Analysis and Studies - Country Analysis
Cameroon: a look at the market
September 12th 2023
Prior to the colonization period, much of the area of present-day Cameroon was ruled by powerful chiefdoms before becoming a German colony in 1884 known as Kamerun. As required by the League of Nations, the region was partitioned between France and the UK after World War I. In 1960, French Cameroon became the Republic of Cameroon. The adjacent British Cameroon's southern region decided to combine with the new nation the next year, creating the Federal Republic of Cameroon. A new constitution replaced the federation in 1972 with the United Republic of Cameroon, a unitary state. The nation has generally experienced stability, which has allowed for the growth of the petroleum sector, highways, and railways.
A look at the Market
Cameroon is the largest CEMAC (Economic and Monetary Community of Central Africa) economy with many natural resources; however, recent political instability, terrorism, and widespread corruption of the higher classes started reducing its economic output.
The top five exports from Cameroon are crude oil ($1.87 billion), petroleum gas ($795 million), cocoa beans ($563 million), sawn wood ($437 million), and gold ($312 million), with the majority going to China ($1.43 billion), the Netherlands ($668 million), India ($421 million), Italy ($350 million), and the United Arab Emirates ($278 million).
On the other hand, special purpose ships, refined petroleum, other furniture, rice, and wheat are Cameroon's top five imports, with the majority coming from China ($2.71B), France ($621M), Nigeria ($551M), India ($391M), and Russia ($308M).
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