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 - per capita | $2,000 (2005 est.) |
GDP - real growth rate (%) | 5% (2005 est.) |
Agriculture - products | coffee, cocoa, cotton, rubber, bananas, oilseed, grains, root starches; livestock; timber |
GDP - composition by sector (%) | agriculture: 44.8%, industry: 17.3%, services: 37.9% (2005 est.) |
Industries | petroleum production and refining, aluminum production, food processing, light consumer goods, textiles, lumber, ship repair |
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 |
Debt - external | $9.223 billion (2005 est.) |
Population below poverty line (%) | 48% (2000 est.) |
Labor force - by occupation (%) | agriculture 70%, industry and commerce 13%, other 17% |