Economy of Cameroon

Economy of Cameroon
	Douala, the economic capital of Cameroon
Currency	CFA franc (XAF)
Fiscal year	Calendar year
Trade organisations	AU, AfCFTA (signed), ECCAS, WTO
Country group	Developing/Emerging; Lower-middle income economy;
Statistics
Population	30,058,421 (2025)
GDP	$60.58 billion (nominal; 2025); $173.30 billion (PPP; 2025);
GDP rank	87th (nominal; 2025); 86th (PPP; 2025);
GDP growth	3.2% (2023); 3.6% (2024); 3.6% (2025); 4.0% (2026f);
GDP per capita	$2,027 (nominal; 2025); $5,790 (PPP; 2025);
GDP per capita rank	152th (nominal; 2025); 147th (PPP; 2025);
GDP by sector	agriculture: 32.2%; industry: 17.2%; services: 50.6%; (2024 est.);
Inflation (CPI)	3.4% (2025 est.)
Population below poverty line	22% (2024, World Bank); 23% on less than $3.20/day (estimated in 2024);
Gini coefficient	42.2 medium (2014, World Bank)
Human Development Index	0.588 medium (2024) (148th); 0.470 low IHDI (2023);
Labour force	11,118,837 (2024); 62.9% employment rate (2024);
Labour force by occupation	agriculture: 32.2%; industry: 17.2%; commerce: 50.6%; (2024 est.);
Unemployment	3.5% (2024 est.)
Main industries	petroleum production and refining, aluminium production, food processing, light consumer goods, textiles, lumber, ship repair
External
Exports	$7 billion (2024 est.)
Export goods	crude oil and petroleum products, lumber, cocoa beans, aluminium, coffee, cotton
Main export partners	China 17%; France 8.9%; India 7.2%; Russia 6.8%; Belgium 3.8%; (2024);
Imports	$10.58 billion (2024 est.)
Import goods	machinery, electrical equipment, transport equipment, fuel, food
Main import partners	China 19%; France 7.6%; Nigeria 5.5%; India 4.8%; Russia 4.4%; (2024);
Current account	−$1.2 billion (2024 est.)
Gross external debt	$15.104 billion (31 December 2024 est.)
Public finances
Government debt	37% of GDP (2024 est.)
Foreign reserves	$5.8 billion (31 December 2024 est.)
Budget balance	−0.4% (of GDP) (2024 est.)
Revenues	$8.630 billion (2024 est.)
Expenses	$9.370 billion (2024 est.)
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	Standard & Poor's:; B- (Domestic); B (Foreign); BBB- (T&C Assessment);
	All values, unless otherwise stated, are in US dollars.

The economy of Cameroon was one of the most prosperous in Africa for a quarter of a century after independence. The drop in commodity prices for its principal exports – petroleum, cocoa, coffee, and cotton – in the mid-1980s, combined with an overvalued currency and economic mismanagement, led to a decade-long recession. Real per capita GDP fell by more than 60% from 1986 to 1994. The current account and fiscal deficits widened, and foreign debt grew. Yet because of its oil reserves and favorable agricultural conditions, Cameroon still has one of the best-endowed primary commodity economies in sub-Saharan Africa.