 est.)

country comparison to the world: 4



note:data are in 2011 US dollars

GDP (official exchange rate):


GDP - real growth rate:

7.2% (2011 est.)

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10.6% (2010 est.)

6.6% (2009 est.)

GDP - per capita (PPP):

$3,700 (2011 est.)


$3,500 (2010 est.)

$3,200 (2009 est.)

note:data are in 2011 US dollars

GDP - composition by sector:

agriculture: 17.2%

industry: 26.4%

services: 56.4% (2011 est.)

Labor force:

487.6 million (2011 est.)


Labor force - by occupation:

agriculture: 52%

industry: 14%

services: 34% (2009 est.)

Unemployment rate:

9.8% (2011 est.)
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10% (2010 est.)

Population below poverty line:

29.8% (2010 est.)

Household income or consumption by percentage share:

lowest 10%: 3.6%

highest 10%: 31.1% (2005)

Distribution of family income - Gini index:

36.8 (2004)


37.8 (1997)

Investment (gross fixed):

32.8% of GDP (2011 est.)


Budget:

revenues: $196.4 billion

expenditures: $308.8 billion (2011 est.)

Taxes and other revenues:

11.7% of GDP (2011 est.)

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2129rank.html?countryName=India&countryCode=in&regionCode=sas&rank=109#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2046https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2047https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2172https://www.cia.gov/library/publications/the-world-factbook/rankorder/2172rank.html?countryName=India&countryCode=in&regionCode=sas&rank=79#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2185https://www.cia.gov/library/publications/the-world-factbook/rankorder/2185rank.html?countryName=India&countryCode=in&regionCode=sas&rank=14#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2056https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2221https://www.cia.gov/library/publications/the-world-factbook/rankorder/2221rank.html?countryName=India&countryCode=in&regionCode=sas&rank=206#inhttps://www.cia.gov/library/publications/the-world-factbook/rankorder/2221rank.html?countryName=India&countryCode=in&regionCode=sas&rank=206#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2221https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2056https://www.cia.gov/library/publications/the-world-factbook/rankorder/2185rank.html?countryName=India&countryCode=in&regionCode=sas&rank=14#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2185https://www.cia.gov/library/publications/the-world-factbook/rankorder/2172rank.html?countryName=India&countryCode=in&regionCode=sas&rank=79#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2172https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2047https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2046https://www.cia.gov/library/publications/the-world-factbook/rankorder/2129rank.html?countryName=India&countryCode=in&regionCode=sas&rank=109#in


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Budget surplus (+) or deficit (-):

-6.7% of GDP (2011 est.)


Public debt:

48.5% of GDP (2011 est.)


51.4% of GDP (2010 est.)

note:data cover central government debt, and exclude

debt instruments issued (or owned) by government entitiesother than the treasury; the data include treasury debt heldby foreign entities; the data exclude debt issued bysubnational entities, as well as int ra-governmental debt;intra-governmental debt consists of treasury borrowingsfrom surpluses in the social funds, such as for retirement,medical care, and unemployment; debt instruments for thesocial funds are not sold at public auctions

Inflation rate (consumer prices):

8.9% (2011 est.)


12% (2010 est.)

Central bank discount rate:

5.5% (31 December 2010 est.)


6% (31 December 2009 est.)

Commercial bank prime lending rate:
https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2222https://www.cia.gov/library/publications/the-world-factbook/rankorder/2222rank.html?countryName=India&countryCode=in&regionCode=sas&rank=181#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2186https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html?countryName=India&countryCode=in&regionCode=sas&rank=60#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2092https://www.cia.gov/library/publications/the-world-factbook/rankorder/2092rank.html?countryName=India&countryCode=in&regionCode=sas&rank=186#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2207https://www.cia.gov/library/publications/the-world-factbook/rankorder/2207rank.html?countryName=India&countryCode=in&regionCode=sas&rank=61#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2208https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2208https://www.cia.gov/library/publications/the-world-factbook/rankorder/2207rank.html?countryName=India&countryCode=in&regionCode=sas&rank=61#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2207https://www.cia.gov/library/publications/the-world-factbook/rankorder/2092rank.html?countryName=India&countryCode=in&regionCode=sas&rank=186#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2092https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html?countryName=India&countryCode=in&regionCode=sas&rank=60#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2186https://www.cia.gov/library/publications/the-world-factbook/rankorder/2222rank.html?countryName=India&countryCode=in&regionCode=sas&rank=181#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2222


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10.17% (31 December 2011 est.)


10.167% (31 December 2010 est.)

Stock of narrow money:




Stock of broad money:

$1.293 trillion (31 December 2011 est.)



