Cameroon

Cameroon’s market-based, diversified economy features oil and gas, timber, aluminum, agriculture, mining and the service sector.

Cameroon is a country in Central Africa bordered by the Gulf of Guinea (Atlantic Ocean) in the south west. Cameroon borders Nigeria in the north west, the Republic of the Congo (Brazzaville), Gabon and Equatorial Guinea in the south, the Central African Republic and Chad in the east, and it has a narrow lakefront at Lake Chad in the north. 

Oil remains Cameroon’s main export commodity, and despite falling global oil prices, still accounts for nearly 40% of exports. Cameroon’s economy suffers from factors that often impact underdeveloped countries, such as stagnant per capita income, a relatively inequitable distribution of income, a top-heavy civil service, endemic corruption, continuing inefficiencies of a large parastatal system in key sectors, 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. The IMF continues to press for economic reforms, including increased budget transparency, privatization, and poverty reduction programs. The Government of Cameroon provides subsidies for electricity, food, and fuel that have strained the federal budget and diverted funds from education, healthcare, and infrastructure projects, as low oil prices have led to lower revenues.

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