(Business in Cameroon) - The country’s neighbor to the west buys 14.4% of Cameron’s export, according to the 2012 financial year report on the economic situation of the country. On the other side of the coin, 22.6% of the nation’s imports come from Nigeria, followed by France – 12.8% (One time Cameroon’s leading trade partner). Other main buyers are Spain with 14.3% of the total exports and Netherlands, 10.1%.
By geographic region, European Union is still Cameroon’s leading trader partner with 28% of all trade compared to 43% in 2010. It is followed by Africa with 27.1%, Asia with 23.7% and America with 10.1%.
Exports increased from 1,924.2 billion francs CFA in 2010 to 2,171.5 billion in 2011. This jump is due to an increase in oil products and lubricants, crude oil, raw cotton, raw rubber, sawn timber, fresh banana and coffee. However, the export of cocoa beans, aluminum and log timber dropped.
On the other hand, the report says, there was an increase in crude oil and equipment for the implementation of giant projects (Kribi deep seaport, Lom Pangar, Mekin, etc.). Exports of Non-oil imports (mainly due to the purchase of capital goods), frozen sea fish, cereals and pharmaceutical products also increased.