Stock of domestic credit:




Market value of publicly traded shares:

$1.015 trillion (31 December 2011)




Agriculture - products:
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2208rank.html?countryName=India&countryCode=in&regionCode=sas&rank=94#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2214https://www.cia.gov/library/publications/the-world-factbook/rankorder/2214rank.html?countryName=India&countryCode=in&regionCode=sas&rank=16#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2215https://www.cia.gov/library/publications/the-world-factbook/rankorder/2215rank.html?countryName=India&countryCode=in&regionCode=sas&rank=15#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2211https://www.cia.gov/library/publications/the-world-factbook/rankorder/2211rank.html?countryName=India&countryCode=in&regionCode=sas&rank=14#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2200https://www.cia.gov/library/publications/the-world-factbook/rankorder/2200rank.html?countryName=India&countryCode=in&regionCode=sas&rank=9#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2052https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2052https://www.cia.gov/library/publications/the-world-factbook/rankorder/2200rank.html?countryName=India&countryCode=in&regionCode=sas&rank=9#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2200https://www.cia.gov/library/publications/the-world-factbook/rankorder/2211rank.html?countryName=India&countryCode=in&regionCode=sas&rank=14#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2211https://www.cia.gov/library/publications/the-world-factbook/rankorder/2215rank.html?countryName=India&countryCode=in&regionCode=sas&rank=15#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2215https://www.cia.gov/library/publications/the-world-factbook/rankorder/2214rank.html?countryName=India&countryCode=in&regionCode=sas&rank=16#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2214https://www.cia.gov/library/publications/the-world-factbook/rankorder/2208rank.html?countryName=India&countryCode=in&regionCode=sas&rank=94#in


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rice, wheat, oilseed, cotton, jute, tea, sugarcane, lentils,onions, potatoes; dairy products, sheep, goats, poultry; fish

Industries:

textiles, chemicals, food processing, steel, transportationequipment, cement, mining, petroleum, machinery,software, pharmaceuticals

Industrial production growth rate:

4.8% (2011 est.)


Current account balance:

-$41.4 billion (2011 est.)


-$57.73 billion (2010 est.)

Exports:

$299.4 billion (2011 est.)


$225.3 billion (2010 est.)

Exports - commodities:

petroleum products, precious stones, machinery, iron andsteel, chemicals, vehicles, apparel

Exports - partners:

UAE 13%, US 11.4%, China 6.3%, Singapore 5.3% (2011)
https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2090https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2089https://www.cia.gov/library/publications/the-world-factbook/rankorder/2089rank.html?countryName=India&countryCode=in&regionCode=sas&rank=69#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2187https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html?countryName=India&countryCode=in&regionCode=sas&rank=184#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2078https://www.cia.gov/library/publications/the-world-factbook/rankorder/2078rank.html?countryName=India&countryCode=in&regionCode=sas&rank=21#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2049https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2050https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2050https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2049https://www.cia.gov/library/publications/the-world-factbook/rankorder/2078rank.html?countryName=India&countryCode=in&regionCode=sas&rank=21#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2078https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html?countryName=India&countryCode=in&regionCode=sas&rank=184#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2187https://www.cia.gov/library/publications/the-world-factbook/rankorder/2089rank.html?countryName=India&countryCode=in&regionCode=sas&rank=69#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2089https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2090


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Imports:

$461.4 billion (2011 est.)


$357.5 billion (2010 est.)

Imports - commodities:

crude oil, precious stones, machinery, fertilizer, iron andsteel, chemicals

Imports - partners:

China 12.1%, UAE 8.3%, Saudi Arabia 5.8%, US 5.1%,Switzerland 4.7% (2011)

Reserves of foreign exchange and gold:




Debt - external:




Stock of direct foreign investment - at home:

$230 billion (31 December 2011 est.)


https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2087https://www.cia.gov/library/publications/the-world-factbook/rankorder/2087rank.html?countryName=India&countryCode=in&regionCode=sas&rank=12#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2058https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2061https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2188https://www.cia.gov/library/publications/the-world-factbook/rankorder/2188rank.html?countryName=India&countryCode=in&regionCode=sas&rank=10#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2079https://www.cia.gov/library/publications/the-world-factbook/rankorder/2079rank.html?countryName=India&countryCode=in&regionCode=sas&rank=30#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2198https://www.cia.gov/library/publications/the-world-factbook/rankorder/2198rank.html?countryName=India&countryCode=in&regionCode=sas&rank=21#inhttps://www.cia.gov/library/publications/the-world-factbook/rankorder/2198rank.html?countryName=India&countryCode=in&regionCode=sas&rank=21#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2198https://www.cia.gov/library/publications/the-world-factbook/rankorder/2079rank.html?countryName=India&countryCode=in&regionCode=sas&rank=30#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2079https://www.cia.gov/library/publications/the-world-factbook/rankorder/2188rank.html?countryName=India&countryCode=in&regionCode=sas&rank=10#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2188https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2061https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2058https://www.cia.gov/library/publications/the-world-factbook/rankorder/2087rank.html?countryName=India&countryCode=in&regionCode=sas&rank=12#inhttps://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html#2087


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Stock of direct foreign investment - abroad:




Exchange rates:

Indian rupees (INR) per US dollar -

46.67 (2011 est.)

45.726 (2010 est.)

