Cameroon - Balance of payments



In the late 1970s, increased oil production compensated for the low world market prices of Cameroon's agricultural exports and helped the country achieve a favorable balance of payments. From 1994 to 1997, the volume and value of Cameroon's exports increased annually, in part due to the CFA currency devaluation. Since 1997, Cameroon was able to finance it's debt, which reached $8.7 billion in 1998. As of the early 2000s, cocoa and lumber exports had declined, due in part to lower world commodity prices. Petroleum remains Cameroon's chief export commodity. Cameroon has been attempting to attract further foreign investment into offshore and onshore concessions to raise export earnings. Cameroon imports primarily semiprocessed products and other industrial goods, machinery, and food products.

The US Central Intelligence Agency (CIA) reports that in 2000 the purchasing power parity of Cameroon's exports was $2.1 billion while imports totaled $1.5 billion resulting in a trade surplus of $600 million.

The International Monetary Fund (IMF) reports that in 1995 Cameroon had exports of goods totaling $1.74 billion and imports totaling $1.11 billion. The services credit totaled $304 million and debit $499 million. The following table summarizes Cameroon's balance of payments as reported by the IMF for 1995 in millions of US dollars.

Cameroon

Current Account 90
Balance on goods 627
Balance on services -194
Balance on income -412
Current transfers 70
Capital Account 20
Financial Account 43
Direct investment abroad -1
Direct investment in Cameroon 7
Portfolio investment assets -26
Portfolio investment liabilities
Other investment assets -147
Other investment liabilities 210
Net Errors and Omissions -138
Reserves and Related Items -15
Also read article about Cameroon from Wikipedia

User Contributions:

1
nonogh gilbert liwoh
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Jan 24, 2010 @ 9:09 am
I NEED DATA ON THE BALANCE OF PAYMENTS OF CAMEROON FROM 1960 TO 2008
2
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Mar 26, 2011 @ 5:05 am
I need data on Cameroon export, import and foreign direct investment from 1970 - 2009.
3
Nera
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Apr 4, 2019 @ 6:06 am
I need the Balance of payment of Cameroon for 2018

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