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Yaoundé - 08 July 2020 -
Economy

Cameroon forecasts growth to fall to -3% in the secondary sector this year

Cameroon forecasts growth to fall to -3% in the secondary sector this year
  • Comments   -   Friday, 19 June 2020 13:11

(Business in Cameroon) - In Cameroon’s secondary sector, growth will drop from 4.1% in 2019 to -3% this year, because of the coronavirus pandemic, the Ministry of Economy (Minepat) projects.

The Minepat explains that this sector will be mainly hit by the drop in oil production (-4.3%) following the decrease in demands around the world and the fall in prices which will make some oil wells unprofitable. Also, the decline in activity in the brewing industry due to the containment measures will deal a severe blow to the food processing industry.

Similarly, the construction industry is also slowing down due to the disruption of work on several construction sites because of the containment measures. In this sector, the growth rate will fall from 5.8% in 2019 to 1.6% in 2020, the note projects.

Nevertheless, there will be growth in some industries, the Minepat points out. These are namely the textile industry with the production of face masks, whose production has been liberalized and wearing made mandatory. There is also the chemical industry with the high demand for soaps and hydro alcoholic gel, and the plastic industry with the growing demand for buckets and containers for hand washing.

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