48.405 (2009)

43.319 (2008)

41.487 (2007)

Fiscal year:

1 April - 31 March
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Currency CFA Franc(XAF)

Fiscal year Calendar year

Trade

organisations

AU,WTO

Statistics

GDP $47.12 billion (2011)

Rank: 94th (2011)[1]

GDP growth 3.8% (2011)

GDP per capita $2,300 (2011)

GDP by sector agriculture(19.7%),industry(31.9%),services(48.4%) (2011)

Inflation(CPI) 3.4% (2011)

Population

belowpoverty

line

48% (2000)

Labour force 8.094 million (2011)

Labour force

by occupation

agriculture(70%),industryandcommerce(13%), other (17%)

Unemployment 30% (2001)

Main

industries

petroleumproduction

andrefining,aluminiumproduction,foodprocessing, light

consumer goods,textiles,lumber,shiprepair

Ease of Doing 161st[2]
http://en.wikipedia.org/wiki/CFA_Franchttp://en.wikipedia.org/wiki/CFA_Franchttp://en.wikipedia.org/wiki/ISO_4217http://en.wikipedia.org/wiki/ISO_4217http://en.wikipedia.org/wiki/ISO_4217http://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/African_Unionhttp://en.wikipedia.org/wiki/African_Unionhttp://en.wikipedia.org/wiki/World_Trade_Organizationhttp://en.wikipedia.org/wiki/World_Trade_Organizationhttp://en.wikipedia.org/wiki/World_Trade_Organizationhttp://en.wikipedia.org/wiki/Gross_domestic_producthttp://en.wikipedia.org/wiki/Gross_domestic_producthttp://en.wikipedia.org/wiki/Economy_of_Cameroon#cite_note-0http://en.wikipedia.org/wiki/Economy_of_Cameroon#cite_note-0http://en.wikipedia.org/wiki/Economy_of_Cameroon#cite_note-0http://en.wikipedia.org/wiki/Agriculturehttp://en.wikipedia.org/wiki/Agriculturehttp://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Service_(economics)http://en.wikipedia.org/wiki/Service_(economics)http://en.wikipedia.org/wiki/Service_(economics)http://en.wikipedia.org/wiki/Inflationhttp://en.wikipedia.org/wiki/Inflationhttp://en.wikipedia.org/wiki/Consumer_price_indexhttp://en.wikipedia.org/wiki/Consumer_price_indexhttp://en.wikipedia.org/wiki/Consumer_price_indexhttp://en.wikipedia.org/wiki/Poverty_thresholdhttp://en.wikipedia.org/wiki/Poverty_thresholdhttp://en.wikipedia.org/wiki/Poverty_thresholdhttp://en.wikipedia.org/wiki/Poverty_thresholdhttp://en.wikipedia.org/wiki/Agriculturehttp://en.wikipedia.org/wiki/Agriculturehttp://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Commercehttp://en.wikipedia.org/wiki/Commercehttp://en.wikipedia.org/wiki/Commercehttp://en.wikipedia.org/wiki/Petroleumhttp://en.wikipedia.org/wiki/Petroleumhttp://en.wikipedia.org/wiki/Refininghttp://en.wikipedia.org/wiki/Refininghttp://en.wikipedia.org/wiki/Aluminiumhttp://en.wikipedia.org/wiki/Aluminiumhttp://en.wikipedia.org/wiki/Aluminiumhttp://en.wikipedia.org/wiki/Foodhttp://en.wikipedia.org/wiki/Foodhttp://en.wikipedia.org/wiki/Foodhttp://en.wikipedia.org/wiki/Textileshttp://en.wikipedia.org/wiki/Textileshttp://en.wikipedia.org/wiki/Textileshttp://en.wikipedia.org/wiki/Lumberhttp://en.wikipedia.org/wiki/Lumberhttp://en.wikipedia.org/wiki/Shiphttp://en.wikipedia.org/wiki/Shiphttp://en.wikipedia.org/wiki/Shiphttp://en.wikipedia.org/wiki/Ease_of_doing_business_indexhttp://en.wikipedia.org/wiki/Economy_of_Cameroon#cite_note-World_Bank_and_International_Financial_Corporation-1http://en.wikipedia.org/wiki/Economy_of_Cameroon#cite_note-World_Bank_and_International_Financial_Corporation-1http://en.wikipedia.org/wiki/Economy_of_Cameroon#cite_note-World_Bank_and_International_Financial_Corporation-1http://en.wikipedia.org/wiki/Economy_of_Cameroon#cite_note-World_Bank_and_International_Financial_Corporation-1http://en.wikipedia.org/wiki/Ease_of_doing_business_indexhttp://en.wikipedia.org/wiki/Shiphttp://en.wikipedia.org/wiki/Lumberhttp://en.wikipedia.org/wiki/Textileshttp://en.wikipedia.org/wiki/Foodhttp://en.wikipedia.org/wiki/Aluminiumhttp://en.wikipedia.org/wiki/Refininghttp://en.wikipedia.org/wiki/Petroleumhttp://en.wikipedia.org/wiki/Commercehttp://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Agriculturehttp://en.wikipedia.org/wiki/Poverty_thresholdhttp://en.wikipedia.org/wiki/Poverty_thresholdhttp://en.wikipedia.org/wiki/Consumer_price_indexhttp://en.wikipedia.org/wiki/Inflationhttp://en.wikipedia.org/wiki/Service_(economics)http://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Agriculturehttp://en.wikipedia.org/wiki/Economy_of_Cameroon#cite_note-0http://en.wikipedia.org/wiki/Gross_domestic_producthttp://en.wikipedia.org/wiki/World_Trade_Organizationhttp://en.wikipedia.org/wiki/African_Unionhttp://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/ISO_4217http://en.wikipedia.org/wiki/CFA_Franc


