These economic updates analyze thetrends and constraints in Cameroon's economicdevelopment. Each issue, produced bi-annually, provides anupdate of recent economic developments as well as a specialfocus on a selected topical issue. The economic updates aimto share knowledge and stimulate debate among thoseinterested in improving the economic management of Cameroonand unleashing its enormous potential. The notes therebyoffer another voice on economic issues in Cameroon, and anadditional platform for engagement, learning and change. Thelatest information confirms the expected recovery ineconomic activity in Cameroon. The upturn in the globaleconomy and measures taken by the authorities to stimulatedomestic production, real gross domestic product (GDP)growth in 2010 is estimated to have reached 3.2 percent(compared to 2 percent in 2009). As expected, most of thisrecovery was driven by the tertiary sector, which accountedfor more than half of the estimated growth. The sectorbenefitted from a pick-up in timber-related transport andcontinued strong activities in mobile telephony stemmingfrom a greater use of fiber optic, promotional campaignsduring the Soccer World Cup, and the roll-out of newproducts.The recovery in the primary sector, with anestimated growth rate of about 4 percent in 2010, was led bya strong expansion in the timber sector, as well as in foodcrops. The non-oil secondary sector, meanwhile, is alsoestimated to have grown by about 4 percent, driven by acontinued pick-up in construction activities and a reboundin food processing. Cameroon is a relatively small andmature oil producer, where oil production is declining.Depleting reserves, aging equipment, and more recentlypostponements of some development projects and investmentsbecause of the financial crisis explain this profile. Thecontribution of this sector to GDP growth has been mostlynegative in recent years and oil production is estimated tohave contracted by a further 12 percent in 2010 (to 23.2million barrels).
PDF
download
878987797
028-85220240
