Cameroon

Cameroon Economic Outlook

The strongest and most diversified economy in the Central African Economic and Monetary Community (CEMAC), Cameroon has long been resilient to shocks, but its economy is showing early signs of a slowdown. GDP growth has been steady since 2010, averaging 5.8% from 2013 to 2015 before falling to 4.7% in 2016. Lagging oil and gas prices resulted in postponement of investment in exploration and production, which led to a decline in extractive activities. The recession in Nigeria, the widening crisis in CEMAC, and unrest in the country’s English-speaking regions hurt domestic and external demand. These headwinds lowered the growth rate to an estimated 3.4% in 2017. However, the outlook beyond remains positive, with growth projected at 4.1% in 2018 and 4.8% in 2019, spurred by higher exports to the European Union following an Economic Partnership Agreement (EPA) and increased energy supply due to new hydroelectric dams. Other tailwinds affecting growth include the development of forestry and agro-industrial value chains, as well as a reduction in imports in favor of local products.

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Key Facts

Flag:
Capital: Yaounde
Area: 476,000 sq km
Total Population 2017: 24.5 Million
Urban Population 2017: 73.50%
Female Population 2017: 49.70%
GDP: US$ 32.6 Billion
GNI Per Capita 2015: US$ 3,290
Inflation Rate: 2.34%
Crude Birth Rate (per 1000): 35.20%
Human Development Index (rank / 188): 153
Human Development Index (scale 0 to 1): 0.518
Membership Date: 10/09/1964
Cumulative Approvals (1967-2016): UA 1.7 Billion

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Contacts

Cameroon Country Office

Groupe de la Banque africaine de développement
Immeuble Foul’assi - 1067 bis rue 1750
Nouvelle Route Bastos,
BP 33178- Yaoundé, Cameroun

Tél : (237) 22202761 / 22202765
Fax : (237) 22 20 27 64

Mr Koné Solomane, Country Manager

Department Central Africa Region

Mr. Ousmane Dore, Director Central Africa Region

African Development Bank Group 
Rue Anoma 01 BP 1387 Abidjan 01 (Cote d'Ivoire)
Tel +225 20 26 22 51

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