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Business Rank

External

Exports $5.361bn (2011)

Export goods crude oilandpetroleum

products,lumber,cocoabeans,aluminium,coffee,cotton

Main export

partners

Spain15.1%,Netherlands12.8%, thePeople's Republic of

China9.4%,Italy9.3%,France6.5%,U.S.6.4% (2011)

Imports $5.901bn (2011)

Import goods machinery,electricalequipment,transportequipment,fuel,food

Main import

partners

France19.1%, thePeople's Republic of

China13.3%,Nigeria12.4%,Belgium5.5%,Germany4%

(2011)

Public finances

Public debt 16.2% ofGDP(2011)

Revenues 2.493bn 2004)

Expenses $2.248bn (2004)

Economic aid The Paris Club agreed to reduce Cameroon's debt of $1.3

billion by $900 million, debt relief now totals $1.26 billion

(2001)

Credit rating B (Domestic)

B (Foreign)

BBB- (T&C Assessment)

(Standard & Poor's)[3]

Main data source: CIA World Fact Book
http://en.wikipedia.org/wiki/Ease_of_doing_business_indexhttp://en.wikipedia.org/wiki/Crude_oilhttp://en.wikipedia.org/wiki/Crude_oilhttp://en.wikipedia.org/wiki/Petroleum_producthttp://en.wikipedia.org/wiki/Petroleum_producthttp://en.wikipedia.org/wiki/Petroleum_producthttp://en.wikipedia.org/wiki/Lumberhttp://en.wikipedia.org/wiki/Lumberhttp://en.wikipedia.org/wiki/Lumberhttp://en.wikipedia.org/wiki/Cocoa_beanhttp://en.wikipedia.org/wiki/Cocoa_beanhttp://en.wikipedia.org/wiki/Cocoa_beanhttp://en.wikipedia.org/wiki/Aluminiumhttp://en.wikipedia.org/wiki/Aluminiumhttp://en.wikipedia.org/wiki/Coffeehttp://en.wikipedia.org/wiki/Coffeehttp://en.wikipedia.org/wiki/Coffeehttp://en.wikipedia.org/wiki/Cottonhttp://en.wikipedia.org/wiki/Cottonhttp://en.wikipedia.org/wiki/Cottonhttp://en.wikipedia.org/wiki/Spainhttp://en.wikipedia.org/wiki/Spainhttp://en.wikipedia.org/wiki/Netherlandshttp://en.wikipedia.org/wiki/Netherlandshttp://en.wikipedia.org/wiki/Netherlandshttp://en.wikipedia.org/wiki/People%27s_Republic_of_Chinahttp://en.wikipedia.org/wiki/People%27s_Republic_of_Chinahttp://en.wikipedia.org/wiki/People%27s_Republic_of_Chinahttp://en.wikipedia.org/wiki/Italyhttp://en.wikipedia.org/wiki/Italyhttp://en.wikipedia.org/wiki/Italyhttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Machineryhttp://en.wikipedia.org/wiki/Machineryhttp://en.wikipedia.org/wiki/Electricalhttp://en.wikipedia.org/wiki/Electricalhttp://en.wikipedia.org/wiki/Electricalhttp://en.wikipedia.org/wiki/Transporthttp://en.wikipedia.org/wiki/Transporthttp://en.wikipedia.org/wiki/Transporthttp://en.wikipedia.org/wiki/Fuelhttp://en.wikipedia.org/wiki/Fuelhttp://en.wikipedia.org/wiki/Fuelhttp://en.wikipedia.org/wiki/Foodhttp://en.wikipedia.org/wiki/Foodhttp://en.wikipedia.org/wiki/Foodhttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/People%27s_Republic_of_Chinahttp://en.wikipedia.org/wiki/People%27s_Republic_of_Chinahttp://en.wikipedia.org/wiki/People%27s_Republic_of_Chinahttp://en.wikipedia.org/wiki/People%27s_Republic_of_Chinahttp://en.wikipedia.org/wiki/Nigeriahttp://en.wikipedia.org/wiki/Nigeriahttp://en.wikipedia.org/wiki/Nigeriahttp://en.wikipedia.org/wiki/Belgiumhttp://en.wikipedia.org/wiki/Belgiumhttp://en.wikipedia.org/wiki/Belgiumhttp://en.wikipedia.org/wiki/Germanyhttp://en.wikipedia.org/wiki/Germanyhttp://en.wikipedia.org/wiki/Germanyhttp://en.wikipedia.org/wiki/GDPhttp://en.wikipedia.org/wiki/GDPhttp://en.wikipedia.org/wiki/GDPhttp://en.wikipedia.org/wiki/List_of_countries_by_credit_ratinghttp://en.wikipedia.org/wiki/Standard_%26_Poor%27shttp://en.wikipedia.org/wiki/Standard_%26_Poor%27shttp://en.wikipedia.org/wiki/Economy_of_Cameroon#cite_note-2http://en.wikipedia.org/wiki/Economy_of_Cameroon#cite_note-2http://en.wikipedia.org/wiki/Economy_of_Cameroon#cite_note-2https://www.cia.gov/library/publications/the-world-factbook/geos/cm.htmlhttps://www.cia.gov/library/publications/the-world-factbook/geos/cm.htmlhttps://www.cia.gov/library/publications/the-world-factbook/geos/cm.htmlhttp://en.wikipedia.org/wiki/Economy_of_Cameroon#cite_note-2http://en.wikipedia.org/wiki/Standard_%26_Poor%27shttp://en.wikipedia.org/wiki/List_of_countries_by_credit_ratinghttp://en.wikipedia.org/wiki/GDPhttp://en.wikipedia.org/wiki/Germanyhttp://en.wikipedia.org/wiki/Belgiumhttp://en.wikipedia.org/wiki/Nigeriahttp://en.wikipedia.org/wiki/People%27s_Republic_of_Chinahttp://en.wikipedia.org/wiki/People%27s_Republic_of_Chinahttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/Foodhttp://en.wikipedia.org/wiki/Fuelhttp://en.wikipedia.org/wiki/Transporthttp://en.wikipedia.org/wiki/Electricalhttp://en.wikipedia.org/wiki/Machineryhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/Italyhttp://en.wikipedia.org/wiki/People%27s_Republic_of_Chinahttp://en.wikipedia.org/wiki/People%27s_Republic_of_Chinahttp://en.wikipedia.org/wiki/Netherlandshttp://en.wikipedia.org/wiki/Spainhttp://en.wikipedia.org/wiki/Cottonhttp://en.wikipedia.org/wiki/Coffeehttp://en.wikipedia.org/wiki/Aluminiumhttp://en.wikipedia.org/wiki/Cocoa_beanhttp://en.wikipedia.org/wiki/Lumberhttp://en.wikipedia.org/wiki/Petroleum_producthttp://en.wikipedia.org/wiki/Petroleum_producthttp://en.wikipedia.org/wiki/Crude_oilhttp://en.wikipedia.org/wiki/Ease_of_doing_business_index


