In-Depth Analysis
Cameroon
Cameroon has abundant natural resources, but the cumbersome business environment and infrastructure gaps are major obstacles. The coronavirus pandemic will reduce growth prospects and underpin the need for infrastructural development. The centralised power structure keeps political risk elevated, while insecurity in the restive Anglophone regions remains a perennial concern.
Cameroon’s economy was hit hard by the Covid-19 pandemic in 2020 as the dual shock of the global crisis and commodity price slump resulted in a deterioration of virtually all economic markers. To add to this, continued conflict in the Anglophone region further shook the country while localised flooding also dealt a heavy blow. This year should see the country rebound as Covid-19 vaccine rollouts around the world promise a resumption in normal global economic activity. However, this recovery will be more prolonged than initially anticipated with the domestic economy expected to continue struggling in the short term. (Source: Cameroon Quarterly Update, January 2021.)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
-4.6 |
|
Consumer Price Index (% change y-o-y, avg) |
2.5 |
|
Current Account Balance (as a % of GDP) |
-4.8 |
|
Real GDP (annual % change) |
-1.8 |
|
GDP per Capita, US$ |
1,491.1 |
|
Import Cover (months) |
3.8 |
|
Population, million |
26.5 |
| Total External Debt (as a % of GDP) |
37.8 |