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Yaoundé - 21 November 2019 -
Economy

Cameroon expects XAF900 bln of customs revenues in 2020

Cameroon expects XAF900 bln of customs revenues in 2020
  • Comments   -   Friday, 12 July 2019 15:12

(Business in Cameroon) - In 2020, Cameroon plans to raise XAF905 billion of customs revenues, the Government Financial Operations Table (GFOT) reveals.  

In 2021, this revenue should increase to XAF925 billion and XAF955 billion in 2022, the table informs.

The customs authority indicates that in the 1960s, 75% of the budget revenues was constituted of customs revenues but, nowadays, it is 18%.

Though in relative value, there is a decrease in customs revenues’ contribution to GDP, but in absolute value, the volume of these revenues have increased. For instance, in the past 11 years, it increased from XAF401.3 billion (in 2007) to XAF803.2 billion (in 2018). According to the customs authority, this increase in absolute value should continue in the next three years.  

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