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All values, unless otherwise stated, are inUS dollars

General Information:Country name:

conventional long form: Republic of Cameroon conventional short form: Cameroonlocal long form: Republique du Cameroun/Republic ofCameroonlocal short form: Cameroun/Cameroonformer: French Cameroon, British Cameroon, Federal

Republic of Cameroon, United Republic of Cameroon

Government type:

republic; multiparty presidential regime

Capital:

name: Yaound
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geographic coordinates: 3 52 N, 11 31 E time difference: UTC+1 (6 hours ahead of Washington, DCduring Standard Time)

Administrative divisions:

10 regions (regions, singular - region); Adamaoua, Centre,Est, Extreme-Nord, Littoral, Nord, North-West (Nord-Ouest), Ouest, Sud, South-West (Sud-Ouest)

Independence:

1 January 1960 (from French-administered UN trusteeship)

National holiday:

Republic Day (National Day), 20 May (1972)

Constitution:

approved by referendum 20 May 1972; adopted 2 June1972; revised January 1996; amended April 2008

Legal system:

mixed legal system of English common law, French civillaw, and customary law

International law organization participation:

accepts compulsory ICJ jurisdiction; non-party state to theICCt

Suffrage:

20 years of age; universal

Executive branch:

chief of state: President Paul BIYA (since 6 November1982)

head of government: Prime Minister Philemon YANG(since 30 June 2009)cabinet: Cabinet appointed by the president fromproposals submitted by the prime minister

(For more information visit the World Leaders website )elections: president elected by popular vote for a seven-
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year term (with no term limits per 2008 constitutionalamendment); election last held on 9 October 2011 (next tobe held in October 2018); prime minister appointed by thepresident

election results: President Paul BIYA reelected; percent ofvote - Paul BIYA 78.0%, John FRU NDI 10.7%, GargaHaman ADJI 3.2%, Adamou Ndam NJOYA 1.7%, Paul

Abine AYAH 1.3%, other 5.1%

Legislative branch:

unicameral National Assembly or Assemblee Nationale(180 seats; members are elected by direct popular vote toserve five-year terms); note - the president can eitherlengthen or shorten the term of the legislature

elections: last held on 22 July 2007 (next to be held inFebruary 2013)election results: percent of vote by party - NA; seats byparty - CPDM 140, SDF 14, UDC 4, UNDP 4, MP 1, vacant17note:the constitution calls for an upper chamber for thelegislature, to be called a Senate, but it has yet to beestablished

Judicial branch:

Supreme Court (judges are appointed by the president);High Court of Justice (consists of nine judges and sixsubstitute judges; elected by the National Assembly)

Political parties and leaders:

Cameroon People's Democratic Movement or CPDM [PaulBIYA]; Cameroonian Democratic Union or UDC [AdamouNdam NJOYA]; Movement for the Defense of the Republicor MDR [Dakole DAISSALA]; Movement for the Liberation

and Development of Cameroon or MLDC [Marcel YONDO];National Union for Democracy and Progress or UNDP[Maigari BELLO BOUBA]; Progressive Movement or MP;Social Democratic Front or SDF [John FRU NDI]; Union ofPeoples of Cameroon or UPC [Augustin Frederic KODOCK]

