Cameroon's Macroeconomic Analysis:
Nominal GDP of USD 49.3 billion in 2023.
Nominal GDP of USD 43.6 billion in 2022.
GDP per capita of USD 1,562 compared to the global average of USD 10,589.
GDP per capita of USD 1,722 compared to the global average of USD 10,589.
Average real GDP growth of 3.9% over the last decade.
Average real GDP growth of 4% over the last decade.
Sector Analysis
In 2021, services accounted for 59% of overall GDP, manufacturing 13%, other industrial activity 11%, and agriculture 17%. Looking at GDP by expenditure, private consumption accounted for 73% of GDP in 2021, government consumption 12%, fixed investment 18%, and net exports -3%.International trade
In 2018, manufactured products made up 6% of total merchandise exports, mineral fuels 50%, food 20%, ores and metals 4% and agricultural raw materials 20%, with other categories accounting for 0% of the total. In the same period, manufactured products made up 54% of total merchandise imports, mineral fuels 22%, food 20%, ores and metals 3% and agricultural raw materials 2%, with other goods accounting for -1% of the total. Total exports were worth USD 6 billion in 2021, while total imports were USD 7 billion.Main Economic Indicators
Economic growthThe economy recorded average annual growth of 4.0% in the decade to 2022. To read more about GDP growth in Cameroon, go to our dedicated page.
Fiscal policy
Cameroon's fiscal deficit averaged 3.3% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment
The unemployment rate averaged 3.7% in the decade to 2022. For more information on Cameroon's unemployment click here.
Inflation
Inflation averaged 2.3% in the decade to 2022. Go to our Cameroon inflation page for extra insight.
Monetary Policy
Cameroon's monetary policy rate ended 2022 at 4.50%, up from 4.00% a decade earlier. See our Cameroon monetary policy page for additional details.
Exchange Rate
From end-2012 to end-2022 the Central African CFA franc weakened by 19.1% vs the U.S. dollar. For more info on the Central African CFA franc, click here.
Economic situation in Cameroon
Annual economic growth in the third quarter should have been above that of H1. Inflation averaged the lowest since Q4 2021 in Q3, providing household budgets with some breathing room and boding well for the private spending outturn in the period. Meanwhile, crude oil production shrank further year on year in July–August. Although the contraction was less sharp than in Q2, lower energy production bodes ill for exports in the quarter. Moving to Q4, available data is downbeat: Banana exports shrank nearly 40% and 20% annually in October and November, respectively. In other news, the EU pledged a USD 96 million loan to the country over the coming three years; the funds will be used for the development of the energy sector, road infrastructure and railway network.Cameroon Economic Forecasts
Projections out to 2034.41 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 10 expert analysts.
Want to get insight on the economic outlook for Cameroon in the coming years? FocusEconomics collects projections out to 2034 on 41 economic indicators for Cameroon from a panel of 10 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Cameroon economy. To download a sample report on the Cameroon's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.