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• GDP: US$16.5 billion (2006).
• Main exports: Crude oil and petroleum products, timber, cocoa, aluminium and coffee.
• Main imports: Machinery, electrical equipment, transport equipment and food products.
• Main trade partners: France, Italy, Nigeria, Spain and USA.
• Main exports: Crude oil and petroleum products, timber, cocoa, aluminium and coffee.
• Main imports: Machinery, electrical equipment, transport equipment and food products.
• Main trade partners: France, Italy, Nigeria, Spain and USA.
Economy
Because of consistent agricultural performance and rapid growth of its oil industry, Cameroon has enjoyed broad economic success since independence, although it is vulnerable to changes in world commodity prices.
The main agricultural products are cocoa, coffee, palm oil, wood and rubber. There are sizeable but largely unexploited deposits of iron ore, copper, uranium and other metals. Hydro-electric projects supply most of the country’s energy; oil and gas are largely exported. There are some offshore oil deposits, although the largest are located near the disputed Bakassi peninsula. The manufacturing industry processes primary products.
During the 1990s, the government opened up much of the economy to competition. An IMF structural adjustment programme continues to set the ground rules for the country’s economic policy. Cameroon became eligible for debt relief under the Heavily Indebted Poor Countries Initiative (HIPC) in 2000 which meant significant relief from debt upon completion in 2006. Since 2002, Douala has hosted one of sub-Saharan Africa’s few stock exchanges.
The main agricultural products are cocoa, coffee, palm oil, wood and rubber. There are sizeable but largely unexploited deposits of iron ore, copper, uranium and other metals. Hydro-electric projects supply most of the country’s energy; oil and gas are largely exported. There are some offshore oil deposits, although the largest are located near the disputed Bakassi peninsula. The manufacturing industry processes primary products.
During the 1990s, the government opened up much of the economy to competition. An IMF structural adjustment programme continues to set the ground rules for the country’s economic policy. Cameroon became eligible for debt relief under the Heavily Indebted Poor Countries Initiative (HIPC) in 2000 which meant significant relief from debt upon completion in 2006. Since 2002, Douala has hosted one of sub-Saharan Africa’s few stock exchanges.
Business Etiquette
Office hours: Mon-Fri 0730-1700.
Government office hours: Mon-Fri 0730-1530.
Government office hours: Mon-Fri 0730-1530.
Business Contacts
Chambre de Commerce
BP 36, Yaoundé, Cameroon
Tel: 222 4776.
BP 36, Yaoundé, Cameroon
Tel: 222 4776.