Political pressure groups and leaders:
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Human Rights Defense Group [Albert MUKONG, president];Southern Cameroon National Council [Ayamba Ette OTUN]

International organization participation:

ACP, AfDB, AU, BDEAC, C, CEMAC, FAO, FZ, G-77, IAEA,IBRD, ICAO, ICC, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO,IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU,ITUC, MIGA, MONUSCO, NAM, OIC, OIF, OPCW, PCA,UN, UNAMID, UNCTAD, UNESCO, UNHCR, UNIDO,UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO

Diplomatic representation in the US:

chief of mission: Ambassador Joseph FOE-ATANGANAchancery: 2349 Massachusetts Avenue NW, Washington,

DC 20008telephone: [1] (202) 265-8790FAX: [1] (202) 387-3826

Diplomatic representation from the US :

chief of mission: Ambassador Robert P. JACKSON embassy: Avenue Rosa Parks, Yaounde mailing address: P. O. Box 817, Yaounde; pouch:

Amer ican Embassy, US Depar tment of State, Washington,

DC 20521-2520telephone: [237] 2220 15 00; Consular: [237] 2220 16 03 FAX: [237] 2220 16 00 Ext. 4531; Consular FAX: [237]2220 17 52branch office(s): Douala

Flag description:

three equal vertical bands of green (hoist side), red, andyellow, with a yellow five-pointed star centered in the redband; the vertical tricolor recalls the flag of France; red

symbolizes unity, yellow the sun, happiness, and thesavannahs in the north, and green hope and the forests inthe south; the star is referred to as the "star of unity"note:uses the popular Pan-African colors of Ethiopia

National symbol(s):
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Lion

National anthem:

name: "O Cameroun, Berceau de nos Ancetres" (O

Cameroon, Cradle of Our Forefathers) lyrics/music: Rene Djam AFAME, Samuel Minkio BAMBA,Moise Nyatte NKO'O [French], Benard Nsokika FONLON[English]/Rene Djam AFAME note:adopted 1957; Cameroon's anthem, also known as"Chant de Ralliement" (The Rallying Song), has been usedunofficially since 1948 and officially adopted in 1957; theanthem has French and English versions whose lyrics diffe
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The Economy

Cameroon, which is often described as 'Africa in miniature' has a very wide

diversity of physical forms, flora and fauna. The landscape varies from

dense tropical forest, through savannah type grasslands and semi-desert in

the north. It is centrally located in West Africa and borders on Central

Africa. It has a 200km coastline, important for fisheries, tourism and as an

outlet for its neighbouring landlocked countries.

Until the discovery and production of oil in 1978, agriculture was themainstay of the economy, accounting for 32% of GDP in the late 1970s.

With oil quickly becoming the main foreign exchange earner, agriculture

suffered a period of neglect and although it has shown recovery over the

past five years, forms 21% of GDP today.

The production of oil in Cameroon has had a chequered history. Output

reached a peak of 164,000 barrels per day (bpd) in the mid 1980 but then

declined steadily until the late 1990s when the development of marginalfields led to a brief recovery. High expectations of new exploitable fields

failed to materialise and as the existing fields matured, production

continued to decline. In 2005, average production was 85,000 bpd. In 2004,

Cameroon's oil reserves were estimated at around 400m barrels.

However, the country's oil sector received a massive boost when, in 2002,

the International Court of Justice resolved a long-standing dispute with

Nigeria over the sovereignty of the oil-bearing Bakassi peninsula. Nigeriawithdrew from the peninsula in 2006 opening up new, potentially rich

oilfields. Cameroon's gas reserves, estimated at around 4 trillion cubic feet,

have not yet been exploited. The country is projected to earn $550m over

28 years from royalties accruing from a subterranean oil pipeline from Chad

to the oil terminal at Kribi port.


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The mining sector contributed 4.3% to GDP in 2004 but it is still the largest

foreign exchange earner, realising $1.1bn in 2003.

Manufacturing contributed 20% of GDP in 2004. Most manufacturing is

concentrated around the processing of agricultural goods and raw materialsand assembly of imported components. In the 1990s, with state-owned

companies performing poorly, the government embarked on an expanded

programme of privatisations but the largest single state company, the

Cameroon Development Corporation (CDC) remains in state hands.

Cameroon is diversifying its exports despite many obstacles. The

government and the private sector agree that Cameroon's exports earnings

rely too much on primary products. Without the oil revenues, Cameroon'strade balance would be in deficit.

In 2005, Cameroon exported 6,434m tonnes of goods, with a value of

$2.99bn, a fall of 6.8% in volume terms and a rise of 20% in value terms,

compared to 2004. Five products account for 71.4% of the export receipts

in 2005: oil (43.8%), sawn timber (11.8%), cocoa beans (7.4%), raw cotton

(4.6%) and aluminium ingots (3.8%).

This reliance on the export of primary commodities is dangerous as the

prices of these products are dependent on international markets. This

directly affects local producers' revenues. This was particularly noticeable

in the cocoa and coffee sectors, where a fall in the world price of these

commodities affected local incomes and led to a decline in the quality and

the quantity of their production.

It is vital to identify and target new markets for all of Cameroon's potential

exports. Asia would seem to be the ideal region. Since 2000 China hasbecome a significant trade partner, underpinned by the four visits of

President Paul Biya to the country. In the bilateral plan, China is the first

trade partner of Cameroon in Asia and was the third most important

exporter to Cameroon in 2005.


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The EU remains Cameroon's main export market, earning CFA931bn

($1.8bn) and taking 67% of its exports. Within the EU, Spain accounts for

19% of Cameroon's exports, followed by France (12.4%) and Italy (11.5%).

Whilst Central Africa is the principal customer of Cameroon's manufacturedgoods, Cameroon remains the largest importers of raw materials from West

Africa, amounting to 29% of all the country's imports. Imports are primarily

made up of crude oil from Nigeria for the national refining company and

bauxite from Guinea for Alucam which smelts it into aluminium for local and

foreign markets.

Cameroon at a glance

Government: Republic, multiparty presidential system

Head of State: President Paul Biya (since 1982)

Prime Minister: Ephraim Inoni (since 2004)

Administration: 10 provinces

Political capital: Yaounde

Commercial capital: Douala

Population: 16.3m (comprising of more than 250 ethnic

groups)

Population growth: 2.04%

Literacy (over 15 years 79%

of age):

Religions: Animist, Christian, Muslim

Official languages: English, French


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Source high beam research

Cameroon has two current claims to international fame. The first is the prowess of

its national soccer team, which has won the African Nations Cup three times and in1990 became the first African team to reach the quarter finals of the World Cup. The

other is less laudable: Cameroon is notorious for being rated the world's most

corrupt nation by Transparency International.

Britain became the dominant foreign power in the country in the early nineteenth

century and English became the lingua franca throughout Cameroon. Yet Cameroon

became a German protectorate on 12 July 1884 because the envoy of the British

colonial office, Edward Hewett, arrived a few days after the Germans had signed anannexation treaty with some local chiefs.

After World War One the League of Nations divided the colony into two, with four-

fifths of the territory allocated to France and a fifth to Britain. In 1960 the French

section was granted independence and a year later, after a UN-supervised

Now boasting the most diversified economy in the region, Cameroon has achieved

rapid expansion and industrialisation. Political stability and an excellent business

environment have also helped create an attractive investment destination. The

country is now open for business.

The Economie and Monetary Community of Central Africa (CFMAC) comprises six

countries with common borders (Central African Republic, Chad, Cameroon, Congo,

Equatorial Guinea and Gabon). Only one country, CAR, is not yet an oil producer.

Forty per cent ot the goods produced by the six CFMAC slates are from Cameroon.

The tigure rises to 58% it" oil production is excluded. Half of CEMAC's population

lives


26/29

This article has been written by Nye Williams, a student at St Paul's School. It looks

at the African country of Cameroon and covers some of the key economic data

relating to the country and some of the portents for the future. It could be used as a

case study with students covering Development Economics. Nye has added some

questions at the end to help build some of the understanding and the skills linked

with studies of Development Economics.

Cameroon, sometimes known as the 'hinge of Africa', is a 'small' West African

country, about the same geographical size as California. Favourable comparisons

stop there. Cameroon, a French colony until 1961, has per capita GDP (PPP basis) of

Palm plantations--a priority sector for investment

CargIll from the US is prepared to invest between 100 and 200 billion CFA francs in

palm oil plantations. Some 50,000 hectares will be exploited and 10,000 jobs

created. Marthe Angeline Mindja, Director General of the Investment Promotion

Agency (API, outlined their aim. She said, "They have an expansion programme in

the region and they want to increase the plantation of palm oil-producing trees,

particularly in Cameroon. The oil palm sector has been identified as a priority sector

in our country where agriculture figures prominently in our strategy for growth and

employment."

Cameroon offers excellent opportunities for investors seeking to reach the rich

markets of Central Africa. Its political and economic stability, its strategic position,its educated bilingual workforce and its favourable business environment all make

Cameroon the destination of choice of foreign investors in Africa.

Palm plantations - a priority sector for investment


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Carglll from the US is prepared to invest between 100 and 200 billion CFA francs in

palm oil plantations. Some 50,000 hectares will be exploited and 10,000 jobs

created. Marthe Ange/ine Mindja, Director General of the Investment Promotion

Agency (API), outlined their aim. She said, "They have an expansion

OFTEN REFERRED TO as the hinge of Africa, Cameroon is located in the

continent's north-central region and possesses one of the best-endowed primary

commodity economies south of the Sahara desert. Rich oil resources and favorable

agricultural conditions have helped to define the nation's business landscape, though

many industries have experienced growth in recent years. Because of Cameroon's

rapid economic expansion, the country depends more than ever on the efforts of its

internal audit practitioners.

ROOTS IN GOVERNMENT

Internal auditing in Cameroon originated in the public sector. When the country

gained independence from France and Great Britain in the

Finance and Banking

Cameroons financial system is the largest in the CEMAC region. Access tofinancial services is limited, particularly for SMEs. Aside from a traditionaltendency for banks to prefer dealing with large, established companies,determining factors are also found in interest rates for loans to SMEs beingcapped at 15 percent and being heavily taxed. As of 2006, bank loans toSMEs hardly reached 15 percent of total outstanding loans.

Less than 5 percent of Cameroonians have access to a bank account.While the microfinance sector is consequently becoming increasinglyimportant, its development is hampered by a loose regulatory andsupervisory framework for microfinance institutions (MFIs). The bankingsector is highly concentrated and dominated by foreign commercial banks.6 out of the 11 largest commercial banks are foreign-owned, and the threelargest banks hold more than 50 percent of total financial system assets.


28/29

While foreign banks generally display good solvency ratios, small domesticbanks are in a much weaker position. Their capitalization is well below theaverage of banks in the CEMAC region and their profits are close to 2percent, compared to 20 percent for foreign banks in the country. This ispartially explained by the high levels of non-performing loans, whichreached 12 percent in 2007, leading to most banks holding large amountsof excess reserves as a percentage of deposits and large levels ofunutilized liquidity.

Macro-economic trend

This is a chart of trend of gross domestic product of Cameroon at marketpricesestimatedby the International Monetary Fund with figures in millionsof Central African CFA Francs.

Year Gross Domestic Product US Dollar Exchange

1980 1,600,186 209.20 Francs

1985 4,355,977 471.12 Francs

1990 3,804,428 300.65 Francs

1995 4,686,286 518.62 Francs

2000 6,612,385 658.21 Francs

2005 8,959,279 527.29 Francs

The government embarked upon a series of economic reform programssupported by theWorld BankandInternational Monetary Fund(IMF)beginning in the late 1980s. Many of these measures have been painful;
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the government slashedcivil servicesalaries by 65% in 1993. TheCFAfranc the common currency of Cameroon and 13 other African states was devalued by 50% in January 1994. The government failed to meet theconditions of the first four IMF programs.

Recent signs, however, are encouraging. As of March 1998, Cameroon'sfifth IMF program a 3-year enhanced structural adjustment programapproved in August 1997 is on track. Cameroon has rescheduleditsParis Clubdebt at favorable terms. GDP has grown by about 5% a yearbeginning in 1995. There is cautious optimism that Cameroon is emergingfrom its long period of economic hardship.

TheEnhanced Structural Adjustment Facility(ESAF) signed recently by theIMF and Government of Cameroon calls for greater macroeconomic

planning and financial accountability;privatizationof most of Cameroon'snearly 100 remaining non-financial parastatal enterprises; elimination ofstate marketing boardmonopolieson the export of cocoa, certain coffees,and cotton; privatization and price competition in thebankingsector;implementation of the 1992labor code; a vastly improved judicial system;and political liberalization to boost investment.

Franceis Cameroon's main trading partner and source of privateinvestment andforeign aid. Cameroon has an investment guarantyagreement and a bilateral accord with theUnited States. USA investment in

Cameroon is about $1 million, most of it in the oil sector. Inflation has beenbrought back under control.
http://en.wikipedia.org/wiki/Civil_servicehttp://en.wikipedia.org/wiki/Civil_servicehttp://en.wikipedia.org/wiki/Civil_servicehttp://en.wikipedia.org/wiki/CFA_franchttp://en.wikipedia.org/wiki/CFA_franchttp://en.wikipedia.org/wiki/CFA_franchttp://en.wikipedia.org/wiki/CFA_franchttp://en.wikipedia.org/wiki/Paris_Clubhttp://en.wikipedia.org/wiki/Paris_Clubhttp://en.wikipedia.org/wiki/Paris_Clubhttp://en.wikipedia.org/wiki/Enhanced_Structural_Adjustment_Facilityhttp://en.wikipedia.org/wiki/Enhanced_Structural_Adjustment_Facilityhttp://en.wikipedia.org/wiki/Enhanced_Structural_Adjustment_Facilityhttp://en.wikipedia.org/wiki/Privatizationhttp://en.wikipedia.org/wiki/Privatizationhttp://en.wikipedia.org/wiki/Privatizationhttp://en.wikipedia.org/wiki/Monopolyhttp://en.wikipedia.org/wiki/Monopolyhttp://en.wikipedia.org/wiki/Monopolyhttp://en.wikipedia.org/wiki/Bankinghttp://en.wikipedia.org/wiki/Bankinghttp://en.wikipedia.org/wiki/Bankinghttp://en.wikipedia.org/w/index.php?title=Labor_code&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Labor_code&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Labor_code&action=edit&redlink=1http://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/Foreign_aidhttp://en.wikipedia.org/wiki/Foreign_aidhttp://en.wikipedia.org/wiki/Foreign_aidhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Foreign_aidhttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/w/index.php?title=Labor_code&action=edit&redlink=1http://en.wikipedia.org/wiki/Bankinghttp://en.wikipedia.org/wiki/Monopolyhttp://en.wikipedia.org/wiki/Privatizationhttp://en.wikipedia.org/wiki/Enhanced_Structural_Adjustment_Facilityhttp://en.wikipedia.org/wiki/Paris_Clubhttp://en.wikipedia.org/wiki/CFA_franchttp://en.wikipedia.org/wiki/CFA_franchttp://en.wikipedia.org/wiki/Civil_service

Documents

Economical Data of Cameroon